BTG, a British specialist healthcare group has acquired Novate Medical, a pulmonary embolism-focused medtech startup. While the upfront fee is a modest $20 million, BTG is on the hook for up to $130 million more in potential commercial and sales-related milestone payments. 

Under the deal, BTG will pick up Novate’s Sentry device, a bioconvertible filter for the inferior vena cava (IVC) that scored FDA clearance last year. It is indicated for the prevention of recurrent pulmonary embolism (PE), or the blockage of a major artery in the lung usually caused by a blood clot that has traveled from elsewhere in the body. The Sentry filter is indicated for patients at high risk of PE for whom anticoagulants have failed or are contraindicated, and in patients requiring emergency treatment for PE. 

BTG plans to launch the device in the U.S. in the second half of its 2018/2019 fiscal year. 

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