Broad Pharma acquired BlackSwan to deepen the pipeline layout of innovative oncology interventional products

Broad Medical has entered into an equity purchase agreement to acquire shares from BlackSwanVascular,Inc., for up to $37.5 million. The original shareholders acquired 87.5 per cent of the company. Upon completion of the transaction, BlackSwan will become a wholly owned subsidiary of Broad Pharmaceuticals.

Upon completion of the transaction, BlackSwan will become a non-wholly-owned subsidiary of Broad Pharmaceuticals, which will have global interests in both LavaTM and KonaTM. LavaTM is expected to fill the gap in the peripheral liquid embolization market. LavaTM is the first innovative liquid embolization agent for the treatment of peripheral vascular arterial bleeding in the United States, which saves preparation time for doctors and improves patient survival probability in emergency situations. It has been approved by the United States FDA in April 2023. KonaTM is suitable for preoperative embolization of cerebral arteriovenous malformation, and is expected to achieve clear postoperative organ visualization effect. Konatm is expected to receive marketing approval from the US FDA by the end of 2023. LavaTM and KonaTM can form a product portfolio with yttrium [90Y] microsphere products, which is expected to further expand indications to other solid tumors, or to form a brand new drug combination with other chemical drugs or radiopharmaceuticals, expanding Broad Pharmaceutical's product pipeline in the field of tumor intervention.

About the BlackSwan

Founded in 2017 and headquartered in the United States, BlackSwan is mainly engaged in the research and development of liquid embolizers. The company's management team has more than 20 years of experience in pharmaceutical research and development, and its main scientific advisors are from internationally renowned scientific research institutions, schools and device companies. Its liquid embolization program is expected to fill the gap in the peripheral liquid embolization market.

About the LavaTM:

LavaTM is the core product of BlackSwan and the first innovative liquid embolic agent for the treatment of peripheral vascular arterial bleeding in the US, having received marketing approval from the US FDA in April 2023. The product has the properties of radiopaque, imaging process is not easy to appear artifacts, reflecting better imaging effect. LavaTM is convenient to use, and the preparation process only takes 3 minutes (the preparation process of similar products takes about 20 minutes), which saves the preparation time for doctors and improves the survival probability of patients in emergency situations. The converted solid embolization offers two viscosity options, which can be used flexibly for different patient conditions. LavaTM has synergies with radioisotope brachytherapy and interventional therapy, and is expected to be used in conjunction with the company's yttrium [90Y] microsphere products to expand its indications to other oncology areas in the future.

About KonaTM:

KonaTM is another BlackSwan product for preoperative embolization of cerebral arteriovenous malformations. The product has transient radiopaque properties, and the radiopaque properties will decrease with time, which is expected to achieve clear postoperative organ visualization effect. In addition, KonaTM has the potential of drug-carrying properties. In the future, KonATM is expected to be used in combination with yttrium [90Y] microsphere products, laying a foundation for the expansion of yttrium [90Y] microsphere products in indications other than liver tumors, and it can also be loaded with other chemical drugs or radiopharmaceuticals to develop new drug device combination products. It can provide more rich treatment options for other tumor or vascular disease treatment areas. KonaTM has submitted its PremarketApproval (PMA) application to the FDA and is expected to be approved for marketing by the end of 2023.

About the embolization market

The global embolization market is estimated at $3.4 billion in 2021 and could reach $5 billion by 2026, with a compound annual growth rate of 8%. With the increasing incidence of peripheral vascular diseases, liver cancer, stroke, uterine fibroids and other diseases, as well as the increasing penetration rate of minimally invasive surgery, the interventional embolization market will enter a period of rapid growth in the future.