SHANGHAI, Sept. 7, 2016 /CNW/ -- Broncus Holding Company (BHC), announced today that it has acquired the assets of privately held Uptake Medical Corp, the manufacturer of vapor technology for the bronchoscopic ablation of emphysema and lung cancer. Vapor ablation has been shown to result in clinically meaningful improvement in lung function and quality of life in a recent randomized controlled trial published in the Lancet RM (July 2016). The acquisition positions BHC as the leader in providing the complete solution for the two most devastating lung diseases.
BHC's Chairman Michael Zhao explains: "Our plan is to deliver a solution through combination of the technologies from our two companies, Broncus Medical Inc. and Uptake Medical Technology. Broncus Medical Inc. will focus on the complete treatment for lung cancer and Uptake Medical Technology will focus on the complete treatment for emphysema. Together these two companies represent complete answers for the number one and two leading causes of pulmonary disease."
"We are very excited to be able to offer an impeccable solution to bronchoscopic-based lung cancer treatment through the integration of Uptake's vapor technology and our products, LungPoint and Archimedes," said Henky Wibowo, President of Broncus Medical Inc., San Jose, CA. "We are elated to have the additional resources and infrastructures that Broncus provides to rapidly extend our commercialization coverage in the EU and Asia. Additionally, Broncus' products will complement and extend the InterVapor system and further simplify the procedure for treating emphysema patients," said Robert Barry, President of Uptake Medical Technology, Seattle, WA.
Cautions Concerning Forward-Looking Statements
This press release contains "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995 related to the acquisition of Uptake Medical Corp. assets. The reader is cautioned not to rely on these forward-looking statements. These statements are based on current expectations of future events. If underlying assumptions prove inaccurate or known or unknown risks or uncertainties materialize, actual results could vary materially from the expectations and projections of Broncus Holding Company, Broncus Medical Inc. and Uptake Medical Technology. Risks and uncertainties include, but are not limited to: challenges related to integrating the assets, as well as the ability to ensure continued performance or market growth of the company's products; the potential that the expected benefits and opportunities related to the transaction may not be realized or may take longer to realize than expected; challenges inherent in product research and development, including the uncertainty of obtaining regulatory approvals; uncertainty of commercial success for new and existing products; competition, including technological advances, new products and patents attained by competitors; challenges to patents; changes to applicable laws and regulations, including global health care reforms; and changes in behavior and spending patterns or financial distress of purchasers of health care products and services.
SOURCE Broncus Holding Company
For further information: Henky Wibowo, 650-428-1600