Technology Investor Lead Edge Capital Raises $950 Million as VC Sector Swells, Insight Partners Seeks $875 Million for Debut Preferred-Equity Strategy, Venture Capital Struggles to Boost Funding for Startups With Women Founders, New Heritage Capital Banks Roughly $270 Million for Latest Fund. Each year, more than 1.1 million men are diagnosed with prostate cancer worldwide and approximately 400,000 men will undergo prostate radiotherapy.1,2 One of the most common complications of treatment is rectal radiation injury, due to the rectum's proximity to the prostate and the resulting high doses of inadvertent radiation exposure. MARLBOROUGH, Mass., Oct. 16, 2018 /PRNewswire/ -- Boston Scientific Corporation (NYSE: BSX) today announced the close of its acquisition of Augmenix, Inc., a privately-held company that developed and commercialized the SpaceOAR® Hydrogel System to help reduce common and debilitating side effects that men may experience after receiving radiotherapy to treat prostate cancer. Shares of Boston Scientific rose 0.2% in the extended session after ending the regular trading day up 0.7%. Boston Scientific has announced an agreement to acquire Augmenix for up to $600 million. Clinical trials in Europe and the U.S. have demonstrated that the space created by the hydrogel significantly reduces the amount of radiation delivered to the rectum. We will get in touch with you shortly . ©2019 Boston Scientific Corporation or its affiliates. A single injection of the SpaceOAR hydrogel is designed to maintain the space between the rectum and prostate for three months – within the duration of a standard radiation treatment schedule. https://www.wsj.com/articles/boston-scientific-to-buy-augmenix-1536328323. Mergers & Acquisitions, BayCoast Bank is pleased to announce Helena Moronta of Cranston, Rhode Island, as Vice President, Business Development, BayCoast Bank is pleased to announce Yonatan de la Cruz of Lincoln, Rhode Island as Assistant Treasurer, BayCoast Bank is pleased to announce Stephanie Oster Wilmarth of Barrington, Rhode Island, as Business Development. Cautionary Statement Regarding Forward-Looking Statements. Medical device maker Boston Scientific Corp. has agreed to pay up to $600 million to buy a company whose SpaceOAR hydrogel product has been shown to reduce complications in men who get radiation treatments for prostate cancer. MARLBOROUGH, Mass., Oct. 16, 2018 /PRNewswire/ -- Boston Scientific Corporation today announced the close of its acquisition of Augmenix, Inc., a privately-held company that … Boston Scientific (NYSE :BSX ) today announced that it has entered into a definitive agreement to acquire Augmenix, Inc., a privately-held company which has developed and commercialized the SpaceOAR® System, a therapy used to reduce common and debilitating side effects that men may experience after receiving prostate cancer radiotherapy. Boston Scientific CorporationBSX recently announced an agreement to buy Augmenix, Inc. to strengthen its Urology and Pelvic Health arm within the MedSurg business. Prostate cancer is often treated with radiation, but the therapy can create pain and lingering rectal problems because the rectum is physically so close to the prostate. "The company also has the additional resources needed to further explore expansion of indication to other organs throughout the body that could benefit from space creation – such as gynecological and pancreatic cancers.". Each year, more than 1.1 million men are diagnosed with prostate cancer worldwide and approximately 400,000 men will undergo prostate radiotherapy.1,2 One of the most common complications of treatment is rectal radiation injury, due to the rectum's proximity to the prostate and the resulting high doses of inadvertent radiation exposure. Media Relations All quotes are in local exchange time. MARLBOROUGH, Mass., Oct. 16, 2018 / PRNewswire / -- Boston Scientific Corporation (NYSE: BSX) today announced the close of its acquisition of Augmenix, Inc., a privately-held company that developed and commercialized the SpaceOAR ® Hydrogel System to help reduce common and debilitating side effects that men may experience after receiving radiotherapy to treat prostate cancer. If our underlying assumptions turn out to be incorrect, or if certain risks or uncertainties materialize, actual results could vary materially from the expectations and projections expressed or implied by our forward-looking statements. All trademarks are the property of their respective owners. As a result of commercial adoption, expanded U.S. reimbursement and a total addressable market valued at $750M, product sales are estimated to reach $50M in 2018, and approach $90M in 2019. The transaction consists of an upfront cash payment of $500 million, and up to $100 million for reaching sales-based milestones. The acquisition is projected to close early in the fourth quarter of 2018, subject to customary closing conditions. Boston Scientific Corp. BSX, +0.10% said late Thursday it has agreed to buy privately held Augmenix Inc. for $500 million in cash and up to an additional $100 … All rights reserved. Additional information about Augmenix and the SpaceOAR Hydrogel can be found at www.spaceoar.com. As a result, readers are cautioned not to place undue reliance on any of our forward-looking statements. Additionally, the randomized SpaceOAR hydrogel U.S. clinical trial demonstrated that patients who received the hydrogel spacer reported significantly less rectal pain during prostate radiotherapy and had significantly less severe long-term rectal complications, including zero incidence of grade 2 rectal toxicity versus a 5.7% rate experienced by patients without the spacer. 508-683-5565 (office) (508) 683-5565 (office) Historical and current end-of-day data provided by FACTSET. Factors that may cause such differences include, among other things: future economic, competitive, reimbursement and regulatory conditions; new product introductions; demographic trends; intellectual property; litigation; financial market conditions; and future business decisions made by us and our competitors. We disclaim any intention or obligation to publicly update or revise any forward-looking statements to reflect any change in our expectations or in events, conditions or circumstances on which those expectations may be based, or that may affect the likelihood that actual results will differ from those contained in the forward-looking statements. BSXInvestorRelations@bsci.com. Boston Scientific has been ramping up investments in men’s health in recent years, including more $2 billion worth of acquisitions for Maple Grove’s NxThera and the prostate division of the former American Medical Systems in Minnetonka since 2015. The deal is expected to close early in the fourth quarter, subject to customary closing conditions, and to be immaterial to adjusted per-share earnings this year and the next and accretive by 2020. Further, other companies may calculate these non-GAAP financial measures differently than we do, which may limit the usefulness of those measures for comparative purposes. 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