Scimitar Equity Blog

MCET.OB and its majority owned subsidiary, Xenogenics acquired the Ideal™ BioStent assets from investment funds managed by Western Technology Investment and Silicon Valley Bank.

• Xenogenics Corporation also entered into a worldwide exclusive license with Rutgers University for rights to certain intellectual property related to the Ideal™ BioStent;
• The Ideal™ BioStent also incorporates the drug Sirolimus (rapamycin) in its polymer matrix to provide anti-restenotic therapy similar to today’s commonly used drug-eluting metal stents;
•  The Ideal™ BioStent’s technology allows for the ability to layer different combinations of polymers and drugs enabling the optimization of the delivery of combination drug therapies;
• In extensive animal testing and initial human use, the Ideal™ BioStent demonstrated equivalence in safety, short-term efficacy and structural integrity when compared with today’s leading bare metal stent and drug-eluting metal stent;
• Unlike other bioabsorbable stent technologies, the Ideal™ BioStent showed no stent recoil, both acute and at six month follow up, remaining well apposed to the vessel wall;
• The Ideal™ BioStent is designed to be fully absorbed at 12 months leaving no metal artifact behind in the blood vessel, and allows the blood vessel to heal and return to its natural biological state;
• The ability of the Ideal™ BioStent to leave no permanent structure behind offers several advantages over today’s drug eluting and bare metal stents.  

Xenogenics Corporation is a development-stage medical device company focused on the design of next-generation bioabsorbable stents for interventional cardiology and peripheral vessel applications.

• This patent estate includes 24 issued patents and over 65 patent applications with broad claims encompassing interventional cardiology and intravascular bioabsorbable stent design and manufacture;
• MCET.OB provided the financing for the acquisition of the Ideal™ BioStent and increased its ownership position in Xenogenics Corporation to 91.72% as a result of providing the acquisition financing.