Boston Scientific Corporation (NYSE:BSX) said it invested $1.5 billion in privately held MiRus, securing an approximately 34% equity stake and an exclusive option to acquire the company’s investigational transcatheter aortic valve replacement (TAVR) business.
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The investment gives Boston Scientific access to the SIEGEL Balloon Expandable TAVR system, a nickel-free valve platform designed to treat severe aortic stenosis. The device remains investigational and has not been approved for commercial distribution in any country.
The company said the transaction aligns with its strategy to strengthen its cardiovascular portfolio.
Under the agreement, Boston Scientific may acquire the MiRus TAVR business through additional cash payments totaling $3 billion if specified clinical and regulatory milestones are achieved.
SIEGEL Valve Targets Less Invasive Procedures
MiRus said the SIEGEL valve is built using a proprietary nitric oxide-coated rhenium alloy frame and dry porcine tissue leaflets. According to the company, the frame offers greater radial strength than cobalt or titanium while eliminating foreshortening to support more precise placement.
The system is also designed with a smaller delivery profile. All three valve sizes — 23 mm, 26 mm and 29 mm — can be delivered through an 8 French expandable sheath, which the company said is roughly 50% smaller than currently available commercial TAVR delivery sheaths.
Boston Scientific highlighted early clinical findings and the valve’s design features as differentiators in the competitive TAVR market.
MiRus Advances STAR Pivotal Trial
MiRus recently launched the STAR pivotal trial, which will evaluate the safety and effectiveness of the SIEGEL valve in up to 1,025 patients with severe symptomatic aortic stenosis across low-, intermediate- and high-risk surgical groups.
BSX Price Action: Boston Scientific shares were up 5.56% at $55.61 at the time of publication on Monday, according to Benzinga Pro.
Over the past month, BSX has declined about 8.82% versus a 3.9% rise in the S&P 500 and is down roughly 42% year-to-date compared to the index’s 7.4% gain.
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