BioSepra to Acquire BioSphere Medical SA

BioSepra Inc. has signed an agreement to acquire 51% of the outstanding equity of BioSphere Medical SA, a medical device company located in France.

BioSphere Medical will have exclusive worldwide rights to use BioSepra's patented emulsion technology and spherical biocompatible beads for blood vessel occlusion to starve hypervascularized tumors. The company expects to complete the transaction within 90 days, subject to satisfaction of certain closing conditions. As part of the transaction, BioSepra also acquired an option to purchase the remaining 49% of BioSphere Medical within the next five years.