BioForm Medical Acquires ACI GFX Notox
May 1, 2008
BioForm Medical, Inc. (Nasdaq: BFRM - News) announced that it has acquired substantially all of the assets of privately-held, Denver, CO based, Advanced Cosmetic Intervention, Inc. (ACI) and associated technology rights for $12 million cash, plus future royalties and a potential sales-related milestone. This acquisition provides BioForm Medical, a leading medical aesthetics company, with a commercially- available technology for local nerve ablation.
ACI’s device, sometimes also referred to as the GFX device in prior media reports, is currently cleared via a 510(k) by FDA to create RF heat lesions in nerve tissue. The ACI device uses minimally-invasive bi-polar radiofrequency energy selectively to weaken nerve signal transduction with durable effects. The use of this technology on nerves that control the muscles of the forehead may reduce the appearance of frown lines, or glabellar furrows. BioForm Medical expects to conduct clinical studies specifically intended to support an FDA application seeking clearance to market this product for the treatment of frown lines. The Company expects to also seek a CE mark and certain other international registrations of the ACI device for aesthetics indications. Read more
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