Devicor Acquires Neoprobe Gamma Detection Device Business

During its annual meeting held Monday, the stockholders of Dublin-based Neoprobe approved the sale of the company’s GDS gamma detection device business to Devicor Medical Products, Inc. Devicor is based in Cincinnati and is a global company dedicated to acquiring and growing healthcare companies that represent key technologies for improving patient experiences and outcomes.  The deal calls for $30 million in upfront consideration, plus an additional $20 million in potential royalties based on future sales milestones. 

In related news, Neoprobe submitted a New Drug Application (NDA) for Lymphoseek® to the U.S. Food and Drug Administration.  Neoprobe seeks clearance to market Lymphoseek in the United States for use in Intraoperative Lymphatic Mapping (ILM), a surgical oncology procedure in which lymph nodes draining the area around a tumor are identified and biopsied to determine if cancer has spread to the lymph nodes. In the US today, ILM is performed primarily for patients with breast cancer and melanoma. According to the American Cancer Society, approximately 209,000 new cases of breast cancer and 68,000 new cases of melanoma were diagnosed in the United States in 2010. 

For more on these stories, see the minutes from the August 15 annual meeting on the sale of the GDS business and the Neoprobe release on the FDA filing.