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July 29, 2019 | Tom Ballard

Arkis Biosciences acquired by New Jersey-based medical technology company

The good news for technology-based companies in the Knoxville-Oak Ridge region just keeps getting better and better with another acquisition of a local start-up.

Integra LifeSciences Holdings Corporation, a leading global medical technology company based in New Jersey, announced yesterday that it has acquired Arkis Biosciences Inc., a privately-held company that offers a portfolio of neurosurgical devices. Among them is the CerebroFlo® external ventricular drainage (EVD) catheter with Endexo® technology, a permanent additive designed to reduce the potential for catheter obstruction due to thrombus formation.

The acquisition of Arkis Biosciences, which is located in the privately-developed building on the University of Tennessee Research Park, strengthens Integra’s offerings in neurocritical care and Integra’s position as the world leader in advanced catheter technology.

We first met Chad Seaver, Arkis Biosciences Chief Executive Officer, more than seven years ago and wrote our first article for when he “took the leap,” resigning in May 2013 from his job with global powerhouse Siemens to devote his full attention to the new Knoxville-based start-up.

Subsequent articles spotlighted the first product in pre-production (October 2015), an oversubscribed Series A round (June 2016), U.S. Food and Drug Administration clearance for its new catheter (September 2017), and this last update (December 2017).

According to yesterday’s announcement, catheter obstruction and bacterial colonization are two key challenges healthcare teams face in managing the external drainage of cerebrospinal fluid (CSF) in neurocritical care patients. This acquisition complements Integra’s current portfolio and provides surgeons a full offering of therapeutic choices to address:

“The introduction of the CerebroFlo EVD Catheter first established the benefits of Endexo in neurocritical care,” Seaver said. “As a world leader in neurosurgery, Integra is the right choice to extend the reach of this important technology to patients and clinicians worldwide.”

The acquisition of Arkis Biosciences follows a series of major investments and transactions in the past year or so. The most recent was Sword & Shield Enterprise Security that was acquired by Sunstone Partners, a growth equity firm that combined the local cybersecurity firm with two other companies – Terra Verde of Phoenix and TruShield of Reston, VA.

Other local transactions include Cubic Corporation acquiring GRIDSMART Technologies Inc. (see our article here), KLA-Tencor Corporation purchasing Oak Ridge-based Nanomechanics Inc. (see our article here), Clovis Point Capital LLC making a significant investment in Cirrus Insight (see our article here), Domtar Corporation acquiring a majority stake in Prisma Renewable Composites LLC (see that announcement here), and K1 Investment Management’s significant investment in PerfectServe Inc.

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