Olympus has inked a collaboration deal with U.S.-based W.L. Gore, giving the Japanese medtech giant rights to be the international distributor of the Gore Viabil endoscopic placement tool.
Known specifically as the Gore Viabil Biliary Endoprosthesis, the device is an alternative that relieves symptoms often associated with biliary narrowing or blockage of bile ducts, and also allows for accurate positioning, the companies said in an Oct. 6 press release.
Financial terms of the deal weren’t disclosed.
Olympus said it will kickoff a commercialization campaign in the next few months, starting in Europe before introducing the device in other countries. The deal, it said, will expand the company’s global presence in the expanding gastrointestinal metal stent market.
That overall metal stent market was estimated be be $6.4 billion in 2024 and expected to almost double to $11.6 billion by 2032, according to Data Bridge Market Research.
“The Viabil stent is a critical device for GI patient care, and this agreement will complement our industry leading ERCP portfolio,” Mike Callaghan, Olympus global senior vice president and general manager for into therapy, said in the release. “Olympus is committed to helping healthcare organizations and professionals deliver high quality care for their patients, and the relationship with Gore is an important step toward achieving that goal.’
The device has a polytetrafluoroethylene/fluorinated ethylene propylene lining that touts an advantage of having a covered stent that helps prevent tumor ingrowth that can occur through the openings of a medical device like a metal stent.
Last month, Olympus debuted its Olysense platform the company said is a first in a series of artificial-intelligence-powered applications that can help detect polyps during colonoscopies. The platform will be the base for a cloud-based software capable of identifying precancerous colorectal polyps and adenomas in recorded video.