Galway-based medical devices technology firm Aerogen has completed a management buyout (MBO) from its US parent Nektar Therapeutics. The value of the deal has not been disclosed.
Aerogen specialises in drug delivery technology for the respiratory sector. The company currently employs 30 people and said that following the MBO it will commence a further recruitment strategy.
“This deal empowers Aerogen to grow our business and expand our product offerings,” commented John Power, CEO, Aerogen.
“We have advanced negotiations in several exciting areas and plan to announce new partnerships with a number of US and European market leaders in both the medical field and commercial products area in the near future.”
With headquarters in Galway, Ireland, Aerogen also has offices in the UK and the US. Under the terms of the deal, Nektar will maintain a minority share in the business.
Aerogen’s core technology, the OnQ micropump aerosol generator is currently used worldwide in nebulizers for drug delivery to patients in the intensive care and home care settings.
Distributed by industry leaders such as Respironics, GE Healthcare, Maquet, Covidien and an independent distributor network, Aerogen’s products are available in over 50 countries. Key markets include the US, Japan and Germany.
By John Kennedy