TyRx Pharma Receives Equity Investment from Boston Scientific Corporation

Strategic Insights -

TyRx Pharma, Inc., a privately held company specializing in developing proprietary bioresorbable drug-eluting polymers, has secured an equity investment from Boston Scientific Corporation. This partnership marks a significant milestone in their ongoing collaboration, having worked together since 2002 on co-developing drug eluting coatings for cardiovascular stents under a licensing agreement. The company's innovative approach to creating custom polymers has yielded over 100 tyrosine-based polymers, showcasing their ability to produce precise product specifications. As a result, TyRx's coating and delivery technologies are being utilized in a variety of medical devices.

Key Takeaways:

  • TyRx Pharma has received an equity investment from Boston Scientific Corporation, further solidifying their partnership.
  • The companies have been co-developing drug eluting coatings for cardiovascular stents since 2002 under a licensing agreement.
  • TyRx is focused on developing a family of proprietary bioresorbable drug-eluting polymers for use in combination medical devices and specialty pharmaceuticals.
  • The company has synthesized and characterized over 100 tyrosine-based polymers, allowing for the creation of custom polymers to meet precise product specifications.
  • The coating and delivery technologies developed by TyRx are being utilized in a range of medical devices.
  • Boston Scientific is a developer, manufacturer, and marketer of medical devices used in interventional medical specialties.
  • The law firm of Brown Rudnick Berlack Israels LLP represented TyRx Pharma in the financing round.
  • TyRx was organized in 1998 to advance its core technology, a class of tyrosine-based biodegradable polymers referred to as polyarylates.

Statistics:

  • Over 100 tyrosine-based polymers have been synthesized and characterized by TyRx.
  • TyRx has developed a family of proprietary bioresorbable drug-eluting polymers.
  • 2005: The year the investment was secured.
  • TyRx Pharma was established in 1998.
  • Boston Scientific is a major player in the development, manufacturing, and marketing of medical devices.

Sources:

  • Health & Medicine Week editors (2005)
  • TyRx Pharma, Inc. (no date)
  • Boston Scientific Corporation (no date)
  • Brown Rudnick Berlack Israels LLP (no date)