Boston Scientific Acquires Xlumena Inc for $62.5M

Earlier this month, ATEL Ventures, Inc. (“AVI”) portfolio company Xlumena
was acquired by Boston Scientific for $62.5M. Xlumena, a venture-backed
medical device company, develops, manufactures, and sells minimally
invasive devices for Endoscopic Ultrasound (EUS) and is used to treat
pancreatic and biliary disease. In a statement, CEO of Xlumena Greg
Patterson said, “We are proud to see our technology evolve in conjunction
with Boston Scientific’s portfolio and provide patients a holistic and
minimally invasive solution.”Venture capital firms investing in Xlumena include Ascent Biomedical
Ventures, Aperture Venture Partners, and Prism Venture to name a few.
Xlumena started with a $3M Series A in 2010 and quickly moved to Series B a
year later with an additional $7M in funding. Shortly thereafter the
company received debt financing from AVI, which extended the company’s
runway for an additional two years of research at which time Xlumena moved
on to Series C late 2013 with $25M.Xlumena’s acquisition fulfills AVI’s directive as a leading provider of
senior secured loans to emerging growth companies. AVI’s role is to support
portfolio companies from the ground up, enabling them to successfully
create the game changing innovations of tomorrow.Xlumena’s innovations are helping to transform complex surgeries into
simple, outpatient events and are promising to be a significant boon for
the rising specialty of therapeutic interventional endoscopy. The result is
a rapidly growing medical specialty that is minimally invasive, does not
require anesthesia, takes about 10 minutes, and reduces cost by half.