St. Jude Medical Exercises Option To Acquire Spinal Modulation

(RTTNews) - St. Jude Medical, Inc. (STJ), a medical device company, Monday said it has exercised the company's exclusive option to acquire Spinal Modulation, Inc., developer of the Axium Neurostimulator System.

Following the completion of this acquisition, St. Jude Medical will become the only medical device manufacturer to offer radiofrequency ablation, spinal cord stimulation and dorsal root ganglion stimulation therapy solutions for the treatment of chronic pain.

The acquisition will support St. Jude Medical to help physicians tailor treatment to a patient's chronic pain condition to achieve superior outcomes.

The Axium system originally received CE Mark approval in November 2011 for the management of chronic, intractable pain. In December 2014, Spinal Modulation announced that enrollment in its ACCURATE U.S. IDE trial had been completed.

Spinal Modulation subsequently submitted its PMA application to the FDA in support of marketing approval in the U.S.

Results from the ACCURATE Study will be presented at the 12th annual International Neuromodulation Society Congress, to be held in Montreal, Quebec, Canada, June 6-11, 2015.