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BSD Medical Corporation (NASDAQ:BSDM), a leading provider of medical systems that utilize heat therapy to treat cancer, announced today that the Company has signed an exclusive, long-term, multi-million dollar distribution agreement with Terumo Europe NV, a wholly owned subsidiary of Terumo Corporation for the MicroThermX Microwave Ablation System (MicroThermX).
The distribution agreement with Terumo Europe NV is the result of a collaborative effort between BSD Medical and Terumo, and represents one of the most significant milestones in BSD’s corporate history.
A world leader in state-of-the-art medical devices and interventional oncology, Tokyo-based Terumo Corporation (TYO: JP:4543) reported 2012 sales of nearly $5 billion and has a market cap in excess of $8 billion. Through the sale and promotion of a high quality line of devices used for tumor embolization, the closing or blocking of blood vessels, Terumo Europe NV has established itself as a pioneer in the field of interventional oncology. Embolization and ablation are "hand-in-hand" clinical procedures for the treatment of cancerous tumors and, when used together, enable a less invasive course of treatment.
Under the terms of the distribution agreement, Terumo Europe NV will have the exclusive right to market MicroThermX in 100 countries in Europe, Western Asia, and Northern Africa. The potential market size for the system in these countries is estimated to be in excess of $1 billion in annual sales. This agreement validates the large market opportunity for ablation products and is expected to drive market adoption for the MicroThermX as a leading ablation therapy system.