PLYMOUTH, Minn. (AP) -- Medical device maker ev3 Inc. said Friday that it started a supply deal with Medrad Interventional for a drug-coated catheter.
Financial terms of the deal were not disclosed.
Under the deal, Medrad will supply its Cotavance peripheral drug-eluting balloon angioplasty catheter with Paccocath technology for study in combination with ev3's SilverHawk and TurboHawk Plaque Excision Systems. They will be used in a European pilot study for treating lower extremity peripheral arterial disease, or a narrowing of blood vessels.
Balloon catheters are used to enlarge the blood vessels to allow for better blood flow. Ev3's systems are used to remove plaque that blocks blood flow.
Shares of ev3 rose 45 cents, or 2.7 percent, to $16.86 in midday trading.
