Galmed Pharmaceuticals agrees to acquire colorectal surgery device firm Colospan in a $4.5 million cash-and-stock deal.
Galmed Pharmaceuticals has entered a definitive agreement to acquire Colospan, a commercial-stage developer of medical devices for colorectal surgery, for $4.5 million. The deal will see Colospan become a wholly owned subsidiary of Galmed upon closing.
Colospan’s lead product, the CG-100 intraluminal bypass device, targets the colorectal surgery market. Galmed shares fell following the announcement, though terms of the cash-and-stock transaction were not fully disclosed.
The acquisition marks Galmed’s expansion into the medical device sector, diversifying beyond its existing pharmaceutical pipeline.