QT Vascular has agreed to sell its non-drug coated coronary products to Teleflex, including its Chocolate XD and Glider, with an option to purchase its Chocolate Heart drug-coated coronary balloon catheter which is currently under development.

Singapore-based QT Vascular has not released any financial details of the agreement, but said that it will continue to develop and market its other products, including its Chocolate Touch drug-coated percutaneous transluminal angioplasty balloons. The company said it is currently enrolling patients in an IDE trial of the Chocolate Touch device.

The company said that it still has to obtain shareholder approval for the agreement, and that it will convene an extraordinary general meeting as it seeks approval.

“We are excited that Teleflex, one of the world’s leading medical device companies, chose to acquire our coronary products and to obtain a license to our extensive coronary IP portfolio. We will work closely with Teleflex’s team to bring our pioneering drug coated coronary product, Chocolate Heart, to the U.S. market,” QT Vascular CEO Eitan Konstantino said in a press release.

QT Vascular said that outside the sale, it still has plans to develop, acquire and obtain rights to new products in new fields of use and to continue collaborating with large multinationals. VTN