MedTech Dive December 11, 2023
The collaboration will focus on Cosmo Intelligent Medical Devices’ GI Genius module, which Medtronic distributes globally.
Dive Brief:
- Medtronic will pay Cosmo Intelligent Medical Devices $100 million upfront to expand a partnership that makes Medtronic the exclusive global distributor of Cosmo’s GI Genius platform.
- GI Genius received de novo clearance in 2021 and uses machine learning to flag regions of interest during a colonoscopy, helping physicians detect lesions, such as polyps or suspected tumors.
- In addition, Medtronic said it would pay a double-digit royalty on net sales and another $100 million in milestone payments that it expects the partnership to reach by the end of 2024.
Dive Insight:
Medtronic first started working with Cosmo Intelligent Medical Devices, a...
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