Benzinga | Feb 26, 2021 08:37AM EST

Axonics Acquires Urethral Bulking Agent For $200M

* Axonics Modulation Technologies Inc (NASDAQ: AXNX) has acquired UK-based Contura and its lead product Bulkamid, a urethral bulking agent used to treat female stress urinary incontinence.

* The transaction includes a total consideration of $200 million in cash and stock, along with a potential future milestone of $35 million.

* Bulkamid is a homogenous non-particulate hydrogel injected into the urethral wall in a minimally invasive office or outpatient facility procedure for restoring the urethra's natural closing pressure.

* The hydrogel secured CE Mark approval in 2003 and the FDA approval last year.

* Price Action: AXNX shares are 1.34% higher at $51.50 in the premarket session on the last check Friday.