Canada-based Nordion sheds its targeted therapy business and the TheraSphere targeted liver cancer therapy to BTG plc for $200 million.
Ottawa-based Nordion (NYSE:NDZ) unloaded its targeted therapy business, handing the division, related products and about 40 employees over to British life sciences company BTG plc for $200 million.
BTG will take over the division’s lone product, an increasingly lucrative targeted liver cancer therapy system called TheraSphere. TheraSphere has driven strong recent growth, generating $48.5 million in revenues in 2012, a 14% bump over 2011 figures, according to the Ottawa Business Journal.