Beacon Endoscopic, a medical device manufacturer based in Newton, Massachusetts, announced a new joint venture with Fujifilm. According to a press release by the company, Beacon Endoscopic will work with Fujifilm Holdings to distribute its Needle eXchange system.
The Beacon Needle eXchange system is a fine needle aspiration system designed for use during endoscopic bronchial ultrasound procedures. In 2010, the company was granted 510(k) clearance from the United States Food and Drug Administration. In 2011, the company was able to raise $5 million in a Series B round of financing.
Distribution of the company’s endoscopic ultrasound devices will begin in Europe, the Asia-Pacific region and China. In addition, both companies will work together to co-develop future endoscopic technologies.
Brian Tinkham is the co-founder of Beacon Endoscopic. In prepared remarks, he said, "Our relationship with Fujifilm will provide physicians worldwide the opportunity to experience the distinctive features of the BNX System." He continued, "We anticipate broad acceptance of the technology due to several of our unique features: procedural efficiency, improved clinical safety and cost-effectiveness."
According to Beacon Medical, the gastroenterology global market has a total value of $3 billion. The company believes that endoscopic ultrasound technology will play an increasingly-large role in the endoscopy market of the future.