Olympus said on 26 May that it had signed a definitive agreement to acquire BioProtect, an Israeli maker of biodegradable spacers used in prostate cancer radiation therapy, for $270m.
Why Olympus Corporation is buying BioProtect Ltd.
Olympus said the deal expands its oncology and urology portfolio. BioProtect's Balloon Spacer keeps a consistent distance between the prostate and surrounding structures to protect healthy tissue during radiotherapy and then naturally biodegrades.
“BioProtect brings a highly differentiated solution to prostate cancer care”
Deal terms and financing
Some of the $270m is held in escrow for a period that depends on the business operating without interruption. Globes reported that the price was above a $200m figure cited in January by Almeda Ventures, a 4% shareholder, for a memorandum of understanding with an unnamed buyer.
Regulatory approvals and timing
Olympus expected to complete the transaction by the end of the second quarter of 2026, subject to customary conditions, and it closed in early June.
Market context
BioProtect was founded in 2004 and grew revenue from $8m in 2024 to $14.5m in 2025. Its backers included TriVentures, Consensus BioGroup and the Israel Innovation Authority. Rival rectal spacer makers Augmenix and Palette were bought by Boston Scientific and Teleflex respectively.
