Zylox-Tonbridge, a leading medical device company in the peripheral and neurovascular interventional market in China, has announced a new strategic partnership with US-based Avinger, a commercial-stage medical device company developing and marketing the first and only intra-vascular image-guided, catheter-based systems for diagnosis and treatment of vascular disease.

This partnership includes an exclusive right to Zylox-Tonbridge to localise, manufacture, and commercialise the entire product family developed by Avinger in Greater China (including Mainland China, Hong Kong, Taiwan, and Macau), and a technology transfer agreement to leverage Zylox-Tonbridge cost-efficient manufacturing capacity to support Avinger's global sales outside of Greater China.

The collaboration also provides Avinger the opportunity to distribute high-quality peripheral vascular products developed by Zylox-Tonbridge in the United States and Germany. Based on the achievement of certain milestones, Zylox-Tonbridge will invest $15 million into Avinger in two tranches by subscribing for newly issued common shares and preferred shares of Avinger.

Avinger is globally recognised for its pioneering Optical Coherence Tomography (OCT)-guided, catheter-based system and devices, offering real-time intra-vascular imaging during treatment. By collaborating with Avinger, Zylox-Tonbridge is introducing the globally leading OCT-guided vascular treatment technology to the Chinese peripheral intervention market.