BioProtect, a Peregrine Ventures portfolio company, is being acquired by Olympus Corporation for $270 million.
BioProtect develops biodegradable balloon implant technology designed to help protect healthy tissue during prostate cancer radiation therapy. Its flagship Balloon Spacer system is designed to provide consistent spacing between the prostate and other critical structures during treatment and naturally biodegrades after therapy. Following its commercial introduction in 2023, the Balloon Spacer has been used in more than 11,000 procedures worldwide.
BioProtect entered an already-established category of spacing solutions, while bringing a different technical approach. Unlike injectable gel spacers, BioProtect’s balloon-based system is designed to enable more predictable and controllable spacing, supporting a more precise separation of tissue during treatment.
Olympus describes BioProtect as a highly differentiated solution with a compelling clinical value proposition and early commercial success, aligning with Olympus’ strategy to expand in urology and oncology and broaden its offering across the care pathway.
According to Olympus, BioProtect reported revenue of approximately $14.5 million in 2025.
Peregrine Ventures supported BioProtect throughout its growth journey, helping the company expand its clinical footprint, commercial operations, and global strategic partnerships. This transaction underscores BioProtect’s strong clinical and commercial progress and represents another important milestone for Peregrine and our investors.
Additional details are available in Olympus Corporation’s official announcement: https://www.olympus-global.com/news/2026/nr03020.html
