Olympus buys Israeli BioProtect, maker of a prostate radiation spacer, for $270 million

Japanese medical technology company Olympus agreed on 26 May 2026 to acquire BioProtect, an Israeli maker of devices that protect healthy tissue during prostate cancer radiation, for $270 million. Part of the price is held in escrow until the continuity of production is assured, and Olympus said it planned to keep BioProtect's manufacturing in Netanya. BioProtect will join Olympus's surgical and interventional division, and the deal was expected to close by the end of June.

Radiation is a standard treatment for prostate cancer, but the prostate sits right next to the rectum, so the beams can damage bowel tissue and nerves and leave men with long-term bowel, urinary or sexual problems. BioProtect's Balloon Spacer is a transparent, biodegradable balloon that a doctor inserts between the prostate and the rectum and fills with gel. It pushes the sensitive tissue a safe distance away so the radiation can be aimed at the tumour. After treatment the balloon dissolves on its own. The company says studies show it helps preserve bowel, urinary and sexual function, and it has been used in about 11,000 procedures since its commercial launch in 2023, mostly in the United States.

BioProtect was founded in 2004 out of the Xenia incubator by urologist Dr. Adrian Paz, Prof. Avi Domb, a polymer chemist and former chief scientist of Israel's science ministry, and biomedical entrepreneur Dr. Shaul Shochat. A sister company using similar balloon technology in shoulder surgery, OrthoSpace, was sold to Stryker in 2019. BioProtect is led by chief executive Itay Barnea, has about 130 employees in Israel and the United States, and reported revenue of about $14.5 million in 2025, up from $8 million the year before.

Prostate cancer is the second most commonly diagnosed cancer in men worldwide, with about 1.5 million new cases each year, so ways of making radiation safer reach a very large group of patients.