Edwards Lifesciences acquires mitral repair dev Harpoon Medical for $100 million

Edwards Lifesciences (NYSE:EW) said today it acquired mitral valve repair developer Harpoon Medical for $100 million in cash, with the potential for an additional $150 million in milestone payments over 10 years. Harpoon is developing a system designed to enable echo-guided repair of mitral valve regurgitation through the stabilization of prolapse leaflets to restore coaptation and valve function. The device is currently investigational, though Harpoon is hopeful it will receive CE Mark approval in the European Union in the near future. “We believe the addition of Harpoon Medical’s technology and talented team will enable even more opportunities to help patients with degenerative mitral regurgitation. The unique beating-heart repair procedure for mitral valve patients complements Edwards’ comprehensive portfolio of treatments for structural heart disease, and reinforces our commitment to innovation in cardiac surgery,” Edwards surgical heart valve therapy VP Bernard Zovighian said in a prepared statement. The deal comes two years after Edwards made a structured investment in Harpoon and gained an exclusive option to acquire the company. “There are a significant number of patients currently undergoing mitral valve surgery that we believe can benefit from Harpoon’s therapy during a minimally invasive, beating-heart procedure. This therapy offers the potential for earlier treatment of degenerative mitral valve disease with faster recovery an...
Source: Mass Device - Category: Medical Devices Authors: Tags: Business/Financial News Cardiovascular Mergers & Acquisitions Replacement Heart Valves Edwards Lifesciences Harpoon Medical Source Type: news