Boston Scientific Seizes an Opportunity in Mitral Valve Repair

Boston Scientific may be gearing up to make an acquisition in the mitral valve repair space sometime in the next year or two. The Marlborough, MA-based company purchased $90 million worth of stock in Millipede, a Santa Ana, CA-based company that has developed the Iris transcatheter annuloplasty ring system for the treatment of severe mitral regurgitation (MR). The two companies also reached an agreement giving Boston Scientific the option to acquire Millipede at any time prior to the completion of a first-in-human study that meets certain parameters. After the study, Millipede has the option to compel Boston Scientific to acquire the remaining shares of the company. Each company's option period is good through the end of 2019. If Boston Scientific does acquire Millipede, it would be for an additional $325 million at closing, plus a $125 million commercial milestone payment. MR is caused by a leaking mitral valve, which then causes blood to regurgitate from the left ventricle to the left atrium of the heart. Over time, the condition can lead to or accelerate heart failure and heart rhythm problems. Many patients with severe MR have compromised heart function and are not able to tolerate open-heart surgery to repair or replace the leaking valve. This large and currently underserved patient population could benefit from a fully-percutaneous transcatheter procedure that can repair the dilated mitral annulus and reduce regurgitation without undergoing surgery, Boston Scientific no...
Source: MDDI - Category: Medical Devices Authors: Tags: Cardiovascular Medical Device Business Source Type: news