Edwards Makes Significant Moves in the Mitral Valve Space

Edwards Lifesciences bolstered its presence in the mitral valve space through a pair of transactions it announced Monday. The Irvine, CA based company invested $35 million in an exclusive right to acquire Corvia Medical and in addition the firm obtained certain assets of Mitralign for an undisclosed sum. Edwards investments come on the heels of Boston Scientific exercising its option to acquire the remaining shares of Millipede Inc. for $325 million. In addition, the Marlborough, MA-based company said a $125 million payment becoming available upon achievement of a commercial milestone. Tewksbury, MA-based Corvia Medical’s InterAtrial Shunt Device is designed to provide continuous and dynamic decompression of the left atrium, which may reduce symptoms and slow the progression of heart failure. The therapy has received CE Mark and is being studied as part of an FDA pivotal clinical trial. In August, the company reported strong one-year follow-up data from the REDUCE LAP-HF I clinical study of the Interatrial Shunt Device. In the Mitralign deal, Edwards said the assets including intellectual property and associated clinical and regulatory experience. Tewksbury, MA-based Mitralign is developing an investigational transcatheter annuloplasty system designed to treat functional mitral and tricuspid regurgitation. Edwards made a big splash in the mitral valve space back in 2015. During this time, the firm spent up to $400 million to acquire CardiAQ Valve Technologie...
Source: MDDI - Category: Medical Devices Authors: Tags: Business Cardiovascular Source Type: news