Boston Scientific invested additional $15 million in Israeli heart valve maker Mvalve in deal for exclusive buyout option. Israeli media claim for $200 million.
MValve was funded in 2012 by Dr. Maurice Buchbinder, an interventional cardiologist who discovered the technology, and CEO Assif Stoffman, executive vice president with Israeli venture capital fund XT Hitech, the Sammy and Yuli Ofer Brothers high tech investment fund, which is the sole investor in Mvalve.
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MValve Technologies plans to utilize the new financing, in part, to fund a first-in-human clinical trial for the MValve docking system for transcatheter mitral valve replacement (TMVR) in patients with mitral regurgitation.
The approach, in which the Boston Scientific Lotus Valve is deployed inside the MValve docking system, is designed to enable the treatment of mitral regurgitation in a broad range of patients, and to improve long-term clinical outcomes in this patient population. Both the dock and valve can be repositioned and recaptured, enabling precise valve placement and physician confidence prior to releasing.
Mitral regurgitation is the most common type of heart valve disorder and occurs when the mitral valve does not close properly, causing an abnormal reversal of blood to flow from the left ventricle into the left atrium.
Boston Scientific SVP and president, Interventional Cardiology Kevin Ballinger said, “The TMVR segment represents another significant growth opportunity as we continue to build our Structural Heart portfolio. This round of financing will support the development of the MValve technology in anticipation of a first-in-human clinical trial, and we are pleased to be continuing our collaboration.”
Mvalve founder and medical director Buchbinder said, “MValve is proud of our truly novel technology, and we look forward to continued development of this unique mitral system – a system that we anticipate will finally provide physicians with a transformative solution and offer patients the appropriate treatment they deserve.”