Boston Scientific Corporation (NYSE: BSX) today announced that it has closed on an additional round of financing with MValve Technologies Ltd., a developer of a percutaneous mitral valve replacement system, designed to work with the Boston Scientific LOTUS™ Valve, creating a unique mitral regurgitation (MR) treatment solution. Boston Scientific has provided the company with funding since 2012 and has an exclusive option to acquire MValve.
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.
"The TMVR segment represents another significant growth opportunity as we continue to build our Structural Heart portfolio," said Kevin Ballinger, senior vice president and president, Interventional Cardiology, Boston Scientific. "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 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," said Dr. Maurice Buchbinder, interventional cardiologist, founder and medical director, MValve Technologies.
The MValve docking system is not available for sale.
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