Neovasc updates on Tiara, Reducer
Neovasc (NSDQ:NVCN) this week released updates on both its Tiara mitral valve replacement system and its associated clinical trials, as well as its Reducer device designed to treat patients with refractory angina.
The Vancouver-based company presented the latest clinical results on its Tiara valve, reporting that 56 patients have been implanted with the device to date with a 30-day survival rate of 94%. Patients also reportedly experienced trace or no remaining mitral regurgitation “in most cases,” the company said.
“We had a successful and engaging meeting with investigators in our Tiara-II trial regarding clinical results to-date, optimal screening process, best practices for implantation, and a direct comparison of published Tiara clinical results with results from mitral clipping procedures. There was also a presentation of results from our first animal feasibility study for the trans-septal version of Tiara. We collected additional input and feedback from investigators, and these results, along with the updates and discussions in general at the TIARA-II Investigator meeting, appear to have excited our implanting physicians,” CEO Fred Colen said in a press release.
In a seperate seminar, Neovasc said it presented clinical experiences with its Reducer device, discussed possible future uses of the device and a cost-benefit analysis of its use in healthcare systems.
“We were delighted by the interest from physicians in the Reducer this year, and attendance at the symposium exceeded capacity. It was an extraordinary experience, and it reconfirmed our belief in Reducer as a safe and effective product that we expect to generate improved results now that it is being used more broadly across Europe. We believe that for too long this product’s value has been heavily discounted by its stakeholders.” CEO Colen said in a prepared satement.
Neovasc added that its scheduled live case Reducer implant was cancelled due ot the patient withdrawing from the procedure.
Earlier this month, Neovasc announced it will proceed with plans for a reverse stock split with a ratio of up to 1-for-100, with board members and management urging shareholders to vote for the proposal at an upcoming special meeting.