The deal includes the intellectual property and commercial rights of J-Valve, a transcatheter aortic valve replacement (TAVR) system. Edwards agreed to an undisclosed upfront payment, plus potential sales-based contingent milestones.
This marks the latest M&A play from Edwards, which has been very active on that front in recent months. In July, the company struck a deal to acquire mitral valve maker Innovalve Bio Medical. Ten days later, it announced two more acquisitions — JenaValve and Endotronix — worth a combined $1.2 billion. Separately, Edwards also made a series of agreements with Affluent Medical — one of which had an option to buy a subsidiary.
J-Valve holds FDA breakthrough device designation. Its breakthrough designation covers the treatment of severe native aortic regurgitation (AR) and AR-dominant mixed aortic valve disease. The system’s procedure takes place through a minimally invasive, transfemoral approach. It eliminates the need for open-heart procedures or extracorporeal circulation.
Genesis MedTech says J-Valve’s design can potentially help treat aortic valve regurgitation. The company believes this remains an underserved population by the treatment options in the U.S.
In addition to the acquisition, Edwards made an equity investment of $25 million in Gensis MedTech. This supports the company’s product and market development efforts. Genesis has maintained the exclusive right to develop, manufacture and commercialize J-Valve in China.
“J-Valve has unique advantages in treating aortic valve regurgitation.” said Warren Wang, chair and CEO of Genesis MedTech Group. “We hope that J-Valve can expand its global impact, enabling more patients to benefit from this innovative product. We will continue strengthening our focus on developing innovative products and explore better medical solutions to benefit more patients worldwide.”
