A federal jury in Massachusetts yesterday awarded $70 million to Edwards Lifesciences (NYSE:EW) subsidiary CardiAQ Valve Technologies in a patent infringement lawsuit after finding that Neovasc (NSDQ:NVCN) stole trade secrets and breached a non-disclosure agreement. The lawsuit, filed in June 2014 in the U.S. District Court for Massachusetts, accused Neovasc of using the misappropriated trade secrets to develop […]
CardiAQ Valve Technologies
Edwards Lifesciences (NYSE:EW) said yesterday that it closed the $400 million buyout of CardiAQ Valve Technologies and its transcatheter mitral valve implant. The deal for CardiAQ Valve, which like Edwards is based in Irvine, Calif., included an up-front payment of $350 million in cash and another $50 million pegged to “achievement of a European regulatory milestone,” Edwards said. Edwards is […]
Edwards Lifesciences (NYSE:EW) last week said it agreed to pay $400 million for CardiAQ Valve Technologies and its transcatheter mitral valve implant, saying it also reached a deal to revise the protocol for restarting a trial of its own Fortis mitral valve. The deal for CardiAQ Valve, which like Edwards is based in Irvine, Calif., calls for an up-front […]
CardiAQ Valve Technologies said yesterday that it successfully implanted its 2nd generation transcatheter bioprosthetic mitral heart valve. The procedure was performed in Tor Vergata Hospital in Rome, Italy on a 72-year-old male suffering from severe mitral regurgitation who was ineligible for alternate treatments, the Irvine, Calif.-based company said. “These untreatable patients are the reason I founded […]
April 9, 2015 by Brad Perriello
CardiAQ Valve Technologies today said it won a nod from the FDA for an early feasibility trial of its 2nd-generation transcatheter mitral valve implant.
UPDATED June 6, 2014, with comment from Neovasc.
CardiAQ Valve Technologies said it’s closed a $37.3 million equity round led by OrbiMed Advisors and plans to use the cash to fund feasibility and CE Mark clinical trials for its transcatheter mitral valve implant.
"The dynamic nature of the mitral anatomy, combined with the challenges of percutaneous access, make true transcatheter mitral valve implantation 1 of the most technically demanding device development endeavors of my career," CEO Rob Michiels said in prepared remarks.
Transcatheter valve maker CardiAQ Valve Technologies raised $33.2 million, successfully closing an equity funding round launched late last month.
CardiAQ, a privately held device maker developing transcatheter mitral valve replacement technology, did not disclose the names of investors.
- CardiAQ Valve Technologies taps former CoreValve COO Michiels as CEO
CardiAQ Valve Technologies announced that it has appointed former CoreValve president and COO Rob Michiels, 61, CEO effective immediately. Michiels will remain a director of CVT and founding CEO Brent Ratz will remain a director and president of CVT, adding COO to his roster of titles.