Neovasc (NSDQ:NVCN) shares are down more than 6% today after the replacement heart valve maker said it lost a patent case in Germany against arch-rival and Edwards Lifesciences (NYSE:EW) subsidiary CardiAQ Valve The District Court in Munich ruled that CardiAQ Valve contributed to the creation of Neovasc’s Tiara transcatheter mitral valve replacement, awarding”co-entitlement” rights to the patent in […]
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Analyst: Boston Scientific could be eyeing a Neovasc buyout
Boston Scientific (NYSE:BSX) is a potential acquirer for mitral valve maker Neovasc (NSDQ:NVCN), according to JMP Securities analyst John Gillings, after agreeing to a $435 million deal for aortic valve maker Symetis that doesn’t include its Middle Peak Medical mitral valve assets. Although the all-cash Symetis deal adds the market-ready Acurate transcatheter aortic valve implant to Boston Scientific’s […]
Judge dings Neovasc for another $21m in spat with Edwards Lifesciences unit CardiAQ Valve
A federal judge in Boston yesterday added another $21 million to the judgment against Neovasc (NSDQ:NVCN) in a trade secret spat with Edwards Lifesciences (NYSE:EW) subsidiary CardiAQ Valve that’s already cost Neovasc some $91 million. A jury in May awarded $70 million to CardiAQ after finding that Neovasc misappropriated trade secrets in developing its Tiara transcatheter mitral valve replacement […]
Neovasc granted stay as it appeals $70m CardiAQ loss
Neovasc (NSDQ:NVCN) said today it won a stay of judgement as it looks to appeal a $70 million loss to mitral valve rival and Edwards Lifesciences (NYSE:EW) subsidiary CardiAQ Valve. The stay from the US District Court for the District of Massachusetts restricts CardiAQ from enforcing the money judgement “pending the outcome of the appeal,” the company said. “Having […]
Boston Scientific closes $75m Neovasc deal
Boston Scientific (NYSE:BSX) said today it closed its acquisition of manufacturing assets from Neovasc‘s (NSDQ:NVCN) advanced biological tissue business, as well as picking up a 15% equity investment in the company, spending a total of $75 million on both. With the completed acquisition, Marlborough, Mass.-based Boston Scientific said it will integrate certain manufacturing assets and biologic […]
Neovasc surges on early data for Tiara mitral valve implant
Neovasc (NSDQ:NVCN) said today that early clinical data on its Tiara transcatheter mitral valve replacement showed an 86% technical success rate and 100% freedom from mild, trace or absent paravalvular leakage. The Vancouver-based company, which last month won approvals for a 115-patient CE Mark trial of the Tiara valve in Italy, said 22 patients have been implanted […]
Boston Scientific buys Neovasc’s biotissue biz for $75m
Boston Scientific (NYSE:BSX) and Neovasc (NSDQ:NVCN) announced a $75 million deal today for the Neovasc biological tissue business that makes components for Boston Scientific’s Lotus replacement heart valve. The deal, slated to close by the end of the year, also includes a 15% stake in Neovasc, the companies said. Boston Scientific agreed to put up $67.9 million […]
Neovasc wins approvals for European trial of Tiara replacement heart valve
Neovasc (NSDQ:NVCN) said today that it won regulatory and ethics committee approval for a clinical trial of its Tiara replacement heart valve in Italy that it plans to use to back a bid for CE Mark approval in the European Union. Vancouver-based Neovasc said the 115-patient Tiara II study is designed to evaluate safety and effectiveness […]
Neovasc dodges investor lawsuit over $70m loss to CardiAQ Valve
Neovasc (NSDQ:NVCN) yesterday dodged an investor lawsuit brought in the wake of its $70 million loss to replacement mitral valve rival and Edwards Lifesciences (NYSE:EW) subsidiary CardiAQ Valve. A Massachusetts federal jury in May awarded $70 million to CardiAQ after finding that Neovasc misappropriated trade secrets in developing its Tiara transcatheter mitral valve replacement device. Edwards inherited the lawsuit […]
Edwards Lifesciences subsidiary CardiAQ Valve wins another $21m in Neovasc patent spat
A federal judge in Massachusetts yesterday added $21 million to the $70 million Neovasc (NSDQ:NVCN) owes Edwards Lifesciences (NYSE:EW) subsidiary CardiAQ Valve in their spat over replacement heart valve technology. A jury in May awarded $70 million to CardiAQ after finding that Neovasc misappropriated trade secrets in developing its Tiara transcatheter mitral valve replacement device. Edwards inherited the lawsuit when it acquired […]
UPDATE: Neovasc fights Edwards Lifesciences’ bid to add to $70m trade theft loss
UPDATED Sept. 9, 2016, with details on Neovasc’s response. Edwards Lifesciences (NYSE:EW) subsidiary CardiAQ Valve Technologies wants a federal judge in Massachusetts to add 33%, or more than $23 million, to the $70 million trade theft verdict lodged against Neovasc (NSDQ:NVCN) earlier this year. A federal jury in Massachusetts found in May that Neovasc stole trade secrets and breached a non-disclosure agreement with CardiAQ […]