VADovations, Inc. Licenses Intellectual Property From Mayo Clinic to Develop a Novel Next-Generation Endovascular Cardiac Assist Device for Long-Term Use
OKLAHOMA CITY--(BUSINESS WIRE)--Jan 29, 2020--
VADovations, Inc., a company developing miniaturized cardiac assist pumps offering best-in-class blood handling properties, high performance and low cost, today announces an agreement to license intellectual property from Mayo Clinic for endovascular deployment of VADovations’ novel cardiac assist pump for long-term use in patients suffering with heart failure. This next generation technology is designed to avoid open surgical implantation while addressing the limitations of current blood pumps.
Kurt Dasse, Ph.D., president of VADovations, says, “Advancing our mission to deliver the best, most widely adopted implantable cardiac assist technologies that overcome the limitations of current and emerging devices, we are proud to draw on the clinical expertise of Mayo Clinic enabling our newest innovation: the endovascular deployment of VADovations’ ultra-miniature cardiac assist pump uniquely designed for enhanced safety and cost-effectiveness. Percutaneous insertion and catheter-directed navigation through blood vessels to the heart avoid the need for extensive open-heart surgery, as is required for other cardiac assist pumps today.”
Heart failure is a serious problem affecting 550,000 patients annually in the US alone. Left untreated, it is more fatal than cancer and options are limited as heart failure progresses. Heart transplantation is effective at end-stage but is limited to only 3,500 hearts annually. The growing field of Mechanical Circulatory Support systems offers alternatives for cardiothoracic surgeons and interventional cardiologists.
James Long M.D., Ph.D., a highly-recognized heart transplant surgeon and a pioneer in the use of Mechanical Circulatory Support (MCS) for heart failure, explains, “The MCS field needs innovative technologies like this to reduce the complications and costs associated with assisting the heart while improving survival and quality of life for patients suffering from advanced heart failure.”
Samuel Asirvatham M.D., medical director of the Electrophysiology Laboratory at Mayo Clinic, who leads the Mayo’s team with this initiative states, “We anticipate that this collaboration will accelerate development of advanced technology for patients in need of cardiac assistance.”
VADovations maintains an affiliation with INTEGRIS Health, Oklahoma’s largest health care provider, a not-for-profit system that enjoys distinction for innovation, leading-edge medicine and is a member of the Mayo Clinic Care Network. Mayo Clinic, INTEGRIS Health and Dr. Asirvatham have financial interests in the technology referenced in this announcement. Mayo Clinic and INTEGRIS will use any revenue they receive to support their not-for-profit missions in patient care, education and research.
Northland Capital Markets is acting as financial advisor to VADovations.
Revolutionizing cardiac support technology and the treatment of heart failure, VADovations is developing ultra-miniaturized blood pumps designed for minimally invasive and percutaneous, endovascular deployment while addressing the total spectrum of advanced heart failure therapy with the best possible quality and cost-effectiveness. Contact: firstname.lastname@example.org; Visit https://vadovations.com/.
Safe Harbor Statement
Statements in this press release are “forward-looking” statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934. These statements involve a high degree of risk and uncertainty, are predictions only and actual events or results may differ materially from those projected in such forward-looking statements.
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CONTACT: John Frick
201.641.1911 x 54
KEYWORD: OKLAHOMA UNITED STATES NORTH AMERICA
INDUSTRY KEYWORD: PROFESSIONAL SERVICES HEALTH MEDICAL DEVICES HOSPITALS MANAGED CARE VENTURE CAPITAL CARDIOLOGY
SOURCE: VADovations, Inc.
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PUB: 01/29/2020 08:00 AM/DISC: 01/29/2020 08:00 AM