“Less-Invasive Heart Procedures Create New Market For Medical-Device Cos.”
The development of new technology to replace aortic heart valves without major surgery is creating opportunity for a crop of venture-backed start-ups that aims to make these procedures safer and more effective.
In November, publicly traded Edwards Lifesciences Corp. became the first company to earn U.S. regulatory approval for an artificial valve that can replace a damaged aortic valve without open-heart surgery. This system enables physicians to implant the valve in a catheter-based procedure. As a result, people who aren't healthy enough to have surgery can have a less-invasive procedure to replace an aortic valve that been narrowed by calcium deposits.
Some venture-backed companies have profited from this new market by developing valve-replacement technologies themselves. They include CoreValve SA, whose catheter-based valve-replacement system was approved in Europe in 2007. Medtronic Inc. acquired the company, whose backers included Sofinnova Partners, in 2009 for $700 million cash, plus milestones. Another developer of catheter-delivered, aortic-valve systems is privately held JenaValve Technology GmbH, whose investors include Atlas Venture and NeoMed Management.
March 30, 2012
MID Accepted to Present at EuroPCR on May 17, 2012!
Micro Interventional Devices Inc. was blindly selected out of the large pool of applications to present at the renowned EuroPCR, the official congress of the European Association of Percutaneous Cardiovascular Interventions (EAPCI). The committee who reviewed the applications included the discerning EuroPCR Board and Program Committee, the EAPCI and CvPipeline, a market intelligence organization focusing on medical technologies. MID's selection during this competitive application process provides further evidence of the intrigue Permaseal has sparked amongst industry members across the globe.
Dr. Bill Hennemann will be presenting the Permaseal device during the “Cardiovascular Innovation Pipeline- Enabling TAVI” Session to be held on May 17th, in Paris, France. Dr. Hennemann will present the Permaseal device in front of established surgeons, cardiologist and industry members. This presentation will include the latest histology results from MID’s pivotal animal study along with the clinical protocol. The MID team is extremely proud of Permaseal’s acceptance in EuroPCR and looks forward to seeing its reception in Paris this spring.
March 22, 2012
LSGPA Invests $250,000 in Micro Interventional Devices, Inc.
Bethlehem, PA – March 1, 2012. The Life Sciences Greenhouse of Central Pennsylvania (LSGPA) announced today an investment of $250,000 in Micro Interventional Devices, Inc. (MID), a developer of structural heart repair technologies.
MID’s initial product offering is a minimally invasive device known as Permaseal™, which provides access and wound closure during structural heart repair procedures. Designed to move with the beating heart while still keeping the edges of the wound closed, the Permaseal device not only enables wound healing without the use of sutures, it is cost- and time-efficient.
“The Permaseal access and closure device will enable unprecedented safe and reliable transmyocardial access for structural heart repair procedures,” says Michael Whitman, President & CEO. “It is our hope that Permaseal becomes the new standard of care for access and closure for these procedures.”
The patent pending Permaseal technology allows the surgeon to remotely affix a biocompatible implant to the apex of the heart, creating an “access site” on the myocardial surface of the heart. This provides sutureless access for a wide range of structural heart repair procedures including transcatheter aortic valve implantation (TAVI), transcatheter mitral valve replacement, mitral valve repair and other emerging structural heart repair procedures.
December 12, 2011
Students Make Contributions to Heart Surgery Technology
Bridget Hentz ’12 (Ambler, Pa.) thought it was cool when some of her own ideas became part of the design of cutting-edge heart surgery technology. But it was even cooler, she says, to see the devices she helped design fired into a beating heart and doing exactly what they were supposed to do. Hentz, along with Scott Gordon ’12 (Bethlehem, Pa.), Andrew Wilson ’12 (Beaver Meadows, Pa.), and Chris Whitman ’12 (New Hope, Pa.), interned with Micro Interventional Devices (MID), Inc., this summer. Headed by owner and founder Michael Whitman ’82, MID pioneers technologies for treating structural heart disease. Through its innovations, the company is reducing operating times and simplifying complex surgical procedures.
September 19, 2011
MID receives funding from Ben Franklin Technology Venture Partners
Ben Franklin Technology Venture Partners (BFTVP) recently provided funding for MID’s exciting new technology. The mission of the BFTVP is to invest in technology companies that have the potential to make significant contributions to the world of science, while simultaneously creating jobs in Pennsylvania.
Ben Franklin Technology Venture Partners sees a lot of potential in the MID management team and the Permaseal™ device capabilities.
After moving into the Ben Franklin Technology center in Bethlehem, PA in April, the research center remains the headquarters for Micro Interventional Devices, Inc. MID will be moving into the newly constructed addition to the BFTVP facility in the next few weeks.