Monday, August 03, 2015 3:05:34 PM
Tendyne's Bioprosthetic Mitral Valve System is an investigational device and not currently available for sale. The U.S. Food and Drug Administration has provided approval for a feasibility clinical trial to provide data about the device's safety and effectiveness. The trial has begun enrolling patients, and there are plans to begin enrollment next year in a clinical trial to support CE mark in Europe.
In a separate transaction, Abbott has provided capital and secured an option to purchase Cephea Valve Technologies. Cephea Valve Technologies, a private company, is developing a catheter-based mitral valve replacement therapy. Financial terms were not disclosed.
As part of its structural heart portfolio, Abbott currently offers MitraClip, a first-of-its-kind mitral valve repair device used to treat certain types of mitral valve disease, the most prevalent heart valve disease. It is delivered to the heart via a catheter through the femoral vein, a blood vessel in the thigh. MitraClip is available in the United States, Canada, Europe and countries in Asia and Latin America. More than 25,000 people around the world have been treated with the MitraClip device.
The Tendyne and Cephea valve replacement technologies are designed to be implanted in a beating heart, without the need for open-heart surgery, similar to MitraClip, thereby offering a new treatment option. Minimally invasive mitral valve repair and replacement is expected to become a multi-billion-dollar market over the next 10 years.
"Mitral valve disease is highly complex and requires multiple treatment options in order to tailor the therapy based on each person's anatomy and health situation," said John M. Capek, Ph.D., executive vice president, Ventures, Abbott. "The Tendyne acquisition and our agreement with Cephea broaden our foundation as one of the leaders in treatments for mitral valve disease, with the goal of bringing promising, less-invasive valve treatment technologies to people who need them."
Completion of the Tendyne acquisition is subject to customary closing conditions, including antitrust clearance. It is expected to close in the third quarter of this year. Neither the Tendyne acquisition nor the option to purchase Cephea is expected to impact Abbott's ongoing full-year 2015 earnings-per-share guidance. Tendyne is headquartered in Roseville, Minn., and Cephea is headquartered in Santa Cruz, Calif.
Abbott is based in Abbott Park, Ill.
- See more at: http://www.mpo-mag.com/contents/view_breaking-news/2015-07-30/abbott-inks-deals-for-two-heart-valve-replacement-firms/?email_uid=461f4fa6d2/list_id=712b461b6a/#sthash.0CNLhzAN.dpuf
Recent ABT News
- Abbott Declares 403rd Consecutive Quarterly Dividend • PR Newswire (US) • 09/19/2024 04:59:00 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 09/13/2024 09:24:39 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 09/12/2024 10:20:12 PM
- Abbott's Lingo™ Continuous Glucose Monitor for Health and Wellness Now Available in the U.S. • PR Newswire (US) • 09/05/2024 01:00:00 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 09/05/2024 12:03:07 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 09/04/2024 11:52:20 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 09/04/2024 08:04:41 PM
- Abbott Initiates Clinical Study to Evaluate the Use of Its Deep Brain Stimulation System to Manage Severe Depression • PR Newswire (US) • 09/04/2024 01:00:00 PM
- Abbott Expands its Pure Bliss™ Line of Infant Formulas to Include European-Made and Organic Products; Offers the First and Only Organic Liquid Formula Available at U.S. Retail Stores • PR Newswire (US) • 08/27/2024 01:00:00 PM
- AVEIR(MC) DR d'Abbott - Le premier système de stimulateur cardiaque double chambre sans sonde est maintenant offert au Canada • PR Newswire (Canada) • 08/15/2024 06:18:00 PM
- Abbott's AVEIR™ DR - World's First Dual Chamber Leadless Pacemaker System - Now Available in Canada • PR Newswire (Canada) • 08/15/2024 05:44:00 PM
- Québec élargit sa couverture publique du système flash de surveillance du glucose FreeStyle Libre 2 à un plus grand nombre d'adultes atteints de diabète • PR Newswire (Canada) • 08/08/2024 01:00:00 PM
- Quebec Expands Public Reimbursement of Abbott's FreeStyle Libre® 2 Flash Glucose Monitoring System to More Adults with Diabetes • PR Newswire (Canada) • 08/08/2024 01:00:00 PM
- Abbott Enters Global Partnership to Connect Its World-Leading Continuous Glucose Monitoring System with Medtronic's Insulin Delivery Devices • PR Newswire (US) • 08/07/2024 12:00:00 PM
- Abbott Enters Global Partnership to Connect Its World-Leading Continuous Glucose Monitoring System with Medtronic's Insulin Delivery Devices • PR Newswire (US) • 08/07/2024 12:00:00 PM
- Cadrenal Therapeutics and Abbott Initiate Collaborative Effort to Advance Novel Anticoagulant Tecarfarin for Patients with LVADs • PR Newswire (US) • 08/06/2024 01:00:00 PM
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 07/31/2024 08:02:17 PM
- Apple Delays AI Features, Abbott Shares Plunge 7% After $495M Fine, Philips Soars 10% • IH Market News • 07/29/2024 10:24:10 AM
- Microsoft Shares Drop 2% and CrowdStrike Plunges 21% Pre-Market Following Major Global Outage • IH Market News • 07/19/2024 10:01:22 AM
- Form 8-K - Current report • Edgar (US Regulatory) • 07/18/2024 11:37:35 AM
- Abbott Reports Second-Quarter 2024 Results and Raises Full-Year Guidance • PR Newswire (US) • 07/18/2024 11:30:00 AM
- Nasdaq Tech Stocks Show Partial Recovery; Oil Prices Rise • IH Market News • 07/18/2024 10:01:11 AM
- BP Slashes Profit Forecast by $700 Million; Morgan Stanley Predicts S&P 500 10% Drop, and More News • IH Market News • 07/09/2024 10:54:32 AM
- Abbott Hosts Conference Call for Second-Quarter Earnings • PR Newswire (US) • 06/27/2024 12:00:00 PM
- Abbott Teams Up With the National Association of Community Health Centers to Expand Access to Nutritious Food and Improve Health • PR Newswire (US) • 06/20/2024 12:05:00 PM
VHAI - Vocodia Partners with Leading Political Super PACs to Revolutionize Fundraising Efforts • VHAI • Sep 19, 2024 11:48 AM
Dear Cashmere Group Holding Co. AKA Swifty Global Signs Binding Letter of Intent to be Acquired by Signing Day Sports • DRCR • Sep 19, 2024 10:26 AM
HealthLynked Launches Virtual Urgent Care Through Partnership with Lyric Health. • HLYK • Sep 19, 2024 8:00 AM
Element79 Gold Corp. Appoints Kevin Arias as Advisor to the Board of Directors, Strengthening Strategic Leadership • ELMGF • Sep 18, 2024 10:29 AM
Mawson Finland Limited Further Expands the Known Mineralized Zones at Rajapalot: Palokas step-out drills 7 metres @ 9.1 g/t gold & 706 ppm cobalt • MFL • Sep 17, 2024 9:02 AM
PickleJar Announces Integration With OptCulture to Deliver Holistic Fan Experiences at Venue Point of Sale • PKLE • Sep 17, 2024 8:00 AM