Navigation Links
Abbott to Acquire Evalve, Inc., a Leader in Minimally Invasive Cardiac Valve Repair Technology
Date:9/10/2009

y. Evalve's minimally invasive catheter-based MitraClip(R) system, used to clip the leaflets of the mitral valve together to reduce regurgitation, is the first commercially available treatment option approved in Europe for non-surgical mitral valve repair for patients suffering from the effects of mitral regurgitation. The MitraClip system is an investigational device in the United States and is currently in clinical trials.

"Combining Evalve's first in class mitral valve repair technology with Abbott's global presence, commercial infrastructure and manufacturing expertise will help advance minimally invasive treatment options for the millions of patients with mitral regurgitation," said Robert Hance, senior vice president, vascular, Abbott. "We look forward to welcoming Evalve as a key part of Abbott's vascular business."

"Patients in Europe have benefited from having access to the MitraClip technology since it received CE Mark last year," said Ferolyn Powell, president and chief executive officer of Evalve, who will continue to lead the Evalve team and will report to Hance after the acquisition closes. "We look forward to becoming a part of Abbott and working together to accelerate our business and expand our global reach to patients around the world with our minimally invasive technologies."

Under the terms of the agreement, Abbott will acquire the remaining 90 percent of outstanding equity of Evalve, Inc. that it does not already own for an upfront payment of $320 million, plus a $90 million payment if certain regulatory milestones are met. The transaction does not impact Abbott's previously issued earnings-per-share guidance for 2009.

The transaction is subject to customary closing conditions, including antitrust clearances. Abbott expects the transaction to close in the fourth quarter of 2009.

About Evalve, Inc.

Founded in 1999 by The Foundry
'/>"/>

SOURCE Abbott
Copyright©2009 PR Newswire.
All rights reserved

Page: 1 2 3 4

Related biology technology :

1. Abbott Expands XIENCE V(R) USA Trial to Enroll Patients into Landmark Dual Anti-Platelet Therapy (DAPT) Trial
2. Abbott HIV Test Demonstrates Earlier Disease Detection
3. Centocor Ortho Biotech Inc. Awarded $1.67 Billion Patent Jury Verdict from Abbott Laboratories
4. Abbott & BioGenex Extend the Technology Co-development and Distribution Agreement for Marketing the Xmatrx(R) Advanced Staining Platform for the Automation of FISH, IHC and ISH Molecular Diagnostic Assays
5. Abbott Named One of the Top 10 Companies for Scientists
6. HUYA Bioscience Announces Strategic Alliance With Abbott on Drug and Biomarker Development Candidates From China
7. Abbott to Present at Barclays Global Healthcare Conference
8. Abbott Employee Giving Sets New Records for Employee Participation and Total Donations
9. Abbott Announces 11 Percent Increase in Quarterly Dividend
10. Abbott Expands Its Growing Medical Device Business With Acquisition of Advanced Medical Optics (AMO)
11. Abbott Announces Earnings Guidance for 2009
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:8/29/2014)... A major challenge before new biotechnology start-up ... of Boston-Cambridge, is gaining visibility that can lead to ... Director of Boston’s Adult Stem Cell Technology Center, LLC ... of his company an important priority since he started ... a social media marketing campaign launched earlier ...
(Date:8/28/2014)... USA (PRWEB) August 28, 2014 SPIE ... of Physics and Optical Science and Director of the ... of North Carolina at Charlotte, and co-founder and Chairman ... to serve as the 2015 Vice President of SPIE, ... 2014 President Philip Stahl announced recent election results at ...
(Date:8/28/2014)... 28, 2014 Best Sanitizers, Inc., the ... alcohol-based hand sanitizer, asks food processors and food handling ... hand sanitizer they’re currently using to Best Sanitizers’ ... is critical to fighting cross-contamination and the spread of ... believes there are key criteria that make a hand ...
(Date:8/28/2014)... A new research platform uses a laser ... structures undergoing stress and heating, an approach ... for microelectronics and batteries., This new technique, ... how heating and the surface stress of ... have discussed the merits of surface-stress influence ...
Breaking Biology Technology:The Adult Stem Cell Technology Center, LLC Participates in Multiple Stem Cell and Regenerative Medicine Conferences Before Year End 2The Adult Stem Cell Technology Center, LLC Participates in Multiple Stem Cell and Regenerative Medicine Conferences Before Year End 3The Adult Stem Cell Technology Center, LLC Participates in Multiple Stem Cell and Regenerative Medicine Conferences Before Year End 4Glenn Boreman, UNC Professor and Plasmonics Co-Founder, Elected to SPIE Presidential Chain 2Food Processors and Food Handlers are Encouraged to Prepare for Fall Harvest by Evaluating Their Current Hand Sanitizer Using Nine Key Criteria 2Food Processors and Food Handlers are Encouraged to Prepare for Fall Harvest by Evaluating Their Current Hand Sanitizer Using Nine Key Criteria 3New analytical technology reveals 'nanomechanical' surface traits 2New analytical technology reveals 'nanomechanical' surface traits 3
... ... line of Spectrum benchtop laboratory equipment that is now available for the budget-conscious researcher ... baths, mini centrifuges, hotplates & magnetic stirrers for general sample preparation and laboratory mixing ... Gardena, ...
... ... general release , ... Charlottesville, VA, San Francisco, CA, New York, NY and Paris, France (PRWEB) January 8, ... software solution for managing and reporting aggregate spend. The company will be officially launching ...
... , , HAYWARD, Calif., Jan. 8 ... that it has obtained commitments from accredited institutional investors ... and warrants in a private placement. The financing was ... Great Point Partners along with participation from other existing ...
Cached Biology Technology:Spectrum Introduces New Line of Spectrum Branded Benchtop Laboratory Equipment 2OpenQ Announces openSpend for Physician Payment Sunshine Act Compliance 2Solta Medical to Raise $17.2 Million in Private Placement 2Solta Medical to Raise $17.2 Million in Private Placement 3Solta Medical to Raise $17.2 Million in Private Placement 4Solta Medical to Raise $17.2 Million in Private Placement 5
(Date:8/28/2014)... Research Careers) Program has announced the travel award recipients ... 18 22, 2014 in San Diego, California. ... students, post doctorates and scientists from underrepresented groups into ... encourage the participation of young scientists at the American ... 16 awards totaling $29,600., The FASEB MARC Program is ...
(Date:8/28/2014)... developmental on-off switch for Streptomyces , a group ... the world,s naturally derived antibiotic medicines. , Their ... possible to manipulate this switch to make nature,s antibiotic ... 28 in Cell , found that a unique ... larger protein called BldD ultimately controls whether a bacterium ...
(Date:8/28/2014)... method for measuring and imaging how quickly blood flows ... understand how drug abuse affects the brain, which may ... lead to better treatment options for recovering drug addicts. ... from Stony Brook University in New York, USA and ... in The Optical Society,s (OSA) open-access journal ...
Breaking Biology News(10 mins):Small molecule acts as on-off switch for nature's antibiotic factory 2Small molecule acts as on-off switch for nature's antibiotic factory 3This is your brain's blood vessels on drugs 2This is your brain's blood vessels on drugs 3
... flying in chevron formation or cyclists learned the value of ... their spores so as to spread them as high and ... Sclerotinia sclerotiorum , spews thousands of spores nearly simultaneously to ... even creates a wind that carries many of the spores ...
... to clean water and environmental causes, his dedication as ... the pursuit of discovery, Professor Xiaoguang Meng received an ... Technology at the university,s annual Convocation Ceremony on September ... Charles V. Schaefer, Jr. School of Engineering and Science, ...
... is now open to the press for the ... of America (ESA) and National Education Association, with ... October 14-15, 2010 in Washington, D.C. The summit ... educators, scientists, and policy professionals from a wide ...
Cached Biology News:Fungal spores travel farther by surfing their own wind 2Fungal spores travel farther by surfing their own wind 3Fungal spores travel farther by surfing their own wind 4Prof. Xiaoguang Meng receives honorary master of engineering from Stevens 2Prof. Xiaoguang Meng receives honorary master of engineering from Stevens 3Ecology and Education Summit to address environmental literacy 2
... units/µL ,• High specific activity and processivity ... 'A' overhang ,• Processes ... high activity in primer extension and other ... of the enzyme, each lot has been ...
Recombinant DNA polymerase from Thermus aquaticus expressed in E. coli; 5 units/L; 1 tube of 1, 000 units enzyme/tube w/Buffer II and MgCl2...
... 5 units/µL ,• High specific activity and ... an 'A' overhang ,• Processes ... high activity in primer extension and other ... of the enzyme, each lot has been ...
Recombinant DNA polymerase from Thermus aquaticus expressed in E. coli; 5 units/uL; 25 tubes of 1, 000 units enzyme/tube w/ Buffer I...
Biology Products: