WEST BRIDGEWATER, Mass., July 10, 2012 /PRNewswire/ -- Cardiosolutions, Inc. an early-stage company focused on the development of an innovative percutaneous system to treat patients with moderate to severe mitral valve regurgitation, today announced it has received a minority investment from Sorin Group (Reuters Code: SORN.MI), a global medical device company and an international leader in the treatment of cardiovascular disease.
Cardiosolutions' technology consists of a proprietary catheter delivery system and an implant, the Mitra-Spacer™. This implant is designed to fill the void created by a dilated annulus or deteriorating valve mechanism providing a sealing surface for the leaflets of the mitral valve, thus reducing the degree of mitral regurgitation in patients.
This cutting-edge technology represents a less invasive, percutaneous solution for patients who suffer from moderate to severe mitral regurgitation, including a portion of those who have congestive heart failure. Today two to three percent of the world's population suffers from mitral regurgitation and approximately 2.3 million patients in the US and Europe suffer from severe mitral regurgitation. Every year approximately 500,000 new patients are diagnosed with this disease, of which over 80% are untreated. A substantial group of patients have no option because they are too sick to survive the surgery and many others delay treatment because they have only moderate symptoms. All these patients could benefit from a less invasive solution.
Sorin's $8 million investment will finance on-going product development and clinical testing of this technology. Under the terms of the agreement, Sorin also has an option to acquire the company in the future. Sorin Group joins STD Med and BioVentures Investors as an investor in Cardiosolutions.
"We are very pleased to have Sorin Group, a leading Global medical device company, as our strategic partner in Cardiosolutions.
|SOURCE Cardiosolutions, Inc.|
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