Edwards Lifesciences has announced it has exercised its option to acquire Innovalve Bio Medical, an early-stage transcatheter mitral valve replacement (TMVR) company, following its initial investment in 2017.
Since the 2017 investment, Innovalve has demonstrated progress in its programme with promising early clinical experience, Edwards Lifesciences said in a press release.
The acquisition enhances the company’s TMVR technologies to address large unmet structural heart patient needs and support sustainable long-term growth, the press release goes on to state. Innovalve will join the transcatheter mitral and tricuspid therapies (TMTT) product group, led by corporate vice president, Daveen Chopra.
“Building on our learnings of the complexity of mitral disease, we know there is a need for a differentiated range of therapies for these patients,” said Chopra. “Edwards’ Sapien M3 remains on track to become the first approved transfemoral TMVR system in Europe by the end of 2025. We believe the Innovalve technologies, paired with Edwards’ deep mitral expertise, will enable a TMVR platform that will expand the treatable population.”
The acquisition is expected to close by the end of 2024.
The transaction comes after Edwards announced the sale of its Critical Care product group to BD in June, a move that it said would fund strategic growth investments in technologies for aortic, mitral, tricuspid and pulmonic patients, as well as new therapeutic areas for interventional heart failure.
