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February 24, 2022updated 24 Mar 2022 3:41am

Cardiovascular Systems and Innova Vascular partner on thrombectomy devices

CSI plans to purchase and commercialise the new thrombectomy devices from Innova Vascular.

Cardiovascular Systems (CSI) and Innova Vascular have signed a collaboration agreement for the development of a full line of new thrombectomy devices.

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Thrombectomy is an interventional procedure performed to remove blood clots from veins and arteries.

As part of the collaboration deal, CSI plans to purchase and commercialise new thrombectomy devices from Innova Vascular designed for the treatment of peripheral vascular diseases, including pulmonary embolism (PE) and deep vein thrombosis (DVT).

Their commercialisation will complement CSI’s portfolio of advanced technologies used for the treatment of cardiovascular disease.

The company aims to start commercialising a portfolio of clot retrieval and manual aspiration devices in its fiscal 2023, after obtaining regulatory clearance in the US.

These devices are used to treat peripheral vascular disease.

Later, the company plans to expand the indications to treat DVT and PE after additional clinical trials are concluded.

CSI chairman, president and CEO Scott Ward said: “The commercialisation of these thrombectomy devices will be an important addition to our growing pipeline of products.

“In total, developing novel drug-coated balloons, intravascular lithotripsy, mechanical circulatory support and thrombectomy devices target some of the fastest-growing segments within interventional cardiology.

“Supplementing our core orbital atherectomy devices with these technologies will greatly increase the number of patients we will reach while simultaneously expanding our total addressable market to over $18bn in the coming years.”

Under the agreement, the company has provided Innova with an undisclosed amount of funding for the development of thrombectomy devices.

Subject to the satisfaction of closing conditions, CSI will have exclusive rights to acquire the thrombectomy devices.

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Medical Device Industry Landscape In Asia-Pacific

GlobalData's APAC Medical Devices Industry Landscape – 2022 free study breaks down the APAC medical devices market by segment and region and includes insights on local and global competitors, pipeline product developments, clinical trials studies, and significant deals in the industry. The APAC medical device industry witnessed significant developments, launches, implementations, and adoption of new medical device technologies in the past decade, however the high cost of devices, regulatory hurdles, reimbursement pressure, and healthcare budget constraints have challenged market expansion across various territories and segments. APAC is the fastest growing regional market for medical device clinical trials, with China and Japan emerging as major clinical trial hotspots. The growth in medical device clinical trials in the APAC region is attributed to an increase in research partnerships between biopharma companies and clinical research organizations (CROs). This report also provides an in-depth analysis of the medical device market's opportunities and challenges, the influence of COVID-19 on the market, and government activities aimed to develop the APAC medical device market.
by GlobalData
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