US-based monitoring solutions provider Edwards Lifesciences has purchased Harpoon Medical for a cash consideration of $100m.
Under the merger agreement, Harpoon is further eligible for up to $150m in pre-specified milestone payments over the coming ten years.
Harpoon Medical focuses on developing beating-heart repair solutions for degenerative mitral regurgitation (DMR).
The firm has designed a system for echo-guided repair of the valve regurgitation through stabilisation of the prolapsed mitral valve leaflet, restoring normal coaptation and valve function.
It is expected that the device could aid therapy during a minimally invasive beating-heart procedure, paving way for early treatment, quick recovery, less morbidity and consistent patient outcomes.
The investigational system is intended to support Edwards’ structural heart disease treatments and is set to obtain CE-Mark in the near future.
Edwards Lifesciences surgical heart valve therapy corporate vice-president Bernard Zovighian said: “We believe the addition of Harpoon Medical’s technology and talented team will enable even more opportunities to help patients with degenerative mitral regurgitation.
“The unique beating-heart repair procedure for mitral valve patients complements Edwards’ comprehensive portfolio of treatments for structural heart disease, and reinforces our commitment to innovation in cardiac surgery.”
Along with patient-focused solutions for structural heart disease, the firm develops critical care and surgical monitoring devices.
Through partnerships with various clinicians and researchers, the firm works towards addressing unmet healthcare needs with better patient outcomes and quality of life.