Italian Cardio device company Sorin Group has announced that it is to make a $20 million minority investment in Respicardia, a developer of implantable therapies to improve Respiratory Rhythm Management™.
Background
Central sleep apnea (CSA) adversely affects patients’ overall cardiovascular health, yet is still a largely undertreated condition affecting over five million patients worldwide. Over one third of heart failure patients suffer from CSA with many patients experiencing a worsening of heart failure symptoms and an increased risk of death. There is a significant unmet clinical need for more effective therapeutic solutions to better manage patients with CSA.
Respicardia has developed the first fully implantable device for the treatment of CSA. The remedē® System is a pacemaker-like device that delivers electrical pulses via an implantable transvenous lead to the phrenic nerve which restores a more natural, less disrupted breathing pattern. The remedē® System received CE Mark approval in 2010 and is currently being evaluated in an FDA approved randomized, controlled IDE pivotal trial.
Sorin’s $20 million initial investment in Respicardia will finance on-going clinical testing of the technology. The company says this investment represents an ideal complement to its innovative therapeutic solutions for heart failure patients.
Under the terms of the transaction, Sorin has also acquired the exclusive right to distribute the remedē® System for the next five years in selected countries in Europe and an exclusive option to acquire Respicardia in the future. Respicardia is based in Minneapolis, Minnesota (USA).
Company comments
for Sorin
“Sorin Group is excited to support, through this partnership with Respicardia, the development and commercialization of an innovative technology that has the potential to revolutionize the treatment of patients with central sleep apnea,” said André-Michel Ballester, CEO, Sorin Group, “Together with our CRM devices and our neuromodulation platform under development, this investment further demonstrates our commitment to developing innovative solutions for heart failure patients.”
for Respicardia
“We are delighted to have Sorin Group, a leading European cardiovascular medical device company, as our strategic partner, given our complementary expertise and shared commitment to treating central sleep apnea, a significant co-morbidity for heart failure patients. Together, we look forward to providing patients with the unique and innovative remedē® System,” said Bonnie Labosky, President and CEO of Respicardia.
Source: Sorin Group SpA., Business Wire
published: October 21, 2014 in: Cardio, Company News, Sorin