According to a press release, CSI intends to acquire and commercialise novel thrombectomy devices from Innova targeting peripheral vascular disease, including deep vein thrombosis (DVT) and pulmonary embolism (PE).
Sanjay Shrivastava, CEO of Innova said: “We strive to bring solutions that are easy to use, safe, and highly effective in treating potentially devastating diseases. We are excited to partner with CSI, which has been serving the interventional cardiology, interventional radiology, and vascular surgery communities that will be the primary users of Innova products. CSI’s commercial presence in this space makes it an excellent fit for accelerating the commercialisation of Innova’s products post regulatory clearances.”
CSI claims that, pending regulatory clearance in the USA, the company could begin to commercialise a portfolio of manual aspiration and clot retrieval devices for the treatment of peripheral vascular disease in 2023. The portfolio and corresponding indications for use are expected to be expanded to include treatment of DVT and PE following the completion of subsequent clinical trials.
Scott Ward, chairman, president and CEO, 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 US$18 billion in the coming years.”
Under the terms of the agreements signed with Innova, CSI has provided financing to Innova for the development of thrombectomy devices. Under an acquisition option agreement, upon Innova’s completion of key technical, regulatory, and clinical milestones in the development programme, CSI will have exclusive rights to acquire the thrombectomy devices, subject to the satisfaction of closing conditions set forth in the agreement.