Cardiovascular Systems (CSI) has partnered with Chansu Vascular Technologies (CVT) to develop novel peripheral and coronary everolimus drug-coated balloons (DCBs).
Under the terms of the agreements, CSI will provide milestone-based financing to CVT for the development of the DCBs. Under an acquisition option agreement, upon CVT’s completion of key technical and clinical milestones in the development programme, CSI will have exclusive rights and obligations to acquire CVT, subject to the satisfaction of closing conditions set forth in the agreement.
CVT, which is based in Sunnyvale, USA, develops peripheral and coronary DCBs using everolimus.
“The CVT DCBs will be designed to capitalise on the proven long-standing anti-restenotic benefits of everolimus for the treatment of patients with cardiovascular lesions,” comments CVT founder Philippe Marco in the company’s announcement. “This collaboration enables us to develop a new class of DCBs that we believe will improve patient outcomes.”
Ryan Egeland, chief medical officer of CSI, states: “This partnership is consistent with our strategic vision to develop an innovative portfolio of new products. We believe these next-generation DCBs will complement our current and growing portfolio of products for the treatment of complex coronary and peripheral disease. We are thrilled to be working with CVT in this partnership and are extremely confident that Dr Marco and his team’s extensive past DCB experience will prove invaluable in developing these next-generation DCBs.”