HANGZHOU, China, May 23, 2018 /PRNewswire/ -- China Venus Medtech (Hangzhou) Inc. announced a partnership agreement for strategic investment and authorization with Keystone Heart. This agreement will grant Venus Medtech the right to exclusively develop, manufacture and sell the 3rd generation TriGUARD 3™ device and the next generation of cerebral embolic protection device in China and other major Asian markets. In March, 2017, Venus Medtech announced a partnership agreement to promote Venus Medtech's TAVR system, VenusA-Valve, in combination with Keystone Heart's 1st generation TriGuard™ Cerebral Embolic Protection Device in China and other major Asian markets. This new agreement shows that Venus Medtech further deepens its technical layout in the market of cerebral embolic protection and strengthens the strategic cooperation with Keystone Heart.
In February 2017, the association of neuroscience research (NeuroARC) officially issued guidelines to establish and provide standardized neurological endpoints for vascular clinical trials. The guide is published in the Journal of the American Cardiology and the European Heart Journal, and the guide also points out that more and more evidence shows "recessive" brain damage in patients receiving transcatheter aortic valve replacement (TAVR) and other cardiovascular surgery. This issue has been particularly prominent over the past 5 years. A total of 13 studies conducted in the US and Europe show that about 80% of patients develop new brain injury after TAVR. The NeuroTAVR study showed that 94% of the patients had new brain lesions after TAVR, and 22.6% of the patients had a new nerve injury after TAVR, and 41% of the patients had neurocognitive impairment within 30 days.
Eric Zi, co-founder and CEO of Venus Medtech said, "Venus Medtech is not solely focused on transcatheter valve products. We care about the entire TAVR procedure, the associated complications and overall patient's quality of life. The partnership with Keystone heart will make Venus Medtech the only provider for the holistic treatment encompassing "cerebral embolic protection - balloon - valve" in the global TAVR field. The further cooperation confirms the determination to provide a total solution, and again expresses confidence in the application of innovative technologies."
Chris Richardson, president and CEO of Keystone Heart, LTD commented, "By deepening the partnership with China's leading Heart Valve company, patients in this important geographic market are ensured access to innovative and future generations of cerebral embolic protection technologies from Keystone Heart."
Transcatheter Aortic Valve Replacement (TAVR) is a minimally invasive procedure conducted to repair a diseased aortic valve. With the increasing incidence of valvular degenerative lesions in the elderly, aortic valve calcification stenosis has become a common valvular heart disease in the elderly group. This group is severely symptomatic, suffers from poor recovery after surgery and presents a high mortality rate. For patients with high/intermediate -risk or with surgical contraindications, TAVR can be used as an effective treatment, with clear advantages of minimal trauma and quick recovery. Avoiding the risk of traditional open-chest surgery and cardiopulmonary bypass, TAVR is able to bring hope of rebirth to this group of patients.
China is the emerging market for TAVR procedure. VenusA-Valve, independently researched and developed by Venus Medtech, obtained CFDA's registration certificate in April 2017. It achieved the milestone as the first ever transcatheter aortic valve implant approved for commercial use in China. Experts estimate that more than 10,000 TAVR surgeries will be performed by 2020. And that the overall market will grow at a rate of 30% to 50% per year.
About Venus Medtech (Hangzhou) Inc.
Established in 2009, located in Hangzhou, Venus Medtech is committed to the technological development and commercial application of minimal invasive solutions for heart valves diseases. Venus Medtech is fully dedicated to research and development and boasts two leading technologies in the world: the pre-loading transcatheter valve system and the self-expanding transcatheter pulmonary valve system. The company has conducted a number of innovative studies and experiments, pioneering the clinical research in the field of transcatheter valve, implanting and testing Chinese heart valve devices in Europe, and establishing a heart valve Institute in China. For more information, visit http://www.venusmedtech.com/.
About Keystone Heart
Keystone Heart Ltd. is a medical device company developing and manufacturing cerebral embolic protection devices intended to reduce the risk of stroke, neurocognitive degeneration, and dementia caused by cerebral damage associated with cardiovascular procedures. Headquartered in Israel; Keystone Heart is dedicated to advancing patient care through innovative technology and clinical research. For more information, please visit: www.keystoneheart.com.
SOURCE Venus Medtech (Hangzhou) Inc.