October 14, 2020
Medtronic Partners With The Foundry to Develop Mitral Valve Repair Technology
October 14, 2020—Medtronic announced a partnership with The Foundry, a medical device company incubator based in Menlo Park, California, to invest in and create a company with the goal of developing a transcatheter mitral repair (TMVR) technology. The partnership, dating back to 2017, combines Medtronic’s leadership in structural heart and intellectual property with The Foundry’s track record of innovation in the field of TMVr and valve replacement.
According to the company, the arrangement provides for structured investment tranches from both Medtronic and The Foundry and includes an exclusive right for Medtronic to acquire the resulting company, Half Moon Medical, contingent upon the achievement of certain technical and clinical milestones.
Half Moon recently received FDA approval of an early feasibility study in patients with severe, symptomatic mitral regurgitation and expects first implants in the coming weeks. Half Moon Medical’s TMVR device is designed to restore function in a diseased mitral valve by filling the regurgitant orifice, creating a new coaptation surface for the native anterior leaflet. The device is fully repositionable and recoverable during deployment using a transfemoral delivery catheter.
Medtronic noted that the Half Moon device has the potential to complement its Intrepid transcatheter valve replacement system, which is currently being studied in the APOLLO pivotal trial. Additionally, Medtronic is enrolling early feasibility studies of the Intrepid transfemoral system that are designed to evaluate transseptal/transfemoral access of the Intrepid system in patients with either severe, symptomatic mitral or tricuspid valve regurgitation.