May 2, 2020
Venus Medtech Partners With Opus Medical Therapies to Develop Transcatheter Valve Technology for the Greater China Market
May 2, 2020— Venus Medtech (Hangzhou) Inc., a Chinese transcatheter heart valve company, and Opus Medical Therapies, LLC, an Atlanta, Georgia–based medical device company focused on developing transcatheter mitral valve replacement (TMVR) and transcatheter tricuspid valve replacement (TTVR) products, announced a partnership agreement to develop, manufacture, and sell these TMVR and TTVR devices in Greater China.
“It is [of] utmost importance to us that our devices can save more patients and improve their quality of life,” commented Eric Zi, CEO of Venus Medtech, in the announcement. “The cooperation with Opus Medical Therapies will enable Venus Medtech to achieve full coverage from functional mitral regurgitation to degenerative regurgitation on the basis of its own product line and will greatly accelerate the clinical use of tricuspid valve replacement technology. No other company offers this all-valves solution in China and Asia.”
Vivek Rajagopal, MD, founder and CEO of Opus Medical Therapies, added, “Venus has established a dominant position in the China TAVR market with its exceptionally safe and effective platform. Because of my cofounders, Jaime Sarabia and Yen Liao, and the rest of the Opus team, we have extensive preclinical and clinical experience in the TMVR and TTVR space. With the depth of our experience and Venus’ support, we believe that this partnership will result in furtherance of Venus’s pipelines, which have great potential market size globally. This partnership also provides us the opportunity to make an impact in the fast-growing structural heart space in an extraordinarily important geographic market. With Venus as our partner, we also hope to make an impact in the rest of the world.”
In 2017, Venus Medtech announced Chinese NMPA regulatory approval for the Venus A-Valve TAVR device and its commercialization in China.