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11100 Bren Rd West
Minnetonka, MN 55343 USA
phone:952-653-1301
fax:
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| Symbol |
Private |
| Founded |
2007 |
| Employees |
5 |
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| www.neochord.com
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| Research Sector |
Medical Devices & Tech |
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| Summary Description |
| Artificial Chordae Tendineae for Mitral Valve Repair |
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| Management |
| John Seaberg, CEO; John Zentgraf, VP Research and Development; Sherry Poganski, Director Regulatory Affairs and Quality Control |
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| Keywords |
| Cardiology, Cardiac, Mitral Valve Repair, Mitral Regurgitation |
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| Description |
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NeoChord develops technology intended to significantly improve the surgical repair of mitral valve regurgitation. The company has licensed novel technology invented by a cardiac surgeon during his time practicing at the Mayo Clinic. |
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| Products / Services |
NeoChord is commercializing a tool that enables the minimally invasive surgical implantation of artificial chordae tendineae, while the heart is still beating. During normal function, the chordae tendineae tether the mitral valve leaflets to ensure correct closure during ventricular contraction. Rupture of the chordae due to myocardial infarction or degenerative disease is a common cause of mitral leaflet prolapse and subsequent mitral regurgitation.
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| Technology / Differentiation |
| NeoChord's technology eliminates the need for a sternotomy (opening of the chest cavity via sawing of the sternum) and cardio-pulmonary bypass. This less invasive approach can provide less traumatic treatment for surgical patients with fewer complications. It will also allow patients with mitral regurgitation to be treated earlier in the course of their disease, eliminating or slowing the progression of mitral regurgitation into congestive heart failure. |
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| Market / Customers |
The market for less invasive techniques for mitral valve repair has been estimated at over $2 billion. There are 50,000 surgeries done annually and 250,000 new patients are diagnosed each year with mitral regurgitation in the U.S. alone. Additionally, there are over 2,000,000 U.S. patients with mitral regurgitation who have not been treated because the risks of current procedures are deemed too high compared to the severity of their disease.
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| Funding |
| On July 7th, NeoChord completed a $4.7ml Series A raise |
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| Status |
| Neochord is currently involved in discussions with the FDA regarding regulatory pathway and clinical trial parameters. The company is also meeting with consultants regarding adequate reimbursement for hospitals and doctors utilizing this technology. The company completed a $4.7ml Series A financing on July 7th, 2009 and will begin European clinical trials this summer. |
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Biotech & Specialty Pharma
Healthcare Services
Medical Devices & Tech
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