NeoChord
Medical Devices & Tech
NeoChord Inc 11100 Bren Rd West
Minnetonka, MN 55343.
phone: 952-653-1305
fax:
Symbol Private
Founded 2007
Employees 3
Research Sector Medical Devices & Tech
Summary Description
Artificial Chordae Tendineae for Mitral Valve Repair
Management
John Seaberg, CEO; John Zentgraf, VP Research and Development; Sherry Poganski, Director Regulatory Affairs and Quality Control
Keywords
Cardiology, Cardiac, Mitral valve repair

Comment | Printable Version | Sept. 22, 2008
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Description
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.
Products / Services
NeoChord enables the use of minimally invasive surgical techniques for the 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.
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.
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.
Status
NeoChord raised $1,765,000 via a convertible debt offering in 2007 has been seeking $6.5 million in the Series A Institutional Round of Funding as of January 2008. The company's procedure was performed in two patients at the Mayo Clinic in 2006; both are reported to be in good shape in 2008. NeoChord is currently involved in discussions with the FDA regarding regulatory pathway and clinical trial parameters. It plans to commence a feasibility trial by the end of 2008.


2008-10-10-1392