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27 Wormwood Street
Boston, MA 02210 USA
phone:(617) 737-0930
fax:(617) 737-0924
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| Symbol |
NMTI |
| Exchange |
Nasdaq |
| Founded |
1986 |
| Employees |
99 |
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| www.nmtmedical.com
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| Research Sector |
Medical Devices & Tech |
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| Summary Description |
| Implant technologies to treat cardiac sources of stroke. |
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| Management |
| Frank Martin, President & Chief Executive Officer; Richard E. Davis, Chief Operating Officer; James J. Mahoney Jr., Chairman; Daniel F. Hanley, Director; John E. Ahern, Director |
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| Recent Results |
| For the first quarter ended March 31, 2006, total revenues increased 32% to approximately $6.9 million. The company reported net income of approximately $12.8 million for the quarter. |
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| Keywords |
| cardiologists, catheter-based, ischemic, migraine, bioabsorbable |
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| Description |
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NMT Medical develops and markets implant technologies that allow interventional cardiologists to treat cardiac sources of migraine headaches, stroke and other potential brain attacks through minimally invasive, catheter-based procedures. |
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| Products / Services |
NMT Medical designs and develops implants to seal the PFO defect in a minimally invasive, catheter-based procedure performed by an interventional cardiologist.
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| Technology / Differentiation |
| Technology pioneered by NMT Medical allows non-surgical closure of defects in the walls of the chambers of the heart. Treatment to prevent embolic stroke has traditionally required a drug regimen of anticoagulants (blood thinners), which prevent the blood from clotting and therefore may impose significant lifestyle restrictions on patients. With NMT's CardioSEAL and STARFlex devices, closure of the PFO can be achieved with a non-surgical procedure which typically lasts less than an hour with results lasting a lifetime. |
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| Market / Customers |
The prevalence of migraines in the United States is about 10%. Of the 28 million migraine sufferers in America, those who experience aura and have a PFO may represent a 3 million patient subset. Stroke is the third leading cause of death in the United States and the leading cause of disability in adults. Each year, 750,000 Americans suffer a new or recurrent stroke and 500,000 Americans experience a TIA.
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| Competitors / Substitutes / Alternatives |
Three companies, AGA Medical Corp. (AGA), W. L. Gore and Cardia, Inc., have developed devices that compete with CardioSEAL and STARFlex. Competitors in the vascular stent market include Johnson & Johnson, Guidant and Medtronic.
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| Strategy |
In November 2004, the Company received approval in the United Kingdom for the MIST study, the first prospective, randomized, double-blinded study to evaluate the effectiveness of transcatheter closure of a PFO, using the Company's STARFlex septal repair technology, in the treatment and prevention of migraine headaches.
CLOSURE I, for which NMT Medical received IDE approval from the FDA in June 2003, is a controlled clinical trial designed to evaluate the safety and efficacy of its STARFlex septal closure system versus medical therapy in patients who have had a stroke and/or a TIA due to a presumed paradoxical embolism through a PFO.
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| Funding |
| The company anticipates ending 2006 with $27 million to $30 million in cash, cash equivalents and marketable securities. |
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| Status |
| STARFlex and CardioSEAL are both commercially available in Europe. CardioSEAL is available under HDE (humanitarian device exemption) in the USA. STARFlex is an investigational device in the US and is only available to patients in the CLOSURE I PFO, stroke and TIA clinical trial. |
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Additional Information |
| The company also serves the pediatric interventional cardiologist with a broad range of cardiac septal repair implants delivered with nonsurgical catheter techniques. |
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