Sant Vicenç dels Horts (Barcelona), October 18th of 2018.- Today, the collaboration agreement between iVascular and NaviGate Cardiac Structures, Inc (NCSI) has been formalized, under which iVascular acquires 10% of shares of NCSI for 10 million dollars.
With this purchase, iVascular becomes part of the Board of Directors of the American company. Another shareholder of NCSI with 16% of the shares, is the prestigious Cleveland Clinic of the United States. The NCSI valved-based technology was licensed from Cleveland Clinic and further modified and developed by NCSI.
The mentioned agreement between both companies, contemplates the joint development of a new product: the tricuspid valve with percutaneous access. Clinical studies are currently underway in the United States and Europe to analyze the efficacy and safety of this valve, that is estimated to be ready for clinical application by 2020.
According to Mr. Lluís Duocastella, CEO of iVascular “With this agreement iVascular and NCSI become technological partners and each us will contribute with our know-how to the development of valves for the treatment of pathologies of the coronary structural system. As iVascular we are very proud that Navigate has seen our business model and decided that iVascular should be their partner in this project “.
iVascular will have the exclusive rights for the distribution and commercialization of NCSI’s products in Europe and Latin America.
“At the moment iVascular has consolidated in the market of devices for the coronary and peripheral system and soon we will bring our innovation to neurological devices. The agreement with NCSI will allow us to continue with our vertical integration model” said. – Lluís Duocastella.
To read a full interview with the CEO of iVascular (in spanish) go to La Vanguardia