Business Wire

 Abiomed Acquires preCARDIA, a Breakthrough Medical Device Company, to Improve Outcomes for Heart Failure Patients

Share

Abiomed (NASDAQ: ABMD) has acquired preCARDIA, developer of a proprietary catheter and controller that will complement Abiomed’s product portfolio to expand options for patients with acute decompensated heart failure (ADHF). The preCARDIA system is uniquely designed to rapidly treat ADHF-related volume overload by effectively reducing cardiac filling pressures and promoting decongestion to improve overall cardiac and renal function.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210601005259/en/

Annually, more than one million patients are admitted to hospitals in the United States with ADHF. Despite available pharmaceutical treatments, heart failure is the leading cause of hospitalization in patients older than 65 years of age. preCARDIA provides heart failure specialists a minimally invasive solution with the potential to improve patient outcomes and lower the cost of care by providing early intervention with this new technology.

preCARDIA’s catheter-based system includes a proprietary superior vena cava (SVC) balloon that delivers programmed intermittent occlusion of the SVC. Potential benefits for patients include improved response to medical management of ADHF, reduced duration of hospital stay, reduced re-hospitalizations and improved quality of life. The system is based on an invention by Navin Kapur, MD, and Richard Karas, MD, PhD, at the Molecular Cardiology Research Institute at Tufts Medical Center in Boston.

The design of the preCARDIA system allows for straightforward placement by physicians and hemodynamic monitoring by medical staff. The system has received Breakthrough Device Designation by the U.S. Food and Drug Administration (FDA).

“Abiomed, with its mission of resting and recovering hearts, is uniquely positioned to build on the legacy of what we started,” said Lisa Wipperman Heine, president and chief executive officer at preCARDIA. “I am confident that the addition of our technology into Abiomed’s product portfolio will further improve outcomes for heart failure patients.”

preCARDIA completed enrollment of 30 patients in an FDA early feasibility study (EFS), which demonstrated acute technical success and significant reduction in cardiac filling pressures and rapid diuresis. Additionally, all patients were free of device- or procedure-related major adverse events through 30 days.

“Heart failure is a devastating condition associated with excess fluid overload known as congestion. preCARDIA is a breakthrough technology that regulates blood flowing into the heart known as preload, thereby reducing congestion and improving heart and kidney function,” said Navin Kapur, MD, physician-scientist and investigator in the Molecular Cardiology Research Institute at Tufts Medical Center, and the chief medical advisor and chair of preCARDIA’s Scientific Advisory Board. “This novel approach has the potential to be a revolutionary tool for the treatment of millions of patients suffering from acute heart failure worldwide.”

“We look forward to advancing preCARDIA’s technology through the regulatory process and expanding our relationship with heart failure specialists to help improve outcomes in early stage acute decompensated heart failure patients, a new patient population for Abiomed,” said Michael R. Minogue, Abiomed’s Chairman, President and Chief Executive Officer. “This acquisition aligns with Abiomed’s principles of leading in technology and innovation and putting patients first.”

The preCARDIA system is available for investigational use only and is not approved for use outside of clinical studies. A projected timeline for commercialization will be announced later this fiscal year.

ABOUT ABIOMED

Based in Danvers, Massachusetts, USA, Abiomed, Inc. is a leading provider of medical devices that provide circulatory support and oxygenation. Our products are designed to enable the heart to rest by improving blood flow and/or provide sufficient oxygenation to those in respiratory failure. For additional information, please visit: www.abiomed.com.

ABOUT preCARDIA

preCARDIA is dedicated to improving patients’ quality of life through pioneering clinically advanced technology that offers an alternative solution for physicians and their patients suffering from ADHF. preCARDIA’s current technology, a proprietary balloon catheter and pump controller, is designed to address ADHF through cardio-renal volume unloading via intermittent superior vena cava (SVC) occlusion.

The company was founded & incubated by MD Start and is headquartered in St. Paul, Minnesota, USA.

CAUTION: The preCARDIA System is an investigational device and is limited by Federal (or United States) Law to investigational use. For more information, please visit: www.precardia.com.

FORWARD-LOOKING STATEMENTS

Any forward-looking statements are subject to risks and uncertainties such as those described in Abiomed's periodic reports on file with the Securities and Exchange Commission. Actual results may differ materially from anticipated results.

To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.

Contact information

Sarah Lima
Communications Manager
978-882-8211
slima@abiomed.com

About Business Wire

For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.

Subscribe to releases from Business Wire

Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.

Latest releases from Business Wire

Walton Enters the Single-Family Build-to-Rent Market Using its 81,000 Acre Land Portfolio Throughout the U.S.23.6.2021 16:18:00 EEST | Press release

Walton Global Holdings has launched a build-to-rent (BTR) line of business that will leverage its more than 81,000 acres of land assets throughout the U.S. to create near-term opportunities for single-family home rental developments. Walton is a global real estate investment and land asset management company with US$3.4 billion under management making the company one of the largest pure-play residential landowners in North America. The launch of Walton’s BTR business provides the company with an immediate competitive advantage during a time when established land parcels are hard to come by for many organizations in this market. Walton’s core products have been pre-development land and land development for more than 42 years. Through its core business, Walton specializes in land acquisition to zoning and entitlements partnering with top national homebuilders throughout the U.S. Walton has already identified 17 near-term opportunities and is in advanced negotiations with a select group o

A European Leader in Retail for Automotive Launches Its Data Exchange Platform Powered by Dawex23.6.2021 16:00:00 EEST | Press release

Dawex, the leading data exchange and data marketplace technology company, today announced a European leader in retail for automotive has chosen Dawex technology to deploy its Data Exchange Platform to distribute, exchange and commercialize data products securely, in compliance with regulations. Relying on Dawex technology, the Data Exchange facilitates access to data products, accelerates data circulation and monetization, and orchestrates a data ecosystem. This data hub enables the entire sector to propose new services, improve productivity and efficiency, mitigate risk, and generate new revenue streams. Our customer’s Data Marketplace empowers participating organizations to build strong data partnerships where data providers and data acquirers benefit from the appropriate governance models to ensure participants remain in full control over the data they share, with whom they share it with, and for which usage. Dawex Data Exchange technology brings the technical, contractual, financia

Sevan Named Great Place to Work® 8 Years in a Row23.6.2021 16:00:00 EEST | Press release

For the eighth year in a row, Sevan Multi-Site Solutions, Inc. (Sevan), a leader in delivering innovative design, program management, construction services and data analytics to organizations with multiple sites, has been recognized as a Great Place to Work®. “Sevan’s culture focuses on people first, which is evident in our renewed status as a Great Place to Work®,” said Jim Evans, President and CEO of Sevan. “Our people are the heart and soul of our business, and their passion for excellence is the reason for our continued success with our clients.” This year a record 92% of Sevan’s team members participated in the Great Place to Work® survey, and over 90% surveyed say Sevan is a great place to work. These team members also say Sevan’s management is honest and ethical, the company contributes positively to the community and that Sevan is an organization they are proud to work for. “Certified companies put employees first,” said Michael C. Bush, CEO at Great Place to Work. “Thriving em

IDEMIA Brings Boarding Security to Los Angeles International Airport (LAX)23.6.2021 16:00:00 EEST | Press release

IDEMIA is facilitating a facial recognition system to help U.S. Customs and Border Protection (CBP) increase air passengers’ security and border control at Los Angeles International Airport (LAX), one of the busiest airports in the world. The technology has been deployed in LAX’s new West Gates at Tom Bradley International Terminal and is a one-stop safety solution for passengers, airlines, and airports alike. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210623005420/en/ (Photo: Business Wire) The deployment is part of a contract awarded by Los Angeles World Airports (LAWA) to EASIER, a leader in e-gate technology. In alignment with protection measures defined by the U.S. Congress, passengers will now get to experience a faster, more accurate, and touchless boarding experience. LAX is just one of multiple airports where IDEMIA’s facial recognition technology is deployed in conjunction with CBP and an example of the long-te

Leading Liver Disease Researchers Present at EASL International Liver Congress™ 2021, Demonstrate Prognostic Value of Echosens’ FibroScan-based Agile Scores for Patients with Liver Disease23.6.2021 15:53:00 EEST | Press release

Echosens, a high-technology company offering the FibroScan family of products, today announces that distinguished researchers will present studies supporting the value of FibroScan at EASL’s International Liver Congress, June 23-26, 2021. An area of focus will be FibroScan-based Agile scores to easily detect advanced fibrosis and cirrhosis in non-alcoholic fatty liver disease (NAFLD) patients. “Agile scores were built on a large and global pool of patient data and have been externally validated on two large cohorts of patients—one from France and one from the United States—to achieve this exceptional level of score development,” says Dominique Legros, Group CEO, Echosens. “These novel, noninvasive scores reduce the number of false positive cases compared to liver stiffness measurement (LSM) by vibration controlled transient elastography (VCTE™) alone, accurately predict liver complications and, in coming years, will identify patients eligible for pharmaceutical treatments.” Currently a

Sherlock Biosciences’ 221b Foundation Enables Global Access to COVID-19 Diagnostics with Up To 10 Million Tests Per Month23.6.2021 15:30:00 EEST | Press release

The 221b Foundation, a nonprofit organization established by Sherlock Biosciences to address the global COVID-19 pandemic while promoting diverse representation in STEM, today announced that its partnerships will increase COVID-19 diagnostic manufacturing capacity by up to 10 million tests per month by year-end. Through multiple license agreements this year with organizations including ALBOT Technologies, Cooper International, LogicInk, Rokline, United PPE and binx health, The 221b Foundation has enabled manufacturing and global distribution in the U.S., United Arab Emirates, India and Singapore, and is in discussions to expand beyond these geographies to increase access for vital diagnostic solutions around the world. The 221b Foundation was founded to aid in the fight against the global COVID-19 pandemic by enabling access to intellectual property associated with the company’s SHERLOCK™ CRISPR-based technology. Proceeds from third-party sales of SHERLOCK CRISPR COVID-19 products have

Tarjousasiakirja koskien Adapteo Oyj:n hallituksen suosittelemaa julkista käteisostotarjousta Adapteo Oyj:n osakkeenomistajille on julkaistu23.6.2021 15:00:00 EEST | Tiedote

Tämä tiedote ei ole suoraan tai välillisesti tehty tarjous Australiassa, Kanadassa, Hongkongissa, Japanissa, Uudessa-Seelannissa tai Etelä-Afrikassa, tai millään muulla alueella, jossa tarjous olisi sovellettavan lain vastainen. Osakkeenomistajat, jotka eivät ole Ruotsissa tai Suomessa ja jotka haluavat hyväksyä Ostotarjouksen (kuten määritelty alla) tulee tehdä omat selvityksensä soveltuvasta lainsäädännöstä ja mahdollisista veroseuraamuksista. Osakkeenomistajia kehotetaan tutustumaan ostotarjoukseen kohdistuviin rajoituksiin kohdassa ”Tärkeää tietoa” tämän tiedotteen lopussa sekä tarjousasiakirjassa. Yhdysvalloissa olevia osakkeenomistajia kehotetaan myös katsomaan osio ”Tietoja osakkeenomistajille Yhdysvalloissa” tämän tiedotteen lopussa ja tarjousasiakirjassa. LEHDISTÖTIEDOTE 23.6.2021 Palace Bidco Oy (“WSIP Bidco”), joka on West Street Global Infrastructure Partners IV, L.P.:n (“WSIP”) lukuun perustettu ja sen välillisesti kokonaan omistama yksityinen osakeyhtiö, julkisti 17.5.202

In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.

Visit our pressroom