LUXEMBOURG - EQS Newswire - 3 February 2020 - Jean Boulle Medtech
Ltd. (the "Company"), founder of Tendyne Holdings, Inc. ("Tendyne") and a Jean
Boulle Group (the "Group") company developing medical technologies that save
lives, is pleased to announce that the Tendyne transcatheter mitral heart valve
implant which it developed has received CE Mark approval from the European Union.
This heart valve implant will now be available throughout the
European Economic Area to patients with mitral regurgitation ("MR"). MR is the
most common disease affecting heart valves and is a debilitating,
progressive and life-threatening condition in which the heart's mitral valve
does not close completely, causing blood to flow backward and leak into the
left atrium of the heart. Left untreated, MR can lead to heart failure and
Implanted in a beating heart, the Tendyne valve enables a significantly
less invasive procedure for mitral valve treatment than open heart surgery.
Traditional open-heart valve surgery is highly invasive, requiring the surgeon to make a 6 to 8 inch incision along the middle of the chest, cutting through the breastbone and stopping the heart in an operation lasting approximately 8 hours, with significant intensive care required during recovery in hospital and subsequent weeks at home. By comparison the Tendyne valve procedure lasts around 1.5 hours with patients expected to be discharged from hospital within 3 days. Current trial results have shown a high level of procedural safety with 98.9% of Tendyne patients in this very ill patient group experiencing elimination of MR at discharge and through one-year after discharge.
Commenting on today's announcement, Mr Jean-Raymond Boulle,
Chairman and CEO of the Group said:
"I am delighted that the Tendyne team behind the breakthrough mitral
valve can today reflect on the thousands of lives which will be transformed for
the better. Patients with MR in Europe can now avoid open-heart surgery and receive
treatment for what otherwise would be an inoperable condition."
"Our mitral valve invention will lead to massive associated
reductions in the treatment and costs of care borne by patients, healthcare
providers and insurers in this billion-dollar healthcare segment."
"Tendyne's success story illustrates the foresight, skills,
determination and investment commitment of the Jean Boulle Medtech team. We
continue to innovate and to support world class physicians and engineers at
research and development facilities in Minnesota and New York U.S.A. as well as
in Austria and Holland."
Details of Jean Boulle Group's Tendyne Acquisition by Abbott Laboratories
In September 2015 the Jean Boulle Group announced that an
agreement had been reached for Abbott Laboratories (NYSE: ABT) ("Abbott") to acquire
Tendyne from Jean Boulle Medtech Ltd and other Tendyne shareholders for a total
consideration of US$400million excluding Abbott's existing 10% of the company.
Abbott paid an initial US$250 million under the terms of the acquisition
and agreed to two future payments totaling US$150million contingent upon meeting
certain regulatory requirements, as well as completing a designated number of
successful transcatheter mitral valve replacements in patients.
Jean Boulle Medtech's range of medical technologies
Tendyne's global success underlines Jean Boulle Medtech's strategy
and its technical and commercial expertise. CE Mark approval for Tendyne
confirms the Company's ability to invent or discover breakthrough technologies,
accelerate their development and to achieve a successful exit once their potential
is proven. Jean Boulle Medtech continues to explore and develop new technologies
in a range of life saving areas of medicine.
Jean Boulle Medtech founded VDYNE, a medical device company
focused on the development of a transcatheter replacement valve to treat
patients suffering from tricuspid regurgitation ("TR"). VDYNE is currently
undertaking late stage pre-clinical testing, including the completion of good
laboratory practice compliance and a range of mandatory pre-clinical testing
VDYNE is targeting first-in-man chronic feasibility studies in the
first quarter of 2021.
Jean Boulle Medtech founded Trained Therapeutix Discovery ("TTxD").
Under an exclusive license from the Ichan School of Medicine at Mount Sinai TTxD
is developing nanobiologics that regulate the innate immune system to effectively
treat cancer and other major diseases.
Notes to Editors:
The Tendyne™ TMVI is a fully
retrievable and repositionable, apically tethered tri-leaflet porcine pericardial
valve sewn onto a nickel-titanium frame specifically designed to address the
complex mitral anatomy of functional, degenerative and mixed etiology mitral
regurgitation. The Tendyne™ TMVI system can
adapt to a range of patient anatomies thanks to its innovative and unique
design. The self-expanding valve is delivered through a small incision in the
chest and up through the heart where it is implanted in a beating heart,
replacing the person's native mitral valve. Left untreated, mitral
regurgitation can lead to heart failure and death. Implanted in a beating
heart in a hybrid operating room, the Tendyne™ valve permits a significantly less
invasive procedure to mitral valve treatment than open heart surgery.
Nearly one in ten people aged over 75 have moderate to severe mitral
regurgitation and the condition can raise the risk of irregular heartbeats,
stroke and heart failure. Patient outcomes have been positive with the Tendyne™
system successfully implanted in 97 of the first 100 patients.
Global trial results to date have demonstrated excellent
procedural safety and have shown 98.9% of Tendyne™ patients experienced MR
elimination at discharge which was sustained through one-year in this very sick
Structural heart conditions affect
millions of adults and thousands of newborns each year,. The structural heart
medical device market represents the largest, fastest-growing cardiovascular
device market opportunity today and forecasted to
be $10+ billion by 2025. The transcatheter mitral repair and replacement market
alone is projected to become a multi-billion dollar opportunity by 2025.
Micro Interventional Devices.
 Source: Based on analyst projections including current and future