January 28, 2015 — Neovasc Inc. has commenced a public offering in the United States of 8 million shares of the company to raise money for upcoming U.S. clinical trials and development of its transcatheter mitral valve and treatment system for refractory angina.
Neovasc is a specialty medical device company that is developing the Tiara transcatheter mitral valve replacement device and the Neovasc Reducer for the treatment of refractory angina. It also has a line of advanced biological tissue products that are used in third-party medical products including transcatheter heart valves.
The company intends to use the net proceeds of the offering to complete the TIARA-I Feasibility Study; to initiate a U.S. investigational device exemption study for Tiara; to further develop and refine Tiara; advance the commercialization of Reducer in Europe and to initiate a U.S. investigational device exemption study for Reducer.
For more information: www.neovasc.com