January 16, 2013 — CardioLogical Solutions, a new cardiovascular device company, announced it has initiated operations. CardioLogical Solutions represents the merger of two independent companies, Emboline and VasoStitch. Financial details of the merger were not disclosed. David W. J. Smith, previously president and CEO of VasoStitch, is CEO of the new business.
The large-hole access and closure technologies of VasoStitch and the aortic embolic protection technologies of Emboline form the initial core of a family of accessory devices offered by CardioLogical Solutions to address the clinical needs of emerging interventional cardiology procedures. Added to these is a novel approach to preventing contrast nephropathy during cardiovascular procedures. The technologies of CardioLogical Solutions are derived from intellectual property invented by serial entrepreneur Amir Belson, M.D., founder of NeoGuide Systems, Vascular Pathways, Zipline Medical, Thermocure and Radguard Medical.
“Recent developments in interventional cardiology have created compelling opportunities for new types of procedural accessory devices,” said Belson. “Specifically, the recent emergence of transcatheter aortic valve replacement (TAVR) therapies has created a critical need for non-surgical, large-hole (>12 French) access and closure technologies, aortic embolic protection devices for prevention of stroke and other ischemic complications, and prevention of contrast nephropathy. The combined potential of these markets, where there exists now a strong clinical need, is estimated at $2 to 3 billion annually, and this is the immediate focus of CardioLogical Solutions.”
“Merging these companies will both create cost-efficiencies and enhance the value of the combined enterprise,” added David W. J. Smith, CardioLogical Solutions CEO. “The broad portfolio of CardioLogical Solutions represents the most comprehensive range of accessory products for the TAVR community. Our technologies address the three biggest clinical needs in TAVR, with superior technologies and a broad intellectual property portfolio.”
CardioLogical Solutions is currently in the advanced stages of raising a Series B preferred round to achieve CE mark for the initial Emboline and VasoStitch products, and proof-of-concept for its contrast nephropathy technology. First commercial sales are estimated in the ninth calendar quarter following close of funding, beginning with the European launch of the first VasoStitch product, followed by the European launch of the first Emboline device approximately six months later.
CardioLogical Solutions’ products are not available for sale in the United States.
For more information: www.cardiologicalsolutions.com