Edwards Lifesciences announces exclusive right to acquire Corvia Medical, Inc.

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IRVINE, Calif., — Edwards Lifesciences Corporation EW, -0.99% the global leader in patient-focused innovations for structural heart disease and critical care monitoring, today announced two strategic transactions involving companies with structural heart disease technologies.

Edwards has invested $35 million in an exclusive right to acquire Corvia Medical, Inc., the developer of the world’s first transcatheter device designed to treat heart failure with preserved or mid-range ejection fraction. The company’s InterAtrial Shunt Device is designed to provide continuous and dynamic decompression of the left atrium, which may reduce symptoms and slow the progression of heart failure.  The therapy has received CE Mark in Europe and is being studied as part of a Food and Drug Administration pivotal clinical trial. 

Separately, Edwards has also acquired certain assets of Mitralign, Inc., including intellectual property and associated clinical and regulatory experience.  Mitralign is a developer of an investigational transcatheter annuloplasty system designed to treat functional mitral and tricuspid regurgitation. 

Additional terms of these transactions remain confidential. Today’s announcement is not expected to impact Edwards’ 2019 financial guidance.

About Edwards Lifesciences
Edwards Lifesciences, based in Irvine, Calif., is the global leader in patient-focused medical innovations for structural heart disease, as well as critical care and surgical monitoring. Driven by a passion to help patients, the company collaborates with the world’s leading clinicians and researchers to address unmet healthcare needs, working to improve patient outcomes and enhance lives.

This news release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements include, but are not limited to, statements regarding financial guidance, expected product benefits, transaction expectations, and other statements that are not historical facts. Forward-looking statements are based on estimates and assumptions made by management of the company and are believed to be reasonable, though they are inherently uncertain and difficult to predict. Our forward-looking statements speak only as of the date on which they are made and we do not undertake any obligation to update any forward-looking statement to reflect events or circumstances after the date of the statement.

Forward-looking statements involve risks and uncertainties that could cause results to differ materially from those expressed or implied by the forward-looking statements based on a number of factors, including but not limited to, unexpected delays or changes in clinical trials, regulatory approvals and product introductions, unanticipated outcomes of longer-term clinical experience with the new products, or unanticipated manufacturing, legal, quality or regulatory delays or issues. These factors are detailed in the company’s filings with the Securities and Exchange Commission including its Annual Report on Form 10-K for the year ended December 31, 2018. These filings, along with important safety information about our products, may be found at edwards.com. Edwards, Edwards Lifesciences, and the stylized E logo are trademarks of Edwards Lifesciences Corporation. All other trademarks are the property of their respective owners. This statement is made on behalf of Edwards Lifesciences Corporation and its subsidiaries

Related Article: Corvia Medical Announces Enrollment Of First Patients In Pivotal Trial Of The IASD® System II For The Treatment Of Heart Failure