CardioKinetix hit another big milestone recently with news that the California company's heart failure treatment device has been successfully implanted in two patients in China. Asia is a pivotal part of the world for medical device companies right now, and China is the brass ring.
Surgeons in Beijing used the company's Parachute Ventricular Partitioning Device, which they implant through a catheter inserted into the femoral artery in order to combat heart failure caused by damage to the heart muscle after a heart attack.
While two implants aren't very many, they are the beginning of many more to come, as Asia offers a major point of expansion for CardioKinetix. CardioKinetix notes that China has faced a rapid increase in cardiovascular disease, creating a need for better heart failure treatment options. And so CardioKinetix is positioning itself for growth in a healthcare market already surging.
"China represents a key strategic opportunity for the company as we further our international expansion," CardioKinetix CEO Maria Sainz said in a statement.
Parachute has had a CE mark since 2011, though it is in the midst of clinical testing in the U.S. as an investigational device. In May, CardioKinetix delivered stellar updated clinical data at EuroPCR in Paris showcasing Parachute's utility. They found that the device was safe and effective in 91 patients with ischemic heart failure, demonstrating positive results in treating the left ventricle enlargement that can advance to repeat heart failure. In August 2013, CardioKinetix reported its Parachute device was successfully implanted into four Malaysian patients.
In February 2013, CardioKinetix completed a $44 million Series E round with a $23 million second tranche. The money was slated to propel both clinical testing and market expansion.
- read the release
Special Report: 2012 Fierce 15 - CardioKinetix