CorQuests revolutionary technology is designed to enable cardiologists to take a unique access route directly to the patients left atrium and therefore has the potential to become a major breakthrough innovation for therapeutic indications such as mitral valve disorders and structural heart disease, conditions often linked to heart failure. Specifically, CorQuests novel heart access technology comprises a number of instruments which allows for quick, user friendly and easy trans-thoracic access to the heart, directly into the left atrium, ensuring a minimally invasive approach to deliver numerous existing therapeutic devices.

When CE-marked, the insertion of the heart access sheath into a patients left atrium will allow the deployment of catheters or other necessary instruments for use in the treatment of various indications such as mitral valve occlusion defects. As such, the market potential could be very significant as this new open access route could be used in many existing medical device applications.

Currently in the advanced pre-clinical development phase, Cardio3 BioSciences intends to progress the device through the appropriate clinical and regulatory approval processes, with the aim of obtaining CE mark approval by the end of 2016, which would allow commercialisation in Europe. The first indication to be targeted with the CorQuest technology is expected to be the repair or replacement of the mitral valve.

The CorQuest technology platform is fully complementary with Cardio3 BioSciences C-Cathez and C-Cure programs. The C-Cathez catheter could be passed through CorQuests sheath to deliver C-Cure into the myocardium when the traditional route via the aorta may lead to complications for the patient.

The acquisition of CorQuest and the development of these technologies will not significantly affect the Companys burn rate over the two coming years. However, the acquisition of an extra medical device with a potential to market by 2016, as well as other therapeutic applications, will enable the Company to create multiple short term value creation milestones for its shareholders.

Dr Christian Homsy, CEO of Cardio3 BioSciences, comments: As part of our business strategy of building further on our cardiovascular diseases expertise, we have been actively seeking to acquire technologies that complement our existing medical devices for treating severe heart conditions. This invention is truly novel and may solve one of the very significant issues in mitral valve repair for example. Indeed, today, mitral valve repair procedures require a convoluted access to the valve. This revolutionary technology allows a direct access to the valve, from above, without perforation of the inter-atrial wall or the apex of the heart. The development of this technology will enable Cardio3 BioSciences to build on its leadership position in innovative therapies and devices for cardiovascular diseases.

In addition to the heart access technology, Cardio3 Biosciences acquisition of CorQuest includes a line of medical devices and implants targeted at various structural heart diseases including atrial fibrillation and mitral valve diseases, which will further expand Cardio3 BioSciences cardiovascular therapeutic applications portfolio.

As the heart access sheath is an open technology, the market potential of this new route to the heart and its accompanying line of medical devices and implants could be significant in a global market of cardiac medical devices which is expected to total $65.6 billion in 2015, with an annual growth rate of 9.8%.

Georges Rawadi, VP Business Development at Cardio3 BioSciences comments: Over 20 million invasive cardiac procedures, involving devices, are performed worldwide on an annual basis. This potential new access route to the heart could be used in a substantial proportion of those.

Dr. Didier De Cannire, founder of CorQuest Medical Inc. and technology inventor, further adds:

Original post:
Cardio3 Biosciences Acquires CorQuest Medical Inc.

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