SurModics Recruits Abbott To Commercialize SurVeil Drug-Coated Balloon
Abbott will pay SurModics $25m upfront and up to $67m in milestones for the exclusive right to commercialization SurVeil worldwide.
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SurModics suspended the trial with their SurVeil drug-coated balloon in March after the US FDA sent a letter to physicians alerting them to possible safety problem with paclitaxel-coated devices. The company has updated the patient consent form and established a new patient follow-up program for the trial.
Drug-coated balloon (DCBs) catheters have become the latest weapon in the fight against peripheral artery disease in the US, although they have been in use in Europe for some time. While the number of procedures employing DCBs is still dwarfed by conventional angioplasty procedures, they are expected to grow at a much faster rate, fueling a market projected to reach $1 billion by 2020; meanwhile other procedures such as mechanical atherectomy are also expected to show significant growth.
Cardio Conversations: ‘Much More Than Just A Patch,’ iRhythm CEO Blackford Talks AI Arrhythmia Diagnostics
iRhythm CEO Quentin Blackford returned to Medtech Insight’s Cardio Conversations podcast to talk about the launch of his company’s new Zio monitor patch supported by a sophisticated neural network. He also addressed the company’s plans to improve its position in the mobile cardiac telemetry market, the impact of pulsed field ablation on the cardiac monitoring business, and more.