TSX Venture Exchange: NVC
VANCOUVER, Nov. 13, 2013 /CNW/ - Neovasc Inc. (TSXV: NVC) today
announced that the first patent covering the company's innovative
Tiara™ transcatheter mitral valve replacement technology has been
issued by the US Patent and Trademark Office. The new patent protects
key aspects of the Tiara mitral valve prosthesis. It is the first
patent to issue from a portfolio of US and international patent
applications Neovasc has filed aimed at establishing an extensive
intellectual property estate covering the entire Tiara program,
including the prosthesis, delivery system, associated accessories and
methods of use. Tiara is in development for the treatment of severe
mitral valve disease.
"The issuance of this first patent in the Tiara portfolio represents a
significant milestone for the company," said Alexei Marko, CEO of
Neovasc. "With this key intellectual property protection now assured
and the successful completion of the majority of our preclinical
studies, Neovasc is advancing the Tiara development program according
to plan. We are working with the highly respected medical teams at
Vancouver's St. Paul's Hospital and the Antwerp Cardiovascular Center,
ZNA Middelheim to plan the first-in-human Tiara trials, which we expect
to get underway in 2014."
Tiara is a self-expanding bioprosthesis specifically designed to treat
mitral valve regurgitation (MR), a serious and poorly served condition
that requires development of highly specialized devices to address the
complex mitral anatomy. Severe mitral regurgitation can lead to heart
failure and death. Conventional surgical treatments are only
appropriate for a small percentage of the millions of patients with MR,
including an estimated four million in the US alone.
Results from preclinical studies of Tiara were recently published in the
journal JACC: Cardiovascular Interventions and presented at the 25th Annual Transcatheter Cardiovascular Therapeutics (TCT) scientific
US Patent No. 8,579,964, "Transcatheter Mitral Valve Prosthesis," was issued by the US Patent and Trademark Office on November 12, 2013.
About Neovasc Inc.
Neovasc Inc. is a specialty medical device company that develops,
manufactures and markets products for the rapidly growing global
cardiovascular marketplace. Its products include the Neovasc Reducer™
for the treatment of refractory angina and the Tiara™ transcatheter
mitral value replacement device in development for the treatment of
mitral regurgitation. In addition, Neovasc's advanced biological tissue
products are widely used as key components in a variety of third-party
medical products, such as transcatheter heart valves. For more
information, visit: www.neovasc.com.
Statements contained herein that are not based on historical or current
fact, including without limitation statements containing the words
"anticipates," "believes," "may," "continues," "estimates," "expects,"
and "will" and words of similar import, constitute "forward-looking
statements" within the meaning of the U.S. Private Securities
Litigation Reform Act of 1995. Such forward looking statements involve
known and unknown risks, uncertainties and other factors that may cause
the actual results, events or developments to be materially different
from any future results, events or developments expressed or implied by
such forward-looking statements. Such factors include, among others,
the following: general economic and business conditions, both
nationally and in the regions in which the Company operates; history of
losses and lack of and uncertainty of revenues, ability to obtain
required financing, receipt of regulatory approval of product
candidates, ability to properly integrate newly acquired businesses,
technology changes; competition; changes in business strategy or
development plans; the ability to attract and retain qualified
personnel; existing governmental regulations and changes in, or the
failure to comply with, governmental regulations; liability and other
claims asserted against the Company; and other factors referenced in
the Company's filings with Canadian securities regulators. Although the
Company believes that expectations conveyed by the forward-looking
statements are reasonable based on the information available to it on
the date such statements were made, no assurances can be given as to
the future results, approvals or achievements. Given these
uncertainties, readers are cautioned not to place undue reliance on
such forward-looking statements. The Company does not assume the
obligation to update any forward-looking statements except as otherwise
required by applicable law.
SOURCE: Neovasc Inc.
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