Venus Medtech-B (02500.HK) Completes Acquisition of Mitraltech, Gaining Full Control of Cardiovalve

Original Title: Venus Medtech-B (02500.HK): Completion of MITRALTECH Equity Acquisition Source: Gelon.net

Gelonghui January 26th丨Venus Medtech-B (02500.HK) announced that the company has completed the acquisition of 100% equity in Cardiovalve through the purchase of equity in Mitraltech, the parent company of Cardiovalve, and the subscription of convertible loans. The acquisition was completed on January 25, 2022. Cardiovalve has now become an indirectly wholly-owned subsidiary of the company.

According to the disclosure, Cardiovalve was founded in 2010 and is headquartered in Israel. Its self-developed Cardiovalve system is an innovative transcatheter valve replacement system capable of treating both mitral regurgitation and tricuspid regurgitation. Compared with similar products, its femoral vein access approach significantly enhances treatment safety. The system’s 55mm large annulus design is suitable for approximately 95% of the patient population, while its unique short stent design effectively reduces the risk of left ventricular outflow tract obstruction.

Currently, the Cardiovalve system is undergoing multicenter clinical trials in the United States and Europe, with preliminary clinical results showing promise. The treatment for mitral regurgitation has entered the clinical research stage in Europe and the early feasibility study stage in the United States. Additionally, for the treatment of tricuspid regurgitation, Cardiovalve was granted the "Breakthrough Device" designation by the U.S. FDA in January 2020 and has moved into the early feasibility study phase. Cardiovalve is the first company to receive U.S. FDA approval to conduct early feasibility studies for both mitral and tricuspid regurgitation indications simultaneously.

The Board firmly believes that Cardiovalve has significant synergies with the company's existing product portfolio, which will help solidify Venus Medtech's leading position in the field of structural heart disease in China and globally. Meanwhile, the introduction of the Cardiovalve system will accelerate the company's international innovation efforts, laying a solid foundation for future entry into mainstream international markets.