Zelegent Acquires MISH Technology Platform from Valam Corp to Advance Minimally Invasive Solutions for Sleep Disorders

On October 24, 2019, VCBeat (WeChat ID: vcbeat) learned from foreign media reports that medical device company Zelegent announced the acquisition of the MISH technology platform from Valam Corp.

Zelegent to Obtain Global Exclusive Rights to MISH from Valam Corp., with Specific Acquisition Terms Undisclosed

Zelegent is a medical technology company founded by multiple sleep disorder specialists, with the aim of developing tools for treating sleep disorders. The company has grown and thrived at EvoNexus, a premier business incubator in Southern California. Its mission is to develop and provide minimally invasive devices that effectively alleviate snoring and snoring-related sleep disorders.

Following the acquisition of MISH, Zelegent obtained the rights to develop a new preclinical product line aimed at treating obstructive sleep apnea (OSA). Zelegent’s existing product line, the Elevo Snoring Intervention Kit, is used by physicians to treat primary snoring, defined as disruptive snoring in patients without obstructive sleep apnea. The MISH technology platform is designed to provide an alternative to existing therapies for the treatment of OSA.

MISH is the acronym for Minimally Invasive Suspension of the Hyoid. Hyoid suspension is currently a method for treating obstructive sleep apnea and has its own reimbursement code. Compared with existing hyoid suspension products, MISH is less invasive because it does not involve an external neck incision, requiring only a needle puncture site.

“Unlike existing hyoid suspension devices, the MISH procedure does not involve permanent implants. The components used for hyoid suspension in the MISH procedure are fully absorbable after implantation. The MISH procedure aligns with the theme of Zelegent’s first product line, the Elevo Set,” said Alexander K. Arrow, M.D., CEO of Zelegent.

The commercially launched Elevo Set and the earlier-developed MISH platform constitute synergistic product lines for Zelegent, for the following reasons: (1) they are designed for the same physician point of care (sleep disorder specialists); (2) both involve absorbable barbed implants; (3) they can be manufactured using nearly identical supply chains, thereby reducing costs; and (4) both systems aim to provide physicians with a range of minimally invasive options to help patients alleviate snoring and obstructive sleep apnea syndrome.

Ron Hadani, CEO of Valam Corp., stated, “Implants are never needed if they can be avoided. Given Zelegent’s recent success with the Elevo Set, we are pleased that MISH will be developed and commercialized by Zelegent. As a new shareholder in Zelegent, Valam Corp. will support Zelegent throughout the development of its product portfolio.”

Valam Corp. is a U.S.-based developer of biopharmaceuticals. The company was initially established to conduct research and development on light-activated antimicrobial agents and biofilm-disrupting therapies. Following a revision of its business strategy and plans in 2016, the company has been acquiring specific technologies and products, with the goal of becoming the exclusive commercial provider of clinical solutions and procedures focused on the ear, nose, and throat (ENT) market. Valam has established a strong and internationally renowned board of directors and is assembling a new executive team dedicated to the company’s success.

(Compiled by Wang Fang)