Neovasc Announces First Neovasc Reducer™ Implants in France
December 15 2020 - 7:00AM
via NewMediaWire -- Neovasc Inc. ("Neovasc" or the "Company")
(NASDAQ, TSX: NVCN) announced today that it has completed the
first three Neovasc Reducer™ (“Reducer”) implants in France. The
implants are an important step for Neovasc as the Company continues
to expand access for Reducer therapy to patients suffering from
refractory angina.
The implants were conducted by Prof. Martine Gilard, Director of
Interventional Cardiology, and Prof. Romain Didier, Brest
University Hospital, France. Prof. Stefan Verheye, Interventional
Cardiologist at the Antwerp Cardiovascular Center in Middelheim,
Belgium, provided support for the procedures. “Refractory angina is
a difficult burden for many French patients despite medical therapy
or invasive procedures,” said Prof. Gilard. “I’m gratified that we
were able to offer the Reducer treatment for the first time in
France.”
“France is one of the largest markets in Europe,
and it represents a meaningful growth opportunity for Reducer,”
commented Fred Colen, President and Chief Executive Officer of
Neovasc. “We are currently navigating the reimbursement process for
the therapy in the country, and plan to commercialize Reducer more
broadly in France through a direct sales force upon reimbursement
approval.”
The Reducer is a wire mesh implanted into a vein in the heart.
It provides relief of angina symptoms by altering blood flow within
the myocardium of the heart and increasing the perfusion of
oxygenated blood to ischemic areas of the heart muscle. Placement
of the Reducer is performed using a minimally invasive transvenous
procedure that is similar to implanting a coronary stent and is
completed in approximately 20 minutes.
The Reducer is CE-marked in the European Union for
the treatment of refractory angina.
About Neovasc Inc.
Neovasc is a specialty medical device company that
develops, manufactures and markets products for the rapidly growing
cardiovascular marketplace. Its products include Reducer, for the
treatment of refractory angina, which is not currently commercially
available in the United States and has been commercially available
in Europe since 2015, and Tiara™ for the transcatheter treatment of
mitral valve disease, which is currently under clinical
investigation in the United States, Canada, Israel and Europe. For
more information, visit: www.neovasc.com.
Investors
Mike Cavanaugh
Westwicke/ICR
Phone: +1.646.877.9641
Mike.Cavanaugh@westwicke.com
Media
Sean Leous
Westwicke/ICR
Phone: +1.646.677.1839
Sean.Leous@westwicke.com
Forward-Looking Statement Disclaimer
Certain statements in this news release contain
forward-looking statements within the meaning of the U.S. Private
Securities Litigation Reform Act of 1995 and applicable Canadian
securities laws that may not be based on historical fact.
When used herein, the words "expect", "anticipate", "estimate",
"may", "will", "should", "intend," "believe", and similar
expressions, are intended to identify forward-looking statements.
Forward-looking statements may involve, but are not limited to, our
ability to commercialize Reducer or otherwise expand its use or
access to Reducer therapy, the Company’s ability to navigate the
complex reimbursement process in France, the Company's ability to
build on progress and optimizing the value of its devices, the
expansion of its product range, growth opportunities in France or
otherwise in Europe, prospects for regulatory approvals and the
growing cardiovascular marketplace. Forward-looking statements are
based on estimates and assumptions made by the Company in light of
its experience and its perception of historical trends, current
conditions and expected future developments, market and other
conditions as well as other factors that the Company believes are
appropriate in the circumstances. Many factors could cause the
Company's actual results, performance or achievements to differ
materially from those expressed or implied by the forward-looking
statements, including those described in the "Risk Factors" section
of the Company's Annual Report on Form 20-F and in the Management's
Discussion and Analysis for the three and nine months ended
September 30, 2020 (copies of which may be obtained
at www.sedar.com or www.sec.gov). These factors
should be considered carefully, and readers should not place undue
reliance on the Company's forward-looking statements. The Company
has no intention and undertakes no obligation to update or revise
any forward-looking statements, whether as a result of new
information, future events or otherwise.
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