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REVA: In Bioresorbable Stents, As Things Change, Will The Value Remain The Same?

Executive Summary

REVA Medical started almost 14 years ago as a bare metal stent company, only to run into the drug-eluting stent (DES) revolution. In response to the DES boom, the company reinvented itself as a bioresorbable stent company and then added a drug-eluting capability. However, until the late-stent thrombosis risk of DES emerged in 2006, bioresorbable stents were largely irrelevant. REVA has survived the ups and downs of the device financing environment by adopting creative solutions, including an evolving relationship with a strategic partner and ultimately an Australian IPO. The company is just now reentering the clinic with its pivotal trial, which is both a testament to its perseverance and a sign of the many challenges still ahead, not the least of which being whether REVA’s innovation will ultimately be rewarded.

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