Novate: Re-Newing The IVC Filter Market
Serial medtech entrepreneurs Chas Taylor and Paul Gilson founded Novate Medical Ltd. to develop a bioconvertible inferior vena cava filter – it protects patients from pulmonary embolisms during a critical interval, then integrates into the vessel wall. There is no need to retrieve it, a benefit that goes far beyond the economics of avoiding a second procedure.
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The diversified UK firm is betting $20m upfront and up to $150m total on a novel inferior vena cava filter technology.
Vein diseases such as deep vein thrombosis, pulmonary embolism and chronic venous insufficiency have historically been the province of drug therapies, but they shouldn't be, according to the clinical socieities and medical device companies that are trying to create a groundswell in interventional vein treatments. The field is starting to organize: on the clinical side, the first clinical trials ever to pit devices against drugs for DVT are in progress. At the same time, Covidien has drawn attention to the business opportunities in the field by acquiring three companies with venous devices.