Growth by innovation is almost considered a birthright in interventional cardiology, and based on presentations at this year's Transcatheter Cardiovascular Therapeutics meeting, held this September in San Francisco, it seems clear that innovation still reigns supreme in this specialty. However, as in other medical device markets, ongoing economic and regulatory pressures are taking their toll, particularly in the drug-eluting stent market, as the field adjusts to a new era of cost control and economic uncertainty.

Safety concerns and a retrenchment in usage have dimmed the luster of drug-eluting stents, but only slightly. If the market is to turn around and, more importantly, serve the kind of patients who really need these devices, a second-generation drug-eluting stent will be needed, one designed specifically for these new patients. And Xtent believe it has the technology to do just that.

While most companies are developing new ways to deliver drugs off of stents, OrbusNeich is looking to capture circulating endothelial progenitor cells onto its device to promote healing naturally, without drugs.

At a time when bankers and investors, driven by quarter-to-quarter results, are always on the look-out for the next deal, Roberts Mitani has a different philosophy for investing in life sciences. "Our firm is built on developing long-term relationships with clients," says principal Bruce Roberts. "Building long-term relationships with clients allows us to be creative; for example, we can work on smaller transactions if that's what the client needs, because we receive warrants for our participation, and, unlike other banks, we know we'll be sticking around to witness the benefits of that kind of deal." The firm is also able to integrate both US and overseas investors.