October 15, 2020 – Medtronic plc (Dublin, Ireland) announced a partnership with The Foundry (Menlo Park, CA) to invest in and create a company with the goal of developing an innovative transcatheter mitral repair technology (TMVr).
Medtronic says the partnership combines its leadership in Structural Heart and intellectual property with The Foundry’s track record of innovation in the field of transcatheter mitral valve repair and replacement.
The arrangement provides for structured investment tranches from both Medtronic and The Foundry and includes an exclusive right for Medtronic to acquire the resulting company, Half Moon Medical, contingent upon the achievement of certain technical and clinical milestones.
Half Moon recently received U.S. FDA approval of an early feasibility study in patients with severe, symptomatic mitral regurgitation and expects first implants in the coming weeks.
The Half Moon device has the potential to complement Medtronic’s pioneering Intrepid Transcatheter Valve Replacement System, a minimally invasive mitral valve replacement device. Additionally, Medtronic is enrolling early feasibility studies of the Intrepid Transfemoral System, designed to evaluate transseptal/transfemoral access of the Intrepid system in patients with either severe, symptomatic mitral or tricuspid valve regurgitation.