Carillon hits the right note

Abbott’s MitraClip is suddenly hot property after the highly positive Coapt results presented this weekend, and now another mitral valve repair device has also hit in a study – though this time the data will not lead directly to a filing. In the 120-patient Reduce FMR trial, the Carillon implant developed by Cardiac Dimensions reduced mitral regurgitant volume by 22% at one year, compared with an increase of 8% in patients who underwent a sham procedure. The product works in a completely different way to MitraClip; where Abbott’s device clips the valve’s leaflets together, Carillon is implanted in the coronary vasculature to reshape the mitral annulus from the outside. A pivotal US trial of Carillon has just begun, with tougher endpoints – MACE rates and composites including mortality – so the device still has a way to go before it can compete with MitraClip in the US. Perhaps the Reduce FMR data will prompt a buyer to emerge. If not, Cardiac Dimensions’ venture backers, who have invested nearly $160m over the past 16 years, will have to remain patient.

Cardiac Dimensions' VC funding
Date Round Investment ($m) Investors
April 2018 Series B 39.0 Aperture Venture Partners; Arboretum Ventures; Hostplus; Life Science Partners; Lumira Capital; M. H. Carnegie & Co.; Oxford Finance Corporation
March 2015 Undisclosed 15.2 Aperture Venture Partners; Arboretum Ventures; Life Science Partners; Lumira Capital; M. H. Carnegie & Co.
October 2014 Undisclosed 8.5 Arboretum Ventures; Lumira Capital; M. H. Carnegie & Co.
January 2014 Undisclosed 20.0 Lumira Capital; M. H. Carnegie & Co.
September 2012 Undisclosed 5.8 Undisclosed
November 2010 Undisclosed 6.4 Undisclosed
December 2007 Series D 35.5 Frazier Healthcare Ventures; InterWest Partners; Johnson & Johnson Development Corporation; Lumira Capital; Mitsubishi UFJ Capital; Montgomery & Co.; MPM Capital; Polaris Ventures; WestRiver Capital
March 2004 Series C 15.0 Frazier Healthcare Ventures; InterWest Partners; MPM Capital; Polaris Ventures
June 2002 Series B 12.0 InterWest Partners; MPM Capital; Polaris Ventures
  Total 157.5  
Source: EvaluateMedTech.

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