Abbott to boost heart valve therapy portfolio with acquisition of Cephea Valve Technologies
pharmafile | January 17, 2019 | News story | Manufacturing and Production, Sales and Marketing |Â Â Abbott, Cephea, acquistion, mitral valve disease, pharmaÂ
As mergers and acquisitions pick up again for the New Year, Abbott has revealed plans to buy medical device firm Cephea Valve Technologies, acting on an option it secured in 2015 with the acquisition of Tendyne Holdings.
Abbott has made the move in order to reinforce its portfolio of therapies for mitral valve disease, the most common type of heart valve ailment which affects over four million people in the US alone. Particularly, Cephea is currently developing a less invasive technology for the condition in patients whose diseased mitral valves need to be replaced, delivering an artificial valve through a vein in the leg, restoring normal blood flow and avoiding the need to resort to open-heart surgery.
The solution fits into Abbott’s portfolio well, which has included the development of minimally invasive therapies for the condition since 2009 with its acquisition of Evalve. The financial specifics of this latest deal were not revealed.
“The acquisition of Cephea builds on Abbott’s strong position in structural heart therapies and is consistent with our strategy to develop comprehensive treatments for people with mitral valve disease,” said Michael Dale, Vice President of Abbott’s structural heart business. “Cephea’s novel approach to replace the mitral valve adds to our other catheter-based technologies and is being developed to provide an additional option for patients who suffer from this difficult-to-treat disease.”
Matt Fellows
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