CSI Partners With Innova Vascular to Develop Thrombectomy Devices

February 23, 2022—Cardiovascular Systems, Inc. (CSI) announced it has partnered with Innova Vascular, Inc. to develop a full line of thrombectomy devices.

According to the company, CSI intends to acquire and commercialize novel thrombectomy devices from Innova targeting peripheral vascular disease, including deep vein thrombosis (DVT) and pulmonary embolism (PE).

Pending regulatory clearance in the United States, CSI could begin to commercialize a portfolio of manual aspiration and clot retrieval devices for the treatment of peripheral vascular disease in its fiscal 2023. The portfolio and corresponding indications for use are expected to be expanded to include treatment of DVT and PE after the completion of subsequent clinical trials.

Under the terms of the agreements with Innova, CSI has provided financing to Innova for the development of thrombectomy devices.

Under an acquisition option agreement, upon Innova’s completion of key technical, regulatory, and clinical milestones in the development program, CSI will have exclusive rights to acquire the thrombectomy devices, subject to the satisfaction of closing conditions set forth in the agreement.

Innova Vascular, which is based in Irvine, California, develops minimally invasive solutions to treat arterial and venous thromboembolism. Its product portfolio includes Laguna clot retrievers, Malibu aspiration catheters, and other devices.

Sanjay Shrivastava, PhD, CEO of Innova stated in the CSI press release, “We strive to bring solutions that are easy to use, safe, and highly effective in treating potentially devastating diseases. We are excited to partner with CSI, which has been serving the interventional cardiology, interventional radiology, and vascular surgery communities that will be the primary users of Innova products. CSI’s commercial presence in this space makes it an excellent fit for accelerating the commercialization of Innova’s products post regulatory clearances.”

Scott R. Ward, CSI’s Chairman, President, and CEO, added, “The commercialization of these thrombectomy devices will be an important addition to our growing pipeline of products. In total, developing novel drug-coated balloons, intravascular lithotripsy, mechanical circulatory support, and thrombectomy devices target some of the fastest-growing segments within interventional cardiology. Supplementing our core orbital atherectomy devices with these technologies will greatly increase the number of patients we will reach while simultaneously expanding our total addressable market to over $18 billion in the coming years.”