Medtronic Invests in Arsenal AAA, LLC

June 18, 2015—Medtronic plc announced a financial investment in Arsenal AAA, LLC, a wholly owned subsidiary of Arsenal Medical, Inc. In return, Medtronic received an option to acquire Arsenal AAA after the company achieves certain milestones for its product in the treatment of abdominal aortic aneurysms (AAAs). The financial terms of the investment were not disclosed.

According to Medtronic, Arsenal AAA is developing a foam and delivery mechanism designed to fill the aneurysmal sac around an endograft, thus stabilizing the aneurysm and reducing the likelihood of endoleaks. This is especially important in type II endoleaks, where the anatomy of the branch vessels can lead to persistent arterial flow within the aneurysmal sac, even when treated with an endograft, noted the company.

Arsenal AAA's foam delivery catheter is intended to be used in conjunction with any commercially available endograft and allows for the prophylactic treatment of endoleaks.

Daveen Chopra, Vice President and General Manager of the Aortic Division within the Cardiac and Vascular Group (CVG) at Medtronic, stated in the announcement, “The investment will allow Arsenal AAA to utilize its expertise in foam technologies to address persistent endoleaks that can occur after endovascular aneurysm repair procedures. This investment is in line with Medtronic's Aortic strategy of continuing to innovate in the core AAA markets and complements our organic investments in next-generation stent graft programs.”

Maria Palasis, PhD, is President and Chief Executive Officer of Arsenal Medical. In Medtronic’s press release, Dr. Palasis commented, “Medtronic's strategic investment in Arsenal AAA validates our breakthrough in situ forming foam platform. Medtronic's leading market position and expertise in this field will help accelerate the introduction of this novel technology to the broader AAA community and we are looking forward to working with such a dynamic company.”