CorMatrix Cardiovascular Announces Sale of First Pipeline Assets
Atlanta, GA, June 8, 2017 (Newswire.com) - CorMatrix Cardiovascular, Inc. (www.cormatrix.com), a leader in cardiovascular tissue engineering, today announces the sale of its pipeline first-to-market regenerative devices to Aziyo Biologics. CorMatrix, a developer of extracellular matrix cardiovascular devices, has sold over 160,000 devices to the market since 2006. These devices include Pericardial Repair, Cardiac Tissue repair, Vascular Patch repair, and the Cangaroo pouch for pacemaker and defibrillator protection.
“The sale of our current products to Aziyo greatly benefits both companies,” said Rich Ferarri, Executive Chairman of CorMatrix. “It allows CorMatrix to freely develop the important regenerative pipeline of products and give Aziyo several products with a proven track record in the cardiovascular field.”
The synergies between the two regenerative companies allow for an expansion of the Aziyo portfolio of products with an ongoing revenue stream and expanded sales force, as well as an expedited path for CorMatrix development of their pipeline products, which includes devices for congestive heart failure (CHF), regenerative and percutaneous heart valves, and vascular grafts.
Dr. Robert Matheny, CMO/CSO said, “We are very excited about moving forward with the pipeline products, specifically the ones for congestive heart failure. We are currently arranging for clinical studies with VADs (Ventricular Assist Devices) as the preclinical data has been very encouraging. There is a growing body of knowledge indicating that the environment for cells to regenerate is as important as the stem cell; the two work in concert.”
The CorMatrix pipeline of products addresses several unmet needs for Congestive Heart Failure, Heart Valves, and Vascular Grafts. The organization’s large number of novel products backed by over 300 patents and patent applications has positioned CorMatrix as the leader in Cardiac and Cardiovascular Regenerative Medicine.
CorMatrix® Cardiovascular, Inc. (www.cormatrix.com) was founded in 2001 as a privately held medical device company dedicated to developing and delivering innovative biomaterial devices that harness the body’s own innate ability to repair damaged cardiovascular tissues.
For more information, contact:
Gayle Baxter Mitrano
Source: CorMatrix Cardiovascular, Inc.