BioVentrix Acquires MateraCor Inc.

BioVentrix Inc. is expanding its heart failure treatment portfolio with its purchase of MateraCor Inc., a company that developed an injectible alginate-based hydrogel. Neither company disclosed the deal’s terms.
 
“This is an exciting time for BioVentrix as we build a platform of synergistic therapies to treat a dilated left ventricle, the root cause of ischemic and idiopathic heart failure,” said Jim Dillon, president and CEO, BioVentrix. “The acquisition of MateraCor Inc., and its lead product, Trans-Catheter Myocardial Restoration (TCMR), reinforces our position to treat left ventricular heart failure by offering a variety of solutions that will directly impact ventricular remodeling through less invasive LV restoration technologies.”

Cardiomyopathy represents a collection of diverse conditions of the heart muscle. These diseases have many causes, and symptoms that affect people of all ages and races. When cardiomyopathy occurs, the normal muscle in the heart can thicken, stiffen, thin out, or fill with substances the body produces that do not belong in the heart. As a result, the heart muscle’s ability to pump blood is reduced, which can lead to an irregular heart rhythm, the backup of blood into the lungs or rest of the body, and death. Cardiomyopathy can be acquired—developed because of another disease, condition, or factor—or inherited. The cause is not always known.
 
The company also named Steve Chartier as chief operating officer, and Professor Andrew Coats as a board member. Chartier boosts the company’s expertise in global regulatory strategy, operations and clinical product development while Coats, a world-renowned heart failure cardiologist, joined the board to help guide the company to greater growth within the heart failure market.
 
Chartier brings more than 25 years of senior leadership experience in emerging and established medical device and biotechnology companies. Most recently, he served as vice president of Global Clinical Affairs at Sirtex Medical Limited, a manufacturer of liver cancer therapies. He has held a variety of executive positions in companies across both market areas.
 
Coats, the current president of the Heart Failure Association of the European Society of Cardiology, has previously been director of the Monash-Warwick Alliance, CEO of the Norwich Research and Innovation Park, deputy vice-chancellor and dean of Medicine of the University of Sydney, head of Cardiology of Imperial College, London and associate medical director and director of Cardiology of the Royal Brompton and Harefield Hospitals, London. Coats studied medicine at Oxford and Cambridge. He has published more than 20 patents, over 750 full research papers, and has more than 120,000 career citations, with a personal H-index of 145.

“Both Andrew Coats and Steve Chartier are welcome additions to our team,“ said Dillon. “Steve is a top-tier industry leader whose experience will drive BioVentrix as we implement and enhance operational functions that support our strategic objectives. The addition of Professor Coats to our board will add invaluable knowledge and experience to an already accomplished group.”
 
MateraCor Inc. is a southern California based startup developing approaches to prevent progression and reverse heart failure. Its Trans-Catheter Myocardial Restoration (TCMR) consists of an implantable hydrogel and a minimally invasive endocardial delivery system to treat ischemic or non-ischemic heart failure with reduced ejection faction (HFrEF). TCMR is an investigational device not approved for sale.
 
BioVentrix is a privately held medical device company headquartered in San Ramon, Calif. Its Revivent TC system received the CE Mark and is currently pending U.S. Food and Drug Administration approval.