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Company Announces Residency at Johnson & Johnson Innovation’s JLABS @ TMC in the Texas Medical Center
$6.1 Million Lead Investment From UK-based The Wellcome Trust is Being Used to Develop Less-Invasive, Non-Blood-Contacting Soft Robotic Heart Device to Treat Heart Failure (HF)
[junkie-alert style=”red”] CorInnova Inc., is an emerging medical device company developing novel technology for the treatment of Heart Failure, announced today three milestone events: (1) the Company has received notice of allowance of a seminal patent to protect its intellectual property associated with the world’s first minimally invasively-delivered soft robotic heart device to support heart function; (2) the Company has become a resident at Johnson & Johnson Innovation, JLABS @ TMC; (3) this residency follows a $6.1 million funding from the Wellcome Trust, details of which have not been disclosed. [/junkie-alert]
William Altman, CEO of CorInnova said, “Our EpicHeartTM technology is innovative and groundbreaking. We believe it will lead to a new paradigm for heart failure treatment.”
EpicHeartTM technology includes:
- First collapsible and self-expanding thin film soft robotic device for cardiac assist;
- Rapid minimally invasive implantation ability and simple delivery tool;
- Intrinsic pneumatic attachment inside the pericardial sac (no sutures or incisions to the heart or aorta);
- Non-blood-contacting device operation;
- Likelihood of up to 30-40% fewer adverse events than blood-contacting assist devices;
- Biventricular (or normal left ventricular) assist capability;
- Non-obligatory operation;
- Promotion of heart rehabilitation by promoting correct cardiac motion;
- The potential to prevent the development of heart failure after major heart attacks.
CorInnova’s operations are located at Johnson & Johnson Innovation, JLABS at the Texas Medical Center (JLABS @ TMC). JLABS is a 34,000 square-foot life science innovation center located in Houston. The labs provide a flexible environment for start-up companies pursuing new technologies and research platforms to advance medical care. Through a “no strings attached” model, JJI does not take an equity stake in the companies occupying JLABS, and the companies are free to develop products – either on their own, or by initiating a separate external partnership with JJI or any other company. CorInnova’s residency at JLABS @ TMC follows a $6.1 million funding from the Wellcome Trust, details of which have not been disclosed.
“Wellcome is pleased to support the development of this innovative technology for the treatment of congestive heart failure,” said Dr. Philip Jordan from Wellcome’s Innovations team. “Congestive heart failure is a chronic condition that affects roughly six million people in the US alone and is a leading cause of death and disability. A significantly less-invasive medical device that could restore a certain level of heart function would be potentially transformative for patients,” added Dr. Jordan.
“We are honored to have our work recognized by the Wellcome Trust. We are further honored to have been chosen by JLABS as one of a limited number of companies to be invited to join its life sciences incubator,” added CorInnova CEO William Altman. “Due to its minimally invasive nature and its potential for reduced adverse events from blood contact, CorInnova’s non-blood-contacting soft robotic cardiac assist device could potentially triple or quadruple the number of heart failure patients who could be eligible for such a life-saving device therapy.”
Further validation of the EpicHeart™ technology occurred in September, when CorInnova was the winner of a $50,000 award at the Fifth Annual Pediatric Device Innovation Symposium organized by the Sheikh Zayed Institute for Pediatric Surgical Innovation at Children’s National Health System and funded by the FDA National Capital Consortium for Pediatric Device Innovation. This competition is designed to foster innovation that will advance pediatric healthcare and address unmet surgical and medical needs for children.
“We are pleased that the compelling advantages of CorInnova’s technology for heart failure treatment in adults is equally compelling for treatment for children,” concluded Boris Leschinsky, CorInnova’s Vice President of Product Development.