MedAlliance raises over USD 50 million to commercialize drug-eluting balloons

Please login or
register
22.03.2021
Medalliance SELUTION SLR

Nyon-based MedAlliance is commercializing a novel balloon that provides a controlled sustained release of a limus drug, with a similar elution time to that of a drug-eluting stent, whilst leaving nothing behind. Proceeds from the financing will be used to fund commercialization of SELUTION SLR and support global clinical programs.

MedAlliance has been dedicated to developing innovative drug-eluting balloons (DEBs) for patients suffering from life-threating coronary and peripheral arterial disease. The company uses breakthrough proprietary technology that combines the proven safety and efficacy of the cytostatic drug sirolimus with microreservoirs made of biodegradable polymer as drug delivery systems and with a proprietary lipid technology which binds the microreservoirs to the balloon surface.

The microreservoirs provide controlled and sustained release of the drug. Extended release of sirolimus from stents has been proven highly efficacious in both coronary and peripheral vasculatures. MedAlliance’s proprietary CAT (Cell Adherent Technology) enables the MicroReservoirs to be coated onto balloons and adhere to the vessel lumen when delivered via an angioplasty balloon.

SELUTION SLR was awarded CE Mark Approval for the treatment of peripheral artery disease in February 2020 and for the treatment of coronary arterial disease in May 2020.   It is now available in Europe and all other countries where the CE Mark is recognized.  The global market for DEB is estimated to be worth over USD 1.5 Billion.

MedAlliance, the first drug-eluting balloon company in the world to receive US FDA Breakthrough Device Designation Status for a sirolimus DEB, has recently been awarded breakthrough status for SELUTION SLR in the treatment of atherosclerotic lesions in native coronary arteries.  This is the fourth breakthrough designation awarded to MedAlliance for its sirolimus DEB, following coronary in-stent restenosis, peripheral below-the-knee and AV-Fistula indications.

In February 2021 MedAlliance enrolled the first patient in SUCCESS PTA, a 700-patient post-market study with SELUTION SLR for the treatment of peripheral artery disease (PAD). This is the largest study undertaken to date with the device. Data from the SUCCESS PTA study will be part of the clinical evidence supporting CE Mark renewal in 2023/2024 under the new European Medical Device Regulation (MDR).

The new investor is Trustar Capital (formerly known as CITIC Capital Partners). Boon Chew, Senior Managing Director and Managing Partner of Trustar Capital, said: “The global market size for medical devices addressing coronary and peripheral diseases has increased in recent years. MedAlliance has a very solid team of seasoned veterans with strong R&D capability and has successfully developed innovative products that lead the market in terms of technology and registration progress. We have been closely following MedAlliance for a considerable amount of time and have established a strong relationship with its management team.  We are excited to be working together and will continue to bring good news to coronary and peripheral disease patients worldwide.”

(Press release / SK)
Picture: SELUTION SLR / Medalliance

0Comments

More news about

M.A. Med Alliance SA

Company profiles on startup.ch

M.A. Med Alliance SA

rss