Cardiosonic Ltd. has successfully completed the first safety and performance study of its TIVUS renal denervation device for the treatment of hypertension. The company said that renal denervation by the TIVUS therapeutic ultrasound catheter system was fast, easy to use by doctors, and that patients reported tolerable pain. The company is now preparing for an efficacy trial, which will include 80 patients at 20 sites around the world. The results of the study will be available in 2014.
Cardiosonic CEO Benny Dilmoney said that the public learned of treating hypertension through renal denervation when Medtronic Inc. (NYSE: MDT) acquired Ardian Inc., the leading company in the field, for $800 million. There are currently several renal denervation products on the market, sold by big pharma companies, all of which use radiofrequency technology, except for one device that uses focused ultrasound. Although the market is busy, it is still new, and extensive studies and proof are still needed. Medtronic is conducting a trial that includes 500 patients.
Cardiosonic was founded in 2009 by Shmuel Almagor, a former owner of Impex Tobacco Ltd., and was one of the main beneficiaries of the sale of Mediguide to St. Jude in 2008. He found the technology invented by Dr. Ariel Sverdlik of Tel Aviv University, who now serves as Cardiosonic's CTO. Almagor invested $7 million to commercialize the technology, and has also invested part of the $16 million needed to turn the company into a leader. Cardiosonic currently has 20 employees at its offices in Tel Aviv.
Published by Globes [online], Israel business news - www.globes-online.com - on November 20, 2013
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