Edwards Lifesciences has purchased Baltimore-based Harpoon Medical for an initial $100 million, with the potential for up to $150 million more to be disbursed in milestone-driven payments over the next 10 years.
Edwards announced the acquisition Dec. 6, hailing the addition of Harpoon’s mitral valve repair device to its product line.
"We believe the addition of Harpoon Medical's technology and talented team will enable even more opportunities to help patients with degenerative mitral regurgitation," Bernard Zovighian, a corporate vice president at Edwards, said in a statement. "The unique beating-heart repair procedure for mitral valve patients complements Edwards' comprehensive portfolio of treatments for structural heart disease, and reinforces our commitment to innovation in cardiac surgery."
Harpoon’s mitral device is under investigation and not available commercially. It is expected to receive CE mark approval soon, according to Edwards’ press release.
Harpoon CEO Bill Niland, who is staying on with Edwards, told The Baltimore Sun he hopes to begin selling the device in the U.S. in 2020 or 2021. Niland said he expects to begin a clinical trial in 2018 to move toward U.S. approval.
"There are a significant number of patients currently undergoing mitral valve surgery that we believe can benefit from Harpoon's therapy during a minimally invasive, beating-heart procedure," said device inventor James S. Gammie, MD, professor and chief of cardiac surgery at the University of Maryland School of Medicine. "This therapy offers the potential for earlier treatment of degenerative mitral valve disease with faster recovery and less morbidity, while also providing the opportunity for more consistent procedures and outcomes for patients."