Cardio3 BioSciences acquires Corquest Medical Inc.
Cardio3 BioSciences (C3BS) announced that it has acquired U.S.-based CorQuest Medical Inc. CorQuest Medical specializes in the development of devices and technologies for cardiac surgery.
CorQuest’s technology is designed to enable cardiologists to take a unique access route directly to the patient’s left atrium and therefore has the potential to become a major breakthrough innovation for therapeutic indications such as mitral valve disorders and structural heart disease, conditions often linked to heart failure. Specifically, CorQuest’s novel heart access technology comprises a number of instruments which allows for quick, user friendly and easy trans-thoracic access to the heart, directly into the left atrium, ensuring a minimally invasive approach to deliver numerous existing therapeutic devices.
The acquisition of CorQuest and the development of these technologies will not significantly affect the Company’s burn rate over the two coming years. However, the acquisition of an extra medical device with a potential to market by 2016, as well as other therapeutic applications, will enable the Company to create multiple short term value creation milestones for its shareholders.
In addition to the heart access technology, Cardio3 Biosciences’ acquisition of CorQuest includes a line of medical devices and implants targeted at various structural heart diseases including atrial fibrillation and mitral valve diseases, which will further expand Cardio3 BioSciences’ cardiovascular therapeutic applications’ portfolio.
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