Reva touts first implant of Fantom Encore bioresorbable scaffold in Italy

Reva Medical (ASX:RVA) touted this week the first implant of its newly-launched Fantom Encore bioresorbable scaffold in Italy.

The company’s third-generation coronary bioresorbable scaffold features a thin strut profile and Reva’s Tyrocore polymer.

“The patient I treated today was young, only 53 years old, and a perfect candidate for bioresorbable scaffolds,” Antonio Colombo of the Columbus Clinic Center said in prepared remarks. “During the procedure, I was impressed by Fantom Encore’s ease-of-use owing to its thinner strut profile and strength. Bioresorbable scaffolds are an important therapy to pursue and I think that Fantom Encore has the potential to become a go-to treatment option for many patients.”

“Fantom Encore is the most advanced bioresorbable scaffold technology that is commercially available today,” CEO Reggie Groves added. “We are working with Bio Vascular Group as our distribution partner to bring Fantom Encore to physicians and patients in Italy and are actively working to expand geographic access through new partnerships in other regions of Europe and Asia that accept CE Mark.”

Last month, Reva reported its third-quarter financial results, recording a net loss of -$9 million on sales of $93,000 for the 3 months ended Sept. 30. The company’s sales grew 447% compared with the same period last year and earnings per share were -22¢.

Reva’s cash balance was $7.1 million as of Sept. 30, which it expects will be sufficient to fund the company through the first quarter of 2019.

The company also touted a number of important milestones from Q3, like the launch of Fantom Encore in Europe and landing CE Mark approval for its Motiv scaffold.

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