As some companies have worked to improve drug-eluting stents by making them bioresorbable, some voices in the coronary intervention space have expressed concern over the rates of late stent thrombosis and repeat percutaneous coronary intervention seen with the devices. In a study published in the September issue of JACC: Cardiovascular Intervention, Reva Medical‘s (ASX:RVA) Fantom coronary […]
Reva Medical pursues direct-sales after Boston Scientific distro negotiation deal lapses
Reva Medical (ASX:RVA) said today it will take up direct marketing of its peripheral and vascular scaffolds after Boston Scientific‘s (NYSE:BSX) right to negotiate for exclusive distribution of the products expired. San Diego, Calif.-based Reva said that Boston Scientific had gained the right to negotiate for exclusive distribution rights under a 2007 agreement which would have positioned […]
Reva closes $35m financing round
Reva Medical (ASX:RVA) said today that it closed the 2nd tranche of its $34.6 million financing round. The company issued $47.1 million convertible notes, 2,119,500 options for the purchase of common stock and repurchased $12.5 million of its common stock from 1 unnamed investor. The San Diego, Calif.-based company’s 1st commercial product is its Fantom sirolimus-eluting […]
EuroPCR Roundup: Bioresorbable stents show promise, but metallic drug-eluting stents remain standard
Updated to include a statement from an Abbott spokesperson. Abbott‘s (NYSE:ABT) bioresorbable scaffold has been plagued with a myriad of troubling data, including a study that showed that the device is associated with an increase in thrombosis and target lesion failure. In April, Abbott restricted use of the Absorb devices to clinical registry studies. In response […]
Reva plans $40m convertible note offering
Reva Medical (ASX:RVA) said yesterday that it’s planning a $40 million convertible note offering with several institutional and 1 undisclosed corporate investor to fund the company’s ongoing needs, including the clinical development of its Fantom sirolimus-eluting bioresorbable coronary scaffold. Upon issuance of the convertible notes, the company is slated to receive $32.5 in net cash […]
Reva Medical wins CE Mark for Fantom bioresorbable scaffold
Reva Medical (ASX:RVA) said yesterday that it won CE Mark approval in the European Union for its Fantom sirolimus-eluting bioresorbable coronary scaffold. The Fantom scaffold is the San Diego, Calif.-based company’s 1st commercial product. Reva said it plans to begin selling the product in Europe this quarter. “CE Mark approval for Fantom is a major milestone for […]
