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Bioring SA Receives A Financing
2/22/2010 12:29:18 PM
Lonay, Switzerland, February 22 2010 – BIORING (www.bioring.ch), a
biomedical company that has developed a unique, biodegradable annuloplasty
ring for mitral and tricuspid valve repair, today announced that it has
successfully secured new financing from its main shareholders.
“This new round of financing testifies to the shareholders’ confidence in the
Bioring technology platform”, commented Gilles Brisson, Chairman of the Bioring
Bioring has developed a biodegradable polymer-based technology platform which
is applicable to a wide range of implantable medical devices. The company has
already brought the Kalangos ring (a unique solution which addresses unmet
clinical needs in valve repair) to market.
Bioring CEO Soad El Ghazouani added that “this financing will allow Bioring to
pursue its development, enter new markets and continue on-going discussions
with potential business partners”.
The US Federal Drug Administration (FDA) recently awarded a grant to fund the
clinical trial of Bioring’s annuloplasty ring. The trial will be led by the Pediatric
Cardiovascular Device Consortium (PCDC) of leading pediatric surgeons.
“The Humanitarian Device Exemption (HDE) process in on-going. We are working
very closely with the PCDC, with additional support from the US Pediatric Heart
Network” said Soad El Ghazouani. “We plan to start patient enrolment before the
end of 2010”.
Following its incorporation in 2000, the Swiss company Bioring successfully created and
patented a unique technology platform and then developed, patented and
commercialized its first product: a biodegradable annuloplasty device. The KalangosTM
annuloplasty ring obtained the CE mark in 2005 and has been successfully implanted in
over 2,000 patients in 20 countries worldwide. Although the device has already been
successfully used in the United States under a compassionate use exemption, it is not yet
commercially available there. Bioring's products and technology are proprietary and the
company manages a comprehensive patent portfolio.