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 board.
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”.
About Bioring
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.
