Sale to an undisclosed medical device company will accelerate product development of innovative epicardial ablation technology
BOSTON, April 25, 2022 /PRNewswire/ -- NIDO Surgical announced today the acquisition of its innovative epicardial ablation technology, SEPIA (Solution for Epicardial Ablation), by an undisclosed medical device company involved in the electrophysiology space. As part of the transaction, the buyer has agreed to accelerate product development of the device.
NIDO developed SEPIA to enable electrophysiologists to provide a range of therapies to the epicardial surface of the heart, with initial applications focused on treating arrhythmias, including ventricular tachycardia (VT) and atrial fibrillation (AFib). SEPIA will allow direct and real-time visualization of the epicardial surface and provide stability and control to complementary devices, such as ablation catheters. Ultimately, SEPIA is expected to improve the safety and efficacy of epicardial procedures, which may lead to reduced complications and lower rates of arrhythmias post-ablation.
"This strategic acquisition by a fast-growing company in the electrophysiology space demonstrates the value of the SEPIA technology and the commercial opportunity to provide tools for epicardial access," said Thomas Marchand, President, and CEO of NIDO.
"The buyer has committed to accelerating product development to capitalize on the opportunity in the arrhythmia market." "Gaining the ability to directly visualize a target area on the heart to deliver therapy safely will greatly enhance electrophysiologists' ability to treat life-threatening arrhythmias. Indeed, the SEPIA access tool could enable innovative therapies for a broad range of heart diseases," said Pedro del Nido, Co-Founder of NIDO Surgical, Chairman of Cardiovascular Surgery at Boston Children's Hospital, and William E. Ladd Professor of Child Surgery at Harvard Medical School.
Prior to the sale, NIDO received two Small Business Technology Transfer (STTR) grants from the National Institutes of Health (NIH) totaling $1.8 million and an additional $2.9 million from private investors.
"Broadview Ventures has been an active supporter of NIDO since 2017. We have been proud to collaborate with the NIDO team in the early development of SEPIA," said Daniel Gottlieb, Associate Director of Broadview Ventures. "NIDO's combination of dedication, creativity, and clinical expertise has been instrumental in delivering an innovative device to address the needs of patients suffering from arrhythmias. We congratulate the entire team on the recent acquisition."
The terms of the transaction will not be disclosed.
About Broadview Ventures: Broadview Ventures is a mission-driven investment organization that makes targeted investments in early-stage companies to accelerate the development of innovative therapeutics, devices, and diagnostics for cardiovascular disease and stroke. Broadview is an affiliate of the Leducq Foundation.
About NIDO Surgical: NIDO (Boston, MA) is a medical device company developing SEPIA, an innovative solution for cardiac epicardial ablation. It was co-founded by Pedro del Nido, Chairman of Cardiovascular Surgery at Boston Children's Hospital and William E. Ladd Professor of Child Surgery at Harvard Medical School, and Nikolay Vasilyev, U.S. Senior Medical Director, Surgical Portfolio and Pipeline at Pfizer and former assistant professor of surgery at Harvard Medical School. SEPIA will allow direct and real-time visualization of the epicardial surface and provide better stability and control to an ablation catheter. Ultimately, SEPIA will reduce complications and improve ablation efficiency, leading to decreased recurrence of arrhythmias post-ablation; today about 50%.