NEW YORK, Aug. 29, 2023 /PRNewswire/ — CobiCure Medical Technologies, a non-profit pediatric initiative, part of the Advancium Health Network, announced today its continued commitment to solving the unmet needs in pediatric medical technologies with a grant of strategic support, resources, and $2 million in funding to PolyVascular, a Houston,TX based medical device company, developing a transformative, first of its kind, non-surgical heart valve for young children suffering from congenital heart disease.
The strategic support, resources, and funding provided by CobiCure MedTech will be used to further advance the development of PolyVascular’s novel polymer heart valve towards becoming the first of its kind to demonstrate human clinical readiness. This strategic collaboration aims to accelerate this life-saving technology for children born with congenital heart defects, which affect nearly 40,000 births per year according to the Centers for Disease Control and Prevention (CDC).
“CobiCure’s mission, strategic ecosystem, and critical resources are a perfect match for helping PolyVascular realize their goal of eliminating invasive surgeries in children with congenital heart disease,” said Emma Moran, PhD, Director of Strategy & Development at CobiCure MedTech. “Our commitment to supporting life-changing medical devices like PolyVascular’s will fill gaps in pediatric MedTech and we look forward to the positive impact it could have on children’s lives.”
The resource and funding grant provided by CobiCure MedTech adds to the $3.5 million in grants previously secured from sources including the National Institutes of Health (NIH) Small Business Innovation Research (SBIR) Phase I and Phase II, as well as $750,000 from private funding.
“This investment from CobiCure MedTech is a testament to the progress our team has made and acknowledges the need for better solutions for children with congenital heart disease,” said founder and pediatric cardiologist, Henri Justino, MD. “We’re grateful for the trust placed in our team by CobiCure. With their support, we are one step closer to reaching this vulnerable population to improve their quality of life and offer parents greater peace of mind.”
CobiCure MedTech provides an expedited pathway to sustainable commercialization that is often out of reach for many pediatric innovators and their medical devices. The lack of investment in the field places operational, developmental, and commercial constraints on innovators, further deepening the gaps for pediatrics, thereby limiting the number of approved pediatric medical devices. The current landscape leaves the medical community with few options, ultimately placing the burden on families and hindering the child’s quality of life.
The CobiCure non-profit model is supported by strategic business and scientific advisors with world-leading commercial expertise, who are motivated to transform the industry by removing Return on Investment (ROI) as a motivator and instead prioritizing impact and immediacy. CobiCure MedTech applies deep industry knowledge and strategic expertise at any stage of the product lifecycle to support pediatric innovation from ideation, through development and regulatory affairs, to commercial execution. CobiCure MedTech is reimagining the pediatric medical device landscape to ensure that pediatric medicine has access to tools and technology that can transform the industry and positively impact children’s lives.
About PolyVascular
PolyVascular is developing a next-generation heart valve replacement for children suffering from congenital heart disease. The company’s pioneering non-surgical valve uses a novel polymer to replace faulty heart valves, reducing the need for multiple surgeries and significantly improving patients’ quality of life. For more information, visit https://polyvascular.com.
About CobiCure MedTech
CobiCure MedTech is a non-profit pediatric organization, part of the Advancium Health Network, focused on reimagining pediatric medical technology through its strategic ecosystem, critical resources, leadership and funding, ensuring that return on investment is not a determinant for bringing life-changing pediatric medical technologies to children.
For more information on how CobiCure is reimagining the pediatric technology landscape to transform lives, visit: https://advanciumhealth.org/cobicure.html
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SOURCE Advancium Health Network
Originally published at https://www.prnewswire.com/news-releases/cobicure-grant-accelerates-the-first-of-its-kind-non-surgical-heart-valve-for-young-children-with-congenital-heart-disease-filling-a-long-standing-gap-in-pediatric-medtech-301912274.html
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