CVRx Inc. Archives - Page 2 of 2 - Medical Design Sourcing

CVRx is going the IPO route

CVRx plans to hold an IPO to raise up to $75 million as it seeks to further commercialize its neuromodulation device to treat the heart.

That’s according to a June 4 registration statement with the U.S. Securities and Exchange Commission that follows up on a registration confidentially filed with the SEC in April.

The plan is for Brooklyn Park, Minn.–based CVRx to trade on the Nasdaq under the symbol CVRX. Underwriters include J.P. Morgan, Piper Sandler, William Blair and Canaccord Genuity.

CVRx’s FDA-approved Barostim Neo uses patented technology to send electrical pulses to baroreceptors in the wall of the carotid artery. The treatment is meant to restore balance to the automatic nervous system and improve the symptoms of heart failure.

The company brought in about $6 million a year in 2019 and 2020, with sales only slightly down amid the COVID-19 pandemic. Company officials tout an initial $2.9 billion opportunity to treat heart fai…

CVRx CEO Yared on selling during a pandemic and improving diversity, equality inside and outside of medtech

Nadim Yared, CEO of CVRx

In part 2 of an interview, we follow up with last week’s guest, CVRx CEO Nadim Yared, to catch up on how the medtech executive is managing during the pandemic.

Yared also shares some far-reaching views on what the medtech industry needs to work toward to improve diversity in its workforce and provide equality for society.

We also visit with Mira Sahney, CEO of Hyalex Orthopaedics, one of medtech’s most interesting startups. Hyalex was identified as a notable startup in this recent report in Medical Design and Outsourcing.

In this interview, Sahney reveals Hyalex’ origins, the state of its potential cartilage replacement product, and why start-ups have a natural advantage operating in a pandemic.

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DeviceTalks by MassDevice · CVRx Nadim Yared on COVID-19, diversity and …

CVRx raises $50m to support Barostim Neo commercialization

CVRx’s Barostim Neo [Image courtesy of CVRx]

CVRx has raised $50 million in its latest round of equity financing — money the company will use to support the U.S. commercialization of its Barostim Neo heart failure treatment device.

New investors Strategic Healthcare Investment Partners and Vensana Capital led the new funding round — with participation from other new investors, Hatteras Venture Partners and Venrock Healthcare Capital Partners. Existing investors Johnson & Johnson Innovation, New Enterprise Associates, Gilde Healthcare, and Action Potential Venture Capital also participated.

The FDA-approved Barostim Neo is a neuromodulation device to treat the heart. It uses patented technology to send electrical pulses to baroreceptors in the wall of the carotid artery. The treatment is meant to restore balance to the automatic nervous system and improve the symptoms of heart failure.

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CVRx’s Yared speaks to the value of confidence and cooperation

Nadim Yared, CEO of CVRx

This week, CVRX reported positive six-month trial results for its Barostim Neo, an FDA-approved treatment for heart failure.

The results follow years of close work between the agency and CVRx, one of the more ambitious startups in medtech. CVRx is targeting a huge clinical need with novel neuromodulation technology.

In this week’s DeviceTalks Weekly podcast, CEO Nadim Yared walks us through the negotiations the company went through with the FDA to get to this point.

Yared, the prior chairman of the industry group AdvaMed, also shares the story of his career, which started early on when he secured a job at GE even before graduating college.

In this talk, Yared speaks to several issues including:

The power of confidence and the dangers of overconfidence when building a career. How he decided to take the job at CVRx (and why he didn’t initially want to talk abo…

CVRx reports positive six-month trial results for Barostim Neo

CVRx announced today that it observed positive six-month results from its BeAT-HF trial for the Barostim Neo device for improving symptoms of heart failure.

Barostim Neo uses patented technology to send electrical pulses to baroreceptors in the wall of the carotid artery in an effort to restore balance to the automatic nervous system and improve the symptoms of heart failure.

The results, published in the Journal of the American College of Cardiology, were used to obtain FDA premarket approval for the Bariostim Neo.

BeAT-HF was a multi-center, prospective, controlled trial with patients randomized one-to-one to receive Barostim Neo, plus optimal medical management, or optimal medical management alone in the control. The trial included 264 patients with the following key qualifications:

NYHA Class III or Class II (with recent history of Class III) Left ventricular ejection fraction ≤ 35% On current HF guideline-directed medical therapy NT-proBNP <…