I’m my mission today is to provide you with the perspective on from the VC from venture capitalist this is a business perspective on the aortic valve space again my name is Marwan Bharata and I’m a senior director at the Cleveland Clinic provided a perspective I think I want to take a little bit down the memory lane and talk.
About the history around Tavor so dr.
Allen created a obviously with his passion around valves brought up a field to.
Us which is the percutaneous valve also we need to give credit to Edwards and Medtronic they acquired companies early stage companies are able to nurture both on the clinical side and the financial side to provide us with devices that we use in today.
And this is all about the investment that we want to talk about in the VC perspective with that people have seen the opportunities and many different valves have been created and a question from from an investor as well out of.
All of these valves how many will see the day of light a light of the.
Day sorry and then how many of those will actually be invested all or not and that’s the discussion that we gonna have today so from the aortic valve space characteristics is definitely disruptive technology it has a very similar outcome and then the surgical so this this procedure here to stand we know that and we heard it multiple times it is a very significant large market the indications have been expanding from high-risk patients or slores patient with very good data there’s a significant.
Technical improvement from all of these devices from generation to generations and.
Every speaker here has been talking about that evolution and how that actually impacted and every strategic today has a has a Tavor program so it’s not a surprise to us that this is a very large market in 2020 is actually projected to be over two billion dollars in revenues just only the Tavor we have not talked about mitral valve or other type of.
Valve so this is very significant market this is a data that we collected internal to the Cleveland Clinic business intelligence we actually counted about 27 nick valve companies out of those about eight have been acquired three have been defunct and 14 are still active the st. Jude / Abbott vertical valve is an internal development we totaled about over 720.
Million dollars in investment and over 2 billion dollars of.
Return which is a ROI return on investment but six times this is a very significant and very healthy so what’s left for us to improve we talked about stroke rate needs to be reduced we talk about paravalvular leakage corner obstructions heart block reduction heart block and conductions disturbance and we talked about leaflet durability for low risk patients.
But I would like to argue that these are all marginal improvements and they’re not disruptive enough to actually want investment so we talked about all of these but if.
From an investor perspective this is very difficult for somebody new to build a company around solving these problems alone because they have to borrow technologies they have to borrow current devices and at best what they will get is license to a strategic rather than actually an acquisition so.