Transcatheter Mitral Valve Technologies: The Heart of Cardiovascular Device Innovation

By Tejdeep Singh Bawa, Michelle Hoffmann, Susan Thompson, Stephanie Kwei

Medical device companies developing next-generation mitral valve repair and replacement technologies have generated unprecedentedly high valuations at ever-earlier stages of device development. Medtech investors are acquiring early-stage transcatheter mitral valve technologies long before commercialization and even before critical clinical data is amassed.Transcatheter Mitral Valve Technologies: The Heart of Cardiovascular Device Innovation is the latest white paper from Back Bay Life Science Advisors. It explores how medical device companies and investors are adopting a new approach to medical device investment for the newest transcatheter mitral valve technologies, including repair (TMVr) and replacement (TMVR) approaches.Most high-impact medical device deals over the past five years have occurred after the product has reached U.S. commercialization. But TMVR and TMVr technologies are attracting investment much earlier in the clinical development cycle, despite having only feasibility studies and lacking robust clinical data.Back Bay’s analysis found four core elements contributing to these high valuations, from the $1 billion market for TMVR/r’s older cousin, Transcatheter Aortic Valve Replacement (TAVR) to the complexity of mitral valve regurgitation (MVR) and the multiple ways this unique patient population affects the pipeline of repair and replacement devices.Our white paper looks at whether transcatheter mitral valve technologies will continue to fire up Medtech and drive aggressive early-stage acquisition and high valuation—and considers next steps for both device manufacturers and investors in the heart valve space. Download the full white paper here