{"id":7581,"date":"2024-08-19T14:04:44","date_gmt":"2024-08-19T07:04:44","guid":{"rendered":"https:\/\/thaipropertynews.com\/feeds\/?p=7581"},"modified":"2024-08-19T14:04:44","modified_gmt":"2024-08-19T07:04:44","slug":"genesis-medtech-announces-the-sale-of-jc-medical-inc-to-edwards-lifesciences","status":"publish","type":"post","link":"https:\/\/thaipropertynews.com\/feeds\/?p=7581","title":{"rendered":"Genesis MedTech Announces the Sale of JC Medical, Inc to Edwards Lifesciences"},"content":{"rendered":"

SINGAPORE<\/span><\/span>, Aug. 19, 2024<\/span><\/span> \/PRNewswire\/ —\u00a0Genesis MedTech has sold JC Medical, Inc. to Edwards Lifesciences, including the intellectual property and commercial rights of its J-Valve\u00ae System, a transcatheter aortic valve replacement for the treatment of severe aortic regurgitation. The transaction includes an upfront payment plus potential sales-based contingent milestones.<\/p>\n

Genesis\u00a0MedTech has maintained the exclusive right to develop, manufacture and commercialize the J-Valve\u00ae Systemin in Greater China<\/span>. In July 2023<\/span>, Genesis MedTech successfully completed patient enrollment for clinical study of\u00a0J-Valve\u00a0transfemoral system for the treatment of aortic regurgitation (referred to as J-Valve\u00ae TF) in China<\/span>, and recently concluded the one-year patient follow-up.<\/p>\n

In August 2023<\/span>, JC Medical’s J-Valve\u00ae TF\u00a0was granted the “Breakthrough Device Designation” by the U.S. Food and Drug Administration (FDA). JC Medical completed enrollment in its early feasibility study (EFS) of J-Valve\u00ae TF\u00a0in the United States<\/span> in February 2024<\/span>. Approval from FDA for JC Medical to initiate its pivotal clinical trial of J-Valve\u00ae TF\u00a0was received in the first half of 2024.<\/p>\n

Additionally, Edwards has made an equity investment of $25 million<\/span> in Genesis MedTech. This investment will support Genesis MedTech’s product and market development efforts, showcasing the recognition of Genesis MedTech’s product development capabilities and operational model by a global MedTech leader.<\/p>\n

“J-VALVE\u00ae has unique advantages in treating aortic valve regurgitation.” said Warren Wang<\/span>, Chairman and CEO of Genesis MedTech Group. “We hope that J-Valve\u00ae\u00a0can expand its global impact, enabling more patients to benefit from this innovative product. We will continue strengthening our focus on developing innovative products and explore better medical solutions to benefit more patients worldwide.”<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

SINGAPORE<\/span><\/span>, Aug. 19, 2024<\/span><\/span> \/PRNewswire\/ —\u00a0Genesis MedTech has sold JC Medical, Inc. to Edwards Lifesciences, including the intellectual property and commercial rights of its J-Valve\u00ae System, a transcatheter aortic valve replacement for the treatment of severe aortic regurgitation. The transaction includes an upfront payment plus potential sales-based contingent milestones.<\/p>\n

Genesis\u00a0MedTech has maintained the exclusive right to develop, manufacture and commercialize the J-Valve\u00ae Systemin in Greater China<\/span>. In July 2023<\/span>, Genesis MedTech successfully completed patient enrollment for clinical study of\u00a0J-Valve\u00a0transfemoral system for the treatment of aortic regurgitation (referred to as J-Valve\u00ae TF) in China<\/span>, and recently concluded the one-year patient follow-up.<\/p>\n

In August 2023<\/span>, JC Medical’s J-Valve\u00ae TF\u00a0was granted the “Breakthrough Device Designation” by the U.S. Food and Drug Administration (FDA). JC Medical completed enrollment in its early feasibility study (EFS) of J-Valve\u00ae TF\u00a0in the United States<\/span> in February 2024<\/span>. Approval from FDA for JC Medical to initiate its pivotal clinical trial of J-Valve\u00ae TF\u00a0was received in the first half of 2024.<\/p>\n

Additionally, Edwards has made an equity investment of $25 million<\/span> in Genesis MedTech. This investment will support Genesis MedTech’s product and market development efforts, showcasing the recognition of Genesis MedTech’s product development capabilities and operational model by a global MedTech leader.<\/p>\n

“J-VALVE\u00ae has unique advantages in treating aortic valve regurgitation.” said Warren Wang<\/span>, Chairman and CEO of Genesis MedTech Group. “We hope that J-Valve\u00ae\u00a0can expand its global impact, enabling more patients to benefit from this innovative product. We will continue strengthening our focus on developing innovative products and explore better medical solutions to benefit more patients worldwide.”<\/p>\n

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