Shares of the Canadian medical devices company Neovasc Inc. (TSX:NVCN) (NASDAQ:NVCN) jumped over 20% today after the company announced that its first Neovasc Reducer for the treatment of refractory angina had been implanted into a US patient.
Refractory angina, which occurs when there is not enough blood being supplied to the heart by the coronary arteries, affects millions of people around the world. The Neovasc Reducer is meant to help alter blood flow and bring more oxygenated blood to the heart.
The procedure was done by Dr. Gerald Koenig, Dr. Ryan Gindi, and colleagues from the Division of Cardiology at Henry Ford Hospital in Detroit, Michigan on a patient who “has severe coronary artery disease and has suffered from refractory angina for a few years.”
According to Neovasc, refractory angina affects approximately 600,000 to 1.8 million Americans per year.
Placement of the Neovasc Reducer is done through a “minimally invasive transvenous procedure” and is said to take about 20 minutes to complete.
President and CEO of Neovasc, Fred Colen has said he was pleased about the recent implant of the Reducer, stating:
“We are pleased to provide this patient the opportunity to receive a Reducer implanted under Compassionate Use. As our studies and patients in multiple geographies, including Europe, Israel and Saudi Arabia, have shown, this device offers angina sufferers the potential to improve exercise capacity and resume a normal life, free of the pain and discomfort that has often limited their ability to perform normal daily activities.”
The Neovasc Reducer could possibly save hundreds of thousands of people from suffering through living with refractory angina.
Effects of Neovasc Reducer on Share Value
Shares of Neovasc rose over 20% after the announcement today and the company was able to close at a share value of USD $0.037.
On Tuesday, the company closed at a share value of $0.030.
Do you believe that the Neovasc Reducer could benefit patients living with refractory angina?
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