Medtronic, Ardian, Mark discussed on MedTech Talk Podcast
Tech conference dot com today, we'll talk about their highest profile success to date Ardian, which is easily one of the biggest stories in med tech startups over the past two decades Ardian had a huge win a huge high in two thousand eleven Medtronic announced it would pay eight hundred million dollars up front this startup company that pushed the once kinda crazy sounding idea of a blading renal nerves to lower hypertension Ardian raised about seventy million dollars from some really. Excellent. Blue chips CVC's was forged in the foundry. So had a great pedigree and VC's proudly shared that the urn outs for could push the the final purchase price over billion dollars. So this was a huge win for midtech when it desperately needed at hell. It was two thousand eleven three years after the big recession ever needed a big win. But attacks return in attack that felt really good. But then came the low day before a couple of days before J P Morgan's healthcare meeting in two thousand fourteen Medtronic announced that early results of simplicity ATM three. This is the third clinical trial a larger trial that included randomize single blind sham control elements produce disappointing results showed no difference between the control arm and the treatment arms. So things were bleak. Renal innovation was dead until it wasn't. Let's get into the center of you. Do you lake talking about or do you feel? It's sort of you. Okay. I mean, it was enormous success story. And I just it's just. It's a it follows a classic drama. You know is under a medic opera. Yeah. Highs and lows. We cover their redemption stage. So we've been. Deemed now, it's fun to talk about the there wasn't. Hey, Mark early would not Mark wasn't marking in the in the former Soviet Union. Didn't they have rehabilitation? Are we being real hickory abilities? Yeah. So what happened? Why is innovation back in favor? So you early on in two thousand fourteen a lot of supporters felt that the Metron trial wasn't designed properly in Metron ick has revised its trial, and it actually improves the device this time the trial. That's undergoing is called Sproul. And it includes patients who have taken anywhere from zero. So no meds to three meds. Whereas the simplicity trial patients took an average of five minutes this trial. Also, excludes patients with isolated systolic hypertension who are typically resistant to Reno renovation. So in these revised trials the results have been a lot more favorable rental innovations showing that works so this exonerated audience early backers. And of course, Guelph in eleven because it was their reputation really on the line..