NIDO Surgical said its epicardial ablation technology, SEPIA (Solution for Epicardial Ablation), has been acquired by an undisclosed medical device company involved in the electrophysiology space. As part of the transaction, the buyer has agreed to accelerate product development of the device.
NIDO developed SEPIA to enable electrophysiologists to provide a range of therapies to the epicardial surface of the heart, with initial applications focused on treating arrhythmias, including ventricular tachycardia (VT) and atrial fibrillation (AFib). SEPIA will allow visualization of the epicardial surface and provide stability and control to complementary devices, such as ablation catheters. Ultimately, SEPIA is expected to improve the safety and efficacy of epicardial procedures, which may lead to reduced complications and lower rates of arrhythmias post-ablation.
"This strategic acquisition by a fast-growing company in the electrophysiology space demonstrates the value of the SEPIA technology and the commercial opportunity to provide tools for epicardial access," said Thomas Marchand, President, and CEO of NIDO. "The buyer has committed to accelerating product development to capitalize on the opportunity in the arrhythmia market."
"Gaining the ability to directly visualize a target area on the heart to deliver therapy safely will greatly enhance electrophysiologists' ability to treat life-threatening arrhythmias. Indeed, the SEPIA access tool could enable innovative therapies for a broad range of heart diseases," said Pedro del Nido, Co-Founder of NIDO Surgical, Chairman of Cardiovascular Surgery at Boston Children's Hospital, and William E. Ladd Professor of Child Surgery at Harvard Medical School.
Prior to the sale, NIDO received two Small Business Technology Transfer (STTR) grants from the National Institutes of Health (NIH) totaling $1.8 million and an additional $2.9 million from private investors.
"Broadview Ventures has been an active supporter of NIDO since 2017. We have been proud to collaborate with the NIDO team in the early development of SEPIA," said Daniel Gottlieb, Associate Director of Broadview Ventures. "NIDO's combination of dedication, creativity, and clinical expertise has been instrumental in delivering an innovative device to address the needs of patients suffering from arrhythmias."
The terms of the transaction will not be disclosed.