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Croi Valve


Lucyokeefecol

Lucy O'Keeffe
CroíValve

Web: www.croivalve.com

LinkedIn: View Lucy's Profile


CroíValve is developing a safe, effective, minimally invasive and easy to deliver medical device to significantly reduce tricuspid regurgitation in patients who are high risk for surgery

Tricuspid regurgitation occurs when the tricuspid valve in the heart does not close properly, allowing blood to leak into the right atrium. It significantly impacts mortality, risk of cardiovascular events and quality of life.

Currently 550,000 patients develop this disease in the US and Europe alone but less than 1% receive surgical treatment. This is because they are too high risk for surgery due to age and other co-morbidities demonstrating the significant clinical need for a minimally invasive solution. This means they live with a significantly reduced quality of life, as well as adding an enormous burden to healthcare systems as they require repeat hospitalisations.

Our proposed technology is safe, durable, cost effective and is technically straightforward to implant. The innovative elements of this proprietary solution are that it works in tandem with the native valve and uses existing interventional techniques for delivery. The resulting procedure is safe and easy to execute ensuring a high physician adoption rate for this solution which is a significant differentiator when compared to our competitors.

Having spent over a decade leading medical device and technology development in larger multinationals, I was keen to utilise the skills I’d developed to take more of a complete ownership in a startup environment. While I was exploring this, Prof Bruce Murphy contacted me about a Commercialisation Fund he’d secured for the development of a transcatheter heart valve device.

Once I learned more, it was clear this program had the right inputs of an unmet clinical need, a proprietary novel concept based on years of Interventional procedures and a great team with early stage medical device development experience and active clinical expertise. My commercial and program management experience, along with direct experience on an aortic transcatheter heart valve device, meant that I could add significant value to ensure successful commercialisation of this device.

There is no commercially available treatment of Tricuspid Regurgitation (TR) for patients who are too high risk for surgery. 550,000 patients develop this disease in the US and Europe every year. There is a significant market opportunity for any technology that can treat this cohort and will have a huge impact on their quality of life. The easy to delivery CroíValve solution will ensure wide spread adoption thus ensuring realisation of the full market potential

The price point of a percutaneous tricuspid repair device would be €20,000/device with an expected global market size of approximately €3Bn. Additionally this would ensure a value based healthcare offering, with a saving to the healthcare system of the €20,000/year currently spent on hospitalisations treating these patients.

We are currently completing pre-clinical and in vitro testing to prove the safety and efficacy of our novel solution. We are seeking significant additional funding for our spin-out company to undertake a first in human clinical trial. Our goal is to get this innovative device commercialised so that patients can benefit from a treatment option for tricuspid regurgitation.

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