Benzinga | Feb 1, 2021 07:04AM EST

Cardiovascular Systems, Inc. Announces Partnership With Chansu Vascular Techologies, LLC to Develop New Drug-Coated Balloon Technology

Cardiovascular Systems, Inc. (CSI(r)) (NASDAQ:CSII) announced today that it has partnered with Chansu Vascular Technologies, LLC (CVT) to develop novel peripheral and coronary everolimus drug-coated balloons (DCBs). This partnership brings together CSI's leadership in the treatment of calcified arterial lesions with Dr. Philippe Marco, a pioneer in the successful development of several drug-coated devices.

DCBs are a widely accepted percutaneous interventional treatment option for femoro-popliteal lesions in patients with peripheral artery disease (PAD), and are increasingly recognized for their potential in complex coronary artery disease (CAD), including their use in in-stent restenosis, small vessels, and bifurcation lesions. In these applications, DCBs offer the potential for sustained anti-restenotic efficacy without the limitations of permanent implants. Everolimus, the active drug in CVT's DCB formulation, acts as a cytostatic agent to reduce tissue hyperplasia and associated restenosis, and has a long history of safety and efficacy in coronary drug-eluting stent applications.

Philippe Marco, MD, founder of CVT said, "The CVT DCBs will be designed to capitalize on the proven long-standing anti-restenotic benefits of everolimus for the treatment of patients with cardiovascular lesions. This collaboration enables us to develop a new class of DCBs that we believe will improve patient outcomes."

Ryan Egeland, MD, PhD, CSI's Chief Medical Officer, said, "This partnership is consistent with our strategic vision to develop an innovative portfolio of new products. We believe these next generation DCBs will complement our current and growing portfolio of products for the treatment of complex coronary and peripheral disease. We are thrilled to be working with CVT in this partnership and are extremely confident that Dr. Marco and his team's extensive past DCB experience will prove invaluable in developing these next generation DCBs."

Under the terms of the agreements signed with CVT, CSI will provide milestone-based financing to CVT for the development of the DCBs. Under an acquisition option agreement, upon CVT's completion of key technical and clinical milestones in the development program, CSI will have exclusive rights and obligations to acquire CVT, subject to the satisfaction of closing conditions set forth in the agreement.