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news.Svelte Medical Systems, a developer of deliverable balloon expandable stents, has entered into a licensing agreement with Cordis, a medical device company, for certain intellectual property rights around stent design and stent delivery systems.
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The agreement gives Svelte Medical exclusive rights to some intellectual property related to ‘stent-on-a-wire’ delivery systems as well as non-exclusive rights to several stent designs for use on the ‘stent-on-a-wire’ delivery system.
The company’s ‘stent on a wire’ system is a low profile, highly flexible stent system which navigates the vasculature in a similar fashion to a traditional guidewire.
This unique design may allow physicians to eliminate several steps in the current stenting procedure and reduce the need for some ancillary devices resulting in potential cost savings that could amount to as much as $1000 per case. The company is also pursuing a drug eluting version of their ‘stent-on-a-wire’ design.
Mark Pomeranz, president and CEO of Svelte Medical, said: “This agreement positions the company with strong intellectual property around a novel delivery system that we believe will bring benefits to clinicians and their patients around the world.”