VDYNE receives major award

VDYNE, INC, Inc. (“VDYNE” or “the Company”), a privately held medical device company founded by Jean Boulle Medtech to develop a transcatheter replacement valve for the treatment of tricuspid regurgitation (“TR”), announced today that it is the co-recipient of the Innovations in Cardiovascular Interventions & High-Tech Science Industry World Startup Competition 2020. This award is one of the world’s most significant and prestigious awards for medical interventions (ICI 2020).

VDYNE has completed pre-clinical testing, including the completion of good laboratory practice compliance and a range of mandatory pre-clinical testing steps for its novel transcatheter replacement valve. VDYNE’s unique technology is designed to enable replacement of the existing dysfunctional tricuspid valve following delivery of a new prosthetic valve over a catheter (as opposed to open-heart surgery), reducing mortality rates and the related surgical complications. The valve is designed to be completely repositionable and retrievable to enable precise placement by the physician.

Commenting on the announcement Jean Raymond Boulle II, Director of Jean Boulle Medtech, said:

“I congratulate our VDYNE team in winning the award for cardiovascular innovation at ICI 2020. We have made an outstanding contribution to the development of a technology to treat a debilitating condition that impacts the general health and quality of life for a substantial portion of the population.”

“This accolade comes at an exciting juncture for the VDYNE technology as we begin to develop our programme of human trials, which will begin in the first quarter of 2021.”

“This award also comes at the conclusion of an already successful 2020 for Jean Boulle Medtech, which saw its lifesaving Tendyne mitral valve receive a CE mark earlier this year, authorizing its use throughout Europe.”

ENDS

Audrey Richardson

Jean Boulle Medtech

+352 222 512

Michael Oke/ Andy Mills

Aura Financial

+44 207 321 0000

VDYNE has a strong and highly experienced team with a proven track-record in structural heart and the development of transcatheter therapies, including in the adjacent mitral valve replacement space.

TR occurs when the tricuspid valve does not close properly, blood flows backwards from the right ventricle into the right atrium instead of progressing to the heart for re-oxygenation. This “regurgitation” is a debilitating condition that impacts the general health and quality of life of approximately 5% of the elderly population. More importantly, surgical intervention to treat TR has high rates of mortality and morbidity, and there are presently no approved minimally-invasive valve replacement treatment alternatives.

Part of the Jean Boulle Group, Jean Boulle Medtech Ltd. is an active investor in a wide range of early stage medical technologies and has a particular track record in the development of medical devices for use in cardiology.

Jean Boulle Medtech was the founding investor of Tendyne Holdings, Inc. which developed one of the most promising Transcatheter mitral valve implant (“TMVI”) devices in existence today. Abbott Laboratories (NYSE: ABT) (“Abbott”) acquired Tendyne Holdings in 2015 for a total consideration of US$400 million excluding Abbott’s existing 10% of the company. Tendyne Holdings’ transcatheter mitral heart valve implant received CE Mark approval from the European Union in early 2020.