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News — NEW YORK – November 6, 2024 – The Cardiovascular Research Foundation^® (CRF^®) is pleased to announce that Symbiosis has won the TCT^® 2024 Shark Tank Innovation Competition for its development of an adjustable transcatheter mitral valve replacement (TMVR) system. The competition took place during Transcatheter Cardiovascular Therapeutics^® (TCT^®), the annual scientific symposium of CRF^® and the world’s premier educational meeting specializing in interventional cardiovascular medicine, October 27-30 in Washington, DC. The winner was also presented with the Jon DeHaan Foundation Award for Innovation in Cardiology.

“We are thrilled to name Symbiosis this year’s TCT^® Shark Tank Innovation Competition winner,” said Juan F. Granada, MD, President and Chief Executive Officer of CRF^®. “Their invention has the potential to overcome some of the limitations of current TMVR systems by adapting to more complex anatomies.” 

Symbiosis’ ValSync is a TMVR system comprised of two balloons made of a flexible deformable material that can expand to fit the surrounding valve anatomy allowing for real-time customization of size, shape and anchoring to unique anatomy. According to the company, some of its potential benefits include a wider eligibility of patients, superior safety profile, and a short learning curve given its three-step procedure.

“We are currently in preclinical studies to test the implant and delivery system,” said Shira Burg, DVM, PhD, Founder and CEO of Symbiosis who presented at the TCT^® Shark Tank Competition. “We are also filing a pre-submission to the FDA to approve the development plan and are aiming to enter first in human testing in the third quarter of 2026. Winning the TCT^® Shark Tank Competition is an honor and validates the importance of the work we are doing.”

Now in its eleventh year, the TCT^® Shark Tank Innovation Competition highlights the most current innovative device concepts and technological developments with the potential to disrupt the cardiovascular field and dramatically change how patients are treated.

“A distinguished panel of multidisciplinary experts judged the entrants on the six criteria established for the competition at its inception: unmet clinical need, technology differentiation, IP position/viability, biological proof of concept, regulatory pathway, and commercialization potential,” said Greg L. Kaluza, MD, PhD, Senior Director of Research, CRF Skirball Center for Innovation. “This year’s competition featured many groundbreaking advancements, and we are honored to recognize a company like Symbiosis for their innovation and dedication to advancing the field.”

For the seventh year in a row, the TCT^® Shark Tank Innovation Competition partnered with the Jon DeHaan Foundation to provide a $200,000 award for the winner. The Jon DeHaan Foundation is dedicated to supporting those working to advance cardiac medicine and provides grants and awards to individuals and companies who focus on innovative developments in cardiovascular medicine, including research, prevention, diagnosis, treatment, or rehabilitation.

“CRF^® is truly grateful to the Jon DeHaan Foundation for their generous continued support of pioneers in the field dedicated to developing novel technologies for the diagnosis and treatment of cardiovascular disease,” added Dr. Granada.

About CRF^® and TCT^®

The Cardiovascular Research Foundation^® (CRF^®) is a global leader in interventional cardiovascular medicine, driving innovation, spearheading groundbreaking research, and transforming education in the field. Through its relentless pursuit of excellence, CRF^® not only accelerates medical breakthroughs but also equips healthcare professionals with the tools and knowledge necessary to enhance survival rates and elevate the quality of life for millions worldwide. CRF’s centers of excellence include the CRF Skirball Center for Innovation, CRF Clinical Trials Center, CRF Center for Education, CRF Digital, TCTMD, and Structural Heart: The Journal of the Heart Team.

Transcatheter Cardiovascular Therapeutics^® (TCT^®) is the annual scientific symposium of CRF^® and the world’s premier educational meeting specializing in interventional cardiovascular medicine. Anchored in a legacy spanning over three decades, TCT^® is a world-class educational experience featuring disruptive innovation, scientific breakthroughs, expert-led tutorials, hands-on training, and ample opportunities for networking and collaboration.

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