Neovasc Inc.

www.neovasc.com

Formerly Medical Ventures Corp.

High-Tech Company

Acquired by Shockwave Medical

TECH VERTICALS

Cardiovascular, Healthtech, Life Sciences, Medical Devices, MedTech

General Data

Sector	Medical Devices
Company Stage:	Revenue Growth
Established	2000
Number of Employees	55

DESCRIPTION

Neovasc is a leader in the development of minimally invasive therapies for two of the most vexing challenges in cardiovascular care: refractory angina and mitral valve regurgitation.

The company is committed to clinical rigor and collaborates with researchers and clinicians in Canada, the United States, Europe, and the Middle East. Our products, the Reducer™ and Tiara™ systems, represent the forefront of innovation in treating advanced heart disease.

Reducer is CE-marked for use in the EU and is FDA approved for investigational use in the US. Tiara is not commercially available and is currently being evaluated in two ongoing clinical trials.

Headquartered in Vancouver, BC and Minneapolis, MN, Neovasc is publicly traded on both the NASDAQ and the Toronto Stock Exchange (NVCN).

TECHNOLOGY

Medical devices; Redistribution of myocardial blood flow by mean of placing a unique device in the cardiac venous system.

Products and Phases

Product	Phase
Tiara	Phase I
Tiara is a novel transcatheter device designed to treat mitral regurgitation (MR), a condition that is often severe and can lead to heart failure and death. Neovasc is developing the Tiara for the treatment of severe MR, a condition that affects approximately four million patients in the U.S. alone. Currently, conventional surgical treatments are only appropriate for about 20% of these patients, leaving the majority of patients untreated. The Tiara device is delivered through the apex of the heart to replace the mitral valve while preserving the integrity of the surrounding structures of the heart. This is an investigational device only at this time and is not for sale in any geography. Tiara has been designed specifically to meet the need for transcatheter replacement of the mitral valve, rather than being adapted from an aortic valve. Tiara implantation is achieved through a transapical approach and does not require any hemodynamic support.
Reducer	CE Approved
An effective percutaneous treatment for refractory angina, a severely debilitating condition that affects millions globally. Resulting from inadequate blood flow to the heart muscle, refractory angina (RA) can often cause recurrent and severe heart pain that may be difficult to manage through conventional drug, catheter, or surgical therapy. RA patients typically experience significant disability and impaired quality of life with few options for relief or improvement in their symptoms. The Neovasc Reducer has been shown to be a safe and effective treatment for RA. Using a procedure similar to a coronary stent implantation, the Reducer procedure uses standard catheter-based techniques. As with any medical procedure, there are risks associated with the use of the Neovasc Reducer™ System, including but not limited to myocardial infarction, continued angina, and implant migration/dislodgement requiring medical intervention. For a complete list of complications, see the Instructions for Use.

ESTIMATED ANNUAL SALES

	TARGET MARKETS
	Patients who suffer from refractory angina, Patients who suffer from mitral regurgitation (MR)

	BUSINESS MODEL
	B2B

SERVICE PROVIDERS

Company Name	Type
abC Defghij	Law Firm
abC Defghij	Accounting Firm

REMARKS

Date	Remark
01/12/2009	closed the Israeli offices
01/07/2008	B-Balloon and Neovasc Ltd. merged into Medical Ventures Corp., later renamed Neovasc Inc., on equal values, through a share swap. Of the non-floated shares, 10% is held by Phillip Frost and a group of investors, and the rest was divided equally between the three companies. The company is planning to list its stock on the American Stock Exchange (AMEX).

CONTACT INFO

Expand / Collapse All

Main Address: Richmond, BC, Canada

Address	13700 Mayfield Place #2135
City	Richmond, BC
Country	Canada
Zip	V6V 2E4

Contact Person	abC Defghij
Company E-mail	abC Defghij
Telephone	abC Defghij
Fax	abC Defghij

Branch Address: Minneapolis, United States

Address	900 Long Lake Road Suite 300
City	Minneapolis
State/Province	MN
Country	United States
Zip	55112

Contact Person	abC Defghij
Company E-mail	abC Defghij
Telephone	abC Defghij
Fax	abC Defghij

	MANAGEMENT

Key Executive

Name	Title	Previous Position
Mr. Fred Colen	President & CEO
Mr. Christopher Clark	CFO
Mr. Bill Little	COO
Ms. Lisa Becker	VP, Regulatory Affairs
Ms. Sarah Gallagher	VP, Clinical Affairs
Mr. John Panton	Chief Quality Officer
Prof. Shmuel Banai	Medical Director	Innovea (Medical Director)

	BOARD

Board

Member	Title	Affiliation
abC Defghij	Chairman	EVP & Director, OPKO Health
abC Defghij	Board Member	CEO, Neovasc Inc.
abC Defghij	Board Member	Founder, Medical Ventures Corp.
abC Defghij	Independent Director	President & CEO, Cardiome Pharma Corp.
abC Defghij	Board Member	CEO, Neovasc
abC Defghij	Board Member	CEO & Founder, RADCO

Mergers & Acquisitions

Round

Date

Stage

Amount

Valuation

Acquired

Apr. 11, 2023

Revenue Growth

abCDe

Public Offerings

Deal Date	Type of Offering	Exchange	Amount Raise	Valuation	Remarks
Nov. 17, 2017	Third Public Offering	TSX	abCDe	abCDe
May. 21, 2014	Listing	NASDAQ CM	abCDe	abCDe	04/2023: Delisted following the acquisition by Shockwave Medical
Mar. 27, 2014	IPO	TSX	abCDe	abCDe	04/2023: Delisted following the acquisition by Shockwave Medical
Mar. 12, 2002	Listing	TSX Venture	abCDe	abCDe	Formerly traded under MEV

	FINANCIAL ROUNDS

Total Capital Raised
abCDe

Financial Rounds

Numbers of Investors

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Round

Date

Stage

Amount

Valuation

PIPE

Nov. 17, 2017

Revenue Growth

abCDe

PIPE

Dec. 13, 2016

Revenue Growth

abCDe

$67.9m for Neovasc’s tissue processing technology & facility, and an additional $7.1m in exchange for a 15% equity interest in the company.

* New investor

Investor	Type	Amount	Remarks
abC Defghij	High-Tech Company	abCDe

Buyout

Nov. 04, 2014

Initial Revenues

abCDe

PIPE

Apr. 24, 2009

Initial Revenues

abCDe

PIPE

Jul. 02, 2008

Initial Revenues

abCDe

* New investor

Investor	Type	Amount	Remarks
abC Defghij	Venture Capital Fund	abCDe	11/2014: Sold a third of its shares to Fidelity Select Medical Equipment & Systems Portfolio for $12m.
abC Defghij	Family Office	abCDe
abC Defghij	Private Investor	abCDe
abC Defghij	Other	abCDe	Part of the Frost Group.
abC Defghij	Other	abCDe
abC Defghij	Other	abCDe
abC Defghij	Other	abCDe
abC Defghij	Private Investor	abCDe
abC Defghij	Other	abCDe	Part of the Frost Group.

Other

Feb. 01, 2008

Initial Revenues

abCDe

* New investor

Investor	Type	Amount	Remarks
abC Defghij	Private Investor	abCDe	After the merger will hold approximately 20% of the company

Other

abCDe

Last Updated:	abCDe
IVC Number:	abCDe