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Biotech / Medical : World Heart Corp - WHRT and TSE/WHT -- Ignore unavailable to you. Want to Upgrade?

To: the Chief who wrote (260)	5/17/1999 3:05:00 PM
From: Dan Hamilton	Read Replies (1) \| Respond to of 500

Here is another intriguing potential competitor to World Heart. I met a venture capitalist who had invested in APEX Medical. They are farther behind World Heart in the approvals process, but offer some advantages. If anyone knows any more, please post... Apex Implantable LVAD Gets Funding Zero Stage Capital Company has committed $1.5 million to help Apex Medical Inc develop a fully implantable, self contained heart assist device to help patients recover from congestive heart failure. They are rounding up other investors in an expected $6 million first round of funding for the project. Apex's approach is based on minimum moving parts, better than existing pumps, which tend to be large and heavy. A vice president of Zero Stage Capital says, "The way the Apex LVAD mimics actual heart action is the key to reliable operation. This is unique and promises to single out this device over the long term." He added that the new device uses technology initially developed by IBM. This technology is patent protected in the USA, and patents have been applied for in 21 other countries. Animal testing of the LVAD is set to begin later this year. The Apex CEO Kuchta said "Our pump, in contrast to other LVADs, uses a reciprocating valved piston to produce a pulsating blood flow, uses the patient's blood as a lubricant, and has no hard bearing surface contacts. The pump is designed for long term reliability and to reduce infection risk. While 2,500 hearts in the USA are available each year for transplant, up to 40,000 people could benefit from them. As our population ages, the problem becomes worse, since successful transplants require healthy hearts." The APEX device is intended for end-stage heart failure patients who are awaiting transplant. A follow-on design will use the device with a blood pressure sensor and monitoring device as a long-term alternative to heart transplant.