(MENAFN- EIN Presswire)
$10 billion Heart Bypass Surgery market
Manny Villafana, Chairman and Founder at Medical 21
Cardiovascular disease remains mankind's No.1 killer, claiming 17 million lives globally every year, despite more than a million heart bypass surgeries
With our experience and successes, we are ready to pursue the 'holy grail' of cardiac surgery, a small diameter graft for bypass surgery that has evaded manufacturers and health institutions for 50yrs” — Manny Villafana, Chairman and Founder Medical 21MINNEAPOLIS , MINNESOTA , UNITED STATES , September 28, 2022 / / -- $10 billion heart bypass market is target for pioneering 's $40 million equity offering
Cardiovascular disease remains mankind's No.1 killer, claiming 17 million lives globally every year, despite more than a million heart bypass surgeries.
And those procedures are painful and invasive, with lengthy recovery times, but pioneering U.S. medtech company Medical 21 now aims to equity crowdfund $40 million to change that narrative, saving many lives and disrupting a bypass surgery market alone valued at $10 billion a year
Heart disease is increasing exponentially. The Journal of the American College of Cardiology, reports that cardiovascular disease cases almost doubled globally to 523 million over the past three decades, deaths rose from 12.1 million to 18.6 million, while disability-adjusted life years (DALYs) and years lived with disability doubled to 34.4 million.
Medical 21 Founder and CEO Manny Villafaña, PhDSc leads a stellar team, including cardiovascular surgeons, researchers, and important figures from world leading institutions, who aim to eliminate the pain from harvesting vessels using their pioneering artificial heart graft designed to transform the lives of a million cardiac patients needing bypass procedures.
His previous heart product innovations have positively impacted over 15 million people and led to three exits delivering $57.4 billion in shareholder value, through acquisitions by the likes of Abbott, Boston Scientific, and Medtronic.
Such achievements have earned Dr. Villafaña a reputation as the 'Living Legend of Medicine,' and he fully expects Medical 21 to be his greatest:“With our experience and successes, we are ready to pursue the 'holy grail' of cardiac surgery with a small diameter graft for bypass surgery that has evaded manufacturers and health institutions for 50 years.”
He explains that Medical 21's work in materials science and other disciplines has created a pioneering biocompatible bypass graft, designed to assimilate itself into the patient's body.
This eliminates 'harvesting' of blood vessels from the patient's legs, arms, or breasts, which is an intrusive, painful, and even dangerous procedure with no guarantee of success; there is a 20-30% failure rate during the first year and 50% after five years.
With no need for such harvesting, Medical 21 anticipates lower failure rates with its new bypass graft, plus higher quality of life for the patient through less pain and scarring and a faster recovery, while the costs of surgery and impact on hospital resources are far lower.
This graft also allows people who currently cannot have bypass surgery — those with amputations, severe diabetes, or varicose veins — to be considered for the procedure.
The Minneapolis-based company, founded in 2016 and funded so far by private investment, has this week been reported to have secured a further $20m in commitments via a Regulation D security offering.
Medical21 is also embarking on its $40 million RegA+ crowdfunding to complete clinical studies/human trials for regulatory approval, and to scale manufacturing capacity, sales and marketing, and operations in readiness for global delivery of its breakthrough tech.
Ends
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Medical 21 Inc is a developmental stage medical device company founded by Manny Villafaña, PhDSc, in Minneapolis, Minnesota, developing and bringing to market an artificial graft to bypass blockages in the heart. This revolutionary product is supported by a team with decades of experience in the successful development, manufacturing, sales, and marketing of medical products to the domestic and international healthcare markets. The Medical 21 artificial graft is not yet FDA approved or cleared. It is for investigational use only and not yet available for commercial sale.
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