Maxwell Biomedical Completes Acquisition of Cardialen's Assets

PR Newswire

SAN DIEGO, Dec. 14, 2022

Acquisition expands the Maxwell Biomedical product and intellectual property portfolio.

SAN DIEGO, Dec. 14, 2022 /PRNewswire/ -- Maxwell Biomedical announced today that it has completed the acquisition of Cardialen's assets. Cardialen, a Minneapolis, MN based company developed MultiPulse$(TM)$ Therapy (MPT(TM)), a low-energy defibrillation and cardioversion therapy designed to treat atrial fibrillation (AFib) and ventricular tachycardia $(VT)$. The Cardialen technology compliments Maxwell's proprietary Spatial Resynchronization(TM) Therapy (SR(TM)T), both of which are intended to provide safe, effective, pain-free, device-based alternatives for the long-term treatment of AFib.

The basis of both technologies is the concept of delivering critically timed ultra-low-energy pulses to restore abnormally rapid heart rates to a normal rhythm. While SRT is intended to treat AFib, MPT has been tested in both AFib and VT. "The acquisition of Cardialen's assets further advances our AFib therapy and broadens our technology's indications," stated Randy Werneth, CEO of Maxwell Biomedical, "The knowledge gained from their multiple clinical studies can help accelerate the development of Maxwell's novel AFib therapy."

Atrial Fibrillation

Atrial fibrillation is the most common heart arrhythmia affecting over 33 million patients worldwide.(1) It occurs when the upper chambers beat uncontrollably and are out of synchronization with the lower chambers of the heart. The lack of coordinated contractions during prolonged episodes of AFib increases the likelihood of blood clot formation and reduces the amount of blood available to pump to the body. AFib increases stroke risk five times(2) , increases mortality rates two-fold in heart failure patients(3) and costs the United States healthcare system $26B annually(1) . Current AFib treatment options include outpatient cardioversion, rate or rhythm control medications and catheter ablation. SRT would offer patients a non-destructive, minimally invasive option to treat their AFib.

About Maxwell Biomedical

Maxwell Biomedical is a development stage, science driven, innovative medical technology company with outstanding people dedicated to advancing long-term solutions for patients with Atrial Fibrillation. Maxwell is developing a first-of-its-kind atrial pacing device that automatically detects AFib and imperceptibly delivers SRT to restore and maintain a normal heart rhythm. Device monitoring and cloud connectivity ensures active and continuous patient care and management. Founded in 2019, Maxwell Biomedical is based in San Diego, CA. Learn more at www.maxwellbiomedical.com.

Contact

Randy Werneth

CEO

Randy@maxwellbiomd.com

+1.858.877.3070

Sources

Maxwell Biomedical

   1. Chugh SS et al. Circulation;129:2014. 
 
   2. Virani SS et al. Circulation;143:2021. 
 
   3. Chamberlain AM et al. Circ: Heart Failure;4(6):2011 

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SOURCE Maxwell Biomedical

(END) Dow Jones Newswires

December 14, 2022 09:06 ET (14:06 GMT)