Shares of BioCardia, Inc. (NASDAQ: BCDA) experienced a notable rise during the extended trading session on Wednesday, following recent advancements. As of the latest update, BCDA stock increased by 10.92% on the US stock charts, reaching a price of $3.15.
Table of Contents
Toggle- Patent Grant and Technological Advancement
- Market Impact and Technological Innovation by BioCardia
- Future Prospects and Market Expansion
Patent Grant and Technological Advancement
The USPTO has awarded Patent No. 12,036,371, entitled "Method of Accessing the Left Atrium with a Multi-Directional Steerable Catheter," to BioCardia, the company recently stated. This patent is valid until 2035 and is based on the company's Morph DNA technology.
The invention pertains to medical methods for transseptal access to the heart using steerable introducers, thereby enhancing the value of BioCardia's current and future products in this crucial market.
Market Impact and Technological Innovation by BioCardia
This technology will be beneficial to transseptal delivery procedures including repair of patent foramen ovale and atrial septal defect, ablation of atrial fibrillation, percutaneous mitral valve repair, percutaneous placement of left ventricular assist device, and closure of the left atrial appendage.
The worldwide market for transseptal access systems is anticipated to grow from $941.3 million in sales in 2022 to $2.1 billion by 2033 at a Compound Annual Growth Rate (CAGR) of 7.3%. The Morph DNA designs enable tensioning elements within the catheter to rotate around the catheter shaft, ensuring consistent performance in any direction.
The design's resemblance to a double helix, akin to a strand of DNA, inspired the name. This innovative approach aims to facilitate smooth navigation and prevent the "whip" effect, where mechanical forces cause a sudden shift in catheter orientation.
Future Prospects and Market Expansion
BioCardia's biotherapeutic interventions for heart failure, refractory angina, and acute myocardial infarction are expected to utilize this introducer technology platform moving forward. This sophisticated solution addresses a longstanding technical challenge, enhancing physician control during procedures.
BioCardia is dedicated to providing or partnering to deliver this solution for the approximately 500,000 transseptal procedures conducted annually in the United States, as well as for other vascular access markets that can benefit from the advantages of their patented technology.