Cardiovascular Systems (CSI) has entered into a collaboration with Innova Vascular for the development of a full line of novel thrombectomy devices.

Thrombectomy is an interventional procedure used for the removal of blood clots from arteries and veins.

CSI aims to purchase and commercialise novel thrombectomy devices from Innova to target peripheral vascular disease, including deep vein thrombosis (DVT) and pulmonary embolism (PE).

Innova CEO Sanjay Shrivastava said: “We are excited to partner with CSI, which has been serving the interventional cardiology, interventional radiology, and vascular surgery communities that will be the primary users of Innova products.

“CSI’s commercial presence in this space makes it an excellent fit for accelerating the commercialization of Innova’s products post regulatory clearances.”

As per the terms of the agreement, Innova has received financing to develop thrombectomy devices.

CSI will be provided with exclusive rights to purchase the thrombectomy devices, under an acquisition option agreement that is subject to the satisfaction of closing conditions and upon Innova’s completion of crucial technical, regulatory and clinical milestones in the development programme.

The company intends to commercialise a portfolio of manual aspiration and clot retrieval devices, which are yet to be approved by the FDA, to treat peripheral vascular disease in its fiscal 2023.

Upon completion of subsequent clinical trials, the portfolio and corresponding indications for use are anticipated to be extended to include treatment of DVT and PE.

CSI chairman, president and CEO Scott Ward said: “The commercialisation of these thrombectomy devices will be an important addition to our growing pipeline of products.

“In total, developing novel drug coated balloons, intravascular lithotripsy, mechanical circulatory support, and thrombectomy devices target some of the fastest growing segments within interventional cardiology.”

In March last year, CSI acquired a peripheral support catheters from WavePoint Medical for an undisclosed sum.