Imperial Innovations celebrates investment momentum

Imperial Innovations Group noted on Monday that its portfolio company, Veryan Medical, has completed enrolment into the MIMICS-2 clinical study of its BioMimics 3D Self-Expanding Stent System.

The AIM-traded firm said the MIMICS-2 study is a prospective, multicentre, interventional study designed to evaluate the safety and effectiveness of Veryan's patented three dimensional helical stent in the treatment of patients with symptomatic femoropopliteal disease.

It said the study is being conducted under a US Food and Drug Administration Investigational Device Exemption (IDE), with Japanese Pharmaceuticals and Medical Devices Agency concurrence under the ‘Harmonisation By Doing’ initiative, in order to provide safety and effectiveness data to support future marketing applications for BioMimics 3D in both the US and Japan.

BioMimics 3D has previously been awarded the CE Mark and is actively being sold across Europe, Imperial’s board reported.

Enrolment in the MIMICS-2 study concluded with a total of 271 patients enrolled across 47 investigational sites in Germany, the US and Japan.

As at 31 July 2016, Imperial Innovations had a 46.1% interest in the issued share capital of Veryan with a net investment carrying value of £26.5m.

“Completion of enrolment into the MIMICS-2 is an important milestone for Veryan on its path to the global commercialisation of its unique stent technology,” said Imperial Innovations chief investment officer Dr Nigel Pitchford.

“We are very pleased with the speed at which enrolment has been completed, which is a testament to the investigating physicians' enthusiasm for recruiting patients and the efficiency of the Veryan team.”