Opportunity in TMVR, page-5

In this instance, 4C are referring to cardiac Valve replacement - for regurge (leaking valve) by not replacing the valve, but adding a separate valve structure.

From Memery, the deal with LeM was Cardiocel to be sold for very specific uses....patching congenital cardiac defects, fashioing vein/ artery like structures and repars to the aorta ....and use in cardiac valves was not one of the uses outlines in the deal...so Lem are not in a position to sell Cardiocel for use in valves so I gguess 4C will have to buy from admedus.

Or, thats how I read it......

Happy to be corrected.