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.
Opportunity in TMVR, page-5
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