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NEW life for Ventracor . . . an artificial heart.


US implant pumps up Ventracor price
Liam Walsh
19jul05
HEART device maker Ventracor has hit a milestone after its medical pump was surgically implanted into a US patient, marking the beginning of a trial.




The news propelled shares in Ventracor, which began life in Brisbane as a company called Micro Medical and is currently making a blood pump, up 9¢ to $1.51.

Trials of the VentrAssist device have already started in patients in Europe and Australia but the US is a key market.

Ventracor says the global market, where it will compete with rivals, could be worth between $US7 billion ($A9.3 billion) and $US12 billion within a decade.

The now Sydney-based Ventracor was expected to have implanted a device in a US patient by the middle of this year as part of a 10-person pilot study. These patients are sick and awaiting a heart transplant.

"It proves we're meeting our milestones," Ventracor chief executive officer Colin Sutton said.

Foster Stockbroking biotechnology analyst Jocelyn Laurence said the news marked a step into the valuable US market. It would increase the Ventracor's profile with US investors.

Dr Laurence also said Ventracor had encountered some difficulties with enrolments in other trials so meeting this milestone was important.

Ventracor expects to be eligible for a share of reimbursement of between $US125,000 and $US130,000 for each device implanted in a patient. "That significantly cuts down the costs of the (US) trial," Dr Laurence said.

But a patent dispute with rival Heartware was holding back potential long-term investors and needed to be resolved, she said.

ABN Amro Morgans said the implant was positive news but listed a number of milestones to be met.

The next one was for Ventracor to finish recruiting patients for the European trial by the end of this year. It must also undertake further US trials.

"We're hoping to be able to make sales in Europe during next year," Dr Sutton said. Almost 30 patients globally have been implanted with the titanium-made, 298g device.