Genesis MedTech has divested its subsidiary, JC Medical, including the intellectual property and commercial rights of its J-Valve system, to Edwards Lifesciences.
The J-Valve System is a transcatheter aortic valve replacement (TAVR) system for the treatment of severe aortic regurgitation.
The transaction features an upfront payment and potential sales-based milestones, but the firms have not disclosed the exact amounts.
Singapore-based Genesis MedTech holds exclusive rights to develop, manufacture, and commercialise the J-Valve System in Greater China.
The company completed patient enrolment and a one-year follow-up for the J-Valve TF clinical study for aortic regurgitation in China in July 2023.
In August 2023, JC Medical’s J-Valve TF received breakthrough device designation from the US Food and Drug Administration (FDA).
By February 2024, JC Medical had completed enrolment in its early feasibility study of the J-Valve TF in the US. The FDA approval to begin the clinical trial was granted in the first half of 2024.
Additionally, Edwards Lifesciences has invested $25m in Genesis MedTech to support its product and market development.
Genesis MedTech Group chairman and CEO Warren Wang said: “J-VALVE has unique advantages in treating aortic valve regurgitation.
“We hope that J-Valve can expand its global impact, enabling more patients to benefit from this innovative product.
“We will continue strengthening our focus on developing innovative products and explore better medical solutions to benefit more patients worldwide.”
The acquisition is the latest in a series of deals Edwards Lifesciences has completed in recent months.
In July, the US-based medical technology firm unveiled its plans to acquire JenaValve Technology and Endotronix for a combined value of $1.2bn.
In the same month, the company finalised a deal to acquire transcatheter mitral valve replacement (TMVR) maker Innovalve Bio Medical.
Concurrently, Edwards Lifesciences also concluded a series of agreements worth €15m with France-based Affluent Medical.
In June, the medical technology company agreed to divest its critical care product business to US-based BD (Becton, Dickinson and Co.) for $4.2bn in cash.
