Vessix Vascular

About Vessix Vascular

Vessix Vascular, founded in 2003 and formerly known as Minnow Medical Inc., operated as a privately held medical device company focused on developing treatments for uncontrolled hypertension. The company's history is linked to Minnow Medical, which initially aimed to treat peripheral artery disease using a radiofrequency (RF) generator and a multi-electrode catheter. After facing funding challenges, Minnow Medical was acquired by an investor group led by Fjord Ventures, which repurposed the core technology to address hypertension through renal denervation, leading to the formation of Vessix Vascular. A key figure in this transition was Olav Bergheim, the Founder and Managing Director of Fjord Ventures. In a significant milestone, Boston Scientific Corporation acquired Vessix Vascular in November 2012 for an upfront payment of $125 million, with potential for an additional $300 million in milestone payments.

The company's core business was the development and commercialization of a catheter-based renal denervation system. This technology targeted the market for treating resistant hypertension, a condition where patients' high blood pressure is not controlled by medication. The business model revolved around selling its proprietary medical device system to healthcare providers, specifically interventionalists performing catheter-based procedures. The target clients were hospitals and clinics with cardiovascular and interventional radiology departments.

Vessix Vascular's flagship product was the V2 Renal Denervation System, which received CE Mark approval in Europe and TGA approval in Australia. This system consists of a balloon-based catheter with multiple electrodes and a bipolar RF generator. During the procedure, the catheter is inserted into the renal artery. The balloon is then inflated, bringing the electrodes into contact with the artery wall. Radiofrequency energy is delivered for approximately 30 seconds to disrupt the surrounding renal sympathetic nerves, whose overactivity contributes to high blood pressure. The system's bipolar design localizes energy delivery between the electrodes, while temperature is controlled to a target of 68°C to ensure safety and effectiveness. This approach was designed to be faster and cause less patient discomfort compared to competing monopolar systems.