4 February 2020 - - US-based VADovations, Inc., a company developing miniaturised cardiac assist pumps has inked an agreement to license intellectual property from Mayo Clinic for endovascular deployment of VADovations' novel cardiac assist pump for long-term use in patients suffering with heart failure, the company said.

This next generation technology is designed to avoid open surgical implantation while addressing the limitations of current blood pumps.

Heart failure is a serious problem affecting 550,000 patients annually in the US alone. Left untreated, it is more fatal than cancer and options are limited as heart failure progresses.

Heart transplantation is effective at end-stage but is limited to only 3,500 hearts annually.

The growing field of Mechanical Circulatory Support systems offers alternatives for cardiothoracic surgeons and interventional cardiologists.

VADovations maintains an affiliation with INTEGRIS Health, Oklahoma's largest health care provider, a not-for-profit system that enjoys distinction for innovation, leading-edge medicine and is a member of the Mayo Clinic Care Network.

Mayo Clinic, Integris Health and Dr. Asirvatham have financial interests in the technology referenced in this announcement.

Mayo Clinic and Integris will use any revenue they receive to support their not-for-profit missions in patient care, education and research.

Northland Capital Markets is acting as financial advisor to VADovations.