Neovasc Inc (US)(NASDAQ:NVCN) reported that the “InEk” has given its Neovasc Reducer™ NUB status 1 designation for this year. InEK, is accountable for prioritizing new treatments in Germany via the NUB procedure. More recently, InEK changed the designation of the Neovasc Reducer to status 1 from status 4.
The buzz
A NUB decision remains valid for a year and can be renewed yearly. The NUB procedure opens the way for negotiations between health insurances and hospitals on the reimbursement of latest medical therapies in the German system. Depending on the updated NUB status 1 for the Reducer, as many as 107 German hospitals can now discuss reimbursement coverage for Reducer treatment under the German health insurance program.
Fred Colen, the CEO of Neovasc, expressed that this notable upgrade to the NUB status 1 is a thrilling advancement for the Reducer therapy in Europe. For several patients Angina continues to be a significant problem and many of patients have limited treatment options in the present time. This positive NUB advancement will enable additional patients with refractory angina to be cured with the Reducer in Germany.
The Reducer has CE-marked in the EU as a treatment for refractory angina. This disease affects millions of people worldwide, who usually struggle with severely restricted lives as an outcome of their disabling indications, and its incidence is rising. The Reducer offers relief of angina indications by changing blood flow in the circulatory system of heart. Placement of the Reducer is done utilizing a minimally invasive transvenous process that is similar to placing a coronary stent and is done in around 20 minutes.
Neovasc comes in the list of specialty medical device firms that develops, markets and manufactures products for the fast growing cardiovascular marketplace. Its offerings include the Reducer, for the cure of refractory angina, which as of now is available in the U.S.
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