enVVeno Medical Corporation (NASDAQ:NVNO) has announced the submission of its Premarket Approval (PMA) application to the U.S. Food and Drug Administration (FDA) for the VenoValve, a device intended to treat severe deep venous Chronic Venous Insufficiency (CVI). The company anticipates a potential decision in the second half of 2025. The submission includes clinical data from the SAVVE pivotal trial. The data supporting the VenoValve PMA application was presented at the 51st Annual VEITH Symposium in New York City.
VenoValve: A Breakthrough Device for CVI
The VenoValve has been designated as a breakthrough device, granting it priority review status. CVI often results from blood clots in the leg veins, leading to symptoms such as leg swelling, pain, edema, and venous ulcers. enVVeno Medical estimates that approximately 2.5 million people in the U.S. could be potential candidates for the VenoValve each year.
enVVe: Next-Generation Venous Valve
In addition to the VenoValve, enVVeno is developing a next-generation, non-surgical transcatheter-based replacement venous valve, enVVe, which is expected to enter a pivotal trial by mid-2025. This development could potentially cater to an even larger patient and physician market.
SAVVE Trial Data and Ulcer Healing
The VenoValve is currently under evaluation in the SAVVE U.S. pivotal study, with the company performing final testing necessary for the enVVe pivotal trial approval. In a recent trial involving twenty-one patients, 91% experienced complete healing or improvement in their ulcers within a year.
Financial Position and Future Outlook
enVVeno Medical's CEO, Robert Berman, expressed optimism about the final phase of the PMA review process and anticipates further interactions with the FDA. The company's financial position remains strong, with $39.1 million in cash and investments reported at the end of a recent quarter, expected to fund operations through the end of 2025.
