Vetex Medical has developed the Vetex thrombectomy catheter as a platform technology for the venous vascular system. It targets deep vein thrombosis, AV Fistula and pulmonary embolism, representing a $1.7 billion market opportunity with a CAGR of 5.95 percent.
The Vetex Clot Removal System challenges the efficacies and economics present in the DVT market, through separation and extraction of large volumes of thrombus from 5-15mm vessels with the patent protected adaptive basket technology. The Vetex Clot Removal System has been designed to give clinicians a more aggressive and effective thrombus removal device for a wider range of patients with or without the use of lytic agents. This will reduce the requirements for ICU care and associated costs. It represents a first choice treatment option for interventional radiologists and vascular surgeons.
Vetex Medical has patent filings with preliminary international examination reports and a third party freedom to operate assessment. Vetex Medical plans to pursue a U.S. 510(k) regulatory pathway and report acute outcomes in a 50 patient clinical study.
Initially Vetex Medical targeted patients with acute DVT in the ilio-femoral veins representing an accessible market opportunity of $422 million based on an ASP of $2000 and a minimum gross margin of 73 percent. US reimbursement codes in place include DRG payments of $16-30 thousand. The venous thrombectomy market has been underserved for many years, but is becoming one of the key drivers of the clot management market as clinical evidence and awareness increases.