Announcing the launch of Medtronic Neurovascular Co-Lab™ Platform to accelerate innovation in stroke treatment

Rhea-AI Summary

Medtronic has launched the Neurovascular Co-Lab™ Platform to enhance collaboration among start-ups, physicians, and institutions for stroke care innovation. This initiative aims to expedite the development of advanced technologies to benefit stroke patients globally. The platform will be operational by World Stroke Day, October 29, 2022, and is designed to facilitate the submission and funding of high-potential neurovascular innovations. Medtronic highlights the urgent need for improved stroke treatments, noting that millions remain untreated despite the availability of therapies.

Positive

• Launch of Neurovascular Co-Lab™ Platform to foster innovation in stroke treatment.
• Collaboration opportunity for start-ups, physicians, and institutions to improve stroke care.
• Plans to expedite the development of high-potential technologies that could significantly benefit stroke patients.

Negative

• Limited treatment access for stroke patients; only 10-14% receive clot-dissolving treatment.
• Low mechanical thrombectomy rates in the U.S.; under 40,000 procedures while 200,000 to 350,000 could benefit.

New Medtronic Neurovascular Co-Lab^™ Platform drives collaboration and connections among start-ups, physicians, and institutions; aims to improve stroke treatment and access for patients worldwide

DUBLIN, Oct. 26, 2022 /PRNewswire/ -- Medtronic plc (NYSE: MDT), a global leader in healthcare technology, today announced the launch of Medtronic Neurovascular Co-Lab^™ Platform designed to accelerate urgently needed innovation in stroke care and treatment.

The company is harnessing its market-leading position and trusted partner reputation to create a platform that will ultimately advance technology concepts that have the highest potential to positively impact millions of stroke patients. Innovators, entrepreneurs, and physicians will be able to collaborate, enhance, and share their breakthrough concepts and products. With the launch of Medtronic Neurovascular Co-Lab^™ Platform, Medtronic is deepening its commitment to advance stroke innovation as the world prepares to recognize World Stroke Day on October 29, 2022.

"We need to act now to prioritize the best concepts and strongest products to ensure they reach more patients sooner," said Dan Volz, president of the Medtronic Neurovascular business, which is part of the Neuroscience Portfolio. "Clinicians and innovators are passionate about improving stroke care, and the neurovascular technology market is brimming with ideas, improvements, and would-be therapies in need of development. Our platform will provide both an infrastructure and a process to realize viable opportunities on a previously unmatched scale."   

Medtronic Neurovascular Co-Lab^™ Platform will help bring neurovascular innovations to life. The process will be both transparent and collaborative, ensuring opportunities advance effectively and responsibly. The platform will be launched on October 29, World Stroke Day.

"What's fascinating about the neurovascular field is that we still have so much to discover about the brain. Medtronic has always invested in innovative stroke treatment technologies leading the standard of care and advancing the practice of neurosurgery," said Brett Wall, executive vice president and president of the Medtronic Neuroscience Portfolio. "The neurovascular market has enormous growth potential, and we invite innovative start-ups, physicians, venture-capital firms and inventors to collaborate with us as we set out to change stroke care as we know it today. With more than 90,000 employees across 150 countries – combined with our proven record in stroke innovation – Medtronic is positioned well to help address this urgent challenge."

Medtronic Neurovascular Co-Lab^™ Platform is an always-on virtual portal for innovator submissions, which are then assessed and prioritized to determine a potential path forward. Chosen opportunities will be advanced based on their individual needs, including exposing innovators to Medtronic's network of experts, thought leaders and partners for collaboration, clinical study funding, and strategic and directional guidance.

Medtronic welcomes innovations at every stage of development to move them to the next level; however, high-priority opportunities are high-potential, late-stage clinical and commercial-stage products and technology, followed by physician-led improvements to existing products. To learn more, or input a submission, please visit Medtronic Neurovascular Co-Lab^™ Platform at www.medtronic.com/neurovascular-co-lab.

About the stroke challenge
Advancing stroke care is critical and urgent. Globally, 15 million people suffer from stroke annually. Of those, 5 million people die and another 5 million are left permanently disabled.¹ Yet, the second leading cause of death and the third leading cause of disability globally often goes untreated. ² Most people experience ischemic strokes in which blood flow to the brain is blocked by a clot. Studies indicate that only about 10 to 14 percent receive clot-dissolving treatment that can stop the onset of stroke symptoms.³ 

Furthermore, the use of mechanical thrombectomy, a surgical treatment for stroke and the standard of care for large vessel occlusion strokes remains extremely low. In the U.S., the 2019 estimate of thrombectomies was below 40,000, while the number of patients who could benefit from thrombectomy was between 200,000 and 350,000.⁴

About the Neurovascular business at Medtronic
With the largest neurovascular technology business in the world, Medtronic Neurovascular led evidence-based medicine in neurointervention with five landmark studies published in The New England Journal of Medicine in 2015. Its clinical and regulatory leadership and bold approach shaped the current guidelines for treating strokes.⁵ 

About Medtronic
Bold thinking. Bolder actions. We are Medtronic. Medtronic plc, headquartered in Dublin, Ireland, is the leading global healthcare technology company that boldly attacks the most challenging health problems facing humanity by searching out and finding solutions. Our Mission — to alleviate pain, restore health, and extend life — unites a global team of 90,000+ passionate people across 150 countries. Our technologies and therapies treat 70 health conditions and include cardiac devices, surgical robotics, insulin pumps, surgical tools, patient monitoring systems, and more. Powered by our diverse knowledge, insatiable curiosity, and desire to help all those who need it, we deliver innovative technologies that transform the lives of two people every second, every hour, every day. Expect more from us as we empower insight-driven care, experiences that put people first, and better outcomes for all. In everything we do, we are engineering the extraordinary. For more information on Medtronic (NYSE:MDT), visit www.Medtronic.com and follow @Medtronic on Twitter and LinkedIn.

Any forward-looking statements are subject to risks and uncertainties such as those described in Medtronic's periodic reports on file with the Securities and Exchange Commission. Actual results may differ materially from anticipated results.

References:

1. Stroke, Cerebrovascular accident. World Health Organization, http://www.emro.who.int/health-topics/stroke-cerebrovascular-accident/index.html. Accessed September 6, 2022.
2. What we do. World Stroke Organization. https://www.world-stroke.org/what-we-do. Accessed October 6, 2022.
3. Skolarus, et al. Marked Regional Variation in Acute Stroke Treatment Among Medicare Beneficiaries. Stroke. (2015) 46: 1890-1896.
4. The Global Push for Mechanical Thrombectomy in Stroke Care. NeurologyLive, December 2020, Volume 3, Issue 7. https://www.neurologylive.com/view/the-global-push-for-mechanical-thrombectomy-in-stroke-care 
5. The 2015 AHA/ASA Focused Update of the 2013 Guidelines for the Early Management of Patients with Acute Ischemic Stroke Regarding Endovascular Treatment.

Contacts:
Kelli Lynch	Ryan Weispfenning
Public Relations	Investor Relations
+1-203-500-3328	+1-763-505-4626

 

 

 

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SOURCE Medtronic plc

FAQ

What is the Medtronic Neurovascular Co-Lab™ Platform?

The Medtronic Neurovascular Co-Lab™ Platform is designed to enhance innovation and collaboration in stroke care among start-ups, physicians, and institutions.

When was the Medtronic Neurovascular Co-Lab™ Platform launched?

The platform was launched on October 29, 2022, coinciding with World Stroke Day.

What are the goals of Medtronic's Neurovascular Co-Lab™ Platform?

The goals include accelerating the development of neurovascular technologies and improving access to stroke treatments for patients globally.

What challenges in stroke care does Medtronic address with the new platform?

Medtronic addresses the urgent need for improved stroke treatments, as only 10-14% of stroke patients receive necessary interventions.

How does Medtronic plan to support innovators through the Co-Lab™ Platform?

The platform will provide infrastructure for submissions, funding for clinical studies, and access to Medtronic's network of experts.