What happened then? This heart shines on!

Since we last reported in 2002 Sunshine Heart has listed on the ASX and developed a new C-Pulse heart assist device that will shortly commence long term clinical trial.

The Warren Centre’s Medical Device Network which was formed by The Warren Centre and is now part of AusBiotech is thriving along with a new heart assist device, developed by Sunshine Heart Company.

The device includes a balloon in a cuff surrounding the patient’s ascending aorta. An air driver causes the balloon to inflate and deflate in counter pulsation with the patient’s heart rhythm.

This action supplies additional blood to the patient’s heart muscle and reduces the work of the heart. These benefits are achieved without touching the patient’s blood, making the device simpler, safer and cheaper than existing heart assist devices.

Sunshine Heart initially raised angel funding in Australia, and subsequently secured venture capital support and a START grant from the Australian government.

After building prototype devices and conducting acute animal trials and short-term intra-operative trials in humans, the company raised a second tranche of venture capital funding from USA and Australian venture capital managers. This action meant the company had to transfer its place of incorporation to the USA. The money raised in this round was used to successfully complete a long-term animal study which showed that a sheep aorta retained its functional integrity after 10 months of counter-pulsation.

 When considering its options for further capital raising, it became clear that the best option was to undertake an initial public offering in Australia. Sunshine Heart Inc was fortunate to secure underwriting support from Wilson HTM Corporate Finance Limited. The initial public offering was successfully closed, oversubscribed, raising AUS$15 million.

 Under a long-term human clinical trial that will commence in Auckland, New Zealand in December 2004, the device will be placed in six patients for lifetime operation and should substantially improve the quality of patient’s lives. It is also expected that the device will prolong patient life as well as reduce overall health costs associated with the management of heart failure, which in the USA is estimated to cost US$26 billion annually.

The company is also undertaking work on an improved driver which will be quieter, smaller, more reliable and more energy efficient than any pump currently available. The company expects to be able to apply to start a clinical trial of the pump in the USA in the first half of 2006.

For more information go to the Sunshine Heart website at www.sunshineheart.com

The Warren Centre publishes articles relating to new technology and innovation that are often based on information supplied by participants. While an editorial process is applied, we make no exhaustive investigation into the accuracy of the information, thus no liability will be accepted for its accuracy. Please note that in providing this information, The Warren Centre is not supporting or promoting Sunshine Heart, merely seeking to inform. Interested readers should take their own steps to verify the information prior to relying on it in any way.

C-pulse heart assist device in a patient showing the external driver and the internal counter-pulsation cuff on the aorta.
 

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