Annual Awards Program Recognizes Outstanding Health & Medical Technology Products and Companies

SALT LAKE CITY–(BUSINESS WIRE)–Foldax® announced today that MedTech Breakthrough, an independent market intelligence organization that recognizes the top companies, technologies and products in the global health and medical technology market, has selected its Tria™ LifePolymer™ heart valve technology as the winner of its “Medical Device Engineering Breakthrough Award” in the fourth annual MedTech Breakthrough Awards program.

The Tria heart valve from Foldax is a next generation polymer heart valve designed for superior durability with no need for daily blood thinners. Foldax partnered with CSIRO, Australia’s national science research agency, to develop the patented LifePolymer™ specifically for heart valve application.

“While heart valve replacement has been performed for over 60 years, Foldax’s Tria heart valve made with LifePolymer is the first true ‘breakthrough’ heart valve developed in decades. Its goal is to allow patients to need only one procedure in their lifetime and allow them to enjoy a quality of life free of daily blood thinners,” said James Johnson, managing director, MedTech Breakthrough. “Our ‘Medical Device Engineering Breakthrough Award’ is a marquee designation for our annual program and we congratulate Foldax on this monumental achievement with a well-deserved 2020 MedTech Breakthrough Award.”

The mission of the MedTech Breakthrough Awards is to honor excellence and recognize the innovation, hard work and success in a range of health and medical technology categories, including Robotics, Clinical Administration, Telehealth, Patient Engagement, Electronic Health Records (EHR), mHealth, Medical Devices, Medical Data and many more. This year’s program attracted more than 3,750 nominations from over 15 different countries throughout the world.

“We are honored to be selected with the Medical Device Engineering Breakthrough Award. Our goal with the Tria LifePolymer heart valve platform has always been to transform the way heart valves are designed and manufactured,” said Ken Charhut, Executive Chairman, Foldax. “Up until now there simply has been no material to allow computer design for optimal hemodynamics and durability and automated robotic process for highly efficient manufacturing.

With global heart valve procedures estimated to grow to 800,000 by 2050, the Tria LifePolymer heart valve technology represents a significant contribution to the triple aim in healthcare for providing a better patient experience, reducing unnecessary costs and addressing population health needs.

About FOLDAX®

Headquartered in Salt Lake City, Utah, Foldax is developing replacement heart valves with the goal of improving hemodynamic performance, durability, and providing a quality of life similar to natural human valves. Tria™ heart valves are revolutionizing the industry as the first and only biopolymer heart valve platform, utilizing LifePolymer™ material eliminating the use of animal tissue. These transcatheter and surgical heart valves are designed to be long-lasting and provide sustainable quality-of-life improvement for people with aortic or mitral valve disease. For additional information, visit www.foldax.com.

About MedTech Breakthrough

Part of Tech Breakthrough, a leading market intelligence and recognition platform for global technology innovation and leadership, the MedTech Breakthrough Awards program is an independent program devoted to honoring excellence in medical and health related technology companies, products, services and people. The MedTech Breakthrough Awards provide a platform for public recognition around the achievements of breakthrough health and medical companies and products in categories that include Patient Engagement, mHealth, Health & Fitness, Clinical Administration, Healthcare IoT, Medical Data, Healthcare Cybersecurity and more. For more information visit MedTechBreakthrough.com.

Contacts

Mike Numamoto mike.numamoto@foldax.com