Inari Medical received Japanese reimbursement approval for ClotTriever, enhancing DVT treatment options through a new functional category.
Quiver AI Summary
Inari Medical, Inc. announced that it received national reimbursement approval in Japan for its ClotTriever Thrombectomy System, which is designed to treat deep vein thrombosis (DVT). This approval, granted by the Japanese Ministry of Health, Labor and Welfare, follows the system's earlier regulatory clearance by the Pharmaceuticals and Medical Devices Agency. The ClotTriever's unique design allows for comprehensive thrombus removal, leading to the establishment of a new reimbursement category that acknowledges its clinical efficacy. Inari has partnered with Medikit Co., Ltd. to aid in the commercialization of the ClotTriever in Japan, and plans to initiate a 100-patient post-market study to support its market expansion. Inari's CEO highlighted the significance of this approval as a major milestone in meeting unmet clinical needs for DVT patients in Japan, reinforcing the company's commitment to delivering innovative medical solutions.
Potential Positives
- Inari Medical received national reimbursement approval for its ClotTriever Thrombectomy System in Japan, marking a significant milestone that could enhance market access and revenue potential.
- The Japanese Ministry of Health recognized ClotTriever's distinct mechanism of action by creating a new functional category, which includes a reimbursement premium, underscoring the device's clinical value.
- The partnership with Medikit Co., Ltd. is likely to accelerate commercialization efforts in Japan, leveraging Medikit's established presence in the market.
- The strong clinical data supporting ClotTriever's safety and efficacy, along with ongoing studies, positions Inari Medical as a leader in innovative solutions for treating DVT.
Potential Negatives
- Receiving national reimbursement approval indicates previous barriers to market access for the ClotTriever Thrombectomy System, highlighting challenges faced in gaining acceptance in the Japanese healthcare system.
- The need for a new functional category to accommodate ClotTriever suggests that existing reimbursement frameworks may have been inadequate, reflecting potential complexities in integrating their technology with established medical practices.
- The mention of a 100-patient Post Market Surveillance study implies that further validation of their product is necessary, which could delay full commercial expansion and introduce uncertainty regarding market performance.
FAQ
What is the ClotTriever Thrombectomy System?
The ClotTriever Thrombectomy System is a medical device designed for wall-to-wall thrombus removal in patients with deep vein thrombosis (DVT).
What is the significance of MHLW’s reimbursement approval?
The reimbursement approval from MHLW for ClotTriever marks a major milestone for Inari in Japan, enhancing patient access to advanced DVT treatment.
How does ClotTriever differ from other therapies?
ClotTriever offers a unique mechanism of action for complete thrombus removal, leading to its classification under a new functional category with reimbursement premiums.
Who will distribute the ClotTriever system in Japan?
Inari Medical has partnered with Medikit Co., Ltd. for distribution of the ClotTriever system throughout Japan, leveraging Medikit's market presence.
What clinical data supports ClotTriever’s effectiveness?
ClotTriever is backed by extensive clinical data, showing significant safety, efficacy in clot removal, and low post-thrombotic syndrome rates from various studies.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$NARI Insider Trading Activity
$NARI insiders have traded $NARI stock on the open market 48 times in the past 6 months. Of those trades, 0 have been purchases and 48 have been sales.
Here’s a breakdown of recent trading of $NARI stock by insiders over the last 6 months:
- ANDREW HYKES (President and CEO) has traded it 5 times. They made 0 purchases and 5 sales, selling 15,000 shares.
- WILLIAM HOFFMAN has traded it 29 times. They made 0 purchases and 29 sales, selling 360,000 shares.
- MITCH C. HILL, (Chief Financial Officer) has traded it 9 times. They made 0 purchases and 9 sales, selling 18,000 shares.
- THOMAS TU (Chief Medical Officer) has traded it 4 times. They made 0 purchases and 4 sales, selling 20,000 shares.
- REBECCA CHAMBERS sold 260 shares.
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$NARI Hedge Fund Activity
We have seen 113 institutional investors add shares of $NARI stock to their portfolio, and 152 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- UBS ASSET MANAGEMENT AMERICAS LLC added 1,247,342 shares (+1740.6%) to their portfolio in Q2 2024
- VESTAL POINT CAPITAL, LP added 1,200,000 shares (+342.9%) to their portfolio in Q3 2024
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- ARMISTICE CAPITAL, LLC added 812,748 shares (+80.5%) to their portfolio in Q3 2024
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- POINT72 ASSET MANAGEMENT, L.P. removed 675,639 shares (-45.6%) from their portfolio in Q3 2024
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Full Release
IRVINE, Calif., Dec. 02, 2024 (GLOBE NEWSWIRE) -- Inari Medical, Inc. (NASDAQ: NARI) (“Inari”), a medical device company with a mission to treat and transform the lives of patients suffering from venous and other vascular diseases, announced today that on December 1, 2024, it received national reimbursement approval from the Japanese Ministry of Health, Labor and Welfare (MHLW) for its ClotTriever Thrombectomy System for DVT. This announcement follows the regulatory approval of the ClotTriever system by the Pharmaceuticals and Medical Devices Agency (PMDA) in December 2023.
Due to ClotTriever’s unique mechanism of action for complete, wall-to-wall thrombus removal in patients suffering from DVT, MHLW created a new functional category that is separate from other catheter-based therapies. This new functional category comes with a reimbursement premium based upon ClotTriever’s wealth of clinical data showing safety and efficacy in removing various types of thrombi.
To facilitate commercialization of the ClotTriever system in Japan, Inari has entered into a distribution agreement with Medikit Co., Ltd., a market leading vascular medical device manufacturer serving Japan, the U.S. and over 30 other countries. With this new partnership, Inari plans to accelerate initiation of its 100-patient Post Market Surveillance study, followed by broader commercial expansion.
“MHLW’s approval of reimbursement for ClotTriever under a newly designated functional category marks a transformative milestone for Inari in Japan,” said Drew Hykes, Chief Executive Officer of Inari. “This decision underscores the value of ClotTriever in addressing unmet clinical needs, and we are thrilled to collaborate with Medikit to bring this innovative solution to Japanese DVT patients, improving lives and advancing care in the near future. Over time, we look forward to bringing our broader portfolio of purpose-built tools to the Japanese market.”
The ClotTriever system is 510(k)-cleared by U.S. FDA and CE-Marked for treatment of DVT. More than 75,000 procedures have been conducted with ClotTriever globally. Recently, two-year outcomes were reported from the 500-patient ClotTriever CLOUT Registry showing a strong safety profile, significant clot removal, and low rates of post-thrombotic syndrome. 1 , 2 , 3 ClotTriever is the most studied thrombectomy device for DVT, including the ongoing Randomized Controlled Trial, DEFIANCE, comparing ClotTriever to anticoagulation alone for patients with DVT. 4
About Inari Medical, Inc.
Patients first. No small plans. Take care of each other. These are the guiding principles that form the ethos of Inari Medical. We are committed to improving lives in extraordinary ways by creating innovative solutions for both unmet and underserved health needs. In addition to our purpose-built solutions, we leverage our capabilities in education, clinical research, and program development to improve patient outcomes. We are passionate about our mission to establish our treatments as the standard of care for venous thromboembolism and four other targeted disease states. We are just getting started. Learn more at
www.inarimedical.com
and connect with us on
LinkedIn
,
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.
About Medikit Co., Ltd.
Medikit Co., Ltd., based in Tokyo, established in 1973, is a global medical device company and is publicly traded on the Tokyo Stock Exchange (Code: 7749). Medikit’s mission is to deliver the highest standards of excellence in operating as a health care company whose products and services help to enhance healthy life by minimizing unnecessary suffering and death from disease. Medikit is a market leader in Japan in interventional products, including vascular access devices such as hemodialysis catheters, intravenous catheters, sheaths, and guiding catheters. Medikit products are sold in Japan, the United States, and over 30 other countries. The company has sales, R&D, and manufacturing capabilities with more than 1,300 consolidated employees. For more information, visit the company’s website at
www.medikit.co.jp
.
Investor Contact:
Neil Bhalodkar
[email protected]
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1
Bisharat, et al. One-Year Clinical Outcomes Following Mechanical Thrombectomy for Deep Vein Thrombosis: A CLOUT Registry Analysis. JSCAI. 2024.
2
Shaikh, et al. Six-Month Outcomes of Mechanical Thrombectomy for Treating Deep Vein Thrombosis: Analysis from the 500-Patient CLOUT Registry. Cardiovasc Int Rad. 2023.
3
Dexter, D. Interim two-year outcomes from the fully enrolled CLOUT registry. Presented at AVF 2024 (Tampa, FL).
4
Abramowitz, et al. Rationale and Design of the DEFIANCE Study: A Randomized Controlled Trial of Mechanical Thrombectomy Versus Anticoagulation Alone for Iliofemoral Deep Vein Thrombosis. American Heart Journal. doi.org/10.1016/j.ahj.2024.10.016