Edwards Lifesciences has exercised its option to acquire Innovalve Bio Medical, an early-stage transcatheter mitral valve replacement (TMVR) company.

Edwards initially invested in Innovalve in 2017. Since then, Innovalve has had promising early clinical experience in its program.

The acquisition boosts the company’s TMVR technologies to address the large unmet structural heart patient population. Innovalve will join Edwards’ transcatheter mitral and tricuspid (TMTT) franchise, which is led by corporate VP Daveen Chopra.

Last week, Edwards announced it had received Health Canada approval for its Pascal Precision transcatheter valve repair system for percutaneous reduction of significant, symptomatic mitral regurgitation.

The deal for Innovalve is anticipated to close by the end of this year.

“Building on our learnings of the complexity of mitral disease, we know there is a need for a differentiated range of therapies for these patients,” said Chopra. “Edwards’ SAPIEN M3 remains on track to become the first approved transfemoral TMVR system in Europe by the end of 2025. We believe the Innovalve technologies, paired with Edwards’ deep mitral expertise, will enable a TMVR platform that will expand the treatable population.”

This month, Edwards also revealed it had struck several deals totaling €15 million with French clinical-stage firm Affluent Medical. The agreements relate to Affluent’s Kalios adjustable mitral annulus as well as mitral valve technology.