The EBR Systems Inc (ASX: EBR) share price is ending the week with a bang.
In morning trade, the ASX All Ords stock is up 9% to $1.21.
Image source: Getty Images
Why is this ASX All Ords stock jumping?
The catalyst for today's strong gain has been the release of a positive announcement this morning.
According to the release, the medical device company's WiSE System has been successfully implanted in the first commercial patients in the United States. This follows the recent FDA approval of the system.
The ASX All Ords stock highlights that its WiSE technology is the world's only wireless, endocardial (inside the heart) pacing system in clinical use for stimulating the heart's left ventricle.
It notes that this has been a long term goal of cardiac pacing companies. This is because internal stimulation of the left ventricle is thought to be a potentially superior, more anatomically correct pacing location.
EBR Systems' WiSE technology enables cardiac pacing of the left ventricle with a novel cardiac implant that is only the size of a large grain of rice. This means that the need for a pacing wire on the outside of the heart's left ventricle is potentially eliminated.
The latest
The company advised that the first procedures took place at St. David's Medical Centre and the Cleveland Clinic. These are two of several leading US institutions that are participating in the pilot release of the WiSE CRT System.
Importantly, these cases are representative of two of the main indications for WiSE. These are previously untreatable and high-risk upgrade indications. Management notes that this further supports its US$3.6 billion total available market estimate, as these are key elements of that projected market.
The ASX All Ords stock's president and chief executive officer, John McCutcheon, said:
Seeing the WiSE System in clinical use, helping heart failure patients with leadless LVEP, is truly gratifying. I'm incredibly proud of our team and honoured to be working with these incredible physicians to improve patients' lives.
This sentiment was echoed by Dr. Robert Canby from the St. David's Medical Centre. He adds:
Treating our first commercial patient was a powerful moment. We can now offer a leadless left ventricular endocardial pacing (LVEP) option for patients who were either unable to receive left ventricular pacing or whose prior therapies failed. Delivering pacing without navigating the coronary sinus is a major advancement. We're excited to continue building experience with the WiSE technology.
