Edwards has secured a global, non-exclusive licence to Affluent’s intellectual property. Credit: murat photographer / Shutterstock.

French medical technology company Affluent Medical has signed agreements with Edwards Lifesciences for its mitral valve technologies, securing an upfront payment of €15m ($16.35m).

The agreements are structured around three key components. Firstly, Affluent will receive €5m for an exclusive option for Edwards to acquire Kephalios, Affluent’s subsidiary behind the adjustable mitral annulus Kalios, contingent on clinical outcomes.

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During the option period, Affluent will retain exclusive management of Kalios development activities.

Secondly, Edwards will secure a global, non-exclusive licence to Affluent’s intellectual property for a biomimetic cardiac mitral valve replacement technology, limited to open-heart surgery applications.

Affluent is set to receive future royalties on any commercialised products that utilise these patents.

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The company maintains full patent rights for transcatheter valves, including the Epygon mitral valve currently undergoing clinical trials.

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The third component involves an upfront payment of €5m from Edwards for an equity stake in Affluent.

This transaction will be executed through a capital increase, with Edwards gaining a 9.21% shareholding in Affluent.

In addition, FPCI Truffle Medeor and Ginko Invest will contribute to the capital increase by converting their shareholder loans into equity.

Affluent’s flagship product Kalios is a mitral valve annuloplasty device. It is designed to allow percutaneous and minimally invasive adjustments by a cardiologist or surgeon post-implantation.

This device aims to treat mitral insufficiency without the need for additional open-heart surgeries.

Affluent Medical CEO Sébastien Ladet said: “Edwards’ strong global market presence and commercial infrastructure hold the potential for our product Kalios to help doctors and their patients worldwide while creating a strong partnership for Kalios and surgical mitral valves using our technology.

“Affluent will continue to develop its transcatheter mitral valve Epygon and its urinary incontinence artificial sphincter Artus.”