Orchestra BioMed will present findings on hypertension treatments at the 2024 ICI meeting in Tel Aviv.
Quiver AI Summary
Orchestra BioMed Holdings, Inc. announced its participation in the 2024 Innovation in Cardiology Intervention meeting in Tel Aviv, where they will present findings from the BACKBEAT global pivotal study and discuss the novel AVIM therapy aimed at treating uncontrolled hypertension in patients with dual-chamber pacemakers. The presentations will highlight the unmet needs of this patient group and the unique mechanism of AVIM therapy, which has shown promising results in previous pilot studies. Orchestra BioMed focuses on developing high-impact biomedical technologies through partnerships with leading medical device companies, including Medtronic and Terumo, to bring their innovative therapies to market.
Potential Positives
- Orchestra BioMed is showcasing important advancements in cardiovascular treatment by presenting at the prestigious 2024 Innovation in Cardiology Intervention meeting in Tel Aviv, which highlights the company's commitment to innovation in medical technology.
- The presentations focus on the ongoing BACKBEAT global pivotal study, aimed at addressing the unmet medical needs of patients with uncontrolled hypertension who require dual-chamber pacemakers, indicating a significant potential market for their AVIM therapy.
- AVIM therapy has demonstrated promising results in pilot studies, with notable reductions in blood pressure, which could lead to enhanced patient outcomes and commercial viability.
- The company's strategic collaborations with leading medical device companies like Medtronic and Terumo facilitate the development and commercialization of novel therapies, positioning Orchestra BioMed for future growth in the competitive biomedical landscape.
Potential Negatives
- Dependence on ongoing studies like BACKBEAT introduces significant uncertainty regarding the future success and regulatory approval of AVIM therapy, which could affect investor confidence.
- The press release highlights a reliance on partnerships with major companies like Medtronic and Terumo, raising concerns about the company's independence and long-term viability without these collaborations.
- Presentation of investigational therapy results from pilot studies may not guarantee similar outcomes in larger, more diverse populations, casting doubt on the efficacy of AVIM therapy.
FAQ
What is the focus of the presentations at the ICI meeting?
The presentations focus on the BACKBEAT study and AVIM therapy for treating uncontrolled hypertension.
Who are the presenters at the ICI meeting?
The presenters are Avi Fischer, M.D., and Andrea Russo, M.D., who will provide insights on BACKBEAT and AVIM therapy.
What is AVIM therapy used for?
AVIM therapy is designed to lower blood pressure in patients indicated for a dual-chamber pacemaker.
What does the BACKBEAT global pivotal study entail?
The BACKBEAT study evaluates the safety and efficacy of AVIM therapy in patients with hypertension and pacemakers.
How does AVIM therapy work?
AVIM therapy modulates the autonomic nervous system to significantly reduce blood pressure, as shown in pilot 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.
$OBIO Insider Trading Activity
$OBIO insiders have traded $OBIO stock on the open market 15 times in the past 6 months. Of those trades, 7 have been purchases and 8 have been sales.
Here's a breakdown of recent trading of $OBIO stock by insiders over the last 6 months:
- DAVID P HOCHMAN (See Remarks) has traded it 7 times. They made 7 purchases, buying 13,500 shares and 0 sales.
- ERIC S FAIN has traded it 3 times. They made 0 purchases and 3 sales, selling 5,600 shares.
- DARREN SHERMAN (See Remarks) has traded it 5 times. They made 0 purchases and 5 sales, selling 34,325 shares.
To track insider transactions, check out Quiver Quantitative's insider trading dashboard.
$OBIO Hedge Fund Activity
We have seen 26 institutional investors add shares of $OBIO stock to their portfolio, and 19 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- RTW INVESTMENTS, LP added 2,585,519 shares (+46.0%) to their portfolio in Q3 2024
- PERCEPTIVE ADVISORS LLC added 2,046,675 shares (+80.4%) to their portfolio in Q3 2024
- SVB FINANCIAL GROUP removed 127,068 shares (-100.0%) from their portfolio in Q3 2024
- NORTHERN TRUST CORP added 87,749 shares (+61.2%) to their portfolio in Q3 2024
- BLACKROCK, INC. added 77,418 shares (+4.2%) to their portfolio in Q3 2024
- ARKADIOS WEALTH ADVISORS removed 51,595 shares (-100.0%) from their portfolio in Q2 2024
- STATE STREET CORP added 47,308 shares (+12.4%) to their portfolio in Q3 2024
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
Full Release
NEW HOPE, Pa., Dec. 09, 2024 (GLOBE NEWSWIRE) -- Orchestra BioMed Holdings, Inc. (Nasdaq: OBIO, "Orchestra BioMed" or the "Company"), a biomedical innovation company accelerating high-impact technologies to patients through risk-reward sharing partnerships, today announced two presentations at the 2024 Innovation in Cardiology Intervention ("ICI") meeting in Tel Aviv, Israel. The presentations will provide insights on the ongoing BACKBEAT global pivotal study, as well as an overview of the novel mechanism of action of AVIM therapy and supporting clinical evidence for the treatment of uncontrolled hypertension in patients indicated for a dual-chamber pacemaker. The presentations will be part of a broad scientific program of important developments in cardiology, in a session focused on "
Device-Based Hypertension Treatment.
"
Insights into the BACKBEAT IDE Study
,
presented by Avi Fischer, M.D., Senior Vice President of Medical Affairs and Innovation, Orchestra Biomed
(December 9, 2024; 14:12 JST / 07:12 AM EST)
Dr. Fischer's presentation will focus on the unmet medical need in patients who are indicated for a pacemaker and also have uncontrolled hypertension despite the use of antihypertensive medication. This group of patients is the target population for the BACKBEAT global pivotal study, which reflects the increased risks associated with elevated systolic blood pressure in older comorbid patients.
AVIM Mechanism of Action & Supporting Clinical Evidence
,
presented by Andrea Russo, M.D., FACC, FHRS, FAHA, Professor of Medicine, Cooper Medical School of Rowan University, Academic Chief, Division of Cardiology, Director, Electrophysiology and Arrhythmia Services, Cooper University Hospital, and Co-Principal Investigator of the BACKBEAT study
(December 9, 2024; 15:00 JST / 08:00 AM EST)
Dr. Russo's session will delve into the unique mechanism of action of the AVIM therapy and robust body of supporting clinical data. Dr. Russo will detail how AVIM therapy is designed to modulate the autonomic nervous system to immediately, substantially and persistently reduce blood pressure, as demonstrated in the MODERATO I and II pilot studies.
About Orchestra BioMed
Orchestra BioMed (Nasdaq: OBIO) is a biomedical innovation company accelerating high-impact technologies to patients through risk-reward sharing partnerships with leading medical device companies. Orchestra BioMed's partnership-enabled business model focuses on forging strategic collaborations with leading medical device companies to drive successful global commercialization of products it develops. Orchestra BioMed's lead product candidate is atrioventricular interval modulation (AVIM) therapy (also known as BackBeat Cardiac Neuromodulation Therapy (CNT)) for the treatment of hypertension, a significant risk factor for death worldwide. Orchestra BioMed is also developing the Virtue
Sirolimus AngioInfusion Balloon (SAB) for the treatment of atherosclerotic artery disease, the leading cause of mortality worldwide. Orchestra BioMed has a strategic collaboration with Medtronic, one of the largest medical device companies in the world, for development and commercialization of AVIM therapy for the treatment of hypertension in pacemaker-indicated patients, and a strategic partnership with Terumo, a global leader in medical technology, for development and commercialization of Virtue SAB for the treatment of artery disease. For further information about Orchestra BioMed, please visit
, and follow us on
LinkedIn
.
References to Websites and Social Media Platforms
References to information included on, or accessible through, websites and social media platforms do not constitute incorporation by reference of the information contained at or available through such websites or social media platforms, and you should not consider such information to be part of this press release.
About AVIM Therapy
AVIM therapy, also known as BackBeat CNT, is an investigational therapy compatible with standard dual-chamber pacemakers designed to substantially and persistently lower blood pressure. It has been evaluated in pilot studies in patients with hypertension who are also indicated for a pacemaker. MODERATO II, a double-blind, randomized, pilot study, showed that patients treated with AVIM therapy experienced net reductions of 8.1 mmHg in 24-hour ambulatory systolic blood pressure (aSBP) and 12.3 mmHg in office systolic blood pressure (oSBP) at six months when compared to control patients. The BACKBEAT (BradycArdia paCemaKer with atrioventricular interval modulation for Blood prEssure treAtmenT) global pivotal study will further evaluate the safety and efficacy of AVIM therapy in lowering blood pressure in a similar target population of patients who have been indicated for, and recently implanted with, a dual-chamber cardiac pacemaker.
Forward-Looking Statements
Certain statements included in this press release that are not historical facts are forward-looking statements for purposes of the safe harbor provisions under the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements generally are accompanied by words such as "believe," "may," "will," "estimate," "continue," "anticipate," "intend," "expect," "should," "would," "plan," "predict," "potential," "seem," "seek," "future," "outlook" and similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements include, but are not limited to, statements relating to the implementation of the Company's ongoing BACKBEAT global pivotal study, the potential safety and efficacy of the Company's product candidates
,
and the ability of the Company's partnerships to accelerate clinical development. These statements are based on various assumptions, whether or not identified in this press release, and on the current expectations of the Company's management and are not predictions of actual performance. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as and must not be relied on as a guarantee, an assurance, a prediction, or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and may differ from assumptions. Many actual events and circumstances are beyond the control of the Company. These forward-looking statements are subject to a number of risks and uncertainties, including changes in domestic and foreign business, market, financial, political, and legal conditions; risks related to regulatory approval of the Company's commercial product candidates and ongoing regulation of the Company's product candidates, if approved; the timing of, and the Company's ability to achieve expected regulatory and business milestones; the impact of competitive products and product candidates; and the risk factors discussed under the heading "Item 1A. Risk Factors" in the Company's annual report on Form 10-K for the year ended December 31, 2023, which was filed with the Securities and Exchange Commission ("SEC") on March 27, 2024 , and under the heading "Item1A. Risk Factors" in Part II of the Company's quarterly report on Form 10-Q for the quarter ended September 30, 2024, filed with the SEC on November 12, 2024.
The Company operates in a very competitive and rapidly changing environment. New risks emerge from time to time. Given these risks and uncertainties, the Company cautions against placing undue reliance on these forward-looking statements, which only speak as of the date of this press release. The Company does not plan and undertakes no obligation to update any of the forward-looking statements made herein, except as required by law.
Contact
:
Kelsey Kirk-Ellis
Orchestra BioMed
484-682-4892
Kkirkellis@orchestrabiomed.com