IDEV Technologies

IDEV Technologies, an entity acquired by Abbott Laboratories in 2013, specialized in the development of medical devices for the interventional cardiology, radiology, and vascular surgery markets. The company was established in 2000 as the first start-up from The University of Texas MD Anderson Cancer Center, based on technology developed by researchers Andras Konya, Ph.D., and Kenneth Wright, Ph.D., from the institution's Interventional Radiology department. The initial CEO and president was Jeffery Sheldon, who was the director of technology management at MD Anderson at the time.

The company's core business revolved around creating and marketing solutions for treating blockages in blood vessels. Its flagship product was the SUPERA Veritas® stent system, a self-expanding nitinol stent designed to treat peripheral artery disease (PAD) and biliary strictures. The key feature of the SUPERA stent was its proprietary interwoven wire design, which was based on biomimetic principles to mimic the body's natural movement. This construction provided a combination of flexibility and radial strength, making it particularly suitable for vessels in areas of frequent movement like the thigh and knee. The business generated revenue through the sale of these medical devices to healthcare providers globally.

The development and subsequent success of the SUPERA stent system, backed by extensive clinical trials, validated the technology and attracted significant investor interest, including a Series B financing round led by RiverVest Venture Partners. This trajectory culminated in a strategic acquisition by Abbott in August 2013 for $310 million. The acquisition was aimed at expanding Abbott's peripheral technology portfolio, integrating IDEV's stent technology with its existing line of guidewires and balloon dilatation catheters to offer a more comprehensive set of solutions for vascular care.

Keywords: medical devices, peripheral artery disease, interventional radiology, vascular surgery, stent systems, nitinol stent, SUPERA Veritas, Abbott acquisition, biomimetic design, endovascular applications, biliary strictures, interwoven wire technology, medical device development, MD Anderson startup, vascular intervention, catheter-based technology, peripheral vascular disease, interventional cardiology, medical technology commercialization, vascular health