REVA Medical, Inc. ("REVA" or the "Company") completed its initial public offering of CDIs (CHESS Depository Interests) on December 17, 2010 and began trading on the Australian Securities Exchange ("ASX") on December 23, 2010, under the symbol "RVA." Ownership interests in REVA may be held in either CDIs or shares of common stock, but only CDIs may be traded on the ASX. Ten CDIs are equal to one share of common stock.
REVA is a development stage medical device company located in San Diego, California, USA, that is focused on the development, testing, and eventual commercialization of its proprietary bioresorbable stents, which are called “scaffolds” because of their temporary nature. The Company’s scaffolds are currently in clinical studies and have been developed as an alternative to metal stents, which are small tube-like devices permanently implanted into an artery to treat coronary artery disease. Scaffolds provide restoration of blood flow, support the artery through the healing process, then disappear (or “resorb”) from the body over a period of time. This resorption allows the return of natural movement and function of the artery, a result not attainable with permanent metal stents. The Company’s initial intended commercial product, the FantomTM scaffold, has been designed to offer distinct ease-of-use features including complete scaffold visibility under x-ray, expansion with one continuous inflation, and no procedural time limitations. REVA will require successful clinical trial results and regulatory approval before it can commercialize Fantom or any other products.
REVA is headquartered in San Diego, California.