SynCardia and Hydrix Enter into Development Collaboration to Advance the Emperor, SynCardia's Next Generation Total Artificial Heart

Core Viewpoint - Picard Medical, Inc. has entered into a development collaboration agreement with Hydrix Services Pty Ltd to advance the next-generation fully implantable Total Artificial Heart technology, known as the Emperor, which aims to enhance patient mobility and convenience by eliminating the need for an external driver [1][2]. Company Overview - Picard Medical, Inc. is the parent company of SynCardia Systems, LLC, which is recognized for developing the only commercially available total artificial heart technology for patients with end-stage heart failure. The SynCardia Total Artificial Heart (STAH) is the first artificial heart approved by both the U.S. FDA and Health Canada, with over 2,100 implants performed across 27 countries, making it the most widely used artificial heart globally [5]. Collaboration Details - The selection of Hydrix as a development partner is based on its expertise in complex critical engineering and a strong track record in developing regulated medical devices, including mechanical circulatory support systems. This collaboration aligns with Picard Medical's strategy to partner with leading engineering organizations for long-term development of life-sustaining technologies [2][3]. - Under the agreement, Hydrix will conduct development work for Picard and SynCardia through the end of 2026 as part of a multi-stage development program for the Emperor, which will progress through defined engineering verification and regulatory milestones [3]. Financial Incentives - The collaboration may allow Picard to benefit from Australian R&D tax incentives of approximately 43% of eligible expenditure, subject to qualification and review, which could enhance the financial viability of the development program [3]. Hydrix Overview - Hydrix Limited is a product innovation company focused on enhancing health, safety, and well-being through its services in design, engineering, and delivery of innovative medical products. The company operates across three segments: Services, Ventures, and Medical [4].