NeoChord is a medical device company that has developed a proprietary device that allows mitral valve repair to be performed on a beating heart through a 2 to 3 inch incision between the ribs in patients with severe, degenerative mitral valve regurgitation. In contrast, most mitral valve repair procedures are performed through a 3 to 10 inch chest incision (sternotomy) which involves cutting through the sternum, opening the rib cage, stopping the heart and placing the patient on bypass.