PALO ALTO and SANTA ROSA, Calif., Feb. 4 /PRNewswire-FirstCall/ -- CV Therapeutics, Inc. (Nasdaq: CVTX) and Medlogics Device Corporation announced today that the companies have entered into an agreement under which Medlogics has licensed CV Therapeutics' proprietary biopolymer stent coating technology to develop a drug eluting stent (DES). CV Therapeutics received Medlogics stock and is entitled to development milestone payments, royalties and other potential payments on future sales of any products incorporating the technology.
Medlogics recently received a CE Mark from European regulatory authorities for its Cobalt Super Alloy (COBRA) stent and expects to launch the stent in Europe in the first quarter of 2008. Medlogics expects to utilize CV Therapeutics' biopolymer stent coating technology to develop a next- generation DES based on the COBRA stent platform.
Stents are small metal mesh devices which can be inserted into clogged blood vessels to reopen them. Commercially available stents with drugs such as paclitaxel or rapamycin in the coating have been shown to reduce the frequency of restenosis, which is the reclosure of the vessel after the stent has been implanted. Based on preclinical data, CV Therapeutics' proprietary biopolymer stent coating technology could potentially improve the performance of these drug eluting stents by controlling the drug release rate more precisely. The proprietary manufacturing process used to create the biopolymer may limit or reduce cracking and peeling following implantation of the stent.
"The novel architecture and thin strut design of our COBRA stent
platform, combined with CV Therapeutics' unique bioerodible technology,
provide Medlogics with an outstanding opportunity to deve
|SOURCE CV Therapeutics, Inc.|
Copyright©2008 PR Newswire.
All rights reserved