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Micell Forges Strategic Agreement to Develop Advanced Drug-Eluting Stents and Balloons
Date:1/12/2009

Company In-licenses State-of-the-art CE-Marked Cobalt-Chromium Coronary Stent

Forms Alliance to Jointly Develop Drug Eluting Balloon Products

RALEIGH, N.C., Jan. 12 /PRNewswire/ -- Micell Technologies announced today that that the company entered into a strategic agreement with Maxcor Inc., the newly incorporated subsidiary of Opto Circuits (OCI) Ltd., by which Micell Technologies has obtained the rights to Maxcor's Genius MAGIC Cobalt Chromium Coronary Stent System for the purpose of developing and marketing Drug-Eluting Stents (DES) based on Micell's proprietary coating technology. The state-of-the-art stent and delivery system was developed and is marketed in Europe by EuroCor GmbH, a subsidiary of Opto Circuits. The companies also entered into an agreement to develop Drug Eluting Balloon (DEB) products for cardiovascular applications. The specific terms of the agreements have not been disclosed.

Micell's technology provides for a unique way for the delivery of drugs within bioabsorbable polymers. The company has developed a drug-polymer formulation that can precisely and consistently control drug elution and the duration of polymer exposure. As a result, Micell's coating has the potential to deliver a precise therapeutic solution for coronary artery disease without the long-term safety concerns of currently available drug-eluting stents. The in-licensing of the Genius MAGIC Cobalt Chromium Coronary Stent System provides the optimal bare-metal stent product for the further development of the company's drug-polymer coating. In addition, the company believes that DEB will advance the treatment of many clinical conditions while minimizing risks or side-effects of these treatments.

Arthur J. Benvenuto, chairman and chief executive officer of Micell, said, "Our scalable drug and polymer coating process serves as a platform for the development of innovative interventional cardiology systems. We
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SOURCE Micell Technologies
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