Volcano Announces Acquisition of Nov...( Currently the lack of safe andpredictab...)

Date:5/19/2008

"Currently, the lack of safe and predictable treatment modalities results in most CTO patients being referred to open-heart bypass surgery. I have performed pre-clinical work with the Novelis device which, in my view, demonstrated clear differentiation of coronary anatomy and sufficient ablative power necessary to guide the Interventional Cardiologist safely through a CTO."

"We believe there is an excellent strategic fit between the Novelis product candidates and Volcano's vision of the cath lab of the future," said Paul Magnin, Ph.D., CEO of Novelis. "I know I speak for all of the Novelis employees when I say we are thrilled to be a part of this vision and to have a role in the development of ultrasonic guidance technology that makes a difference in patient's lives."

Novelis' offering consists of a forward-looking manually steered imaging system comprised of a laptop-sized console with advanced custom software and single-use catheters both with and without RF ablation. The system and accessories are not approved for human use at this time and have not been submitted to FDA for regulatory clearance.

The company expects to file for appropriate U.S. and international approvals on the first of several devices during 2009 and begin commercialization of a stand-alone imaging console in the second half of 2009 in the U.S. and Europe. Volcano expects a majority of the purchase price to be written off immediately as in process research and development and to incur ongoing development costs in the range of $300,000 to $400,000 per quarter.

The company will hold a conference call today, May 19, at 2 p.m., Pacific Daylight Time (5 p.m., Eastern Daylight Time) to discuss this transaction. The teleconference can be accessed by calling (719) 325-4920, passcode 4489101, or via the company's website at http://www.volcanocorp.com. Please dial in or access the website 10-15 minutes prior to the beginni
'/>"/>

SOURCE Volcano Corporation Copyright©2008 PR Newswire. All rights reserved

0 GOOD

Page: 1 2 3 4 5 6 7
Related biology technology :

1. Volcano Corporation Presentation at Bear Stearns Conference to be Webcast
2. Volcano Corporation Announces Pricing of Common Stock Offering
3. Volcano Announces Activities at TCT 2007: Expanded Role of IVUS in PCI to be Demonstrated
4. Volcano Announces Closing of CardioSpectra Acquisition
5. Volcano Corporation Schedules Fourth Quarter Conference Call, Webcast
6. Volcano Announces FDA 510(k) Clearance of Revolution Rotational Catheter and FFR for the s5i Integrated IVUS Console
7. Volcano Corporation Presentation at Cowen Healthcare Conference to be Webcast
8. Volcano Announces U.S. and European Launch of Rotational IVUS and Integrated FFR
9. Volcano Reports 24 Percent Increase in First Quarter Revenues; IVUS Disposable Revenues Increase 30 Percent
10. Volcano Corp Announces First Human Use of the Volcano Optical Coherence Tomography (OCT) Imaging Catheter
11. Volcano Announces Placement of 1,000th s5 and s5i IVUS Imaging System