Navigation Links
Neovasc Announces Agreement With LeMaitre Vascular for Exclusive Distribution Rights to its Biological Vascular Strips
Date:1/26/2009

    --Vascular Device Leader LeMaitre Vascular to Distribute Neovasc's
    Biological Vascular Strips in the U.S. and Europe, With Option to
    Purchase the Product Line--

VANCOUVER, Jan. 26 /PRNewswire-FirstCall/ - Neovasc Inc. (TSXV: NVC), a new specialty vascular device company, today announced that it has entered into a distribution agreement with LeMaitre Vascular, Inc. (Nasdaq: LMAT) for Neovasc's biological vascular strip for use in vascular surgery procedures. Under the terms of the seven-year agreement, LeMaitre Vascular has exclusive rights to market and sell certain sizes of Neovasc's tissue patch products used for vascular surgery in the United States and Europe.

"LeMaitre Vascular has a well-earned reputation among vascular surgeons for technical innovation and strong sales and customer support, and we are delighted that they will be distributing our vascular strip products" said Alexei Marko, chief executive officer of Neovasc. "The performance and exceptional handling characteristics of our tissue products make them appropriate for a number of vascular applications, including carotid endarterectomy, which should complement LeMaitre Vascular's gold-standard Pruitt-Inahara Carotid Shunt line. We are very pleased that this superior product will now benefit from the expertise and reach of the high quality sales and marketing professionals at LeMaitre Vascular."

The Neovasc biologic vascular strip is derived from bovine pericardial tissue, a biocompatible and versatile material that has been shown to have exceptional strength and handling characteristics, allowing surgeons the flexibility to implant with ease. This biocompatible material also has a 20-year safety record of use in cardiac indications. The strip is well-suited for use in carotid endarterectomy as well as other precision vascular applications.

Under the terms of the agreement, LeMaitre Vascular has the option to purchase the biologic vascular strip product technology from Neovasc after five years. LeMaitre Vascular's use of the technology after acquisition would be limited to the manufacture of strips for use in vascular procedures, and Neovasc would retain the rights to all other applications of its biological patch technology. Further details of the agreement were not disclosed.

About LeMaitre Vascular

LeMaitre Vascular is a provider of devices for the treatment of peripheral vascular disease. The company develops, manufactures and markets disposable and implantable vascular devices to address the needs of vascular surgeons. The company's devices are used to treat peripheral vascular disease; a condition that the company estimates affects more than 20 million people worldwide. Well-known to vascular surgeons, the company's diversified product portfolio consists of brand name devices that are used in arteries and veins outside of the heart including the Expandable LeMaitre Valvulotome, the Pruitt-Inahara Carotid Shunt and the newly-introduced TAArget Thoracic Stent Graft. For more information, visit http://www.lemaitre.com.

About Neovasc Inc

Neovasc Inc. (formerly Medical Ventures Corp.), is a new specialty vascular device company that develops, manufactures and markets medical devices for the rapidly growing vascular and surgical marketplace. Neovasc is comprised of the former Medical Ventures Corp., Neovasc Medical Ltd. and B-Balloon Ltd. The company's current products include, Metricath(R) for intravascular measurement and PeriPatch(TM) surgical tissue and staple line reinforcement products. Neovasc has a development pipeline of innovative new products, and provides contract medical device development and manufacturing services. For more information, visit: www.neova6sc.com.

Statements contained herein that are not based on historical or current fact, including without limitation statements containing the words "anticipates," "believes," "may," "continues," "estimates," "expects," and "will" and words of similar import, constitute "forward-looking statements" within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, events or developments to be materially different from any future results, events or developments expressed or implied by such forward-looking statements. Such factors include, among others, the following: general economic and business conditions, both nationally and in the regions in which Neovasc operates; history of losses and lack of and uncertainty of revenues, ability to obtain required financing, receipt of regulatory approval of product candidates, ability to properly integrate newly acquired businesses, technology changes; competition; changes in business strategy or development plans; the ability to attract and retain qualified personnel; existing governmental regulations and changes in, or the failure to comply with, governmental regulations; liability and other claims asserted against Neovasc; and other factors referenced in the Neovasc's filings with Canadian securities regulators. Although Neovasc believes that expectations conveyed by the forward-looking statements are reasonable based on the information available to it on the date such statements were made, no assurances can be given as to the future results, approvals or achievements. Given these uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements. Neovasc does not assume the obligation to update any forward-looking statements except as otherwise required by applicable law.


'/>"/>
SOURCE Neovasc Inc.
Copyright©2009 PR Newswire.
All rights reserved

Related medicine news :

1. Neovasc Reports Development Progress, Streamlined Operations and Issuance of Options
2. Neovasc Inc. Reports Third Quarter Fiscal Year 2008 Financial Results
3. HHS Announces $75 Million in Supplemental Funding to States for Pandemic Flu Preparedness
4. CRC Health Group Announces Acquisition of Bayside Marin Recovery Center, San Rafael
5. UHW Announces: Antelope Valley Hospital Caregivers and Board Vote to Ratify First Union Contract With SEIU UHW-West
6. HEI, Inc. Announces Sale of RFID Division Assets
7. Caraco Pharmaceutical Laboratories, Ltd. Announces FDA Approval to Market Generic Version of Zyloprim(R)
8. Mettler-Toledo International Inc. Announces Webcast of Presentation at Thomas Weisel Partners 2007 Healthcare Conference
9. Z Trim Announces Revocation of Gregory Halpern Severence Agreement
10. Brooke Franchise Corporation Announces Selected July Results
11. Manor Care, Inc. Announces Record Date for Special Stockholder Meeting
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:10/13/2017)... ... October 13, 2017 , ... ... Software Development, has been awarded a contract by the Center for Medicare and ... aims to accelerate the enterprise use of Agile methodologies in a consistent and ...
(Date:10/13/2017)... ... 2017 , ... “America On The Brink”: the Christian history of the United ... the creation of published author, William Nowers. Captain Nowers and his wife, Millie, ... spent thirty years in the Navy. Following his career as a naval aviator ...
(Date:10/12/2017)... ... October 12, 2017 , ... ... sleep apnea using cutting-edge Oventus O2Vent technology. As many as 18 ... characterized by frequent cessation in breathing. Oral appliances can offer significant relief to ...
(Date:10/12/2017)... ... October 12, 2017 , ... ... the demand of today’s consumer and regulatory authorities worldwide. From Children’s to Adults ... tested to meet the highest standard. , These products are also: Gluten ...
(Date:10/12/2017)... ... , ... The American College of Medical Informatics (ACMI) will present the 2017 ... Session of AMIA’s Annual Symposium in Washington, D.C. AMIA’s Annual Symposium is ... pioneer in the field of medical informatics, this prestigious award is presented to an ...
Breaking Medicine News(10 mins):
(Date:10/4/2017)... , Oct. 4, 2017 ... single-use, self-contained, illuminating medical devices, today announced regulatory ... Health Surveillance Agency (or Agência Nacional de Vigilância ... first single-use, cordless surgical retractor with integrated LED ... optimal access, illumination and exposure of a tissue ...
(Date:10/2/2017)...  Eli Lilly and Company (NYSE: LLY ... quarter of 2017 on Tuesday, October 24, 2017. Lilly ... with the investment community and media to further detail ... will begin at 9 a.m. Eastern time. Investors, media ... of the conference call through a link that will ...
(Date:10/2/2017)... , Oct. 2, 2017 Halo Labs announces the European ... system called the HORIZON at MIBio 2017 in Cambridge, ... and visible particulate matter in biopharmaceutical samples with unprecedented speed and ... the novel technique Backgrounded Membrane Imaging. ... The HORIZON subvisible particle analysis system ...
Breaking Medicine Technology: