Neovasc Reports Development Progress, Streamlined Operations and Issuance ...(or over orunderestimated the Metricath-d...),Health

Date:11/3/2008

or over or underestimated the Metricath-determined vessel size...in more than 50% of cases, and the final treatment frequently changed" (when Metricath measurements were used). Dr. Allie's full study demonstrating the impact of Metricath on assuring optimal treatment is expected to be published in a peer-reviewed journal soon.

The recent product development meetings focused on Neovasc's pipeline of innovative new products including Reducer(TM), a coronary sinus stent for the treatment of chronic refractory angina and the Ostial product line targeting difficult-to-stent lesions occurring at the origin of an artery. Participating opinion leaders provided valuable counsel on development plans, and many expressed enthusiasm about the potential of these product candidates to provide important benefits to physicians and patients. Neovasc intends to provide further details about timelines and clinical strategies as these products proceed toward commercialization.

"We've made great progress in the past few months in advancing our commercially available products and in developing our new product pipeline," said Alexei Marko, CEO and President of Neovasc. "These recent conferences were an excellent opportunity to involve key medical leaders in educating the medical community about the value of our existing products, as well as in obtaining their insights on achieving timely commercialization and optimal positioning for our exciting new products. We look forward to reporting on further progress in our current and new product efforts in the coming months."

Streamlined Operations and Appointment of Medical Director

Following the successful merger of the three former companies that comprise Neovasc (Medical Ventures Corp, Neovasc Medical Ltd, and B-Balloon Ltd.), the company recently took steps to streamline its operations and reduce costs, cutting staff in its Vancouver and Israel operations to realize an overall company headcount reduction of 25%. By
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SOURCE Neovasc Inc. Copyright©2008 PR Newswire. All rights reserved

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