Navigation Links
Cardica Achieves Second Milestone Under Century Distribution Agreement
Date:11/22/2011

REDWOOD CITY, Calif., Nov. 22, 2011 /PRNewswire/ -- Cardica, Inc. (Nasdaq: CRDC) today announced the completion of its second MicroCutter™ milestone under its distribution agreement and loan commitment with Century Medical. This allows Cardica to draw the remaining $2 million of the $4 million loan commitment from Century. Under the terms of the agreement, which was announced in September 2011, the balance of all amounts drawn by Cardica will be due in September 2016, subject to certain conditions.

"Century continues to be an excellent, reliable partner for distribution of our PAS-Port® System in Japan, and we believe, particularly because of their expertise and past experience distributing Autosuture staplers for many years, they will be an ideal partner for our MicroCutter products in Japan," said Bernard A. Hausen, M.D., Ph.D., president and chief executive officer of Cardica. "The achievement of this milestone provides us with access to additional capital as we prepare for product introductions, and demonstrates our continued commitment to bring our proprietary stapling and miniaturization technology to the surgical stapling market."

About Cardica

Cardica designs and manufactures proprietary stapling and anastomotic devices for cardiac and laparoscopic surgical procedures. Cardica's technology portfolio is intended to minimize operating time and enable minimally-invasive and robot-assisted surgeries. Cardica manufactures and markets its automated anastomosis systems, the C-Port® Distal Anastomosis Systems and PAS-Port® Proximal Anastomosis System, for coronary artery bypass graft (CABG) surgery and has shipped over 37,000 units throughout the world. In addition, Cardica is developing the Cardica MicroCutter XPRESS 30, a true multi-fire laparoscopic stapling device designed to be used in a variety of procedures, including bariatric, colorectal, thoracic and general surgery. The Cardica MicroCutter products require 510(k) review and are not yet commercially available in the U.S. The Cardica MicroCutter XCHANGE 30 is not yet commercially available.

Forward-Looking Statements

This press release contains "forward-looking" statements, including all statements regarding the further development of Cardica's MicroCutter product line and product introduction. Any statements contained in this press release that are not historical facts may be deemed to be forward-looking statements. The words "will" and similar expressions are intended to identify forward-looking statements. There are a number of important factors that could cause Cardica's results to differ materially from those indicated by these forward-looking statements, including that any future Cardica products face development, regulatory, reimbursement and manufacturing risks, as well as other risks detailed from time to time in Cardica's reports filed with the U.S. Securities and Exchange Commission, including its Form 10-Q for the fiscal quarter ended September 30, 2011. Cardica expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein. You are encouraged to read Cardica's reports filed with the U.S. Securities and Exchange Commission, available at www.sec.gov.


'/>"/>
SOURCE Cardica, Inc.
Copyright©2010 PR Newswire.
All rights reserved

Related medicine technology :

1. Cardica to Present at Upcoming Investor Conferences
2. Cardica Announces Fiscal 2012 First Quarter Financial Results
3. Cardica Appoints Christopher Littel VP, Sales and Marketing
4. Cardica to Announce Fiscal 2012 First Quarter Financial Results on Thursday, October 27, 2011
5. Cardica Achieves Milestone Under Century Distribution Agreement
6. Cardicas Cardiac Anastomosis Device Featured in Clinical Presentation on Robotic Cardiac Bypass Procedures
7. Cardica Signs Distribution Agreement for MicroCutter in Japan
8. Cardica Announces Fiscal 2011 Fourth Quarter and Year End Financial Results
9. Cardica to Present at the Wedbush Life Sciences Management Access Conference
10. Dr. Andreas Kuthe Performs First Laparoscopic Procedures Using Cardicas Microcutter XPRESS™ 30 Surgical Cutting and Stapling Device
11. Cardica Applies CE Mark to Microcutter XPRESS™ 30 Surgical Cutting and Stapling Device
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:10/2/2017)...  AllianceRx Walgreens Prime, the combined central specialty pharmacy ... benefit manager Prime Therapeutics LLC (Prime), today officially began ... unveiling of new signage at its headquarters in ... a few other company-owned facilities across the country. This ... of whom will begin to see the AllianceRx Walgreens ...
(Date:10/2/2017)... COPENHAGEN, Denmark , Oct. 2, 2017 The ... tool in the struggle to reverse the tide of prescription ... plan for regulating their medicine intake and stepping down their ... is set to launch in December 2017; the first 100,000 ... access. Learn more at http://www.rebound-solution.com/ ...
(Date:9/28/2017)... 28, 2017 Cohen Veterans Bioscience and Early ... of wearable and home sensors for real-time monitoring of ... Foundation, a nonprofit organization focused on disruptive health solutions ... affordable analytical system to record and integrate behavioral, cognitive, ... ...
Breaking Medicine Technology:
(Date:10/13/2017)... (PRWEB) , ... October 13, 2017 , ... Yisrayl Hawkins, ... week that explains one of the most popular and least understood books in the ... cryptic and puzzling descriptions that have baffled scholars for centuries. Many have tossed it ...
(Date:10/12/2017)... (PRWEB) , ... October 12, 2017 , ... ... advisory services for healthcare compliance program management, will showcase a range of technology ... Association for Assisted Living (NCAL) Convention and Expo to be held October 14–18, ...
(Date:10/12/2017)... ... October 12, 2017 , ... The American College of Medical Informatics (ACMI) will ... during the Opening Session of AMIA’s Annual Symposium in Washington, D.C. AMIA’s Annual ... F. Collen, a pioneer in the field of medical informatics, this prestigious award is ...
(Date:10/12/2017)... ... October 12, 2017 , ... Leading pediatric oncology experts at Children’s National ... 49th Congress of the International Society of Paediatric Oncology (SIOP) Oct. 12-15. ... for Cancer and Blood Disorders at Children’s National, and Stephen P. Hunger, M.D., ...
(Date:10/12/2017)... ... 12, 2017 , ... Vohra Chief Medical Officer Dr. Shark ... skilled nursing facility medical directors and other clinicians at various events in October. ... "At many of these conferences we get to educate other physicians, facility nurses, ...
Breaking Medicine News(10 mins):