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:3/24/2017)... 24, 2017  Eli Lilly and Company (NYSE: ... invest $850 million in its U.S. operations in ... U.S. enterprise, including research laboratories, manufacturing sites, and ... driven by demand for Lilly products, as well ... development targeting cancer, pain, diabetes and other unmet ...
(Date:3/24/2017)... YORK and GENEVA , ... announced on World Tuberculosis Day revitalizes efforts to develop ... On World Tuberculosis Day, TB Alliance and ... for the clinical development of sutezolid, an antibiotic drug ... sublicense pertains to the development of sutezolid in combination ...
(Date:3/23/2017)... PUNE, India , March 23, 2017 ... are growing ageing population, increasing diabetic population, accelerating economic growth ... developments of this industry are higher life expectancy of ESRD ... potential in emerging markets. However, the expansion of the market ... ...
Breaking Medicine Technology:
(Date:3/24/2017)... , ... March 24, 2017 , ... ... which will spark a conversation on the current obstacles facing infection prevention and ... completely preventable deaths caused by these infections. , The print component of ...
(Date:3/24/2017)... ... ... Texas Physical Therapy Specialists (TexPTS) is pleased to announce the opening ... is the group’s 7th location in San Antonio and 23rd in Texas. Dr. ... from the clinic, which opened March 22, 2017. , The team of ...
(Date:3/24/2017)... Pittsburgh, PA (PRWEB) , ... March 24, 2017 ... ... the Oncology Nursing Society (ONS) wanted to create a communications platform that positions ... realize this goal, Elliance and ONS reinvented their online publication as an always-on, ...
(Date:3/24/2017)... ... 24, 2017 , ... Gastro Health (“GH”) ( http://www.gastrohealth.com ... for colonoscopy at the HyGIeaCare® Center that is to be located adjacent to ... , The HyGIeaCare® Prep, cleared by the U.S. Food and Drug Administration (FDA), ...
(Date:3/24/2017)... ... 24, 2017 , ... “Vintage and Harvest A Cultivation of Christian Love” is ... residing in North Carolina with his wife, Anna Marie. He and his wife are ... David is also the author of “Shadow and Substance.” , “Love, the agape kind, ...
Breaking Medicine News(10 mins):