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Endologix to Acquire Nellix
Date:10/27/2010

IRVINE, Calif., Oct. 27 /PRNewswire-FirstCall/ -- Endologix, Inc. (Nasdaq: ELGX), developer of minimally invasive treatments for aortic disorders, announced today that it has signed a definitive agreement to acquire Nellix, Inc, a privately-held medical device company that has developed a revolutionary endograft for the treatment of Abdominal Aortic Aneurysms (AAAs).

Under the terms of the agreement, Endologix will acquire Nellix for $15 million in stock at closing, plus additional milestone-based, stock payments of up to $39 million. The agreement also includes a commitment for a $15 million equity investment in Endologix from Essex Woodlands Health Ventures, the majority shareholder of Nellix. Endologix anticipates that the closing of the transactions will occur in the fourth quarter of 2010, subject to approval of the stockholders of Endologix and certain other customary closing conditions.  The shares of Endologix's common stock to be issued to stockholders of Nellix and to Essex Woodlands will not be registered under the Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.

Nellix has developed a highly differentiated technology platform that completely seals and fills an aortic aneurysm sac, preventing device migration and potentially improving clinical outcomes. This allows the product to treat a wide range of AAA anatomies, including those that are outside of the indications for existing Endovascular Aortic Repair (EVAR) devices. These include patients with aortic neck lengths of 5 millimeters or less, widths as wide as 34 millimeters, and patients with iliac aneurysm diameters greater than 23 millimeters. Initial clinical results from patients with up to two years follow-up have shown 100% implant success; 100% freedom from AAA-related mortali
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SOURCE Endologix, Inc.
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