Rubicon Medical Signs Licensing Agreement With Abbott Laboratories
Salt Lake City – Feb. 2, 2001 – Rubicon Medical Inc., a Salt Lake City, Utah based developer and manufacturer of medical devices and products, today announced signing a technology transfer and worldwide licensing agreement with Abbott Laboratories for its GuardianTM embolization protection system.
The Guardian system is a neurological, cardiac and renal embolic protection system. Guardian utilizes a balloon that is inflated during a stent procedure and an aspiration catheter to remove dislodged embolic material. Removing the embolic material that breaks off vessel walls during interventional procedures may reduce adverse events by stopping and removing emboli from the blood stream before it reaches the heart, brain or kidneys. Recent medical advances in interventional cardiology have created an increased demand for medical devices that capture embolic material before they move through the bloodstream to cause damage to vital organs. Although research indicates that embolic capture devices could be used as standard practice in carotid stenting procedures and in approximately 10% to 20% of coronary procedures, there are currently no embolic capture devices on the U.S. market.
Rubicon is currently co-developing the Guardian system with Perclose, an Abbott subsidiary. Abbott will market Guardian through Perclose.
“The Guardian system is a compliment to Abbott’s expanding offerings in interventional cardiology, which is a high-growth, developing market,” stated Richard A. Gonzalez, Executive Vice President, Medical Products, Abbott Laboratories.
“We are very pleased to have concluded this licensing agreement with an industry leader like Abbott,” Richard J. Linder, President and CEO of Rubicon Medical, added. “Abbott has the infrastructure to successfully market the Guardian system both in the United States and abroad. As Rubicon continues to develop additional devices for the high growth neuro-interventional, peripheral, and interventional cardiology markets, we look forward to building similar licensing and marketing relationships with global vascular leaders.”
About Rubicon Medical
Rubicon Medical, Inc. is a Salt Lake City, Utah based developer and manufacturer of medical devices and products that are used worldwide. The Company has three strategic business units (SBUs): Technology Development & Licensing, Contract Manufacturing, and Equipment Manufacturing. The Technology Development & Licensing SBU designs and develops new medical device technologies for the high growth neuro-interventional, peripheral, and interventional cardiology markets. The Contract Manufacturing SBU offers products in medical tubing and catheters, subcutaneous catheters, and various product assembly and molding operations. The Equipment Manufacturing SBU designs and makes the most advanced Radio Frequency (RF) molding equipment in the world and sells these products worldwide.
Abbott Laboratories
Abbott Laboratories is a global, diversified health care company devoted to the discovery, development, manufacture and marketing of pharmaceutical, diagnostic, nutritional and hospital products. The company employs 60,000 people and markets its products in more than 130 countries. In 2000, the company's sales and net earnings were $13.7 billion and $2.8 billion, respectively, with diluted earnings per share of $1.78.
All forward-looking statements in this release are based upon information available to the Company on the date of this release. Any forward-looking statements involve risks and uncertainties, including those risks and uncertainties described n the Company’s filings with the Securities and Exchange Commission, that could cause actual events or results to differ materially from the events or results described in the forward-looking statements, whether as a result of new information, future events or otherwise. Readers are cautioned not to place undue reliance on these forward-looking statements.
Source: Rubicon Medical, Inc.
rubiconmed.com |
