CTE -cardio bypass reports major progress today.
CardioTech International Reports Update on Coronary Artery Bypass Graft Clinical Trials: Three Adult Patients Have Now Reached Critical Six Months Milestone
PR Newswire - March 31, 2004 08:30
WILMINGTON, Mass., Mar 31, 2004 /PRNewswire-FirstCall via COMTEX/ -- CardioTech International, Inc. (Amex: CTE) today announced that the first three adult patients enrolled in the Brazilian clinical trials have reached the six months milestone. All three patients implanted with CardioTech's coronary artery bypass graft (CABG) are alive and living normal lives. All the patients were "no-option, re-do" patients; in other words, patients who had used all available veins in their body in previous coronary bypass surgeries. All of the patients were also diabetic (diabetes is a major contributing factor to coronary artery disease).
The longest living patient with the CardioPass synthetic coronary artery bypass graft was implanted on August 6, 2003 and has been living a normal live for seven months and three weeks. Historical clinical data suggests that the majority of clinical problems are encountered in the first six months after implantation of a coronary graft.
Michael Szycher, Ph.D., CEO of CardioTech International, Inc., stated: "In order to keep our investors informed on the progress of our clinical trial in Brazil, I am happy to report that the first three patients are doing well, at home and undergoing routine periodic hospital tests. The graft is performing as designed. In order to comply with all applicable regulations designed to prevent marketing of an unapproved medical device, we cannot provide detailed clinical data at this time."
Dr. Szycher continued: "We are happy that we are not just prolonging life, but are providing our patients with a good quality of life. A good quality of life encompasses the overall well-being of the patients, their mental state and freedom from chest pain (angina)."
About CardioTech:
CardioTech International, Inc. delivers innovative solutions and quality products primarily focused on the treatment of cardiovascular disease. CardioTech is comprised of a unique combination of established devices and products, augmented with significant product development activities, with operations in Wilmington, Massachusetts, Plymouth, Minnesota and Rancho Santa Margarita, California. Current revenue sources for CardioTech include patented medical grade polyurethanes for use in implantable medical devices, disposable devices manufactured on an OEM basis for Fortune 100 companies, cardiovascular tubing systems, arterial filters, oxygenators, cardioplegia delivery systems and oxygen saturation monitors. CardioTech's hydrogel and alginate wound dressings address a combined $600 million annual market. CardioTech is also developing a synthetic coronary artery bypass graft that addresses a potential market of $1.5 billion annually. Additionally, CardioTech has partnered with Implant Sciences and CorNova to accelerate the development of a drug-eluting stent that addresses a $1 billion market.
CardioTech believes that this Release contains forward-looking statements that are subject to risks and uncertainties. Such statements are based on management's current expectations and are subject to clinical trials results that could cause results to differ materially from the forward-looking statements. Please refer to CardioTech's SEC filings.
For more information, please contact:
Dave Gentry
Investor Relations Specialist
Aurelius Consulting Group
407-644-4256
Dave@aurcg.com
www.runonideas.com
SOURCE CardioTech International, Inc. |
