Interesting news.
OTTAWA, Ontario, Canada, Oct. 6 /CNW-PRN/ - World Heart Corporation
(WorldHeart) announced today that it has reached an agreement with The
Cleveland Clinic Foundation in which Clinic researchers will assist in
the development of the HeartSaver VAD(TM).
Under the agreement, The Cleveland Clinic Foundation will collaborate
with researchers at WorldHeart and the University of Ottawa Heart
Institute to develop this unique, patented artificial heart. The
HeartSaver VAD(TM) is totally implantable in the chest cavity and is
remotely powered and monitored.
''Each year, about 2,300 heart transplants are performed in the United
States; yet most estimates project that 50,000 to 70,000 people could
benefit from one,'' said Dr. Cornhill, Chairman of the Department of
Biomedical Engineering at The Cleveland Clinic Foundation. ''Once in
clinical use, the HeartSaver VAD(TM) could save many lives.''
The Cleveland Clinic Foundation is a private, nonprofit academic group
practice that is renowned for many of its 100 medical specialties and
subspecialties. The Cleveland Clinic Foundation's reputation in the
treatment of heart disease and the development of artificial organs is
recognized worldwide. The University of Ottawa Heart Institute is an
international center of excellence for the prevention, treatment and
rehabilitation of heart disease through patient care, research and
education.
''The collaboration of these two institutions with WorldHeart will
contribute significantly to bringing HeartSaver VAD(TM) to clinical
trials,'' said Dr. Mussivand, President of World Heart Corporation.
In September World Heart Corporation announced the achievement of a
major milestone in the evolution of the HeartSaver VAD(TM). The
research and development team successfully concluded the in vivo
testing of version 5 of the device. A series of twenty-seven in vivo
studies have been conducted to determine the refinements necessary to
improve the device. The most recent implant was electively terminated
on September 6th after 30 days.
Version 6 of the HeartSaver VAD(TM) will now be finalized and
prototyped for formal in vitro and in vivo studies prior to expected
submission for regulatory approval in Canada in 1999.
WorldHeart is a medical devices business focused on commercialization
of artificial heart and related technologies for which the worldwide
rights were acquired from the University of Ottawa Heart Institute.
The continuing research and development of these technologies is
carried out under contract to WorldHeart by the Cardiovascular Devices
Division of the Ottawa Heart Institute Research Corporation, an
affiliate of the University of Ottawa Heart Institute. WorldHeart is a
public company whose stock trades on the NASDAQ SmallCap Market (ticker
symbol: WHRTF) and the Canadian Dealing Network (ticker symbol: WHRT).
Any forward looking statements in this release are made pursuant
to the safe harbour provisions of the Private Securities Litigation
Reform Act of 1995. Investors are cautioned that all forward-looking
statements involve risk and uncertainties, including without
limitation, risks in product development and market acceptance of and
demand for the Company's products, risks of downturns in economic
conditions generally, and in the medical devices markets, risks
associated with costs and delays posed by government regulation,
limitations on third party reimbursement, inability to protect
proprietary technology, potential product liability and other risks
detailed in the Company's filings with the U.S. Securities and Exchange
Commission. All financial figures are prepared in accordance with
Canadian Generally Accepted Accounting Principles (GAAP) and are
expressed in Canadian dollars.
SOURCE: World Heart Corporation
-0- 10/06/97 /CONTACT: Sandy Armstrong,
Communications Department, World Heart Corporation, Tel.: (613)
237-4278, Fax: (613) 238-2911, E-Mail: mwyndham-west(at)worldheart.com/ |
