New Partnership Will Enable Volcano to Sell ev3's SpiderFX Embolic Protection
Device for Use in Saphenous Vein Grafts
PLYMOUTH, Minn. and RANCHO CORDOVA, Calif., April 3
/PRNewswire-FirstCall/ -- ev3 Inc. (Nasdaq: EVVV) and the Volcano
Corporation (Nasdaq: VOLC) announced today that they have entered into a
joint marketing and distribution agreement. Under the terms of the
agreement, Volcano will have the opportunity to sell ev3's SpiderFX Embolic
Protection Device in conjunction with their Intravascular Ultrasound (IVUS)
and Functional Measurement (FM) devices for use in saphenous vein grafts
(SVGs) in the U.S. The SpiderFX is FDA cleared for use during the
endovascular treatment of both SVGs and carotid arteries.
(Logo: http://www.newscom.com/cgi-bin/prnh/20050615/CGEV3LOGO )
SVGs are commonly used during open-heart surgery to bypass blocked
coronary arteries. As many as one-third of patients experience significant
blockages in the grafted vessel(s) within 12 years following bypass
surgery, and as a result, may require an endovascular procedure such as
balloon angioplasty or stenting. Embolic protection devices are used to
contain and remove the embolic debris that may become dislodged during
these and other endovascular procedures.
The Volcano Intravascular Ultrasound and Functional Measurement systems
provide real time data that enable endovascular specialists to select,
guide, and evaluate the appropriate treatment of vascular diseases.
Volcano's IVUS device is a catheter-based system that allows physicians to
acquire real time images from within a blood vessel. These images provide
detailed and accurate measurements of the vessel size, as well as both the
area and volume of plaque disease in the vessel. The Volcano FM device is a
guidewire-based system that analyzes blood pressure and flow parameters
from within a blood vessel during a diagnostic or therapeutic endovascular
procedure.
The ev3 Spider product family is one of the most broadly tested of
commercially available embolic protection devices on the market. The FDA
clearance for use in procedures involving the SVG was supported by the
successful outcome of a clinical trial involving over 700 patients. The
trial, conducted in the United States and Canada, compared the safety and
efficacy of the Spider product family to three other FDA-approved embolic
protection products in reducing complications associated with angioplasty
or stenting of lesions in the SVG. The SpiderFX is available in a rapid
exchange platform, and is the only device of its type that permits
physicians to use their guidewire of choice.
Scott Huennekens, President and CEO of Volcano, stated, "We are very
excited about our new agreement with ev3 and the opportunity for our U.S.
sales team of over 80 professionals to sell what we think is the premier
embolic protection device on the market. We believe the addition of
SpiderFX will be a great complement to our existing family of products."
Added Jim Corbett, President and CEO of ev3, "Volcano has been very
successful in helping interventional specialists diagnose and treat
vascular disease, providing them with previously unavailable images and
information. We are very pleased to be affiliated with an organization that
shares our commitment to the treatment of this disease state and look
forward to a long and mutually beneficial relationship."
About Volcano Corporation:
Volcano Corporation (Nasdaq: VOLC) offers a broad suite of devices
designed to facilitate endovascular procedures, enhance the diagnosis of
vascular and structural heart diseases and guide optimal therapies. The
company's intravascular ultrasound (IVUS) product line includes ultrasound
consoles that can be integrated directly into virtually any modern cath lab
and single-use phased array and rotational IVUS imaging catheters. Volcano
also has unique advanced functionality options, such as VH(TM) IVUS tissue
characterization. Volcano also provides functional measurement (FM)
consoles and single-use pressure and flow guide wires. Currently, more than
2,500 Volcano IVUS and FM systems are installed worldwide, with
approximately half of its revenues coming from outside the United States.
For more information, visit the company's website at
http://www.volcanocorp.com .
About ev3 Inc.
ev3 is a global medical device company focused on catheter-based
technologies for the endovascular treatment of vascular diseases and
disorders. For more information, please visit http://www.ev3.net .
Statements contained in this press release that are not historical
information are forward-looking statements as defined within the Private
Securities Litigation Reform Act of 1995. Such forward-looking statements
are subject to risks and uncertainties that could cause actual results to
differ materially from those projected or implied. Such potential risks and
uncertainties relate, but are not limited to, in no particular order:
product demand and market acceptance, the impact of competitive products
and pricing, and success of clinical testing. More detailed information on
these and additional factors which could affect each party's operating and
financial results are described in each of the party's filings with the
Securities and Exchange Commission, including its most recent annual report
on Form 10-K. The parties urge all interested parties to read these reports
to gain a better understanding of the many business and other risks that
the company faces. Additionally, the parties undertake no obligation to
publicly release the results of any revision to these forward-looking
statements, which may be made to reflect events or circumstances occurring
after the date hereof or to reflect the occurrence of unanticipated events.
ev3 and the ev3 logo are trademarks of ev3 Inc., registered in the U.S.
and other countries.
SOURCE ev3 Inc.
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Related links:
http://www.ev3.net
http://www.volcanocorp.com
Photo Notes:
NewsCom: http://www.newscom.com/cgi-bin/prnh/20050615/CGEV3LOGO
AP Archive: http://photoarchive.ap.org
PRN Photo Desk, photodesk@prnewswire.com
CONTACT:
Patrick Spangler, CFO, of ev3 Inc.,
+1-763-398-7000, or pspangler@ev3.net , or Media Relations, Laura
Nobles, of Nobles Communications, +1-310-795-0497, or
laura@noblescommunications.com , or Investor Relations, Marian
Briggs, of Padilla Speer Beardsley, +1-612-455-1742, or
mbriggs@psbpr.com
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