SUNNYVALE, Calif., Dec. 2 /PRNewswire/ -- CardioGenesis Corporation
(Nasdaq: CGCP), a leader in transmyocardial revascularization (TMR)
technology, today reported developments in its continued research into the use
of growth factors in conjunction with TMR. The Company announced that US.
Patent No. 5,840,059 entitled "Therapeutic and Diagnostic Agent Delivery"
issued to the Company on November 24, 1998. The patent is directed to the
administration of angiogenic growth factors as part of a therapy for severe
angina (chest pain) resulting from severe coronary artery disease. The
Company also announced agreements for exclusive licenses to the patent rights
held by co-developers of the technology, Indiana University and Columbia
University, where researchers had validated the techniques. Terms of the
agreements were not disclosed.
"We are very pleased to have obtained this important piece of intellectual
property and to have reached agreement with our research partners. We intend
to continue exploring the potential of growth factors used in combination with
TMR as a therapeutic strategy," stated Allen Hill, President and CEO.
The patent is directed to the Company's research into the use of growth
factors as part of a revascularization treatment. The patent addresses both
surgical and percutaneous approaches to combination TMR and growth factor
therapies. Reports on CardioGenesis' research into growth factors and TMR
were recently presented at the recent TransCatheter Therapeutics and American
Heart Association meetings.
CardioGenesis Corporation, based in Sunnyvale, Calif., develops,
manufactures and markets proprietary systems including disposable products, to
perform intraoperative transmyocardial revascularization, catheter-based
percutaneous myocardial revascularization, and thoracoscopic transmyocardial
revascularization, to treat patients afflicted with debilitating angina.
CardioGenesis catheter systems and probes deliver laser energy to create
channels in oxygen-deprived (ischemic) regions of the heart muscle
(myocardium). CardioGenesis holds patents for systems and method of
percutaneous myocardial revascularization, and transmyocardial
revascularization, and has a number of patent applications pending worldwide.
For more information on the company and its products, visit the CardioGenesis
website at: http://www.cardiogenesis.com.
On October 22, 1998, CardioGenesis and Eclipse Surgical Technologies Inc.
(Nasdaq: ESTI) reported that they signed a definitive agreement in which the
two companies would combine in a reverse triangular merger. Under the terms
of the agreement, each share of CardioGenesis Common Stock will be converted
into the right to receive 0.8 shares of Eclipse Common Stock.
Except for the historical information contained herein, the matters
discussed in this news release are forward-looking statements that involve
risk and uncertainties, including: approval for and final results of clinical
studies; timing of regulatory approvals; reliance on Boston Scientific
Corporation as a distributor in certain markets outside of the U.S. for the
company's products and pricing; potential third-party patent infringement
claims; the management of growth; and the effectiveness of the company's ITMR,
TTMR and PMR Systems, as well as related procedures. For further information,
refer to risk factors under the caption "Management's Discussion and Analysis
of Financial Condition and Results of Operations -- Risk Factors" and
elsewhere in the company's 1997 Form 1O-K as filed with the Securities and
Exchange Commission.
SOURCE CardioGenesis Corporation
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Related links:
http://www.cardiogenesis.com
CONTACT:
Allen W. Hill, President and CEO, or Richard
P. Powers, Executive Vice President and CFO, 408-328-8500, both
of CardioGenesis Corporation; or Ann Trunko, general info, or
Kate Rajeck, analyst contact, 415-986-1591, both of The Financial
Relations Board for CardioGenesis Corporation
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