PipelineReview.com - Biotech News & Online Store - Micrus Endovascular Receives Approval to Sell Neurovascular Stent in Europe; First Approved Product From Micrus and BIOTRONIK AG Agreement

Micrus Endovascular Receives Approval to Sell Neurovascular Stent in Europe; First Approved Product From Micrus and BIOTRONIK AG Agreement

08 Mar 2006

SAN JOSE, CA, USA | Mar 08, 2006 | Micrus Endovascular Corporation (Nasdaq: MEND) today announced that it has received the

CE Mark, which allows it to begin marketing the Pharos(TM) stent for the treatment of ischemic and hemorrhagic stroke. Micrus expects to immediately begin selling the Pharos stent in the European Union, and all countries recognizing the CE Mark, through its direct sales and distribution network. The Pharos stent was developed and will be brought to market under an agreement between Micrus Endovascular and BIOTRONIK AG announced in January 2006.

"In keeping with our strategic plan, the introduction of the Pharos stent expands our product portfolio, allowing us to compete for a greater portion of the per-procedure revenue dollar," said John Kilcoyne, Micrus Endovascular president and CEO. "We are very excited about the introduction of the Pharos stent because it provides our customers with a new tool to treat both ischemic and hemorrhagic stroke. The Pharos stent is the first of several products we plan to jointly develop and market using BIOTRONIK's proprietary technology."

"The approval of our first collaborative product is a testament to our synergistic relationship with Micrus Endovascular," said Claus Martini, BIOTRONIK CEO, Vascular Intervention. "We are delighted to see our technology move beyond the cardiovascular and peripheral vascular intervention markets, and look forward to introducing additional products through our joint collaboration."

BIOTRONIK AG is a member of the BIOTRONIK group, a leading European manufacturer of medical technology with a worldwide market presence. The company offers a complete line of products for diagnosis, treatment and advanced therapy support in the areas of cardiac rhythm management, electrophysiology and vascular intervention. The vascular intervention portfolio comprises of guide wires, balloon catheters and stent systems for coronary and peripheral applications.

About Micrus Endovascular Corporation

Micrus Endovascular develops, manufactures and markets both implantable and disposable medical devices used in the treatment of cerebral vascular diseases. Micrus products are used by interventional neuroradiologists and neurosurgeons primarily to treat cerebral aneurysms responsible for hemorrhagic stroke, a significant cause of death in the United States. The Micrus product line enables physicians to gain access to the brain in a minimally invasive manner through the vessels of the circulatory system. Micrus' proprietary, three-dimensional microcoils are unique in that they automatically deploy within the aneurysm, forming a scaffold that conforms to a wide diversity of aneurysm shapes and sizes. Micrus also sells accessory devices and products used in conjunction with its microcoils. For more information, visit www.micruscorp.com.

Forward-Looking Statements

Micrus, from time to time, may discuss forward-looking information. Except for the historical information contained in this release, all forward-looking statements are predictions by the Company's management and are subject to various risks and uncertainties that may cause results to differ from management's current expectations. Such factors include the Company's dependence upon the increased adoption of embolic coiling as a procedure to treat cerebral aneurysms, the Company's limited operating history and history of significant operating losses, the Company's involvement in patent litigation with Boston Scientific Corporation, fluctuations in quarterly operating results, which are difficult to predict, the Company's dependence on developing new products or product enhancements, challenges associated with rapid growth, challenges associated with complying with applicable state, federal and international regulations related to sales of medical devices and governing our relationships with physicians and other consultants, the Company's ability to compete with large, well-established medical device manufacturers with significant resources, the Company's dependence on obtaining timely U.S. Food and Drug Administration (FDA) as well as applicable international regulatory clearances and approvals for our future products or product enhancements, and other risks as detailed from time to time in the Company's final prospectus dated June 16, 2005 and reports and filings with the Securities and Exchange Commission under the Securities and Exchange Act of 1934. All forward-looking statements in this release represent the Company's judgment as of the date of this release. The Company disclaims, however, any intent or obligation to update forward-looking statements.

SOURCE: Micrus Endovascular Corporation

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