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Cordis Europe Partnering With Volcano Europe to Provide Access to Intravascular Imaging (IVUS) for Use in Drug-Eluting Stent Procedures
Collaboration Focuses on Providing the Benefits of
IVUS-Guided Stenting to a Wider Array of Hospitals

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Volcano Corporation

November 8, 2007 -- Waterloo, Belgium -- Cordis Europe announced today a collaboration with Volcano Europe, a developer and manufacturer of intravascular ultrasound (IVUS) systems and imaging catheters, that will allow Cordis to assist hospitals in Europe to gain access to Volcano's state-of-the-art IVUS technology.

IVUS is a catheter-based imaging system that allows physicians to acquire very high-resolution images of diseased vessels from inside the artery and facilitates more accurate stent placement.

"Cordis is determined to make IVUS technology more widely available to European physicians and their patients with coronary artery disease," stated Staffan Ternstrom, President, Cordis Europe, Middle East and Africa. "More than three million patients worldwide have received the CYPHER® Sirolimus-eluting Coronary Stent, whose safety and efficacy is supported by a robust clinical trial program that includes more than 75 clinical studies. Now, along with IVUS, physicians have a new and innovative tool to treat the many patients in Europe with coronary artery disease."

In the past, doctors have used angiograms as a guide to appropriately deploy a stent but as IVUS has improved, doctors and patients are beginning to recognize the advantages of a well-visualized stent placement, particularly in complex lesions. Several recent studies have highlighted the value of IVUS guided stenting for optimal procedural outcomes.

About the CYPHER® Stent
The CYPHER® Stent is the most studied drug-eluting stent in history and has been chosen by cardiologists worldwide to treat more than 3 million patients with coronary artery disease. The safety and efficacy of the device is supported by a robust clinical trial program that includes more than 70 studies that examine the performance of the CYPHER® Stent in a broad range of patients.

The CYPHER® Stent is currently available in more than 80 countries and has the broadest clinical experience and longest-term clinical follow-up of any drug-eluting stent. The next version of a sirolimus-eluting stent, the CYPHER SELECT™ Sirolimus-eluting Coronary Stent, was launched in Europe, Asia Pacific, Latin America and Canada in 2003. The CYPHER SELECT™ Plus Stent, the third version of a sirolimus-eluting coronary stent, received CE Mark in 2006 and is currently available in many markets outside the United States.

About Cordis Corporation
Cordis, a Johnson & Johnson company, is a worldwide leader in the development and manufacture of interventional vascular technology. Through the company's innovation, research and development, Cordis partners with interventional cardiologists worldwide to treat millions of patients who suffer from vascular disease.

(This press release contains "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995. These statements are based on current expectations of future events. If underlying assumptions prove inaccurate or unknown risks or uncertainties materialize, actual results could vary materially from Cordis' expectations and projections. Risks and uncertainties include general industry conditions and competition; economic conditions, such as interest rate and currency exchange rate fluctuations; technological advances and patents attained by competitors; challenges inherent in new product development, including obtaining regulatory approvals; domestic and foreign health care reforms and governmental laws and regulations; and trends toward health care cost containment. A further list and description of these risks, uncertainties and other factors can be found in Exhibit 99 of Johnson & Johnson's Annual Report on Form 10-K for the fiscal year ended December 31, 2006. Copies of this Form 10-K, as well as subsequent filings, are available online at http://www.sec.gov, http://www.jnj.com or on request from Johnson & Johnson. Cordis does not undertake to update any forward-looking statements as a result of new information or future events or developments.)

Cordis Corporation has entered into an exclusive worldwide license with Wyeth for the localized delivery of sirolimus in certain fields of use, including delivery via vascular stenting. Sirolimus, the active drug released for the stent, is marketed by Wyeth Pharmaceuticals, a division of Wyeth, under the name Rapamune®. Rapamune is a trademark of Wyeth Pharmaceuticals.