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Volcano Announces Distribution Agreement With AngioScore for the AngioSculpt® PTCA Scoring Balloon Catheter in Japan
Volcano continues to expand suite of devices that include both PCI guidance and therapy
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AngioSculpt
PTCA Scoring
Balloon Catheter |
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April 27, 2010 -- San
Diego -- Volcano Corporation (Nasdaq: VOLC), a leading
developer and manufacturer of precision intravascular therapy
guidance tools
designed to enhance the diagnosis and treatment of coronary
and peripheral vascular disease, announced today that it
has entered
into a distribution agreement with AngioScore for its AngioSculpt® PTCA
Scoring Balloon Catheter for coronary indications in Japan.
This is the first of what Volcano believes will be many products
distributed
by Volcano Japan, which now includes more than 50 direct
sales representatives. |
"Not every lesion or heart blockage is the same," commented Scott Huennekens, President and CEO of Volcano. "Physicians
have to make a number of difficult decisions as they build a lesion
by lesion treatment strategy for their patients. The first step
is to identify which blockages require angioplasty or stenting,
or a combination of both, versus medical therapy alone. But once
the decision has been made to place a stent, the pre-stent preparation,
and the post-stent expansion strategies can differ greatly across
lesion types as well. This relationship between Volcano and AngioScore
now combines two technologies: Visualization with Volcano's intravascular
imaging products to build a lesion specific strategy; and tailored
therapy with the AngioSculpt Scoring Balloon Catheter to deliver
a targeted treatment for that specific type of lesion. This concept
of precision-guided therapy using intravascular imaging has already
taken hold in Japan where the technique is used in more than 70%
of all PCI procedures. Our distribution of the AngioSculpt device
now gives us access to both parts of the equation - imaging and
therapy." The AngioSculpt Scoring Balloon Catheter represents the next generation in angioplasty catheters. Its innovative nitinol element provides unique anti-slipping properties while circumferentially dilating plaque, providing a precise and predictable dilatation across a wide range of lesion types. The AngioSculpt provides the versatility and effectiveness of a new technology together with the simplicity and deliverability of a high-performance balloon catheter.
"We are excited about teaming with Volcano, particularly with the Volcano Japan sales organization," stated Thomas Trotter, President and CEO of AngioScore. "Over
the past 18 months, Volcano has built one of the largest direct
sales organizations in Japan of any company developing intravascular
imaging devices. Importantly, Volcano's leadership in education
related to disease progression, and their valued presence in the
cath lab, will help make the most of their product portfolio, which
now includes the AngioSculpt PTCA Scoring Balloon Catheter."
The exclusive, five-year distribution agreement became effective April 1, 2010. Volcano will distribute the entire line of AngioSculpt PTCA Scoring Balloon Catheters and any new, modified or next generation PTCA products.
"Angiography alone is not enough, and Volcano has a broad distribution platform to support that message," added Huennekens. "Building
our direct sales organization in Japan has been a successful strategic
initiative over the past 18 months, as our team now includes more
than 50 direct sales representatives, who are in the field calling
on cath labs every day. Our sales channel, complete with seasoned
clinical and regulatory personnel, is well-positioned to bring
to market our pipeline of new products and complementary distributed
products. We suspect that other companies developing interventional
cardiology devices for the Japanese market will not only see the
value in our precision guidance tools, but will also consider Volcano
as a very viable option for distribution of their products."
About Volcano Corporation
Volcano Corporation offers a broad suite of devices designed to facilitate
endovascular procedures, enhance the diagnosis of vascular and structural
heart disease 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. Volcano
IVUS offers unique features, including both single-use digital and
rotational IVUS imaging catheters, and advanced functionality options,
such as VH® IVUS tissue characterization and ChromaFlo®. Volcano also
provides Physiology consoles and single-use pressure and flow guide
wires and is developing a line of ultra-high resolution Optical Coherence
Tomography (OCT) systems and catheters. Currently, more than 5,000
Volcano IVUS and Physiology systems are installed worldwide, with approximately
half of Volcano's revenues coming from outside the United States. Volcano's
wholly-owned subsidiary, Axsun Technologies, develops and manufactures
optical monitors, lasers and optical engines used in telecommunications,
medical imaging, spectroscopy and other industrial applications. For
more information, visit the company's website at http://www.volcanocorp.com/.
About AngioScore
AngioScore, Inc. (www.angioscore.com) is a privately funded endovascular company located in Fremont, California.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning
of the U.S. Private Securities Litigation Reform Act of 1995. Any statements
in this release regarding Volcano's business that are not historical
facts may be considered "forward-looking statements," including statements
regarding the potential benefits of the products and procedures described
above, market adoption of the company's technology, and the impact
of clinical and other technical data. Forward-looking statements are
based on management's current preliminary expectations and are subject
to risks and uncertainties which may cause Volcano's results to differ
materially and adversely from the statements contained herein. Some
of the potential risks and uncertainties that could cause actual results
to differ from the results predicted are detailed in the company's
annual report on Form 10-K and other filings made with the Securities
and Exchange Commission. Undue reliance should not be placed on forward-looking
statements which speak only as of the date they are made. Volcano undertakes
no obligation to update any forward-looking statements to reflect new
information, events or circumstances after the date they are made,
or to reflect the occurrence of unanticipated events.
Source: Volcano
Corporation
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