BioSpace.com

Biotech and Pharmaceutical
News & Jobs
Search the Site
 
   
Biotechnology and Pharmaceutical Channel Medical Device and Diagnostics Channel Clinical Research Channel BioSpace Collaborative    Job Seekers:  Register | Login          Employers:  Register | Login  

NEWSLETTERS
Free Newsletters
Archive
My Subscriptions

NEWS
News by Subject
News by Disease
News by Date
PLoS
Search News
Post Your News
JoVE

CAREER NETWORK
Job Seeker Login
Most Recent Jobs
Browse Biotech Jobs
Search Jobs
Post Resume
Career Fairs
Career Resources
For Employers

HOTBEDS
Regional News
US & Canada
  Biotech Bay
  Biotech Beach
  Genetown
  Pharm Country
  BioCapital
  BioMidwest
  Bio NC
  BioForest
  Southern Pharm
  BioCanada East
  US Device
Europe
Asia

DIVERSITY

INVESTOR
Market Summary
News
IPOs

PROFILES
Company Profiles

START UPS
Companies
Events

INTELLIGENCE
Research Store

INDUSTRY EVENTS
Biotech Events
Post an Event
RESOURCES
Real Estate
Business Opportunities

 News | News By Subject | News by Disease News By Date | Search News
eNewsletter Signup
Miles
Km80.5

   

Advanced Catheter Therapies Selects Hatch Medical for Technology Brokerage


6/18/2012 9:25:07 AM

CHATTANOOGA, TN--(Marketwire - June 18, 2012) -

Advanced Catheter Therapies, Inc. (ACT), (www.acatheter.com) today announced that it has contracted with Hatch Medical, L.L.C. (www.hatchmedical.com) to assist with licensing the company's lead vascular catheter product.

"We are extremely excited about the substantial progress we've made in the development of the patented Occlusion Perfusion Catheter™ (OPC), and that has encouraged us to move forward with commercializing the OPC, a universal localized therapeutic agent delivery catheter. We are also in the process of filing a 510(k) application with the U.S. FDA for the OPC," said Paul J. Fitzpatrick, CEO of ACT.

"We believe the OPC represents a next generation platform technology with tremendous potential to disrupt the therapeutic agent delivery markets, including but not limited to drug coated/eluting stents and balloons," said Paul Gianneschi, Managing Principal and Founder of Hatch Medical.

"The increasing occurrences of vascular and related diseases due to obesity and diabetes have generated an unprecedented need for devices such as the OPC," Gianneschi continued. "The market potential for this device is significant, with some estimates in excess of U.S. $8 billion. As you can imagine, we are very pleased to play a role in bringing this exciting technology to market."

The OPC is a multi-lumen balloon catheter designed to temporarily occlude a specific region from blood flow to allow the local delivery of therapeutic agents to the peripheral and eventually the coronary vasculature. The OPC has the ability to create a localized treatment chamber for the delivery of various types of therapeutic agents, including pharmaceuticals, live cells and biologics, to treat a variety of disease states and place the agent circumferentially into the vasculature of the treatment chamber.

An example of one of the vascular disease states the OPC has the potential to address is restenosis, which occurs in approximately 30-40 percent of all patients treated with procedures such as atherectomy, and balloon angioplasty. "These procedures actually create a controlled injury to the arterial vessel wall, causing a cascade of events that result in restenosis," explained Rex Teeslink, MD, the inventor of the device. "This can occur in as little as six months and requires surgical re-intervention."

The OPC is unique in its ability to measure pressure applied inside the treatment chamber and its inflow and outflow ports for chamber evacuation, filling and flushing. The OPC affords clinicians substantial procedural control along with the ability to select the treatment agent and volume along with preventing systemic release of the treatment agent.

In 2012, ACT raised a total of $2.98 million in Series A equity financing through an investment consortium in Chattanooga, TN. This has fueled the company's research and development, allowing substantial progress on the OPC while continuing to build a development pipeline of devices designed to improve endovascular debulking procedures (the clearing of blocked blood vessels).

About ACT
Advanced Catheter Therapies (www.acatheter.com), an early stage research and development medical device company, has a portfolio of innovative catheter technologies targeting vascular disease including thrombosis, inflammation, occlusions and restenosis.

About Hatch Medical, L.L.C.
Hatch Medical (www.hatchmedical.com) is an incubator and broker of medical device technologies, assisting clients in the sale, license or distribution of valuable medical device assets.


Media inquiries:
Lynn Hood
Email Contact
678-427-5040

ACT contact:
Paul Fitzpatrick
Email Contact
770-321-8439

Hatch Medical contact:
Paul Gianneschi
Email Contact
770-476-9940

Digg this    Bookmark with del.icio.us    Add to Newsvine

Technorati:



Read at BioSpace.com

   

ADD TO DEL.ICIO.US    ADD TO DIGG    ADD TO FURL    ADD TO STUMBLEUPON    ADD TO TECHNORATI FAVORITES