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Arterial Remodeling Technologies Appoints Machiel Van Der Leest as Chief Executive Officer


11/4/2008 7:46:08 AM

PARIS--(BUSINESS WIRE)--Arterial Remodeling Technologies (“ART”) announced today that it has appointed Machiel Van Der Leest as its Chief Executive Officer, effective immediately. Most recently, Van Der Leest was ART’s Chief Operating Officer since March 2008. Prior to joining ART, he was Director of R&D and Regulatory Affairs since May 2003 at Minvasys.

“Given the enthusiasm among clinicians attending this year’s TCT congress—regarding clinical data showing that bioabsorbable stents sustained their safety and effectiveness at two years post-implantation in patients with coronary artery disease—the timing of Machiel’s appointment to CEO is certainly most opportune,” said ART Director Dr. Thierry Chignon, Director of Investments at Matignon Technologies, one of the largest medtech-focused funds in Europe. “Because of ART’s approach of achieving temporary stenting of a traumatized angioplasty site, the Company expects to benefit greatly from Machiel’s proven understanding of the development, regulatory, clinical, manufacturing and market dynamics of the bioresorbable stent sector.”

“This is a tremendously exciting time to be at ART,” said Van Der Leest. “Preclinical testing shows that ART’s bioresorbable stent provides the requisite initial mechanical scaffolding to resist recoil. Then, as it dismantles over time in a controlled fashion because of its polylactic acid makeup, the possibility of remodeling returns to the artery. Preliminary testing suggests our polymer-based bioresorbable stent causes little, if any, inflammation in the artery, which further suggests there is no need to use antiproliferative drugs with our stent. And, the endothelialization we’ve seen at 30 days post implant in preclinical testing is outstanding,” added Van Der Leest.

Earlier this year ART announced the leasing of a manufacturing facility (2,000 square feet) as a result of mastering proprietary polymer-based manufacturing technology to produce its bioresorbable stents. The facility is now being made ready for producing the Company’s bioresorbable stents, which can be designed to dismantle in vivo over an optimized time horizon, thus allowing the body’s natural arterial remodeling process to occur, which is normally restricted by deployment of permanent metallic stents.

About Arterial Remodeling Technologies (“ART”)

Arterial Remodeling Technologies (“ART”) is developing bioresorbable peripheral and coronary polymer stents that promote the natural remodeling of an injured artery after angioplasty. The Company’s technology is based on intellectual property originating from three esteemed institutions: the Cleveland Clinic; the French national research institute, C.N.R.S. (Centre National de Recherche Scientifique), Montpellier, France; and, Necker University, Paris. To date, ART has raised €10 ($14.2) million in venture capital from investors Matignon Technologies and SGAM Alternative Investments.

Contact:

Ronald Trahan Associates Inc. Ronald Trahan, APR, 508-359-4005, x108

Source: Arterial Remodeling Technologies

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