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Hatch Medical and Evexar Medical Sign Brokerage Agreement


8/22/2008 6:36:56 AM

DULUTH, Ga.--(BUSINESS WIRE)--Hatch Medical, L.L.C., a medical device incubator and technology brokerage firm, announced today that it has recently entered into an agreement with Evexar Medical Ltd. (Bromley, UK) to broker its self-expanding, collagen-based sealing technology, EndoSeal™.

Aortic Aneurysms are segmental dilatations of the aortic wall that cause the vessel's diameter to become enlarged. These diseased vessels often continue to thin and expand, increasing the risk of a spontaneous rupture, resulting in massive blood loss and often death.

Endovascular aortic repair (EVAR) was introduced in the mid 1990’s as a minimally invasive alternative to open surgical repair and was aimed at reducing many of the associated risks with current surgical techniques. Unfortunately, while aortic endografts provide numerous benefits, complications often follow this procedure. One of the more significant complications is an endoleak, a condition often attributed to a poor seal between the endograft and the native vessel at its extremities. Such endoleaks, if left untreated, predictably result in ongoing pressure in the aneurysmal sac with the associated risk of rupture.

Evexar Medical Ltd., in cooperation with University College London, has developed an exciting new technology to address endoleaks. The patented Evexar EndoSeal™ technology effectively seals gaps that can occur between an endograft and an irregular vessel wall, ensuring a secure seal and substantially reducing the possibility of endoleaks.

EndoSeal™ has been developed and tested utilizing the differential characteristics of spiralled lyophilised collagen and hyaluronic acid to allow the formation of an effective seal between the outside of the endograft and the inner wall of the treated vessel no matter how irregular it might be through disease.

EndoSeal™ technology is suitable for virtually any device diameter. This cost-effective solution is non-toxic, easy to manufacture and of further significance, can be used as a carrier system for sustained drug delivery.

“We are very pleased to be working with Evexar Medical and believe that the EndoSeal™ technology will provide innumerable benefits and greater procedural options for clinicians, patients and endograft manufacturers by reducing the long-term complications associated with endograft placement,” commented Paul Gianneschi, Managing Principal and Founder of Hatch Medical, L.L.C.

Mr. Stephen Barker (Consultant Vascular Surgeon) and Professor Robert Brown (of the Tissue Repair and Engineering Centre) of University College London are joint inventors of the EndoSeal™ system. They commented, “We believe that EndoSeal™ will dramatically enhance the successful primary placement of endoluminal stent-grafts and minimize the need for secondary interventions. We are delighted to be working alongside Hatch Medical on the EndoSeal™ project to discover fully the true capabilities of the system.”

Approximately 50,000 EVAR procedures were performed throughout the world in 2006 with an estimated value of $600 million. The percentage of patients treated with endovascular procedures has grown steadily since its introduction, and it has been estimated that the EVAR market will reach $1 billion by 2010. EndoSeal™ technology is being made available for licensing or acquisition to interested third party industry members through an exclusive agreement with Hatch Medical.

For additional information on this, or other Hatch Medical, L.L.C. products and services, e-mail the company at info@hatchmedical.com. This release and additional news about Hatch Medical can be obtained by visiting the company’s web site at: http://www.hatchmedical.com.

Contact: Hatch Medical, L.L.C. Paul Gianneschi, 770-476-9940 Managing Principal or Steve Hvozda, 404-892-0405 Principal

Source: Hatch Medical, L.L.C.

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