TriVascular, Inc. Wins FDA Approval Of CustomSeal™ Technology For The Ovation Prime® System
SANTA ROSA, Calif., Oct. 15, 2014 (GLOBE NEWSWIRE) -- TriVascular Technologies, Inc. (Nasdaq:TRIV) announced today that the U.S. Food and Drug Administration (FDA) has approved CustomSeal Technology for the Ovation Prime System. With the Ovation Prime endograft system, physicians create a customized seal by filling the conformable O-rings with the CustomSeal polymer, effectively completing the last step of the manufacturing process in vivo. The CustomSeal technology was designed with the same biocompatible components as the Ovation Prime polymer, but now enables faster procedure times through a 30% reduction in cure time. First cases with the new sealing technology were completed by Stuart A. Harlin, MD, FACS, President, Coastal Vascular and Interventional PLLC in Pensacola, Florida and Zvonimir Krajcer, MD, FACC, Co-Director, Peripheral Vascular Disease Service at Texas Heart Institute in Houston, Texas.
"I was impressed with the performance of the CustomSeal Technology," commented Dr. Harlin. "The decrease in the polymer time provides an opportunity for reduced operative time and anesthesia exposure for our patients. Furthermore, the ability to offer our patients a customized and truly minimally invasive endovascular solution is of great value to our practice."
"We are committed to rapidly delivering innovation that addresses relevant unmet clinical needs," said Christopher G. Chavez, Chairman, CEO and President of TriVascular. "The approval of the CustomSeal Technology is part of a strong cadence of product innovations designed to expand EVAR access to more patients and improve EVAR for all patients."
The Ovation® platform has been used in the successful treatment of approximately 5,000 patients worldwide. Excellent clinical results have been reported from both the Ovation global pivotal trial and a 501-patient European Post-Market Registry. Earlier this year, CustomSeal technology received CE Mark clearance and over 250 cases have been performed with CustomSeal polymer in Europe. The Ovation Prime system is available for sale in over 25 countries around the world.
About TriVascular Technologies, Inc. - TriVascular is a medical device company developing and commercializing innovative technologies to significantly advance minimally invasive treatment of abdominal aortic aneurysms. The company manufactures the Ovation Prime Abdominal Stent Graft System, the lowest profile FDA-approved EVAR system, which utilizes a novel, polymer-based sealing mechanism. TriVascular is based in Santa Rosa, California.
Forward-Looking Statements
In addition to the historical information, this press release contains forward-looking statements with respect to our business, the Ovation system, our innovative sealing ring technology and our ability to expand EVAR treatment option to a broader population of patients with AAA disease. These forward-looking statements are based upon information that is currently available to us or our current expectations, speak only as of the date hereof, and are subject to numerous risks and uncertainties, including our ability to successfully commercialize our products; continued market acceptance of our endovascular aortic repair systems; our ability to manufacture our endovascular systems to meet demand; the level and availability of third party payor reimbursement for our products, our ability to effectively manage our anticipated growth; our ability to protect our intellectual property rights and proprietary technologies; our ability to operate our business without infringing the intellectual property rights and proprietary technology of third parties; our ability to develop new or complementary technologies; the regulatory requirements applicable to us and our competitors; competition in our industry; additional capital and credit availability, our ability to attract and retain qualified personnel; product liability claims; and general economic and worldwide business conditions. These factors, together with those that are described in greater detail in our filings with the SEC, including our Quarterly Reports on Form 10-Q, may cause our actual results, performance or achievements to differ materially and adversely from those anticipated or implied by our forward-looking statements. We expressly disclaim any obligation, except as required by law, or undertaking to update or revise any such forward-looking statements.
CONTACT: Company Contact TriVascular Technologies, Inc Michael Kramer Chief Financial Officer 707-543-8709 mkramer@trivascular.com Media Contact: TriVascular Technologies, Inc Vivek K. Jayaraman VP, Global Sales & Marketing 707-543-8804 Investor Relations Contact: Westwicke Partners Jamar Ismail 415-513-1280 Jamar.ismail@westwicke.com