COLORADO SPRINGS, Colo., Oct. 4 /PRNewswire-FirstCall/ -- Spectranetics Corporation announced today that it has received clearance from the Food and Drug Administration (FDA) to market its TURBO elite(TM) product line for the treatment of blockages within leg arteries.
This new product line is designed for improved pushability, trackability and ablation capability as a result of an improved outer jacket and inner guidewire lumen and additional laser fibers in most sizes. Further, it incorporates all of the features of the TURBO product line, including 80 hertz laser repetition rates, "continuous on" lasing and a hydrophilic coating. TURBO elite products will be launched in a limited market release in the fourth quarter of 2006, with full commercialization expected in early 2007.
"The TURBO elite product line demonstrates our commitment to continuing innovation within the large and growing peripheral arterial disease market. It includes a number of physician-sponsored product improvements and represents our third generation of peripheral laser catheters," said John G. Schulte, Spectranetics' president and chief executive officer.
About Spectranetics
Spectranetics is a medical device company that develops, manufactures and markets single-use medical devices used in minimally invasive surgical procedures within the cardiovascular system in conjunction with its proprietary excimer laser system. Excimer laser technology delivers relatively cool ultraviolet energy to ablate or remove arterial blockages including plaque, calcium and thrombus. We believe our CVX-300(R) excimer laser is the only system approved in the United States, Europe, Japan, and Canada for use in multiple, minimally invasive cardiovascular procedures. These procedures include atherectomy, which is a procedure to remove arterial blockages in the peripheral or coronary vasculature, and the removal of infected, defective or abandoned cardiac lead wires from patients with pacemakers or implantable cardiac defibrillators, or ICDs, which are electronic devices that regulate the heartbeat.
Safe Harbor Statement
This news release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such statements are based on current assumptions that involve risks and uncertainties that could cause actual outcomes and results to differ materially. These risks and uncertainties may include increasing price and product competition, increased pressure on expense levels resulting from expanded marketing and clinical activities, uncertain success of the Company's strategic direction, dependence on new product development, intellectual property claims of third parties, availability of inventory from suppliers, the receipt of FDA approval to market new products or applications and the timeliness of any approvals, the potential size of market opportunities associated with new products, market acceptance of new products or applications, product defects, price volatility due to the initiation or cessation of coverage, or changes in ratings, by securities analysts. For a further list and description of such risks and uncertainties that could cause the actual results, performance or achievements of the Company to be materially different from any anticipated results, performance or achievements, please see the Company's previously filed SEC reports. Spectranetics disclaims any intention or obligation to update or revise any financial projections or forward-looking statements, whether as a result of new information, future events or otherwise.
Spectranetics and CVX-300 are registered trademarks of The Spectranetics Corporation.
COMPANY CONTACT: INVESTOR & MEDIA CONTACTS: Spectranetics Corporation Lippert/Heilshorn & Associates, Inc. Guy Childs, Chief Financial Officer Bruce Voss (719) 633-8333 Don Markley (310) 691-7100 www.spectranetics.comwww.lhai.com
Spectranetics CorporationCONTACT: Guy Childs, Chief Financial Officer of Spectranetics Corporation,+1-719-633-8333; or Bruce Voss or Don Markley, both of Lippert/Heilshorn &Associates, Inc., +1-310-691-7100, for Spectranetics Corporation
Web site: http://www.spectranetics.com//
