Volcano Corporation Announces Distribution Agreement With AngioScore, Inc. for the AngioSculpt(R) PTCA Scoring Balloon Catheter in Japan
"Not every lesion or heart blockage is the same," commented Scott Huennekens, President and CEO of Volcano. "Physicians have to make a number of difficult decisions as they build a lesion by lesion treatment strategy for their patients. The first step is to identify which blockages require angioplasty or stenting, or a combination of both, versus medical therapy alone. But once the decision has been made to place a stent, the pre-stent preparation, and the post-stent expansion strategies can differ greatly across lesion types as well. This relationship between Volcano and AngioScore now combines two technologies: Visualization with Volcano's intravascular imaging products to build a lesion specific strategy; and tailored therapy with the AngioSculpt Scoring Balloon Catheter to deliver a targeted treatment for that specific type of lesion. This concept of precision-guided therapy using intravascular imaging has already taken hold in Japan where the technique is used in more than 70% of all PCI procedures. Our distribution of the AngioSculpt device now gives us access to both parts of the equation - imaging and therapy."
The AngioSculpt Scoring Balloon Catheter represents the next generation in angioplasty catheters. Its innovative nitinol element provides unique anti-slipping properties while circumferentially dilating plaque, providing a precise and predictable dilatation across a wide range of lesion types. The AngioSculpt provides the versatility and effectiveness of a new technology together with the simplicity and deliverability of a high-performance balloon catheter.
"We are excited about teaming with Volcano, particularly with the Volcano Japan sales organization," stated Thomas Trotter, President and CEO of AngioScore. "Over the past 18 months, Volcano has built one of the largest direct sales organizations in Japan of any company developing intravascular imaging devices. Importantly, Volcano's leadership in education related to disease progression, and their valued presence in the cath lab, will help make the most of their product portfolio, which now includes the AngioSculpt PTCA Scoring Balloon Catheter."
The exclusive, five-year distribution agreement became effective April 1, 2010. Volcano will distribute the entire line of AngioSculpt PTCA Scoring Balloon Catheters and any new, modified or next generation PTCA products.
"Angiography alone is not enough, and Volcano has a broad distribution platform to support that message," added Huennekens. "Building our direct sales organization in Japan has been a successful strategic initiative over the past 18 months, as our team now includes more than 50 direct sales representatives, who are in the field calling on cath labs every day. Our sales channel, complete with seasoned clinical and regulatory personnel, is well-positioned to bring to market our pipeline of new products and complementary distributed products. We suspect that other companies developing interventional cardiology devices for the Japanese market will not only see the value in our precision guidance tools, but will also consider Volcano as a very viable option for distribution of their products."
About Volcano Corporation
Volcano Corporation offers a broad suite of devices designed to facilitate endovascular procedures, enhance the diagnosis of vascular and structural heart disease and guide optimal therapies. The company's intravascular ultrasound (IVUS) product line includes ultrasound consoles that can be integrated directly into virtually any modern cath lab. Volcano IVUS offers unique features, including both single-use digital and rotational IVUS imaging catheters, and advanced functionality options, such as VH® IVUS tissue characterization and ChromaFlo®. Volcano also provides Physiology consoles and single-use pressure and flow guide wires and is developing a line of ultra-high resolution Optical Coherence Tomography (OCT) systems and catheters. Currently, more than 5,000 Volcano IVUS and Physiology systems are installed worldwide, with approximately half of Volcano's revenues coming from outside the United States. Volcano's wholly-owned subsidiary, Axsun Technologies, develops and manufactures optical monitors, lasers and optical engines used in telecommunications, medical imaging, spectroscopy and other industrial applications. For more information, visit the company's website at http://www.volcanocorp.com/.
About AngioScore
AngioScore, Inc. (www.angioscore.com) is a privately funded endovascular company located in Fremont, California.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Any statements in this release regarding Volcano's business that are not historical facts may be considered "forward-looking statements," including statements regarding the potential benefits of the products and procedures described above, market adoption of the company's technology, and the impact of clinical and other technical data. Forward-looking statements are based on management's current preliminary expectations and are subject to risks and uncertainties which may cause Volcano's results to differ materially and adversely from the statements contained herein. Some of the potential risks and uncertainties that could cause actual results to differ from the results predicted are detailed in the company's annual report on Form 10-K and other filings made with the Securities and Exchange Commission. Undue reliance should not be placed on forward-looking statements which speak only as of the date they are made. Volcano undertakes no obligation to update any forward-looking statements to reflect new information, events or circumstances after the date they are made, or to reflect the occurrence of unanticipated events.