FOOTHILL RANCH, Calif., Nov. 7 /PRNewswire-FirstCall/ -- Cardiogenesis Corporation , the market leader in surgical products and accessories used in angina-relieving Transmyocardial Revascularization (TMR) and Percutaneous Myocardial Channeling (PMC) procedures, today announced the addition of Gary S. Allen, M.D. of Orlando, Florida as a member of the Company’s Board of Directors.
Chairman and CEO Michael J. Quinn commented, “Dr. Allen is a talented innovator who has a keen eye for new technology relevant to the clinical and technical challenges facing the cardiothoracic surgeon in today. Our Board unanimously supported the addition of Dr. Allen to the Board based upon his strong reputation amongst the clinical and research communities.”
Mr. Quinn added, “Our interest in adding Dr. Allen’s experience and talent to our board is to make certain that we are providing relevant cutting edge solutions to the clinical challenges facing cardiothoracic surgeons today, and into the future. His training and experience compliment the other physicians on our Board, and will enhance our Company’s focus and responsiveness to the cardiothoracic community. The knowledge he has gained about our Company while serving as the Principal Investigator of our PEARL Thoracoscopic TMR study will allow him to contribute in this important role immediately.”
Dr. Allen is affiliated with Cardiovascular Surgeons, P.A. of Orlando, Florida and serves as the Chief of Cardiothoracic Surgery at Osceola Regional Medical Center in Kissimmee, Florida. He earned his Bachelor’s Degree in Biochemistry from Skidmore College, his Medical Degree from Albany Medical College and completed his general surgery training and residency at the University of Texas Healthcare Sciences Center in Houston, Texas. Dr. Allen completed an NIH granted Post Doctoral fellowship at the University of Utah Artificial Heart Research Laboratory) and his cardiothoracic surgery fellowship at the University of Utah, Salt Lake City. His professional affiliations include the Society of Thoracic Surgeons and the Florida Society of Thoracic Surgeons.
Dr. Allen has extensive experience in the cardiovascular surgery device development space where he was worked with many industry leaders (i.e. Boston Scientific, ESTECH, and Guidant) in accelerating product evolution and market development. His research efforts (minimally invasive surgery, arrhythmia surgery and OPCAB) are focused on advancing cardiac surgery’s position in the competitive cardiovascular disease market. He has trained more than 100 surgeons in advanced surgical techniques and is a regular contributor to peer review journals and national scientific meetings.
Dr. Allen stated, “I am familiar with the clinical efficacy of the Cardiogenesis technology in the treatment of patients with complex advanced coronary artery disease. I have utilized the technology in patient care for several years, most recently through the PEARL Thoracoscopic technique. I believe that the Company’s proprietary Ho:YAG delivery systems offer exciting new potential applications, beginning with the minimally invasive surgical treatment of chronic refractory angina. I am committed to helping the Company advance the understanding and awareness of this important technology, as well as to quickly assess and pursue important new applications.”
“We are fortunate to have Dr. Allen joining our Board at this time,” commented Mr. Quinn. “He has demonstrated his commitment to innovation in advancing patient care through his active leadership role with the PEARL Thoracoscopic TMR study. In that clinical role he asserted himself to help us rapidly advance the device design and clinical study protocol in support of the Company goals. As a member of the Board of Directors, Dr. Allen can now contribute towards the Company’s goal of achieving consistent revenue growth and profitability.”
About Cardiogenesis Corporation
Cardiogenesis is a medical device Company specializing in the treatment of cardiovascular disease and is a leader in devices that stimulate cardiac angiogenesis. The Company’s market leading Holmium: YAG laser system and disposable fiber-optic accessories are used to perform a FDA-cleared surgical procedure known as Transmyocardial Revascularization (TMR) to treat patients suffering from angina. Surgical products and accessories for the Cardiogenesis TMR procedure, which are marketed in the U.S. and around the world, have been shown to reduce angina and improve the quality of life in patients with coronary artery disease. Surgical products and accessories for the Company’s minimally invasive Percutaneous Myocardial Channeling (PMC) procedure are currently being marketed in Europe and other international markets.
For more information on the Company and its products, please visit the Cardiogenesis company web site at www.cardiogenesis.com or the patient and physician website at www.heartofnewlife.com. heartofnewlife.com is a resource for patients and physicians which provides medical information on TMR.
With the exception of historical information, the statements set forth above include forward-looking statements. Any forward-looking statements in this news release related to the Company’s sales, profitability, the adoption of its technology and products and FDA clearances are based on current expectations and beliefs and are subject to numerous risks and uncertainties, many of which are outside the Company’s control, that could cause actual results to differ materially. Factors that could affect the accuracy of these forward-looking statements include, but are not limited to: any inability by the Company to sustain profitable operations or obtain additional financing on favorable terms if and when needed; any failure to obtain required regulatory approvals; failure of the medical community to expand its acceptance of TMR or PMC procedures; possible adverse governmental rulings or regulations, including any FDA regulations or rulings; the Company’s ability to comply with international and domestic regulatory requirements; possible adverse Medicare or other third-party reimbursement policies or adverse changes in those policies; any inability by the Company to ship product on a timely basis; the Company’s ability to manage its growth; adverse economic developments that could adversely affect the market for our products or our ability to raise needed financing; actions by our competitors; and the Company’s ability to protect its intellectual property. Other factors that could cause Cardiogenesis’ actual results to differ materially are discussed in the “Risk Factors” section of the Company’s Annual Report on Form 10-K for the year ended December 31, 2004, the Company’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2005, and the Company’s other recent SEC filings. The Company disclaims any obligation to update any forward-looking statements as a result of developments occurring after the date of this press release.
Cardiogenesis Corporation
CONTACT: Michael J. Quinn, Chairman and CEO, +1-714-649-5050, or ChristineG. Ocampo, VP, CFO, +1-714-649-5066, both of Cardiogenesis Corporation