Michael Adams, CardioTech's Vice President of Regulatory Affairs and Business Development, stated: "We are excited about the $1.5 billion potential worldwide market opportunity to leverage our existing technology and proprietary coating to introduce a new product to treat congestive heart failure patients."
Congestive heart failure is the primary cause of the inability to eliminate excess fluid from the body. A weakened heart can lead to a build up of excess fluid which accumulates in various organs and extremities, causing shortness of breath, swelling of the extremities and reduced capacity of vital organs. Current therapy for patients with congestive heart failure requires the use of oral and intravenous use of diuretics. Some patients do not tolerate diuretics, are excluded from using diuretics, or become intolerant of diuretics. These patients require that fluid be removed from their blood in a hospital procedure that requires special equipment to remove the fluid similar to dialysis.
About CardioTech:
CardioTech International, Inc. is a medical device company that develops, manufactures and sells advanced products for the treatment of cardiovascular and other diseases. CardioTech is currently developing new products that address annual overall worldwide markets exceeding $1 billion. CardioPass(TM) is CardioTech's proprietary, synthetic coronary artery bypass graft. The Company is partnering with CorNova to develop a drug-eluting stent.
CardioTech's corporate headquarters are located in Wilmington, Massachusetts, with operations in California and Minnesota. The Company generates revenues from sales of advanced medical devices and disposables used during cardiopulmonary bypass procedures, as well as from contracted product design and development services. More information about CardioTech is available at its website: http://www.cardiotech-inc.com
CardioTech International believes that this press release contains forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are subject to risks and uncertainties. Such statements are based on management's current expectations and are subject to facts that could cause results to differ materially from the forward-looking statements. For further information you are encouraged to review Implant Sciences' filings with the Securities and Exchange Commission, including its Quarterly Reports on Form 10-Q for the periods ended June 30, 2005, September 30, 2005 and December 31, 2005. The Company assumes no obligation to update the information contained in this press release.
For Further Information: Company Contact: Eric G. Walters Vice President & Chief Financial Officer CardioTech International, Inc. 978-657-0075 general-info@cardiotech-inc.com
Investor Relations: Sylvia Dresner Senior Vice President VMW Corporate & Investor Relations 212-616-6161 info@vmwcom.com
Source: CardioTech International, Inc.
