Corindus’ Technology Successfully Used in World’s First-in-Human Telerobotic Coronary Intervention

WALTHAM, Mass.--(BUSINESS WIRE)-- Corindus Vascular Robotics, Inc. [NYSE American: CVRS], a leading developer of precision vascular robotics, announces that its CorPath technology was used to conduct the first-in-human (FIH) Telerobotic Intervention Study, December 4 and 5, 2018, in India. This study represents the world’s first percutaneous coronary intervention (PCI) conducted from a remote location outside of the catherization lab. Five patients located at the Apex Heart Institute in Ahmedabad, Gujarat, underwent an elective PCI procedure from a distance of roughly 20 miles (32 km) away. Each procedure was remotely performed by internationally acclaimed physician, Dr. Tejas Patel, Chairman and Chief Interventional Cardiologist of the Apex Heart Institute, from inside the Swaminarayan Akshardham temple located in Gandhinagar. His partner, Dr. Sanjay Shah, was in the room with the patient at the Apex Heart Institute. The success of this study paves the way for large-scale, long-distance telerobotic platforms across the globe.

“The first in human cases of remote robotic PCI represent a landmark event for interventional medicine,” stated Dr. Patel. “The application of telerobotics in India has the potential to impact a significant number of lives by providing access to care that may not otherwise have been possible. For the first time in cardiology’s history, India will shine for this ground-breaking innovation, and I am honored to be a part of this historic occasion.”

Cardiovascular disease, including stroke, is the number one cause of death worldwide resulting in nearly 18 million deaths per year. Geographic barriers, socioeconomic status and a rapidly shrinking number of skilled specialists significantly hinder patient access to timely, specialized cardiovascular care. This is especially of concern during highly emergent medical events, such as heart attack and stroke, where ideally treatment is received in as little as 90 minutes or within 24 hours, respectively, to avoid death or permanent disability.

To improve patient outcomes, Corindus has pioneered the world’s first remote telerobotic interventional platform to deliver highly specialized and timely cardiovascular care to underserved patient populations with geographic barriers to treatment. Following the successful FIH telerobotic coronary stenting cases performed in India, the company plans to begin commercial product development for use of the CorPath System in remote interventions and expand the company’s robotic platform to address stroke care.

Mark Toland, President and Chief Executive Officer of Corindus, stated, “Cardiovascular disease, including stroke, is the world’s most significant and undertreated clinical problem due to limited access to specialized, timely medical care. As a result of existing barriers to care, including increased global poverty and a declining number of trained specialists, only a fraction of patients worldwide receives life-saving treatment, resulting in substantial death or disability. We anticipate that our technology will revolutionize cardiovascular disease treatment by providing specialized and timely medical care to anyone, anywhere.”

In September 2018, at the Transcatheter Cardiovascular Therapeutics (TCT) Conference in San Diego, the first live transmission of a remote robotic demonstration was streamed from Mayo Clinic using CorPath GRX with developmental remote technology in a porcine model. Recently the Mayo Clinic received a multi-year $3.3 million grant from The Leona M. and Harry B. Helmsley Charitable Trust to support exploring the feasibility and practicality of using remote robotic technology for cardiac interventions. Mr. Walter Panzirer, trustee of the Helmsley Charitable Trust, was in attendance for the FIH telerobotic study in India. “We are excited to see the next step successfully completed, which demonstrates cardiologists can safely operate remotely on patients,” said Panzirer. “This gets us one step closer to realizing our vision that rural populations can get time-sensitive cardiac interventions sooner, ultimately saving lives.”

About Corindus Vascular Robotics, Inc.

Corindus Vascular Robotics, Inc. is a global technology leader in robotic-assisted vascular interventions. The company’s CorPath^® System is the first FDA-cleared medical device to bring robotic precision to percutaneous coronary and vascular procedures. During the procedure, the interventional cardiologist sits at a radiation-shielded workstation to advance guide catheters, stents, and guidewires with millimeter-by-millimeter precision. The workstation allows the physician greater control and the freedom from wearing heavy lead protective equipment that causes musculoskeletal injuries. CorPath GRX is the second generation robotic-assisted technology offering enhancements to the platform by adding important key upgrades that increase precision, improve workflow, and extend the capabilities and range of procedures that can be performed robotically. With the CorPath System, Corindus Vascular Robotics brings robotic precision to interventional procedures to help optimize clinical outcomes and minimize the costs associated with complications of improper stent placement during manual procedures. For additional information, visit www.corindus.com, and follow @CorindusInc.

About Dr. Tejas Patel and Apex Heart Institute

Dr. Tejas Patel is Chief Interventional Cardiologist and Chairman of Apex Heart Institute. He has been awarded Padma Shri by the Government of India for his contribution in coronary intervention. Apex Heart Institute is a center of excellence for cardiac ailments with two ultra-modern cath labs and two state of the art cardiac surgical theatres. It has 85 beds comprised of 3 medical ICUs, 2 surgical ICUs, 1 HDU, a general ward and rooms in various categories. The institution has an outstanding team of doctors, who ensure delivery of quality care with highest level of expertise. At Apex Heart Institute, well-trained paramedical staff, world class infrastructure, efficient systems and processes ensure effective services aiding to speedy recoveries. The institution has instituted TRICO (Transradial Intervention Course) by leveraging the knowledge and practices of world renowned interventional cardiologists, which today is the largest and the most popular radial course in the world. https://www.apexheart.in/

About Swaminarayan Akshardham:

Swaminarayan Akshardham is India’s iconic temple that celebrates ancient art and architecture, culture and spirituality, wisdom and values. Inspired and created by HH Pramukh Swami Maharaj in 1992, the Cultural Complex is spread over 23 acres and was built by more than 8 million volunteer hours of selfless service. Visited by more than 57 million visitors from 127 countries across the world, the Swaminarayan Akshardham complex consists of an intricately carved inner-sanctum Mandir, exhibition halls, Abhishek Mandapam and one of its kind Sat-Chit-Anand water show. It is overseen by HH Mahant Swami Maharaj, the present spiritual leader of BAPS Swaminarayan Sanstha, which is an international socio-spiritual charitable NGO, affiliated to the United Nations, that serves society through over 160 humanitarian services at its 1,200 temples and 4,000 centres.

Forward Looking Statements

Statements made in this release that are not statements of historical or current facts are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements may involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of Corindus to be materially different from historical results or from any future results or projections expressed or implied by such forward-looking statements. Accordingly, readers should not place undue reliance on any forward-looking statements. In addition to statements that explicitly describe such risks and uncertainties, readers are urged to consider statements in the conditional or future tenses or that includes terms such as “believes,” “belief,” “expects,” “estimates,” “intends,” “anticipates” or “plans” to be uncertain and forward-looking. Forward-looking statements may include comments as to Corindus’ beliefs and expectations as to future events and trends affecting its business and are necessarily subject to uncertainties, many of which are outside Corindus’ control.

Examples of such statements include statements regarding or such as:

• the ability of the CorPath telerobotic interventional platform to deliver timely, specialized cardiovascular treatment to remote, underserved patient populations across the globe;
• the success of the FIH studies paving the way for large-scale, long distance telerobotic platforms across the globe;
• the advancement of our remote vascular robotic technology;
• plans to begin commercial development for the system;
• the expansion of Corindus’ interventional platform into stroke treatment; and
• the potential for remote vascular robotic technology to revolutionize treatment times for patients suffering from stroke and heart attacks.

Important factors that could cause actual results to differ materially from those indicated by such forward-looking statements are described in the sections titled “Risk Factors” in the Company’s filings with the Securities and Exchange Commission, including its most recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q, as well as reports on Form 8-K, including, but not limited to the following: our ability to expand our technology platform and achieve the advances necessary for telestenting and remote procedures, including in humans; our ability to expand our technology platform for use in other segments of the vascular intervention market, including neurointerventional and other more complex cardiac interventions; obtaining necessary regulatory approvals for the use on humans and marketing of our products in the United States and in other countries; risks associated with market acceptance; our ability to enforce our intellectual property rights; our need for additional funds to support our operations; factors relating to engineering, regulatory, manufacturing, sales and customer service challenges; and potential safety and regulatory issues that could slow or suspend our sales. Forward looking statements speak only as of the date they are made. Corindus undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise that occur after that date. More information is available on Corindus’ website at http://www.corindus.com.

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