IRVINE, Calif., Nov. 17 /PRNewswire-FirstCall/ -- Endocare, Inc. , an innovative medical device company focused on the development of minimally invasive technologies for tissue and tumor ablation along with vacuum technologies for erectile dysfunction, announced today that it has entered into a long term collaborative agreement with CryoDynamics, Inc., to jointly develop and commercialize a next generation “near-critical nitrogen” cryoablation system for new clinical applications. A near-critical nitrogen system maintains the cryogen in a single phase thereby eliminating the historical functioning challenges of using liquid nitrogen while still benefiting from the strong freezing capabilities of liquid nitrogen.
The agreement includes the licensing of certain patents as well as licensing and royalty fee sharing agreements in which Endocare will garner a majority of fees.
William Nydam, Endocare’s President, said that the next generation near-critical nitrogen technology is a major break through that offers significant advantages over both older nitrogen systems and current Joule Thompson-based argon and nitrous oxide systems.
“Nitrogen is a well-known efficient freezing agent, but it’s not the best solution for most clinical applications,” said Nydam. “However, near-critical nitrogen provides controlled, efficient freezing capability with an abundant, inexpensive cryogen and a streamlined system that has the potential to ablate tissue faster, safer, less expensive and more clinically effective for certain new clinical applications.
“Applying the combined inventions of Endocare and CryoDynamics, we can now deliver a more powerful freeze to difficult to reach and/or sensitive tissues within the body, including those that require a flexible catheter system,” added Nydam. “In addition, near-critical nitrogen can be delivered at lower pressures, increasing the safety profile of the procedure; and it requires less cryogen, decreasing the system management/handling requirements for hospital personnel both during and between procedures.”
About Endocare
Endocare, Inc. -- www.endocare.com -- is an innovative medical device company focused on the development of minimally invasive technologies for tissue and tumor ablation as well as vacuum technologies for erectile dysfunction. Endocare has initially concentrated on developing technologies for the treatment of prostate cancer and believes that its proprietary technologies have broad applications across a number of markets, including the ablation of tumors in the kidney, lung, liver and bone.
Statements contained in this release that are not historical facts are forward-looking statements that involve risks and uncertainties. Among the important factors which could cause actual results to differ materially from those in the forward-looking statements include, but are not limited to, those discussed in “Risk Related to Our Business” in the Company’s Forms 10-K, Forms 10-Q, and other filings with the Securities and Exchange Commission. Such risk factors include, but are not limited to: risks relating to liquidity and the Company’s ability to reach profitability; uncertainty relating to ongoing investigations by governmental agencies; uncertainty regarding the effects of effectuating the proposed reverse stock split, in particular the possibility that the market may react negatively to our effectuation of a reverse stock split; uncertainty regarding market acceptance of the Company’s products; uncertainty of product development and the associated risks related to clinical trials; uncertainty relating to third party reimbursement; ability to convince health care professionals and third party payers of the medical and economic benefits of the Company’s products; difficulty in managing growth; the Company’s limited sales, marketing and manufacturing experience; ability to attract and retain key personnel; ability to secure and protect intellectual property rights relating to the Company’s technology; the rapid pace of technological change in the Company’s industry; fluctuations in the Company’s order levels; and the Company’s successful re-listing on a national stock exchange. The actual results that the Company achieves may differ materially from any forward-looking statements due to such risks and uncertainties. We undertake no obligation to revise, or update publicly, any forward-looking statements for any reason.
Investor Contact: Media Contact: For Additional Information: Matt Clawson Len Hall Craig T. Davenport, CEO Allen & Caron, Inc. Allen & Caron, Inc. William Nydam, President (949) 474-4300 (949) 474-4300 Endocare, Inc. matt@allencaron.comlen@allencaron.com (949) 450-5400 www.allencaron.comwww.allencaron.comwww.endocare.com
Endocare, Inc.
CONTACT: media, Len Hall, len@allencaron.com, or investors, Matt Clawson,matt@allencaron.com, both of Allen & Caron, Inc., +1-949-474-4300, forEndocare, Inc.; or Craig T. Davenport, CEO, or William Nydam, President,both of Endocare, Inc., +1-949-450-5400
Web site: http://www.endocare.com//
