FRAMINGHAM, Mass. and SYDNEY, Australia, May 5 /PRNewswire/ -- HeartWare Limited today announced that it had received conditional approval from the United States Food and Drug Administration (FDA) of an Investigational Device Exemption (IDE) for its lead product, the HeartWare(R) Left Ventricular Assist System (LVAS).
The granting of conditional IDE approval by the FDA enables the Company to immediately commence its U.S. clinical trial for the HeartWare(R) LVAS for use as a bridge to cardiac transplant in patients suffering from end-stage heart failure. HeartWare’s Bridge-to-Transplant (BTT) clinical trial protocol incorporates a number of novel elements, the key aspects of which are as follows:
“Receipt of this conditional approval of an IDE represents one of the most significant milestones since HeartWare’s inception,” said HeartWare Chief Executive Officer and President, Doug Godshall.
“We believe that the HeartWare(R) LVAS is poised to make a significant impact on the U.S. mechanical circulatory support market. This is reinforced by the high level of interest we are receiving from U.S. physicians, many of whom already anticipate the potential clinical advantages associated with our device’s small size, pericardial placement and advanced peripheral systems. We are confident that these advantages, combined with the innovative structure of our trial and the FDA’s consent to immediate patient discharge, will help encourage significant clinician support of the study.
“It is also pleasing that we are now within a month or two of generating our first revenue. As previously indicated, we expect to be able to charge for our system during the course of our U.S. clinical trial. We expect to supplement this revenue through commercial sales in Europe once we receive CE Mark later this year.”
HeartWare will commence training for our initial U.S. clinical sites later this week and, in parallel, will seek investigational review board (IRB) approval for these sites while working towards satisfying the few conditions to our IDE. The Company expects to shortly release details regarding our initial sites and lead clinical investigators.
About HeartWare
HeartWare develops and manufactures miniaturized implantable heart pumps, or Left Ventricular Assist Devices (LVADs), designed to treat patients suffering from advanced heart failure. The Company is developing the industry’s smaller and less invasive pumps, which it believes will be the key to unlocking the potential of a large and underserved market. The HeartWare(R) LVAD is a full-output pump designed to be implanted in the chest, avoiding the abdominal surgery generally required to implant competing devices. The pump is currently the subject of an international clinical trial involving five investigational centers in Europe and Australia. A clinical trial in the U.S. is expected to commence shortly following the receipt of conditional IDE approval in May 2008.
CONTACT: Howard Leibman, Director Corporate Development of HeartWare
Limited, +61 2 9238 2064, howard.leibman@heartware.com.au; or U.S. Investor
Relations, Matt Clawson, Partner of Allen & Caron, Inc., +1-949-474-4300,
matt@allencaron.com, for HeartWare Limited
Web site: http://www.heartware.com/
http://www.heartware.com.au/
