WILMINGTON, Mass., Sept. 12 /PRNewswire/ -- OmniSonics Medical Technologies, Inc., a developer of advanced medical devices for use in the treatment of vascular disease, announced today that it has entered into a licensing and development agreement with Boston Scientific Corporation for technology to treat thromboembolic acute ischemic stroke. Treatment of this type of stroke represents a significant unmet clinical need, as only 10 percent of the more than 600,000 stroke patients in the United States receive therapy each year.
Under the terms of the agreement, the two companies will work jointly to develop an application of OmniSonics' OmniWave(TM) technology for the treatment of acute ischemic stroke. The OmniWave technology, which delivers low-power ultrasonic energy to remove thrombus (or a blood clot), recently launched in the U.S. for the treatment of clots in the peripheral vasculature. Boston Scientific will provide funding based on the achievement of development milestones and has an option to acquire the technology as well as exclusive rights to the intellectual property for the treatment of acute stroke.
"OmniSonics is excited to enter into this agreement with Boston Scientific," said Richard Ganz, President and CEO of OmniSonics Medical Technologies. "We are hopeful our OmniWave technology will prove to be an effective option for patients suffering from acute stroke."
About OmniSonics Medical Technologies, Inc.
OmniSonics Medical Technologies, Inc., based in Wilmington, MA, is a venture-backed medical device company focused on developing breakthrough products for the treatment of vascular disease. The Company's products are based on its patented OmniWave technology, the first technology capable of delivering low-power ultrasonic energy around the active length of a small diameter wire in a diseased blood vessel. OmniWave technology is designed to have broad applications in vascular disease.
CONTACT: Len Farris of OmniSonics Medical Technologies, Inc.,
+1-978-657-9980 ext. 501, lfarris@omnisonics.com
Web site: http://www.omnisonics.com//
