LAKE FOREST, CA--(Marketwire - September 27, 2011) - TRIMEDYNE, INC. (OTCQB: TMED) (OTCBB: TMED) today announced it has retained B. Riley & Co., LLC to explore opportunities for its 90% owned subsidiary, Cardiodyne, Inc., which is developing a patented, fully automated Transmyocardial Laser Revascularization or "TMLR" System, which is designed to treat heart attack victims.
Cardiodyne's TMLR procedure is expected to take about two minutes and may be performed during coronary artery bypass surgery or in a minimally-invasive, mini-thoracotomy procedure. An estimated 700,000 heart attack victims reach a hospital alive each year in the United States.
Cardiodyne's patented TMLR System uses an 80 watt Holmium laser and is designed to make channels in the heart wall in the area of the heart being deprived of oxygen, due to the blockage of a coronary artery. Each channel is designed to be precisely made in one-half second or less, synchronized with the patient's ECG or electrocardiogram. No application for approval of the TMLR System has yet been filed with the FDA.
Holmium laser energy creates an acoustic shock wave effect, which is said to release naturally occurring arteriogenic and angiogenic growth factors stored in the heart's wall, causing existing arteries to grow and new arteries and capillaries to form, restoring blood flow to the oxygen deprived area of the heart wall.
Trimedyne also owns a U.S. Patent on a unique, adjustable pulse width laser, which has been cleared for sale by the FDA. This laser has the potential to revolutionize how surgery is performed. It is designed to produce a precise effect on tissue, causing collagen, a constituent of almost all tissues, to melt and become a natural glue. This unique laser has the potential to weld incisions in tissues or blood vessels together as an adjunct (assist) to stitching, and might eliminate stitching altogether in a wide variety of surgical procedures, possibly shortening the procedures and hastening healing.
Trimedyne also owns two U.S. Patents covering two side firing devices which are designed to treat mitral valve prolapse (leakage) in a 1-2 minute, minimally invasive procedure during bypass surgery or in a balloon angioplasty-like procedure. These side firing devices are designed to treat the leakage by delivering Holmium laser energy to shrink the chordae tendonae (tendons) which close the leaflets of the mitral valve, as well as to shrink the annulus or base of the valve. No application for approval of these devices has yet been filed with the FDA.
An estimated 125,000 mitral valve repairs or replacements are performed each year in the United States in "open chest" surgical procedures, in which the faulty valve is replaced by an animal tissue valve or a ring is implanted around the annulus (base) of the valve to tighten it. These surgical procedures are costly to Medicare and entail the risks of mortality, bleeding and infections, and require an extended hospital stay and recovery period.
B. Riley & Co., LLC is a leading full-service investment bank that provides a full array of corporate finance, research, sales, trading and otcqx dad services to corporate, institutional and high net worth clients. Headquartered in Los Angeles, with offices in San Francisco, New York, Philadelphia and Newport Beach, the firm is recognized for its distinguished Equity Research. Their investment banking services include merger and acquisitions advisory to public and private companies, initial and secondary public offerings, and institutional private placements. Engaged by both companies and investors, their Corporate Governance Advisory Services Group helps maximize value for shareholders.
Trimedyne manufactures proprietary Holmium lasers and patented fiber optic laser devices for vaporizing the prostate to treat BPH, vaporizing excess spinal disc tissue to treat herniated or ruptured discs and in a variety of other, minimally invasive procedures, many of which are performed on an outpatient basis at substantially less cost than conventional surgery. For product, press release, financial, SEC Reports and other information, please visit Trimedyne's website, http://www.trimedyne.com.
"Safe Harbor" Statement Under the Private Securities Litigation Reform Act:
Statements in this news release may contain forward-looking statements within the meaning of Section 27A of the U.S. Securities Act of 1933 and Section 21E of the Securities and Exchange Act of 1934, including words like "expect," "may," "could" and others. Such statements may involve various risks and uncertainties, some of which may be discussed in the Company's current Form 10-K Report and subsequently filed SEC reports. There is no assurance such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements.
