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Redwood City, CA -- October 2008
Genesis Medical Interventional, Inc. (GMI) has received its first payment from Micrus Endovascular Corporation (Nasdaq: MEND ) from a license agreement executed earlier this year, granting Micrus the rights to Genesis' F.A.S.T.™ Funnel Catheter™ and clot retrieval system for the treatment of ischemic stroke.
"We are excited about how our relationship with Micrus has progressed since the development agreement was initiated only a few months ago. Micrus is an excellent partner and Genesis is committed to advancing our Proximal Occlusion Funnel Catheter for the treatment of this important disease," said William Dubrul, GMI Chairman and Chief Executive Officer. "We believe our technology offers a superior and simple Proximal Occlusion solution that enhances patient safety and comfort. The F.A.S.T. Funnel Catheter has a proven track record in both peripheral and coronary clinical cases completed with excellent results and we expect the same for ischemic stroke."
"2008 has been a remarkable year for Genesis with the acceptance of our Proximal Occlusion Technology in major medical markets. Additionally, we have been accepted into the Emerging Technologies Exhibit area of this year's TCT October 14-16th in Washington, D.C. and it has just been announced that the PREPARE trial results will be presented in the Late Breaking Trials there. The PREPARE trial is an AMI (Acute Myocardial Infarction) trial using Proximal Occlusion as embolic protection during stenting. "Several randomized trials using distal embolic protection have failed to show any advantage during AMI intervention, but this is the first randomized trial using Proximal Occlusion and we are cautiously optimistic and excited about these results. It will really put Proximal Occlusion and Genesis on the map," said Dubrul.
About the F.A.S.T Funnel Catheter System
The Genesis F.A.S.T. Funnel Catheter System is a line of innovative medical devices comprised of a funnel deployed at the distal end of the catheter through which a physician can deploy a proprietary clot retrieval system with an umbrella or parachute-like device. This novel design harnesses a patient's blood pressure to provide the sealing force for occlusion. Clots and other debris are removed and the device is then collapsed and removed from the patient.
About Genesis Medical Interventional, Inc.
Genesis Medical Interventional, Inc. is a privately held company developing products, based on its minimally invasive Funnel Catheter platform technologies for improved Proximal Occlusion Embolic Protection and Thrombectomy in the vascular system. The company believes its technologies will have applications in many major medical markets. For more information, visit www.genesismedical.net.
About Micrus Endovascular Corporation
Micrus develops, manufactures and markets both implantable and disposable medical devices used in the treatment of cerebral vascular diseases. Micrus products are used by interventional neuroradiologists and neurosurgeons primarily to treat cerebral aneurysms responsible for hemorrhagic stroke, a significant cause of death worldwide. The Micrus product line enables physicians to gain access to the brain in a minimally invasive manner through the vessels of the circulatory system. Micrus' proprietary, three-dimensional microcoils are unique in that they automatically deploy within the aneurysm, forming a scaffold that conforms to a wide diversity of aneurysm shapes and sizes. Micrus also sells accessory devices and products used in conjunction with its microcoils. For more information, visit www.micruscorp.com.
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