Healthcare Industry News: cPAX
News Release - December 7, 2007
NeuroVasx, Inc. Announces $8.5 Million Private Placement and Completion of cPAX Aneurysm Treatment Study
MAPLE GROVE, Minn., Dec. 7 (HSMN NewsFeed) -- NeuroVasx, Inc. announced today the completion of a private placement of common stock in the amount of $8,500,000 with MJSK of Minneapolis, MN and the Stephens Group of Little Rock, AR. Terms of the financing were not disclosed.The company also announced completion of long term follow up on 20 patients treated with the cPAX Aneurysm Treatment System in a clinical study which was completed in May. The company intends to announce the results of the study at the 2008 International Stoke Conference in February.
"We are very pleased with the results we achieved in our clinical study. The long term follow-up data further supports the clinical effectiveness of cPAX," said Eric Timko, President and CEO of NeuroVasx, Inc. Mr. Timko added, "The company is eager to share the results of our study with the physician community."
Dan Sullivan, Chairman of the Board stated, "The clinical results are a significant milestone for NeuroVasx. We are very pleased with the company's continued progress."
NeuroVasx, Inc. (http://www.neurovasx.com) is a development stage company dedicated to the development of unique catheter and implant technologies to treat acute stroke, aneurysms and other cerebrovascular disorders. Stroke is the third leading cause of death and is the leading cause of adult disability in the United States. The worldwide market potential for stroke treatment devices is estimated to be over $3 billion.
Source: NeuroVasx
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