Healthcare Industry News: Bard
News Release - April 19, 2006
CardioTech Strengthens Executive TeamMichael Adams to Lead Clinical Evaluation Efforts of CardioPass
WILMINGTON, Mass., April 19 (HSMN NewsFeed) -- CardioTech International, Inc. (Amex: CTE ), a developer and manufacturer of advanced medical devices treating advanced cardiovascular disease, today announced that Michael F. Adams will be re-joining the company as Vice President of Regulatory Affairs and Business Development. Mr. Adams has been a Member of the Board of Directors of CardioTech International since 1999. As a member of senior management, Mr. Adams will be responsible for all Regulatory, Clinical and Quality activities of the Company. Additionally, Mr. Adams will coordinate the new business development activities for the corporation.
Mr. Adams was instrumental in obtaining European and American regulatory approvals of several Class III devices during his twenty years in the medical device industry. Mr. Adams led a team that successfully executed international, multicenter clinical studies for vascular grafts leading to European approvals for CardioTech International Ltd., a previous affiliate of the company.
Previously, Mr. Adams was the Vice President of New Ventures for PLC Medical Systems where he was responsible for all regulatory and product development activities. Prior to that Mr. Adams held executive positions with CardioTech International, Inc., Cytyc Corporation, CR Bard, Millipore and E I DuPont.
Michael Szycher, Ph.D., Chairman and CEO of CardioTech, stated, "We are delighted to have Michael as part of the management team. We believe that Michael will successfully lead our efforts to obtain a CE Mark for the CardioPass synthetic coronary artery bypass graft and begin the process for obtaining an Investigational Device Exemption (IDE) in the United States."
Mr. Adams stated, "I am very excited about the opportunity here at CardioTech. I have followed the technical progress of the CardioPass program, and look forward to gaining the necessary regulatory approvals to bring this important product to the market."
CardioTech International, Inc. is a medical device company that develops, manufactures and sells advanced products to surgically treat cardiovascular disease. The company is currently developing new products that address annual worldwide markets exceeding $1 billion. It is conducting human clinical trials with CardioPass, its proprietary, synthetic coronary artery bypass graft, and has partnered to develop a drug-eluting stent. The company's corporate headquarters are located in Wilmington, Massachusetts, with operations in California and Minnesota. The company generates revenues from sales of advanced medical devices and disposables used during cardiopulmonary bypass procedures, as well as from contract manufacturing. More information can be found about CardioTech at its website: http://www.cardiotech-inc.com
CardioTech believes that this release contains forward-looking statements that are subject to risks and uncertainties. Such statements are based on management's current expectations and are subject to facts that could cause results to differ materially from the forward-looking statements. For further information you are encouraged to review CardioTech's filings with the Securities and Exchange Commission.
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