Healthcare Industry News: Cerecyte
News Release - December 6, 2007
Micrus Endovascular Receives Approval to Market Stretch-Resistant Microcoils in Japan
SAN JOSE, Calif.--(HSMN NewsFeed)--Micrus Endovascular Corporation (Nasdaq:MEND ) today announced receipt of Shonin approval from the Ministry of Health, Labour and Welfare (MHLW) to market in Japan its full line of stretch-resistant microcoils for the endovascular treatment of cerebral aneurysms, including the Cashmere™, Presidio®, HeliPaq® and UltiPaq® stretch-resistant embolic coils. Sales of Micrus stretch-resistant microcoils will be managed by Goodman Co., Ltd., Micrus Endovascular’s exclusive distributor in the Japanese market.“We are very pleased to expand our product offering in Japan where we have already developed a significant presence. Our Micrus bare platinum microcoils are currently used in approximately half of all embolic procedures and, with the approval of our stretch-resistant microcoils, we now have the opportunity to build upon this foundation,” said John Kilcoyne, Micrus Endovascular Chairman and CEO. “We plan to immediately begin shipping stretch-resistant microcoil products to Goodman, which has done an excellent job for us in the Japanese market. Additionally, we continue to work with regulatory officials in Japan to gain approval for our Cerecyte® bioactive microcoils.”
About Micrus Endovascular Corporation
Micrus develops, manufactures and markets both implantable and disposable medical devices used in the treatment of cerebral vascular diseases. Micrus is developing products for the treatment of hemorrhagic and ischemic stroke. Both hemorrhagic and ischemic stroke are significant causes of death worldwide. Micrus product lines consist of endovascular systems that enable a physician to gain access to the brain in a minimally invasive manner through the vessels of the arterial system. Micrus also sells accessory devices and products used in neurovascular procedures. For more information, visit www.micruscorp.com.
Forward-Looking Statements
Micrus, from time to time, may discuss forward-looking information. Except for the historical information contained in this release, all forward-looking statements are predictions by the Company’s management and are subject to various risks and uncertainties that may cause results to differ from management’s current expectations. Such factors include the Company’s dependence upon the continued growth in embolic coiling as a procedure to treat cerebral aneurysms, the Company’s involvement in patent litigation with Boston Scientific Corporation, the Company’s limited operating history and history of significant operating losses, fluctuations in quarterly operating results, which are difficult to predict, the Company’s dependence on developing new products or product enhancements, challenges associated with complying with applicable state, federal and international regulations related to sales of medical devices and governing our relationships with physicians and other consultants, the Company’s ability to obtain regulatory approvals and clearances and the timing of regulatory approvals and clearances for its products, product enhancements or future products, the Company’s ability to compete with large, well-established medical device manufacturers with significant resources and other risks as detailed from time to time in risk factors and other disclosures in the Company’s Annual Report on Form 10-K for the fiscal year ended March 31, 2007, and other filings with the Securities and Exchange Commission. All forward-looking statements in this release represent the Company’s judgment as of the date of this release. The Company disclaims, however, any intent or obligation to update forward-looking statements.
Source: Micrus Endovascular
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