Healthcare Industry News: Cardima
News Release - October 8, 2008
Cardima Appoints Japan Lifeline as Its Distribution Partner in Japan for PATHFINDER Diagnostic Line of Catheters
FREMONT, CA--(Healthcare Sales & Marketing Network)--Oct 8, 2008 -- Cardima, Inc. (OTC BB:CADM.OB ), a medical device company focused on the treatment of Atrial Fibrillation ("AF") and manufacturer of the Cardima Surgical Ablation System, the EP Ablation System, and the PATHFINDER® family of diagnostic microcatheters, has appointed Japan Lifeline Co. Ltd. ("Japan Lifeline") as its new distributor in Japan. Cardima and Japan Lifeline have already filed a "Shonin Application" to obtain the necessary regulatory approval to re-start PATHFINDER sales in the Japanese market.Japan Lifeline has an extensive marketing network in the field of Electrophysiology and Interventional Cardiology. They are an ideal marketing partner to represent Cardima's diagnostic products in the Japanese market. Japan Lifeline has been in business since 1981 with approximately USD $190 Million in sales and over 400 employees. They are listed on the JASDAQ stock market in Tokyo.
"This is a fantastic relationship with a strong new Japanese distributor whose business is entirely focused on interventional cardiology. Japan Lifeline has a significant share of the Japanese market for Electrophysiology and has established extensive distribution relationships in the market. Japan was a very important market for our PATHFINDER diagnostic line of products and we look forward to working with an experienced marketing partner with shared goals and ambitious objectives for the coming years," stated Robert Cheney, Cardima's CEO.
Mr. Hidetoshi Saito, Executive Vice President, of Japan Lifeline, commented: "Cardima's products have been of great interest to us for some time and our company is extremely happy to have finalized this marketing relationship. The PATHFINDER diagnostic line will appeal to Japanese physicians because of its superior capabilities, unique features, such as the low profile, small size, and the multi-electrode design." Mr. Saito continued, "We are optimistic that our sales efforts will be effective and that sales of Cardima products will grow significantly over time. Japan Lifeline is hopeful that this relationship will expand into distribution of other Cardima products in the future."
About Cardima
Cardima, Inc. has developed the PATHFINDER®, TRACER™ and REVELATION® Series of diagnostic catheters, the VUEPORT® and NAVIPORT® Series of guiding catheters, the INTELLITEMP® Energy Management Device, and the Surgical Ablation System (SAS). All of these devices are CE marked and received U.S. FDA 510(k) clearance. The REVELATION® Series of ablation catheters with the INTELLITEMP® EP Energy Management Device was developed and marketed for the treatment of atrial fibrillation (AF) after receiving CE mark approval in Europe; it is not currently available in the U.S.
PATHFINDER®, TRACER™, VUEPORT®, NAVIPORT®, REVELATION® and INTELLITEMP® are registered trademarks of Cardima, Inc.
For more information, please visit the Company's website at www.Cardima.com.
Forward-Looking Statements
Except for the historical information contained herein, the matters discussed in this press release are forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially from those expressed in or implied by such forward-looking statements, including but not limited to the sales growth in Japan. Potential risks and uncertainties include, but are not limited to: the uncertainties associated with the prospects for FDA approval of any new devices; the prospect for any future clinical trials or regulatory activities; the risk that the Company will not be able to raise additional capital in the immediate term as needed to continue operations and the risk that we will be unable to secure FDA approval for the EP ablation applications in the USA and CE mark for the Surgical Ablation probe series with Sheath. Additional risks and uncertainties are set forth in the Company's Annual Reports on Form 10-KSB and Form 10-KSB/A for the year ended December 31, 2007, the Company's Quarterly Reports on Form 10-Q and in the Company's other filings with the Securities and Exchange Commission. The Company undertakes no obligation to publicly release the result of any revisions to these forward-looking statements that may be made to reflect events or circumstances after the date hereof, or to reflect the occurrence of unanticipated events or changes in the Company's plans or expectations.
Source: Cardima
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