EndoVascular Technologies Announces Issuance of an Important Patent|
MENLO PARK, Calif. Sept. 23 /PRNewswire/ -- EndoVascular Technologies, Inc. (Nasdaq:EVTI), today announced that the U.S. Patent Office has issued an
important new patent to the company. The patent (U.S. Patent Number 5,669,936) is directed to a system and method for placing a prosthesis within a corporeal
lumen, such as the aorta, utilizing an inflatable device. This patent is based on a continuation application having a priority date going back to 1983. ``The use of
balloon inflation to implant a prosthesis for intraluminal repair has proven to be an invaluable technique,'' said Jim Fitzsimmons, president and chief executive officer.
``The company believes this patent is a very important addition to its portfolio,'' he added.
In addition to this patent, the U.S. Patent Office has issued four other significant patents to the company over the last thirteen months, adding to an already extensive
U.S. and foreign patent portfolio. Patent number 5,562,728 relates generally to grafts with one or more attachment systems. Patent numbers 5,609,625 and
5,628,783 generally relate to the system and method of delivering a graft. Patent number 5,662,700 is directed to general methods of implanting intraluminal grafts.
The company indicated that its U.S. patent portfolio now consists of 18 issued patents and 14 pending patent applications. ``These new patents further enhance
EVT's strong intellectual property position and serve as an acknowledgment of our pioneering research and development in the field of endovascular grafting,'' said
Fitzsimmons. The company's first commercial products that utilize this intellectual property are targeted at the endovascular repair of AAA's, which represent,
according to industry analysts, an estimated $750 million potential U.S. Market and an estimated $1 billion potential worldwide market.
EndoVascular Technologies, Inc. designs, develops, and manufactures minimally invasive endovascular systems to repair diseased or damaged vascular structures.
The company's Ancure(TM) endovascular grafting system provides catheter-based delivery and implantation of a specialized, sutureless prosthesis to repair
abdominal aortic aneurysms. The Ancure system is designed to offer a minimally invasive alternative to the open surgical procedure performed today. In the United
States, EVT's Ancure Tube, Ancure Bifurcated and Ancure Aortoiliac products are currently in Phase II clinical trials. These products are approved for marketing
in the European Union and Australia.
Ancure, EGS, EndoGraft and the company's logo are trademarks of EndoVascular Technologies, Inc.
This news release consists of forward-looking statements that involve risks and uncertainties including the timing of patent issuances, breadth and enforceability of
patents, and other risks detailed from time to time in the company's SEC reports, including, in particular, the ``Risk Factors'' section of the company's report on
Form 10K for the year ended December 31, 1996 and on form 10-Q for the quarter ended June 30, 1997. There can be no assurance that the company's issued
patent or pending applications will offer any protection or that they will not be challenged, narrowed, invalidated or circumvened. In addition, there can be no
assurance that the company's pending patent applications will issue into enforceable patents, or that the company's devices will be safe and effective in clinical trials,
obtain required regulatory approvals or achieve significant market acceptance or that the company will achieve or sustain profitability.