ABIOMED Reports Audited Financial Results; Conference Call with Investors and Analysts Scheduled.

Business Editors and Health/Medical Writers

DANVERS, Mass.--(BUSINESS WIRE)--Aug. 28, 2002

ABIOMED, Inc. (NASDAQ:ABMD) today announced that its new independent accountants have completed their audit work and issued an unqualified opinion on ABIOMED's financial results, as restated, for its fiscal years ended March 31, 2002, 2001 and 2000. The Company's Annual Report on Form 10-K for these periods and the Company's Quarterly Report on Form 10-Q for the fiscal quarter ended June 30, 2002 have been amended to reflect these audited results and filed with the U.S. Securities and Exchange Commission.

In each of the periods reported, the Company's expenses from new product development exceeded the Company's profits generated by its BVS(R) business line. The majority of this spending was related to development and clinical evaluation of the AbioCor(TM) Implantable Replacement Heart. The Company's product revenues were $24.7 million for the Company's fiscal year ended March 31, 2002 compared to $19.7 million, as restated, in the prior year. This 25% increase in product revenues primarily reflected increased sales of BVS products to existing customers, including timing of revenues under extended term contracts. BVS revenues, which have fluctuated from quarter to quarter, were $5.1 million in the Company's fiscal quarter ended June 30, 2002 compared to $6.1 million, as restated, in the same quarter of the prior year. This decrease primarily resulted from lower sales of BVS systems to new customers partially offset by increased revenues from reorders of BVS products by existing customers. Highlights of the Company's financial results for these periods are summarized in the table below. The Company's amended Form 10-K and Form 10-Q contain additional discussion and analysis of these operating results, including discussion of the restatements of the Company's prior period results as finalized and incorporated into those reports.

ABIOMED plans to hold a conference call with investors and analysts on Thursday, September 5, 2002 commencing at 11:00 a.m. EST. At that time, ABIOMED will discuss its financial results and provide an update on the status of the continuing initial U.S. clinical trial of the AbioCor Implantable Replacement Heart. Investors may access this conference call live via our website at www.abiomed.com.

Based in Danvers, Massachusetts, ABIOMED, Inc. (pronounced "AB'-EE-O-MED") is a leading developer, manufacturer and marketer of medical products designed to assist or replace the pumping function of the failing heart. The Company's AbioCor Implantable Replacement Heart is being implanted in patients as part of an initial clinical trial conducted under an Investigational Device Exemption from the United States Food and Drug Administration. The AbioCor has not been approved for commercial distribution, and is not available for use or sale outside of the initial clinical trial. ABIOMED currently manufactures and sells the BVS, a heart assist device for the temporary support of all patients with failing but potentially recoverable hearts.

This release contains references to AbioCor clinical trials, BVS revenues and overall operating results. The Company's results are subject to numerous risks and uncertainties which are discussed in the Company's Form 10-K and Form 10-Q as filed with the U.S. Securities and Exchange Commission. Investors are cautioned to consider these risks and uncertainties.

                             ABIOMED, Inc.
                         FINANCIAL HIGHLIGHTS
                             (as restated)
                    CONSOLIDATED OPERATING RESULTS


(In thousands, except     Twelve Months Ended      Three Months Ended
 per share data)
                          March 31,   March 31,   June 30,    June 30,
                            2002        2001        2002        2001

Product Revenues         $ 24,747    $ 19,724    $  5,134    $  6,064
Funded Research and
 Development                2,214       3,142         172         618
Total Operating Revenues   26,961      22,866       5,306       6,682

Cost of Products Sold       7,925       7,222       1,673       2,035
R&D Expenses               27,108      28,667       6,014       6,614
S,G&A Expenses             16,066      12,469       3,542       4,144
Total Expenses             51,099      48,358      11,229      12,793

Loss from Operations      (24,138)    (25,492)     (5,923)     (6,111)

Other Income, net           2,945       6,160         423         986
Net Loss                 $(21,193)   $(19,332)   $ (5,500)   $ (5,125)

Net Loss per Share       $  (1.02)   $  (0.94)   $  (0.26)   $  (0.25)

Weighted Average Shares
 Outstanding               20,869      20,583      20,952      20,792



               CONDENSED CONSOLIDATED BALANCE SHEET DATA


                                  3/31/02     3/31/01     6/30/02

Cash and Marketable Securities   $ 71,321    $ 92,498    $ 64,266
Current Assets                     83,435     105,430      76,469
Total Assets                       89,176     110,961      81,952
Current Liabilities                 9,308      10,779       7,523
Long-term Liabilities                --           368        --
Stockholders' Equity               79,868      99,814      74,429