Abiomed Announces Five-Year, $16+ Million Impella and AB5000 Distribution Agreement with Medix Japan.DANVERS, Mass. -- Abiomed, Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : ABMD ABMD areal bone mineral density ABMD AEGIS Ballistic Missile Defense (US Navy) ABMD Advanced Ballistic Missile Defense ) today announced a five-year distribution agreement with Medix Japan Inc., a leading Japanese distribution company for cardiac assist devices. Building on its strong eight-year relationship with Abiomed, Medix intends to initiate clinical trials in Japan during Abiomed's fiscal 2008. The agreement between Abiomed and Medix provides for distribution of Abiomed's AB5000 and Impella products and includes a minimum purchase commitment for the Impella products of $11 million within the first 18 months following Impella regulatory approvals in Japan. The balance of the purchase commitment is for Abiomed's other products and begins in Abiomed's fiscal first quarter 2008. "Interventional cardiologists and cardiovascular surgeons in Japan can now look forward to incorporating the Impella and AB5000 product platforms into their treatment of patients in acute heart failure," said Yasu Matsuoka, President of Medix. "Our regulatory and specific cardiovascular expertise and distribution partners make our partnership with Abiomed an ideal fit. We believe that this technology will have a profound effect on patient care and are totally committed to working with our government officials and the Abiomed team to bring these products to the Japanese market as rapidly as possible." "Japan represents a sizeable market for our recovery technologies with a population of approximately 127 million, 600 open heart hospitals and 1,800 catheterization catheterization Threading of a flexible tube (catheter) through a channel in the body to inject drugs or a contrast medium, measure and record flow and pressures, inspect structures, take samples, diagnose disorders, or clear blockages. labs. Heart recovery is one of the main priorities in Japan and their physicians often provide some of the most elaborate evidence-based scientific publications in the world. We have found a valuable partner with Medix and are excited for the future," said Michael R. Minogue, Chairman, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. and President of Abiomed. ABOUT ABIOMED Based in Danvers, Massachusetts Danvers is a town in Essex County, Massachusetts, United States. Located on the Danvers River near the northeastern coast of Massachusetts, Danvers is most widely known for its association with the 1692 Salem witch trials. , Abiomed, Inc., is a leading developer, manufacturer and marketer of medical products designed to assist or replace the pumping function of the failing heart. Abiomed currently manufactures and sells the AB5000[TM] Circulatory circulatory /cir·cu·la·to·ry/ (ser´ku-lah-tor?e) 1. pertaining to circulation, particularly that of the blood. 2. containing blood. cir·cu·la·to·ry n. 1. Support System and the BVS BVS Biblioteca Virtual em Saúde (Brazil) BVS Bureau of Vital Statistics BVS Brethren Volunteer Service (Church of the Brethren) BVS Boston Vegetarian Society (Cambridge, MA) ([R]) 5000 Biventricular Support System for the temporary support of all patients with failing but potentially recoverable hearts. In Europe, Abiomed offers the minimally invasive Impella([R]) Circulatory Support System under CE Mark approval. The Impella([R]) 5.0 and 2.5 are investigational devices limited by Federal Law solely to investigational use in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. . Other Impella devices are not yet available for sale in the United States. The Company's AbioCor([R]) Implantable Replacement Heart is now available under a Humanitarian Device Exemption granted by the United States Food and Drug Administration United States Food and Drug Administration (FDA), n.pr a unit of the Public Health Service created to protect the health of the nation against impure and unsafe foods, drugs, and cosmetics. . For additional information please visit: www.abiomed.com. FORWARD-LOOKING STATEMENTS forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. This Release contains forward-looking statements, including statements regarding development of Abiomed's existing and new products, the Company's progress toward commercial growth, and future opportunities. The Company's actual results may differ materially from those anticipated in these forward-looking statements based upon a number of factors, including uncertainties associated with development, testing and related regulatory approvals, anticipated future losses, complex manufacturing, high quality requirements, dependence on limited sources of supply, competition, technological change, government regulation, future capital needs and uncertainty of additional financing, and other risks and challenges detailed in the Company's filings with the Securities and Exchange Commission, including the Annual Report filed on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. . Readers are cautioned not to place undue reliance on any forward-looking statements, which speak only as of the date of this Release. The Company undertakes no obligation to publicly release the results of any revisions to these forward-looking statements that may be made to reflect events or circumstances that occur after the date of this Release or to reflect the occurrence of unanticipated events. |
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