China Medical Signs Exclusive Distribution Alliance with EDAP to Launch Its HIFU Devices in European Union and Russia.BEIJING -- China Medical Technologies, Inc. (Nasdaq: CMED CMED Coordinated Medical Emergency Direction CMED Central Massachusetts Emergency Dispatch ), a leading China-based medical device company that develops, manufactures and markets advanced in-vitro diagnostic systems and high intensity focused ultrasound HIFU (high intensity focused ultrasound) (sometimes FUS or HIFUS) is a highly precise medical procedure using high-intensity focused ultrasound to heat and destroy pathogenic tissue rapidly. (HIFU HIFU High-intensity focused ultrasound Surgery A method that focuses ultrasound to heat/ablate target tissue without injuring surrounding structures. See Sonablate 200™. ) products, and EDAP EDAP Eating Disorders Awareness and Prevention EDAP Extended Data Availability and Protection (fault tolerant disk technology) EDAP Emergency Department Approved for Pediatrics EDAP Energy Descent Action Plan TMS TMS Transcranial Magnetic Stimulation (alternative medicine for depression) TMS Test Match Special (sports - cricket) TMS Texas Motor Speedway TMS Transportation Management System TMS Toyota Motor Sales S.A. (Nasdaq: EDAP), a global leader in HIFU treatment of prostate cancer, today announced an exclusive agreement in which EDAP will distribute China Medical's HIFU tumor therapy systems in the European Union (EU) and Russia. The distribution agreement provides EDAP exclusive distribution rights in the EU and Russia for an initial period of four years following receipt of EU approval and CE marking for China Medical's FEPBY series of HIFU systems, with renewal periods following the initial term. China Medical will seek approval for its HIFU devices from the appropriate regulatory bodies with close support from EDAP. "Based on EDAP's history of success in bringing new and innovative technologies to market in Europe and Russia, we expect the agreement between China Medical and EDAP to not only accelerate the development and understanding of HIFU therapy for the treatment of cancer, but also help facilitate the European regulatory approval process for our HIFU systems," said Xiaodong Wu, Chairman and 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. of China Medical. "China Medical and EDAP share a commitment of developing innovative and advanced medical devices and we both seek to broaden our global leadership and market reach in key regions. EDAP already has the strongest HIFU sales network in Europe and we think that pairing our two HIFU companies from the East and the West will help advance our marketing efforts and potentially provide opportunities for future collaboration." "This is a historic and strategic alliance for HIFU," said Marc Oczachowski, CEO of EDAP. "Together, our companies represent a dominant force in HIFU applications, and we believe our distribution alliance will accelerate worldwide acceptance of this important technology. EDAP's Ablatherm-HIFU system has set a new standard in prostate cancer care. China Medical is the largest provider of extracorporeal extracorporeal /ex·tra·cor·po·re·al/ (-kor-por´e-al) situated or occurring outside the body. ex·tra·cor·po·re·al adj. Situated or occurring outside the body. HIFU devices in China for the treatment of solid tumors. Together we will be able to educate the global medical community about the benefits of HIFU more rapidly and make it a major therapeutic tool for the treatment of a broad range of solid tumor diseases. We look forward to developing further collaborative relationship with China Medical." About China Medical Technologies China Medical Technologies is a leading China-based medical device company that develops, manufactures and markets advanced in-vitro diagnostics products using Enhanced Chemiluminescence chemiluminescence /chemi·lu·mi·nes·cence/ (kem?i-loo?mi-nes´ens) luminescence produced by direct transformation of chemical energy into light energy. (ECLIA ECLIA Electrochemiluminescence Immunoassay ) technology and Fluorescent in situ Hybridization in situ hybridization A method for localizing a sequence of DNA, mRNA, or protein in a cell or tissue; the use of a DNA or RNA probe to detect a cDNA sequence in chromosome spreads or in interphase nuclei or an RNA sequence of cloned bacterial or cultured (FISH) technology, to detect and monitor various diseases and disorders, and products using High Intensity Focused Ultrasound (HIFU) for the treatment of solid cancers and benign tumors. For more information, please visit www.chinameditech.com. About EDAP TMS S.A. EDAP TMS S.A. develops and markets Ablatherm, the most advanced and clinically proven choice for HIFU treatment of localized prostate cancer. HIFU treatment is shown to be a minimally invasive and effective treatment option with a low occurrence of side effects. Ablatherm-HIFU is generally recommended for patients with localized prostate cancer (stages T1-T2) who are not candidates for surgery or who prefer an alternative option, or for patients who failed radiotherapy treatment. The company is also developing this technology for the potential treatment of certain other types of tumors. EDAP TMS S.A. also produces and commercializes medical equipment for treatment of urinary tract stones using Extra-corporeal Shockwave Lithotripsy Lithotripsy Definition Lithotripsy is the use of high-energy shock waves to fragment and disintegrate kidney stones. The shock wave, created by using a high-voltage spark or an electromagnetic impulse, is focused on the stone. (ESWL ESWL (Extracorporeal shock wave lithotripsy) The use of focused shock waves, generated outside the body, to fragment kidney stones. Mentioned in: Lithotripsy ). For more information, please visit http://www.edap-tms.com and http://www.hifu-planet.com. Safe Harbor Statement This press release contains forward-looking statements. These statements constitute "forward-looking" statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates" and similar statements. Among other things, the Company's expectations with respect to the launch of their FEPBY series of HIFU tumor therapy systems in EU and Russia contain forward-looking statements. Such statements involve certain risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Further information regarding these and other risks is included in China Medical's filings with the U.S. Securities and Exchange Commission, including its annual report on Form 20-F. China Medical does not undertake any obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required under applicable law. |
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