Endovasc Ships First R&D Order of New Therapeutic Stent Coating to Vascular Engineering Inc.MONTGOMERY, Texas--(BW HealthWire)--Sept. 28, 1998--Endovasc Ltd. Inc. (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). BB:ENDV) today announced that it has reached an agreement with Arterial Vascular Engineering Inc. (Nasdaq:AVEI) and has shipped the first order of coated Stents containing Endovasc's proprietary liposomal prostaglandin E-1 (PGE-1) for beta testing (programming) beta testing - Testing a pre-release (potentially unreliable) version of a piece of software by making it available to selected users. This term derives from early 1960s terminology for product cycle checkpoints, first used at IBM but later standard throughout the and evaluation at AVEI's Santa Rosa, Calif., facility. This new technology uses the proven AVEI Stent with ENDV's proprietary formula and liposomal PGE-1 coating method developed by ENDV. AVEI in less than two years after US FDA FDA abbr. Food and Drug Administration FDA, n.pr See Food and Drug Administration. FDA, n.pr the abbreviation for the Food and Drug Administration. market approval has captured a large share of the $1 billion vascular Stent market. AVEI, with 1997 revenues of more than $387 million, designs, develops, manufactures, and markets a variety of highly specialized Stent systems and coronary angioplasty catheters. ENDV Chairman and Chief Executive Officer, Dr. David P. Summers, commenting on the announcement stated, "This is a new step for ENDV into the $1 billion dollar annual market in which AVEI is now a leader. We are committed to developing the coating in time to meet AVEI's R&D schedule for in vivo in vivo /in vi·vo/ (ve´vo) [L.] within the living body. in vi·vo adj. Within a living organism. in vivo adv. modeling. We are continuing to find new improvements which we hope to present to AVEI for future evaluations and we are confident we can prevent or greatly reduce the bane BANE. This word was formerly used to signify a malefactor. Bract. 1. 2, t. 8, c. 1. of in-Stent restenosis in-stent restenosis Interventional cardiology Scar-induced reclosure of a previously stenosed coronary artery, a complication seen in ±20% of Pts undergoing stent placement for CAD. See Coronary artery disease, Stent. Cf Late stent thrombosis. ." ENDV will be presenting an abstract poster in October at the American College of Angiology angiology /an·gi·ol·o·gy/ (an?je-ol´ah-je) the study of the vessels of the body; also, the sum of knowledge relating to the blood and lymph vessels. an·gi·ol·o·gy n. annual meeting, demonstrating the inhibitory effects of PGE-1 on smooth muscle cell migration. Certain of the above statements may be forward looking statements that involve risks and uncertainties. In such instances, actual results could differ materially as a result of a variety of factors, including competitive developments and risk factors listed from time to time in the company's reports. Please direct all inquiries to: Endovasc Ltd. Inc., 15001 Walden Road, Suite 108, Montgomery, Texas 77356, Telephone: 409/448-2222, Facsimile: 409/582-2250, E-mail: Endovasc@tacsrv.llc.net. Endovasc Ltd. Inc. is a biopharmaceutical company using liposomal drug delivery for specific products that have already shown safety and efficacy in the generic form. Patent and trade secrets cover the company's products and processes for competing in this $2 billion market. |
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