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CORNOVA GETS CE MARK FOR VALECOR CORONARY STENT SYSTEM.

CorNova, Inc., a developer of advanced endovascular devices and catheters, and CardioTech International, Inc. (AMEX:CTE) have reported that CorNova GmbH, a wholly-owned German subsidiary of CorNova, Inc., has received CE Mark marketing approval for its Valecor(TM) Coronary Stent System. This advanced cobalt- chromium stent uses an innovative design that was developed to maximize flexibility and conformity while providing uniform expansion and coverage. Utilizing some of the thinnest struts of any commercialized coronary stent, The Valecor(TM) stent minimizes strut thickness which is believed to play a significant role in reducing restenosis.

CorNova Chairman and CEO Dr. Eric Ryan said: "We are very pleased to announce the Valecor(TM) Coronary Stent System as our first approved product. We believe this bare metal stent system illustrates exceptional characteristics that will position it well in the approximately $1 billion international bare metal stent market and as a platform for our very promising passive and drug-eluting coating systems that are currently in development."

CardioTech's President and CEO Michael Adams stated: "The coatings we are developing with our strategic partner CorNova utilize our custom-formulated ChronoFlex(R) proprietary polymer that has excellent biodurablility, biocompatibility, and elastomeric characteristics that are ideally suited for stents. Our joint development efforts are designed to enhance long-term drug eluting stent performance."

CE Mark approval allows the Valecor(TM) Coronary Stent System to be sold in all European Union countries and well as many other countries worldwide that accept this approval for registration within those countries. CorNova currently has sales and distribution offices in Munich, Germany and Buenos Aires, Argentina.

About CorNova, Inc.

CorNova, Inc., founded in 2003, is focused on the development and marketing of innovative endovascular diagnostics and treatments. CorNova is a business venture among CardioTech International, Inc. (AMEX:CTE) , Implant Sciences Corporation (AMEX:IMX) , and an experienced international team of business, medical, and engineering professionals within the field of interventional cardiology. CorNova's unified relationship with its numerous strategic partners allows us to build value and opportunity through the utilization of the vast technologies, expertise, resources of these partners, in addition to our talented internal team, to develop and sell innovative interventional devices.

About CardioTech International

CardioTech International, Inc. is a medical device company that designs, develops, manufactures and sells innovative products and materials for the treatment of cardiovascular, orthopedic, oncology, urology and other diseases. The company's strategic goal is to incorporate its proprietary polymer technology into a wide range of breakthrough medical applications. CardioPass(TM) is CardioTech's proprietary, synthetic coronary artery bypass graft. (SynCAB) The company generates revenues from sales of advanced medical devices and materials, as well as from contracted product design and development services.

For more information, call 781/270-0055 or visit http://www.cardiotech-inc.com.
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Publication:Biotech Equipment Update
Date:Feb 1, 2007
Words:451
Previous Article:THORATEC SUBMITS PMA FOR BIT APPROVAL FOR HEARTMATE II.
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