PLC Systems Announces New Cath Lab Product Initiative; Company Focuses on Preventing Contrast Induced Nephropathy
13 September 2006 - 2:58PM
PR Newswire (US)
-- Renal Guard(TM) Technology Addresses Estimated $500 Million
Opportunity In Interventional Cardiology and Interventional
Radiology Markets -- FRANKLIN, Mass., Sept. 13
/PRNewswire-FirstCall/ -- PLC Systems Inc. (AMEX:PLC), a medical
technology company focused on cardiac and vascular markets, today
announced that it expects to initiate clinical studies for a new
product initiative that has resulted from its ongoing work to
broaden and diversify its product portfolio beyond its current TMR
offerings. The new product initiative, Renal Guard(TM), is focused
on protecting renal (kidney) function during medical procedures
that utilize drugs or agents that are harmful to the kidneys.
Specifically, contrast media is used by physicians in more than
seven million interventional cardiology and interventional
radiology procedures worldwide annually. While contrast media is a
key imaging tool for these minimally invasive procedures, it can
cause serious health issues for patients with reduced kidney
function. A significant adverse effect of contrast agents is known
as Contrast Induced Nephropathy (CIN), which is a form of Acute
Renal Failure. (Photo:
http://www.newscom.com/cgi-bin/prnh/20060913/NEW012 ) "For at-risk
patients, Contrast Induced Nephropathy can lead to prolonged
hospital stays; extended intensive care unit stays; dialysis;
increased mortality; and higher healthcare costs," stated Mark R.
Tauscher, president and CEO of PLC Systems. "Scientific literature
has estimated that approximately 15 percent of all cath lab
patients are at risk of developing CIN. Going forward, we believe
the increasing trend for less invasive, image guided procedures
that require a contrast agent will only increase the risk for and
the occurrence of CIN in these patients." PLC expects to initiate
clinical studies that will evaluate the Renal Guard(TM) system's
ability to protect kidney function from contrast media used during
diagnostic and interventional procedures performed in the cardiac
catheterization laboratory. Renal Guard(TM) is a fully-automated,
real-time fluid measurement and replacement system. The Renal
Guard(TM) therapy limits the kidneys' exposure to the toxins
contained in the contrast agent by generating high urine flow in
patients. The fluid replacement mechanism within the Renal
Guard(TM) system matches the patient's urine output with normal
saline in order to keep the patients optimally hydrated during
their interventional cardiology or radiology procedure. Commenting
on the new growth initiative, Tauscher said, "Today marks a major
step forward in PLC's product diversification growth strategy. Two
years ago, we launched a comprehensive initiative to grow PLC
beyond TMR. We began with a methodical evaluation of both the
healthcare market and our key strengths. The rapid growth in
interventional and image-guided medical procedures pointed us to
the cath lab. Within the cath lab we identified Contrast Induced
Nephropathy as a significant, unmet clinical need in a large
patient population and an area to which we can readily transition
our manufacturing expertise and managerial strengths. We are
confident that our novel therapy can be easily adopted into current
medical practice." Commenting on the market opportunity, Tauscher
said, "CIN has the potential to be a large growth market for PLC.
Using the estimate of 15 percent of the 7 million interventional
cardiology and interventional radiology patients being at risk of
developing CIN we believe our Renal Guard(TM) therapy would serve
an addressable market of more than one million patients annually.
Based on an estimated $500 per procedure pricing model, the value
of that market opportunity could be more than $500 million.
Currently, there are no therapies that sufficiently address the CIN
problem." Commenting on the status of Renal Guard(TM), Tauscher
said, "During the past 18 months, we have moved our renal
protection program from concept to reality. We have completed and
observed encouraging results from both animal and human proof of
concept studies. During that time, we have taken significant steps
to establish domestic and international patent protection in order
to safeguard our first mover advantage in this marketplace. We have
assembled a top-tier scientific advisory board of CIN experts to
provide us with medical and scientific guidance necessary for this
growth initiative to succeed." Tauscher concluded, "Going forward,
we expect to initiate a U.S. pilot feasibility study in late 2006
with a pivotal clinical trial targeted for launch in 2007.
Ultimately, we would target U.S. commercial launch in late 2008 or
early 2009, subject to the receipt of necessary regulatory
approvals. The commercialization timeline could be accelerated on
the international front as we believe we can obtain CE Mark for our
Renal Guard(TM) system in the first half of 2007. We would then
anticipate an overseas commercial launch in the summer of 2007." In
conjunction with this announcement, PLC Systems will be hosting a
conference call today, September 13, at 11:00 a.m. Eastern Time.
The call may be joined via telephone by dialing (866) 362-4820 or
(617) 597-5345 (for international participants) at least five
minutes prior to the start of the call. The passcode is: 56823628.
A live Webcast of the call will be available and accessible at the
investor relations section of the Company's website at
http://www.plcmed.com/. For 10 days following the conference call,
an audio replay can be accessed by dialing (888) 286-8010 or (617)
801-6888 (for international participants) and using passcode
51289667. A recording of the conference call will be available for
the next 60 days on PLC's website. About PLC Medical Systems Inc.
PLC Medical Systems Inc. is a medical technology company
specializing in innovative solutions for the cardiac and vascular
markets. Currently, the company is developing a novel therapy that
is intended to protect renal (kidney) function during medical
procedures that utilize harmful nephrotoxic drugs and agents. In
addition, PLC manufactures two unique lasers that are used for the
treatment of severe angina and cardiac arrhythmias. Headquartered
in Franklin, Mass., PLC pioneered the CO2 Heart Laser System that
cardiac surgeons use to perform CO2 transmyocardial
revascularization (TMR) to alleviate symptoms of severe angina. PLC
Systems, PLC Medical Systems, PLC and Renal Guard are trademarks of
PLC Systems Inc. This press release contains "forward-looking"
statements. For this purpose, any statements contained in this
press release that relate to prospective events or developments are
deemed to be forward-looking statements. Words such as "believes,"
"anticipates," "plans," "estimates," "expects," "will" and similar
expressions are intended to identify forward- looking statements.
Our statements of our objectives are also forward-looking
statements. While we may elect to update forward-looking statements
in the future, we specifically disclaim any obligation to do so,
even if our estimates change, and you should not rely on these
forward-looking statements as representing our views as of any date
subsequent to the date of this press release. Actual results could
differ materially from those indicated by such forward-looking
statements as a result of a variety of important factors, including
we may not receive necessary regulatory approvals to market our
Renal Guard(TM) product, the clinical trials for that product may
not be successful, the Renal Guard(TM) product may not be
commercially accepted, operational changes, competitive
developments may affect the market for our products, regulatory
approval requirements may affect the market for our products, and
additional risk factors described in our Report on Form 10-K for
the year ended December 31, 2005, and our other SEC reports.
Contact: John Jordan Director of Investor Relations 508-541-8800,
ext. 145 http://www.newscom.com/cgi-bin/prnh/20060913/NEW012
http://photoarchive.ap.org/ DATASOURCE: PLC Systems Inc. CONTACT:
John Jordan, Director of Investor Relations of PLC Medical Systems
Inc., +1-508-541-8800, ext. 145 Web site: http://www.plcmed.com/
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