GYG Gyg Plc

RNS Number:7783J
Gyrus Group PLC
11 September 2001


              Gyrus Group PLC ("Gyrus", "the Group" or "the Company")
                    announces new product introduction and
                           two strategic alliances
     At the meeting of the American Academy of Otolaryngology and Head & Neck
                                    surgery


*         Gyrus launches Gyrus ENT, a new Head & Neck surgery division of the
Group formed following the acquisitions of Smith & Nephew Inc.'s ENT Division
and Somnus Medical Technologies Inc completed on June 5th 2001 for a total
consideration of #104 million, at the prestigious American Academy of
Otolaryngology and Head and Neck Surgery Meeting in Denver, Colorado.

*         Gyrus ENT introduces the revolutionary SMartTM Stapes product, a
prosthesis for surgical correction of conductive hearing loss, a condition
affecting 80,000 patients annually.

*         Gyrus and Genzyme Biosurgery (Nasdaq: GZBX), based in Cambridge,
Mass., have entered into an exclusive five-year agreement for the distribution
of Genzyme's SepraTM products for use in ear, nose and throat (ENT)
procedures.  Genzyme's SepraTM products are used post-operatively to improve
tissue healing and prevent scar formation following Head & Neck surgical
procedures.

*         Gyrus enters into a collaborative marketing alliance with
Visualization Technologies Inc covering computer-assisted image-guidance VTI
ENTrakTM system.  The system allows surgeons to navigate through a "road map"
of the patient's anatomy, providing precise information of instrument location
with respect to the vital structures encountered during head and neck surgical
procedures.


The impact of these alliances could add US$4.5 million - US$7.0 million in
revenues in 2002 which will increase as other potential Head & Neck surgery
applications are added.

Commenting on the announcement, Brian Steer, Executive Chairman, said:

"The management team has worked hard on the integration of the Somnus and ENT
acquisition since completion in June 2001.  We are delighted to be able to
launch our new Gyrus ENT division at the most important Head & Neck surgery
meetings of the year.  The launch of SMartTM and the strategic alliances
formed with Genzyme Biosurgery and Vizualisation Technologies demonstrates our
success in integrating these new businesses and providing divisional
management with the support to drive their business forward."



Contacts:


Financial Dynamics for Gyrus Group plc         Tel:  +44 (0) 20 7831 3113
Edward Bridges
Sarah Manners


Health Communications, Inc                     Tel:  +1 323 850 7656
Todd E. Appleman
tappleman@healthcommunications.com

Health Communications                          Tel:  +1 901 685 8844
Patrick Baker
pbaker@healthcommunications.com

Overview

At the prestigious American Academy of Otolaryngology and Head & Neck Surgery
Meeting in Denver, Colorado, Gyrus today launched Gyrus ENT, the Head & Neck
surgery division of the Group.  Gyrus ENT has been formed following the
acquisitions of Smith & Nephew, Inc.'s ENT Division and Somnus Medical
Technologies, Inc. completed on 5 June 2001 for a total consideration of #104
million.

The launch of Gyrus ENT, a world leader in ENT and Head & Neck surgery, was
accompanied by the market introduction of the revolutionary new SMartTM Stapes
product and the announcement of two strategic alliances.  These strategic
alliances, one with Genzyme Biosurgery and the other with Visualization
Technology Inc, cover the distribution and collaborative marketing of
complementary products and technologies addressing the Head & Neck surgery
market.

Introduction of the SMartTM Stapes Product

Gyrus ENT, the worldwide leader in middle ear implants, announced the release
of the SMart stapes product.  This revolutionary and new microscopic implant
is used in the restoration of hearing in patients who suffer from conductive
hearing loss due to a loss of sound transmission through the bones in the
middle ear.  This type of hearing loss afflicts approximately 80,000 people
worldwide on an annual basis.

The new implant utilizes a high-technology shape memory alloy (SMA) composed
of nickel and titanium called Nitinol.  The implant is supplied in an 'open'
position and the surgeon simply applies a small amount of heat to activate the
Nitinol SMA, causing the implant to close to a memorised shape and securely
attach to the incus bone in the middle ear.  These unique features minimise
trauma to adjacent tissues and improve the repeatability of locating the
prosthesis.

Dr. Bruce Gantz, Chairman of the Department of Otolaryngology at the
University of Iowa stated, "The reason stapes surgery is still challenging is
that there is so little tolerance for error.  With the new SMartTM wire piston
from Gyrus ENT, two major problems are eliminated:  first, it ensures the
prostheses fits securely around the incus without wobble, without necrosis and
without transmitting any damaging energy into the inner ear; second, it snugs
up nicely and without touching the prosthesis to crimp it into place."


Collaborative Alliance with Genzyme Biosurgery

Gyrus ENT LLC (formerly Smith & Nephew ENT Division and Somnus(R)), and
Genzyme Biosurgery (Nasdaq: GZBX), based in Cambridge, Mass., today announced
that they have entered into an exclusive five-year agreement for the
distribution of Genzyme's SepraTM products for use in ear, nose and throat
procedures.

Under terms of the global agreement, Gyrus ENT will market and sell Sepragel
(R) Sinus Bioresorbable Nasal Packing and Sinus Stent and SeprapackTM
Bioresorbable Nasal Packing and Sinus Stent.  The two products are
formulations of hyaluronan (HA or hyaluronic acid) and are intended for use as
postoperative nasal and sinus packing to separate traumatized tissues, control
minimal bleeding and enhance patient care in the more than 360,000 functional
endoscopic sinus surgery (FESS) procedures performed worldwide on an annual
basis.



Sepragel(R) Sinus is a viscoelastic gel form of hyaluronan that gives the
surgeon the flexibility to pack hard-to-reach areas.  The clear nature of the
gel is designed to enable the surgeon to better visualize the surgical site
during postoperative exams.



SeprapackTM is a composite of chemically modified HA and CMC
(carboxymethylcellulose) formed into a compressed wafer.  The surgeon wets the
wafer and applies it allowing it to gently expand and separate the affected
tissue within the surgical site.



Sepragel(R) Sinus and SeprapackTM are naturally resorbed by the surrounding
tissue within 7 - 14 days, requiring no painful removal of packing, a major
objection with traditional packing methods.  Since HA is a naturally occurring
substance found in the extracellular matrix of human tissue it is highly
biocompatible.



"Hyaluronan serves well as an internal wound dressing where a moist healing
environment is desirable.  We have used similar formulations of HA to develop
products for preventing post-surgical adhesions following abdominal and
gynaecologic surgical procedures.  Perhaps the biggest advantage of sinus
packs and dressings made form hyaluronan is their ability to be resorbed and
leave the surgical site through normal outflow passages," said Jim Burns, SVP
Biomaterials Research for Genzyme.



"This alliance is the first realization of our mission to include
complementary biological materials within our product portfolio enabling less
traumatic management of tissues and improving clinical outcomes," said Mark
Goble, Group Chief Executive for Gyrus PLC.

The agreement between Gyrus and Genzyme also extends to other potential ENT
applications of hyaluronan.

The companies estimate near term market potential for the sinus products alone
at US$4.0 million - US$6.0 million annually.

"We are very pleased to begin our relationship with Gyrus ENT," said Duke
Collier, President Genzyme Biosurgery. "Our company has one of the strongest
surgical biomaterial product development capabilities in the world. It is
integral to our strategy to work with leading companies in specialized
surgical niches, like Gyrus ENT, to develop, launch and sell a broad range of
such products."


Strategic Alliance with Visualization Technologies Inc.

Gyrus has signed a strategic alliance with Visualization Technologies Inc. ("
VTI"). Under the terms of the deal Gyrus ENT will be an exclusive
collaborative partner with VTI for ENT applications of their image-guided
surgery systems.  Both companies are recognized leaders in the ENT market and
have close working relationships with major teaching institutions worldwide.

During ENT surgery, the surgeons have to correlate the location of their
instruments, such as the Turbo 7000TM sinus debrider system from Gyrus ENT, in
relation to the patient's actual anatomy. By tracking these instruments using
computer assisted image-guidance, the instruments can be precisely located
with respect to a three dimensional set of radiological images, in real time.
Surgeons can now navigate through a "road map" of the patient's anatomy, using
the VTI ENTrakTM system.

"The alliance with Gyrus ENT is a great move for VTI.  We are both leaders in
ENT in our respective product areas.  Together, we can offer the ENT physician
products and customer service which are unmatched", said Maurice R. Ferre,
M.D., President and CEO of VTI.  "We have had a longstanding personal
relationship with the people at Gyrus ENT, which gives us a high degree of
confidence in the success of this relationship", continued Ferre.

"We are excited by the announcement of this important strategic alliance with
VTI," commented Jerry Dowdy, President and CEO of Gyrus ENT.  "It makes good
commercial sense to bring together the combined Sales and Marketing strengths
of our companies to promote complementary products and technologies in ENT,"
Dowdy added.  "We at Gyrus ENT look forward to working with the team at VTI to
offer an unrivalled product and customer service package."

It is estimated that the near term impact of this alliance could add US$0.5
million - US$1.0 million in incremental revenues.


Notes to Editors:

About Gyrus ENT

Gyrus ENT, a world leader in ENT and Head and Neck Surgery, is a Division of
Gyrus Group PLC and was formed following the acquisition and integration of
Smith + Nephew ENT and Somnus Medical Technologies Inc.  Gyrus Group PLC is a
UK medical device company listed on the main market of the London Stock
Exchange, and is focused on less traumatic solutions to tissue management
during surgical procedures.   For more information, visit the company's web
sites at http://www.gyrusplc.com or http://www.gyrus-ent.com

About Genzyme Biosurgery

Genzyme Biosurgery is a leader in the emerging market for sophisticated
biotechnology products used to improve or replace surgery. Its portfolio of
products is concentrated on two rapidly growing markets: orthopaedics and
heart disease. Genzyme Biosurgery is developing a pipeline of biomaterials and
biotherapeutics for these markets, as well as a group of biomaterials products
designed to ameliorate the consequences of surgery. Genzyme Biosurgery is a
division of Genzyme Corp.



About Visualization Technology, Inc.

Established in 1993, Visualization Technology, Inc. is a privately held
Massachusetts based manufacturer of intraoperative medical devices and related
products for use in image guided surgery in the specialties of Ear, Nose and
Throat, Neurosurgery, and Orthopedics.  For more information, visit the
company's web site at .

Gyg (LSE:GYG)
Historical Stock Chart
Von Jun 2024 bis Jul 2024

Gyg (LSE:GYG)
Historical Stock Chart
Von Jul 2023 bis Jul 2024