PLC Systems Announces Discontinuation of Optiwave Program by Edwards Lifesciences
2006年12月5日 - 11:17PM
PRニュース・ワイアー (英語)
FRANKLIN, Mass., Dec. 5 /PRNewswire-FirstCall/ -- PLC Systems Inc.
(AMEX:PLC), a company focused on innovative cardiac and vascular
medical device-based technologies, said today that Edwards
Lifesciences Corporation (NYSE:EW) has announced that it is
discontinuing its sales activity with respect to the Optiwave 980
Cardiac Laser Ablation System to pursue other areas of strategic
importance. PLC manufactures the Optiwave 980 laser under a supply
agreement with Edwards signed in March 2006. In the first three
quarters of 2006, PLC recorded approximately $20,000 in sales from
Optiwave 980 laser systems, along with approximately $12,000 in
royalty payments on sales of Optiwave 980 disposables, or less than
five percent of the Company's total revenues in the first nine
months of 2006. PLC does not anticipate significant sales or
royalty payments from Optiwave 980 in the future, in light of
Edwards' decision. Said Mark Tauscher, President and CEO of PLC
Systems, "We understand this decision by Edwards Lifesciences to
focus its resources on other strategic opportunities as we made a
similar decision with regard to our pursuit of our innovative
RenalGuard(TM) program. Meanwhile, our other distribution
agreement, whereby Edwards acts as PLC's exclusive distribution
partner for our proprietary CO2 Heart Laser System, is unaffected
by Edwards' decision to discontinue the Optiwave 980 program."
About PLC Systems Inc. PLC Systems Inc. is a medical technology
company specializing in innovative technologies for the cardiac and
vascular markets. Headquartered in Franklin, Mass., PLC pioneered
the CO2 Heart Laser System, which cardiac surgeons use to perform
CO2 transmyocardial revascularization (TMR) to alleviate symptoms
of severe angina. CO2 TMR offers a treatment option for angina
patients who suffer from severe coronary artery disease. The CO2
Heart Laser is the world's first TMR angina relief device approved
by both the U.S. Food and Drug Administration and the Japanese
Ministry of Health, Labor and Welfare, and to obtain a CE Mark for
European distribution. In a move to broaden its market, the Company
is developing its proprietary RenalGuard Therapy and RenalGuard
System. RenalGuard Therapy is designed to reduce the toxic effects
that contrast media can have on the kidneys. This therapy is based
on the theory that creating and maintaining a high urine output is
beneficial to patients undergoing imaging procedures where contrast
agents are used. The real-time measurement and matched fluid
replacement design of the RenalGuard System is intended to ensure
that a high urine flow is maintained before, during and after these
procedures. This should allow the body to rapidly eliminate
contrast, reducing its toxic effects. The RenalGuard System with
its matched fluid replacement capability is intended to minimize
the risk of over- or under-hydration. Clinical trials were recently
commenced for RenalGuard. Additional company information can be
found at http://www.plcmed.com/ . 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 RenalGuard product,
the clinical trials for that product may not be successful, the
RenalGuard product may not be commercially accepted, we may undergo
operational changes which may impact our financial results,
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. PLC Systems, PLC Medical Systems, PLC, CO2 Heart Laser,
RenalGuard, RenalGuard System and RenalGuard Therapy are trademarks
of PLC Systems Inc. Contact: Mary T. Conway Conway Communications
617-244-9682 DATASOURCE: PLC Systems Inc. CONTACT: Mary T. Conway
of Conway Communications for PLC Systems Inc., +1-617-244-9682, Web
site: http://www.plcmed.com/
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