IRVINE, Calif., Aug. 16 /PRNewswire-FirstCall/ — Endologix,
Inc. (Nasdaq:
ELGX), developer of minimally invasive treatments for aortic
disorders, announced today that it has entered into a development
agreement and exclusive license with Evasc Medical Systems Corp.,
for its balloon expandable stent technology. Evasc is a medical
device development company located in Vancouver, B.C. The patented
stent is made from cobalt chromium and is pre-mounted on an
angioplasty balloon catheter for ease-of-use.
Endologix plans to cover the balloon expandable stent with its
proprietary ePTFE graft material and utilize it in conjunction with
the Company’s fenestrated stent graft device, which is currently in
pre-clinical development. The fenestrated stent graft will be a new
aortic extension designed to be used with Endologix’s
Powerlink® main body bifurcated stent grafts. It is designed to
provide an off-the-shelf, endovascular treatment option for short
neck and juxtarenal abdominal aortic aneurysms (AAA), which require
the graft to extend above the renal arteries in order to achieve
proper fixation and sealing. The balloon expandable stent graft
will be used to branch the fenestrated stent graft into the renal
arteries, allowing normal blood flow to the kidneys.
John McDermott, President and Chief Executive Officer of
Endologix, said, “This patented balloon expandable stent technology
is an important addition to our product portfolio. It will be
integrated into our fenestrated stent graft device, which will
expand the endovascular AAA market to include short aortic necks
and aneurysms that extend up above the renal arteries.
Approximately 15% of diagnosed AAA patients have these conditions
and the vast majority require open surgical repair due to the lack
of fenestrated stent grafts in the market. The balloon expandable
stent technology will also be developed into stand alo
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