Minnesota, United States and Melbourne, Australia – September 15, 2014 – Osprey Medical Inc. (ASX: OSP) has developed a new smart syringe and LCD display system, soon to be incorporated with its existing AVERT™ System.
The enhanced System, called the AVERT™ Plus, was selected by a team of independent heart physicians from a large list of new technology applicants to be presented at an Emerging Innovative Cardiovascular Technology session at the prestigious Transcatheter Cardiovascular Therapeutics (TCT) Meeting in Washington, DC, on September 13-17. This selection enables Osprey to highlight its AVERT™ System to physicians attending one of the world’s largest gatherings of heart specialists. The meeting hosts around 12,000 attendees with over 6,000 international medical professionals in the fields of interventional cardiology and vascular medicine.
The AVERTTM Plus is a new technology that features a disposable smart syringe and reusable LCD monitor. The proprietary system offers several key benefits:
• monitors and displays the calculation of maximum dye dose levels to be used in a patient based on their kidney function before they undergo a procedure;
• automatically keeps real-time track of the amount of dye being used and the amount diverted by the AVERTTM System upon injection; and
• allows for a more accurate method of recording the dose delivered to the patient.
The AVERTTM Plus provides a simple way for doctors and hospitals to readily comply with new dosage recording guidelines that were recently issued by the US cardiology community to improve the quality of care following coronary procedures such as stenting or angioplasty.
Osprey’s President and CEO, Mike McCormick commented: “The selection of AVERT™ Plus as one of this year’s “TCT Innovation Breakthroughs” is an honour for Osprey, which we believe demonstrates the physician community’s confidence that our AVERT™ System is a significant technology.”
“Feedback from physicians on our AVERT™ System, both in our on-going clinical trial and our expanding commercial activities in Texas, has been very encouraging. Customers who have adopted the AVERT™ System in Texas will be upgraded to AVERT™ Plus as soon as it becomes available in the US.”
AVERT™ Plus has already received European CE Mark approval and US FDA clearance is pending. The Company anticipates that the AVERT™ Plus will be available in the US in early Q1 CY 2015.
A conference call with Mr. McCormick discussing the AVERT™ Plus and the TCT Conference will be held on Thursday, September 18, 2014 at 11am Melbourne, Australian time.
Conference ID: 346831
Webcast: The presentation is available via the webcast link below and will be uploaded to www.ospreymed.com and the ASX at approximately 8.30am (AEST) on Thursday 18th September:
http://event.on24.com/r.htm?e=850841&s=1&k=A8F01E7717F6F3BEB6A4D5B1DC791B34
Please note questions can only be facilitated if dialled into the conference call via phone. See below for details.
Australian Participant Dial-In Numbers:
Participants can dial either of the numbers below to join the call. They will need to quote the Conference ID.
Toll: +61 2 9007 3187
Toll Free: 1800 558 698
International Participant Dial In Numbers
Toll-free dial in numbers for each country are listed below. For countries not listed below, the Australian Toll number provided above may be used.
New Zealand Toll Free 0800 453 055
China Wide 4001 200 659
Canada 1855 8811 339
Hong Kong 800 966 806
Singapore 800 101 2785
United Kingdom 0800 051 8245
United States 1855 8811 339
An archive of the call will be available at http://www.openbriefing.com/OB/1540.aspx
Further information:
About the TCT Meeting
The Transcatheter Cardiovascular Therapeutics (TCT) Meeting is the world’s largest education meeting specializing in interventional cardiovascular medicine. The meeting draws almost 12,000 annual attendees with over 6,000 medical professionals from throughout the world in the fields of interventional cardiology and vascular medicine. The 2014 TCT Meeting will be held September 13-17, 2014 at the Walter E. Washington Convention Center in Washington, DC.
About the AVERT™ Plus System
The AVERT™ Plus System is a single use disposable kit that consists of the AVERT contrast modulation reservoir and an infrared light sensing smart syringe. The disposable components attach to the reusable AVERT control system and monitor display unit.
About Osprey Medical
Osprey Medical’s core technologies originated from research conducted by Dr David Kaye at Melbourne’s Baker IDI Heart and Diabetes Institute. Osprey is focused on improving patients’ quality of life by protecting those with chronic kidney disease from contrast induced nephropathy (CIN) and preventing limb amputation in diabetic patients with advanced foot infections. The Company’s primary product, the AVERT™ Plus System, is designed to reduce the amount of dye (contrast) injected during commonly performed coronary and peripheral procedures, thus protecting kidneys from damage known as contrast induced nephropathy (CIN). Osprey Medical’s Limb Recovery™ System is a percutaneous technology that allows physicians to deliver targeted doses of antibiotics to the lower limb in patients with diabetes suffering from advanced foot infections.
Osprey Medical’s Board and Management are comprised of experienced and successful personnel with established track records covering medical device development, regulatory approvals, sales and marketing, and mergers-acquisitions. Osprey Medical’s advisory board comprises world-recognised experts in heart and kidney diseases.
Contact details:
Media
Gavin Lower
Buchan Consulting
T: (613) 8866 1215
glower@buchanwe.com.au
Investors
Rebecca Wilson
Buchan Consulting
VP of Marketing
M: (61) 417 382 391
rwilson@buchanwe.co.au
Company
Doug Schoenberg
VP of Marketing
T: (952) 955 8230
dschoenberg@ospreymed.com
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