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Advanced Catheter Therapies Selects Hatch Medical for Technology Brokerage

Mon, 06/18/2012 - 4:45am
The Associated Press

(http://www.acatheter.com)

Advanced Catheter Therapies, Inc. (ACT),

(www.acatheter.com(http://ctt.marketwire.com/?release=900123&id=1720741&type=1&url=http%3a%2f%2fwww.acatheter.com%2f))

today announced that it has contracted with Hatch Medical, L.L.C.

(www.hatchmedical.com(http://ctt.marketwire.com/?release=900123&id=1720744&type=1&url=http%3a%2f%2fwww.hatchmedical.com%2f))

to assist with licensing the company's lead vascular catheter product.

"We are extremely excited about the substantial progress we've made in

the development of the patented Occlusion Perfusion Catheter? (OPC),

and that has encouraged us to move forward with commercializing the

OPC, a universal localized therapeutic agent delivery catheter. We are

also in the process of filing a 510(k) application with the U.S. FDA

for the OPC," said Paul J. Fitzpatrick, CEO of ACT.

"We believe the OPC represents a next generation platform technology

with tremendous potential to disrupt the therapeutic agent delivery

markets, including but not limited to drug coated/eluting stents and

balloons," said Paul Gianneschi, Managing Principal and Founder of

Hatch Medical.

"The increasing occurrences of vascular and related diseases due to

obesity and diabetes have generated an unprecedented need for devices

such as the OPC," Gianneschi continued. "The market potential for this

device is significant, with some estimates in excess of U.S. $8

billion. As you can imagine, we are very pleased to play a role in

bringing this exciting technology to market."

The OPC is a multi-lumen balloon catheter designed to temporarily

occlude a specific region from blood flow to allow the local delivery

of therapeutic agents to the peripheral and eventually the coronary

vasculature. The OPC has the ability to create a localized treatment

chamber for the delivery of various types of therapeutic agents,

including pharmaceuticals, live cells and biologics, to treat a

variety of disease states and place the agent circumferentially into

the vasculature of the treatment chamber.

An example of one of the vascular disease states the OPC has the

potential to address is restenosis, which occurs in approximately

30-40 percent of all patients treated with procedures such as

atherectomy, and balloon angioplasty. "These procedures actually

create a controlled injury to the arterial vessel wall, causing a

cascade of events that result in restenosis," explained Rex Teeslink,

MD, the inventor of the device. "This can occur in as little as six

months and requires surgical re-intervention."

The OPC is unique in its ability to measure pressure applied inside

the treatment chamber and its inflow and outflow ports for chamber

evacuation, filling and flushing. The OPC affords clinicians

substantial procedural control along with the ability to select the

treatment agent and volume along with preventing systemic release of

the treatment agent.

In 2012, ACT raised a total of $2.98 million in Series A equity

financing through an investment consortium in Chattanooga, TN. This

has fueled the company's research and development, allowing

substantial progress on the OPC while continuing to build a

development pipeline of devices designed to improve endovascular

debulking procedures (the clearing of blocked blood vessels).

About ACTAdvanced Catheter Therapies

(www.acatheter.com(http://ctt.marketwire.com/?release=900123&id=1720747&type=1&url=http%3a%2f%2fwww.acatheter.com%2f)),

an early stage research and development medical device company, has a

portfolio of innovative catheter technologies targeting vascular

disease including thrombosis, inflammation, occlusions and restenosis.

About Hatch Medical, L.L.C.Hatch Medical

(www.hatchmedical.com(http://ctt.marketwire.com/?release=900123&id=1720750&type=1&url=http%3a%2f%2fwww.hatchmedical.com%2f))

is an incubator and broker of medical device technologies, assisting

clients in the sale, license or distribution of valuable medical

device assets.

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