Hatch Medical to Broker Next Generation AAA Technology Platform
DULUTH, Ga.--(BUSINESS WIRE)--Jun 6, 2012-- Hatch Medical, L.L.C., a medical device incubator and technology brokerage firm, announced today that it has recently entered into an agreement with Novotek Innovation Ltd. to broker the sale of its UK based company and novel technology for the endovascular repair of abdominal aortic aneurysms (AAA).
AAA is a weakening of the aorta wall, resulting in a balloon-like enlargement. Once an AAA develops, it continues to enlarge and, if left untreated, can become increasingly susceptible to rupture. The overall patient mortality rate for a ruptured AAA is approximately 75 per cent, making it a leading cause of death in the US. Image-guided endovascular aneurysm repair (EVAR) is the current standard for treatment of AAA and a number of commercial endografts are manufactured for this purpose. It is forecasted that the EVAR market could exceed US$1.5 billion in 2012.
However, limitations of existing endovascular technologies render them susceptible to migration of the endograft and "endoleak" due to either compromise of the seal between the endograft and the aortic wall (type 1 endoleak) or back flow into the sac from side branches (type 2 endoleak) with resultant treatment failure. Novotek has developed a technology platform that seals and fills the aortic aneurysm sac, preventing device migration and both types 1 and 2 endoleaks, potentially improving clinical outcomes.
Novotek's platform facilitates endovascular repair of an aneurysm by deploying an endograft tube within the aneurysm that also comprises an inflatable wall whereby the endograft can be inflated to grip and effectively seal the tube into position within the artery and prevent back flow from side branches. The proprietary technology also enables the treatment of a wider range of AAA anatomies, including those with unfavorable sealing zones that restrict the usefulness of the conventional EVAR devices available today.
"We're very excited to be working with the Novotek team and representing such a novel technology that will help resolve the many critical issues associated with today's endovascular aneurysm repair technologies", commented Steve Hvozda, Principal at Hatch Medical, L.L.C.
Prof. Peter Harris, vascular surgeon and Director of Novotek Ltd., commented, "We are very excited to offer an EVAR solution that will provide a clinically sound outcome by effectively stopping endoleaks and preventing graft migration." Mr. John Howard, Director of Novotek Ltd., added, "We are pleased to have the expertise of Hatch Medical on our side and look forward to working with Hatch to secure a partner that recognizes the remarkable potential of this technology." Novotek Innovation Ltd and associated technologies are available for acquisition through an exclusive agreement with Hatch Medical. For additional information on this, or other Hatch Medical, L.L.C.
products and services, e-mail the company at firstname.lastname@example.org.
This release and additional news about Hatch Medical can be obtained by visiting the company's web site at: http://www.hatchmedical.com.
CONTACT: Hatch Medical, L.L.C.
Steve Hvozda, 949-388-9335 Principal or Paul Gianneschi, 770-476-9940 Managing Principal KEYWORD: UNITED STATES NORTH AMERICA GEORGIA INDUSTRY KEYWORD: HEALTH CARDIOLOGY MEDICAL DEVICES SOURCE: Hatch Medical, L.L.C.
Copyright Business Wire 2012 PUB: 06/06/2012 07:51 AM/DISC: 06/06/2012 07:51 AM http://www.businesswire.com/news/home/20120606005064/