Advanced Catheter Therapies, Inc. (ACT),
today announced that it has contracted with Hatch Medical, L.L.C.
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
"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
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
is an incubator and broker of medical device technologies, assisting
clients in the sale, license or distribution of valuable medical