ALBANY, N.Y., Sept. 23, 2013 (GLOBE NEWSWIRE) -- AngioDynamics (Nasdaq:ANGO), a leading provider of innovative, minimally invasive medical devices for vascular access, surgery, peripheral vascular disease and oncology, and Interface Biologics Inc. (IBI), a privately-held commercial stage developer of transformative biomedical-polymer products, announced AngioDynamics' exclusive Endexo technology licensing agreement for peripherally inserted catheters (PICCs), ports and dialysis catheters, now includes Central Venous Catheters (CVCs).
Endexo technology is a permanent, non-eluting integral polymer that imparts devices with a passive character demonstrated to have such benefits as reduced platelet and reduced thrombus accumulation on medical devices based on in vitro testing. In contrast to thrombus-resistant coatings or impregnated alternatives, which may be superficial and/or transient, Endexo is incorporated directly into the base polymer to create a material that provides long-term utility and durability without impacting the base underlying mechanical properties of the medical device. The Endexo technology also has significant manufacturing advantages over noted thrombus resistant alternatives as it can be incorporated directly into existing manufacturing processes.
AngioDynamics' BioFlo PICCs with Endexo technology received U.S. Food and Drug Administration clearance in September 2012, and it is similarly approved in Europe and Canada. In August, the Company's BioFlo Port with Endexo technology also received FDA clearance.
"We are pleased to build on our BioFlo platform's success by extending our agreement with Interface Biologics to include CVCs," said Chuck Greiner, Senior Vice President of AngioDynamics' Global Vascular Access Franchise. "We see opportunity in the $420 million CVC market, and similar to our other Vascular Access products, a strong trend toward healthcare solutions that provide protection vs. thrombus and infection. The development of a BioFlo CVC with Endexo is consistent with our plan to bring disruptive technologies into the Vascular Access space, allowing us to offer more options to customers and improve our position with GPOs/IDNs."
"We have developed a strong working relationship with AngioDynamics during the last few years and are excited about the BioFlo PICC's reported clinical benefits and resultant commercial traction," said Tom Reeves, President and CEO of Interface Biologics "Extending our agreement to include CVCs exemplifies both our commitment to AngioDynamics and their confidence in the ability of our Endexo additives to improve the safety and efficacy of their products."
AngioDynamics Inc. is a leading provider of innovative, minimally invasive medical devices used by professional healthcare providers for vascular access, surgery, peripheral vascular disease and oncology. AngioDynamics' diverse product lines include market-leading ablation systems, fluid management systems, vascular access products, angiographic products and accessories, angioplasty products, drainage products, thrombolytic products and venous products. More information is available at www.AngioDynamics.com.
About Interface Biologics Inc.
Interface Biologics (IBI) is an early commercial stage privately held company that develops transformative biomedical polymer technology to improve the safety and effectiveness of medical devices. IBI's primary technology focus areas are anti-thrombogenic devices that reduce thrombosis and programmable combination drug delivery devices. For more information about Interface Biologics, please visit www.interfacebiologics.com
AngioDynamics, the AngioDynamics logo and BioFlo are trademarks and/or registered trademarks of AngioDynamics Inc., an affiliate or subsidiary. Endexo is a trademark of Interface Biologics.
This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements regarding AngioDynamics' expected future financial position, results of operations, cash flows, business strategy, budgets, projected costs, capital expenditures, products, competitive positions, growth opportunities, plans and objectives of management for future operations, as well as statements that include the words such as "expects," "reaffirms," "intends," "anticipates," "plans," "believes," "seeks," "estimates," "optimistic," or variations of such words and similar expressions, are forward-looking statements. These forward looking statements are not guarantees of future performance and are subject to risks and uncertainties. Investors are cautioned that actual events or results may differ from AngioDynamics' expectations. Factors that may affect the actual results achieved by AngioDynamics include, without limitation, the ability of AngioDynamics to develop its existing and new products, technological advances and patents attained by competitors, future actions by the FDA or other regulatory agencies, domestic and foreign health care reforms and government regulations, results of pending or future clinical trials, overall economic conditions, the results of on-going litigation, the effects of economic, credit and capital market conditions, general market conditions, market acceptance, foreign currency exchange rate fluctuations, the effects on pricing from group purchasing organizations and competition, the ability of AngioDynamics to integrate purchased businesses, including Navilyst Medical and its products, R&D capabilities, infrastructure and employees as well as the risk factors listed from time to time in AngioDynamics' SEC filings, including but not limited to its Annual Report on Form 10-K for the year ended May 31, 2013. AngioDynamics does not assume any obligation to publicly update or revise any forward-looking statements for any reason.
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