Initial funding by The Leona M. and Harry B. Helmsley Charitable Trust to Mayo Clinic will support first step of multi-phase, multi-year development program
Waltham, MA – January 02, 2018 – Corindus Vascular Robotics, Inc. [NYSE American: CVRS], a leading developer of precision vascular robotics, announced today that it is working with Mayo Clinic in a preclinical study about use of telestenting. Telestenting, or the remote robotic treatment for percutaneous coronary intervention (PCI), may enable physicians to conduct procedures from virtually any location, opening opportunities for more patients globally to receive the benefits of this lifesaving procedure. The global shortage of PCI-capable operators is significant and continues to be a growing problem.
Mackram F. Eleid, M.D., Interventional Cardiologist, Mayo Clinic Department of Cardiovascular Medicine, Associate Professor of Medicine, Mayo Clinic College of Medicine, will serve as the Primary Investigator for the multi-phase study.
Mayo Clinic received a $3.3 million grant from The Leona M. and Harry B. Helmsley Charitable Trust to support the first step of a multi-phase, multi-year development program. Mayo Clinic is working with Corindus to explore telestenting as a solution to the geographic and workforce barriers that exist to provide needed PCI therapy to rural and underserved populations across the globe. Studies will help determine if robotic-assisted PCI can be performed safely and effectively using an off-site remote-controlled system. The CorPath GRX System is currently cleared for robotic-assisted PCI in the cardiac cath lab.
Mark Toland, President and CEO of Corindus, stated, "We are delighted to work on critical research for remote robotics with Mayo Clinic. While PCI is the initial focus for this development program, our long-term goal is to extend this capability to the remote treatment of endovascular disease and stroke. Corindus is committed to developing a high tech cardiovascular model that improves efficiency, integrates the latest technology, and ultimately improves patient care. Telestenting is at the core of this strategy."
Corindus Vascular Robotics, Inc. is a global technology leader in robotic-assisted vascular interventions. The company's CorPath® System is the first FDA-cleared medical device to bring robotic precision to percutaneous coronary interventions. During the procedure, the interventional cardiologist sits at a radiation-shielded workstation to advance guide catheters, stents, and guidewires with millimeter-by-millimeter precision. The workstation allows the physician greater control and the freedom from wearing heavy lead protective equipment that causes musculoskeletal injuries. CorPath GRX is the second generation robotic-assisted PCI technology offering enhancements to the platform by adding important key upgrades that increase precision, improve workflow, and extend the capabilities and range of procedures that can be performed robotically. With the CorPath System, Corindus Vascular Robotics brings robotic precision to interventional procedures to help optimize clinical outcomes and minimize the costs associated with complications of improper stent placement during manual procedures. Corindus stands behind its product with its unique $1,000 hospital credit "One Stent Program." For additional information, visit www.corindus.com, and follow @CorindusInc.
Forward Looking Statements
Statements made in this release that are not statements of historical or current facts are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements may involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of Corindus to be materially different from historical results or from any future results or projections expressed or implied by such forward-looking statements. Accordingly, readers should not place undue reliance on any forward looking statements. In addition to statements that explicitly describe such risks and uncertainties, readers are urged to consider statements in the conditional or future tenses or that includes terms such as "believes," "belief," "expects," "estimates," "intends," "anticipates" or "plans" to be uncertain and forward-looking. Forward-looking statements may include comments as to Corindus’ beliefs and expectations as to future events and trends affecting its business and are necessarily subject to uncertainties, many of which are outside Corindus’ control.
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Important factors that could cause actual results to differ materially from those indicated by such forward-looking statements are described in the sections titled "Risk Factors" in the company's filings with the Securities and Exchange Commission, including its most recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q, as well as reports on Form 8-K, including, but not limited to the following: the rate of adoption of our CorPath System and the rate of use of our cassettes; risks associated with market acceptance, including pricing and reimbursement; our ability to enforce our intellectual property rights; our need for additional funds to support our operations; our ability to manage expenses and cash flow; factors relating to engineering, regulatory, manufacturing, sales and customer service challenges; potential safety and regulatory issues that could slow or suspend our sales; and the effect of credit, financial and economic conditions on capital spending by our potential customers. Forward looking statements speak only as of the date they are made. Corindus undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise that occur after that date. More information is available on Corindus' website at http://www.corindus.com