Magnetecs Sells Robotic Catheter Guidance System to Yonsei University Severance Hospital in Korea

First Sale in Asia of the Magnetecs Robotic Catheter Guidance Control and Imaging (CGCI) System

INGLEWOOD, Calif.--()--Magnetecs Corporation, a designer and manufacturer of robotic catheterization control systems for minimally invasive surgical procedures, today reported the sale of the Company’s Robotic Catheter Guidance Control and Imaging (CGCI) system for installation at Yonsei University Severance Hospital in Seoul, South Korea. This transaction represents the first sale in Asia of the Magnetecs CGCI system.

Magnetecs expects to complete the installation of the CGCI system at Yonsei University during the fourth quarter of 2011. Clinical trials will be conducted at the hospital using CGCI for mapping and ablation procedures performed for patients who have arrhythmia. These clinical trials will be utilized for regulatory submission of the robotic CGCI system to the Korea Food and Drug Administration.

Magnetecs previously installed its CGCI system at Hospital Universitario La Paz in Madrid, Spain, where the first phase of human clinical trials for patients with arrhythmia has been completed. In this study, a highly detailed map of the heart was created using the CGCI system. The primary outcome of the study measures intracardiac anatomic site target acquisition and repetition of acquisition. A description of the study can be found on the Magnetecs website, www.magnetecs.com, and the ClincalTrials.gov website: http://clinicaltrials.gov/ct2/show/NCT01222156?term=remote+navigation&rank=1.

Magnetecs has also completed a definitive agreement to install its CGCI system at Mount Sinai Medical Center in New York City in 2012. In Europe, the Company has completed a definitive agreement to install its CGCI system at Na Homolce Hospital in Prague, Czech Republic. Several additional installations are currently planned in the U.S., U.K., Canada, Italy, Israel, Scandinavia, and Asia.

“Along with our partners at La Paz University Hospital in Madrid, Yonsei University will be established as an early leader in the development of robotic procedures in the field of electrophysiology using our advanced technology for electromagnetic catheter guidance and control,” said Josh Shachar, CEO of Magnetecs Corporation. “These cornerstone installations are expected to continue proving the efficacy, safety, and operational efficiency of CGCI.”

“In addition to the research we are conducting at La Paz University Hospital and now planning at Yonsei University, we are developing protocols to conduct extensive clinical trials at Mount Sinai Medical Center in New York City and in several additional locations in the United States, Canada, and Europe,” added Dr. Eli Gang, M.D., Chief Medical Officer at Magnetecs, Clinical Professor of Medicine at the UCLA Medical School, and Director of the Clinical Electrophysiology Laboratory at Brotman Hospital in Los Angeles. “As the number of CGCI installation sites expands in accordance with our global regulatory strategy, we look forward to the commercialization of the robotic CGCI system so this technology can reach arrhythmia patients around the world,” concluded Dr. Gang.

ABOUT CGCI

CGCI is a unified system for robotic guidance, control and imaging of catheters and other advanced tools used in electrophysiological and other procedures. Previous magnetic guidance systems use large, independent magnets which emit a substantial and continuous magnetic field, have limited control capabilities, and require shielding. In contrast, Magnetecs’ CGCI system creates an electromagnetic field that is largely contained in the electromagnetic array and focused in an area no larger than the patient’s chest. CGCI only emits a magnetic field when in use and can dynamically adjust and manipulate this field to safely and reliably achieve unprecedented three-dimensional catheter-guidance precision and responsiveness. The CGCI system is integrated with sophisticated cardiac mapping and navigation technologies, including X-ray, intracardiac echocardiography (ICE), and other advanced electrophysiology lab technologies and equipment. Magnetecs is planning additional applications of the Company’s electromagnetic technology in the fields of interventional cardiology, gastroenterology, neurology, and gynecology.

ABOUT YONSEI UNIVERSITY

Yonsei University in Seoul, South Korea, is a leading institution of higher education and research in Asia. The oldest private university in Korea, Yonsei University was established in 1885 with the mission to educate leaders who will contribute to humanity in the spirit of “truth and freedom.” The university has 22 colleges, 18 graduate schools, and 133 subsidiary institutions hosting approximately 30,000 students from Korea and around the world.

ABOUT MAGNETECS

Magnetecs Corporation designs and manufactures a unique and highly efficient robotic catheterization control system for minimally invasive surgical procedures and the advanced specialized tools used in these procedures. The Company believes that its proprietary Catheter Guidance Control and Imaging (CGCI) system will greatly improve the efficacy, safety, and cost efficiency of many common minimally invasive surgeries. Magnetecs has established advanced electrophysiology surgical suites for CGCI development and testing at the Company’s headquarters facility in Inglewood, California. For additional information on CGCI and Magnetecs Corporation, please visit the Company’s website at www.magnetecs.com.

Contacts

Magnetecs Corporation
Daniel Saks, Senior Vice President, Corporate Affairs
(310) 670-7700

Release Summary

Magnetecs electrophysiology remote navigation catheter mapping and ablation system for atrial fibrillation sold to Yonsei University in Seoul, South Korea.

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Contacts

Magnetecs Corporation
Daniel Saks, Senior Vice President, Corporate Affairs
(310) 670-7700