IRVINE, Calif.--(BUSINESS WIRE)--Endologix, Inc. (NASDAQ: ELGX), a developer and marketer of innovative treatments for aortic disorders, today announced that it has signed a joint research and development agreement, as well as an exclusive distribution agreement, with Japan Lifeline Co., Ltd. (“JLL”) pertaining to the development and distribution of novel endovascular stent graft systems for the treatment of thoracic aortic diseases.(the “Systems”).
Under the terms of these agreements, the two companies will jointly invest in the development, clinical research, and commercialization of the Systems. JLL has exclusive distribution rights to the Systems in Japan, and Endologix intends to commercialize and sell the Systems through its existing global sales force and distribution partners in countries other than Japan. Endologix anticipates that the global market for thoracic devices could reach $900 million by 2022, and represents a significant growth opportunity for the company.
”JLL is our exclusive distributor in Japan, and it has done an outstanding job supporting physicians and capturing market share in Japan with our AFX device for the treatment of abdominal aortic aneurysms. We are currently working with JLL on a full market release of our AFX2 bifurcated endograft system in Japan after receiving approval for that device earlier this year. We also anticipate Japanese market launches of Ovation and Nellix in the future. These new agreements with JLL will expand our relationship to include thoracic devices and enable us to provide a complete range of endovascular aortic devices to physicians worldwide,” said John McDermott, Chief Executive Officer of Endologix, Inc.
Endologix, Inc. develops and manufactures minimally invasive treatments for aortic disorders. The Company's focus is endovascular stent grafts for the treatment of abdominal aortic aneurysms (AAA). AAA is a weakening of the wall of the aorta, the largest artery in the body, resulting in a balloon-like enlargement. Once AAA develops, it continues to enlarge and, if left untreated, becomes increasingly susceptible to rupture. The overall patient mortality rate for ruptured AAA is approximately 80%, making it a leading cause of death in the U.S. For more information, visit www.endologix.com.
About Japan Lifeline Co., Ltd.
Japan Lifeline (JLL) has a 36-year history as a manufacturer, importer and distributor of quality medical products. JLL has a strong track record of success in building and expanding markets with unique products from some of the world's leading medical technology companies. Japan Lifeline is a publicly traded company, ticker symbol 7575 (TSE 1st Section). For more information, visit www.japanlifeline.com.
Cautions Regarding Forward-Looking Statements
Except for historical information contained herein, this press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements generally can be identified by the use of words such as “anticipate,” “expect,” ‘plan,’ “could,” “may,”“will,” “believe,” “estimate,” “forecast,” “goal,” “project,” "continue," "outlook," “guidance,” "future,” other words of similar meaning and the use of future dates. Forward-looking statements used in this press release include, but are not limited to, statements regarding product research, development and commercialization, anticipated product markets, timing of anticipated product launches, and anticipated benefits and effects of our agreements with JLL, accuracy of which are necessarily subject to risks and uncertainties that may cause future events to differ materially and adversely from the statements contained herein. Some of the potential risks and uncertainties that could cause actual results to differ materially and adversely include Endologix’s ability to realize the expected benefits of the transactions with JLL, competition from other products, changes to applicable laws and regulations, product development risks, clinical trial risks (including clinical trial results), decisions and the timing of decisions of regulatory authorities regarding our current and future products, financial constraints, risks relating to foreign currency fluctuations, and a variety of other risks. Undue reliance should not be placed upon the forward-looking statements contained in this press release, which speak only as of the date of this press release. Endologix undertakes no obligation to update any forward- looking statements contained in this press release to reflect new information, events or circumstances after the date they are made, or to reflect the occurrence of unanticipated events. Please refer to Endologix's filings with the Securities and Exchange Commission including its Annual Report on Form 10-K for the year ended December 31, 2016, for more detailed information regarding these risks and uncertainties and other factors that may cause actual results to differ materially from those expressed or implied.