WALTHAM, Mass.--(BUSINESS WIRE)--Corindus Vascular Robotics, Inc. [NYSE American: CVRS], a leading developer of precision vascular robotics, announced today that the CorPath GRX System will be showcased for peripheral applications at the 2018 Amputation Prevention Symposium in Chicago, IL. Jihad Mustapha, M.D., Interventional Cardiologist and AMP course director, will moderate an educational session entitled "Robotic Utilization in CLI in 2018: Protect Your Staff, Protect Yourself" on Friday, August 10th at 4:00 p.m. CT. During this session, Dr. Mustapha will share and discuss a previously taped procedure in which he used the CorPath GRX System during a robotic-assisted critical limb ischemia (CLI) case he performed at the first U.S. outpatient CLI center, the Advanced Cardiac & Vascular Amputation Prevention Center in Grand Rapids, MI, which was opened by Dr. Mustapha and Dr. Fadi Saab in February 2018.
"CorPath GRX offers discrete movements with precise control of interventional devices, offering advanced treatment options for patients suffering from CLI while reducing physician fatigue," said Dr. Jihad Mustapha. "I believe robotics will enable physicians to perform more CLI procedures and will be a critical component to the future treatment paradigm for limb salvage patients. I look forward to educating my peers and the CLI community on my experience with robotic-assisted CLI."
Corindus will feature robotic-assisted peripheral vascular intervention (PVI) in Pavilion B with an opportunity for attendees to experience hands-on demonstrations of the CorPath GRX System with an advanced simulator. During exhibit hours, the Corindus Research and Development team will host a Next-Generation Robotics Showcase in Pavilion B for physicians to participate in development initiatives to capture manual device manipulation data. This data will help support the advancement of current robotic capabilities as well as feed into future technology advancements. AMP attendees are invited to pre-register for a demonstration and the Next-Generation Robotics Showcase by visiting www.corindus.com/AMP2018.
Corindus received 510(k) clearance for use of its CorPath GRX System in peripheral procedures in February 2018, broadening the capabilities of the CorPath robotic technology platform from exclusively treating coronary artery disease (CAD) to include peripheral artery disease (PAD), a disease of blood vessels outside the heart that commonly affects arteries carrying blood to the lower extremities. Critical limb ischemia (CLI), a form of PAD, is associated with excessively high risk for cardiovascular events, including myocardial infarction, and death. Mortality rates following diagnosis of CLI are as high as 20% after 6 months and 50% after 5 years.1 It is estimated that total hospital costs associated with lower-extremity amputation exceed the cost of revascularization by approximately $10,000.2
About Corindus Vascular Robotics, Inc.
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 and percutaneous vascular procedures. 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.
Examples of such statements include statements regarding or such as:
- That CorPath GRX offers advanced treatment options for patients suffering from CLI while reducing physician fatigue;
- that robotics will enable physicians to perform more CLI procedures and will be a critical component to the future treatment paradigm for limb salvage patients; and
- that the data collected from physicians participating in Next-Generation Robotics Showcase will help support the advancement of current robotic capabilities as well as feed into future technology advancements.
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: our ability to expand our technology platform and achieve the advances necessary for telestenting and remote procedures, including in humans; our ability to expand our technology platform for use in other segments of the vascular intervention market, including neurointerventional and other more complex cardiac interventions; obtaining necessary regulatory approvals for the use on humans and marketing of our products in the United States and in other countries; risks associated with market acceptance; our ability to enforce our intellectual property rights; our need for additional funds to support our operations; factors relating to engineering, regulatory, manufacturing, sales and customer service challenges; and potential safety and regulatory issues that could slow or suspend our sales. 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.
1 Critical Limb Ischemia: Current Trends and Future Directions. Martin Teraa, Michael S. Conte, Frans L. Moll, Marianne C. Verhaar. J Am Heart Assoc. 2016 Feb; 5(2): e002938. Published online 2016 Feb 23. doi: 10.1161/JAHA.115.002938 PMCID: PMC4802465.
2 Decision Resources Group