Accumetrics Closes 2010 With Positive Outlook

Pharmaceutical collaboration, GRAVITAS clinical trial results, distribution agreements, and capital financing position Company for continued growth in 2011

Dec 07, 2010, 08:30 ET from Accumetrics

SAN DIEGO, Dec. 7, 2010 /PRNewswire/ -- Accumetrics, Inc., a privately-held developer and marketer of the VerifyNow® System, the first rapid and easy-to-use point-of-care system for measuring platelet reactivity to multiple antiplatelet agents, closes 2010 with continued positive medical community and industry support surrounding the importance of measuring response to antiplatelet therapy.  The Company achieved several important milestones during 2010, including significant revenue growth over 2009, continued global commercialization, certification to ISO 13485 and CMDCAS, and the completion of a major capital financing.

In 2010, Accumetrics signed a strategic collaboration with Daiichi Sankyo, Inc. and Eli Lilly and Company, to raise awareness about antiplatelet therapy and the role of platelet function testing to help physicians assess each individual patient's response to antiplatelet medications. Clinical data and study results, including the GRAVITAS (Gauging Responsiveness With A VerifyNow Assay-Impact On Thrombosis And Safety) trial as well as a 2,000+ patient meta-analysis, reinforced the need for platelet reactivity testing for patients who undergo a percutaneous coronary intervention (PCI). GRAVITAS showed that 41% of PCI patients dosed with Plavix® had high residual platelet reactivity as measured by the VerifyNow P2Y12 Test, and that a uniform treatment strategy of doubling the dose of Plavix for 6 months did not result in improved outcomes in these patients.  Clinical data presented in 2010 also demonstrated that patients with high residual platelet reactivity, as measured by the VerifyNow P2Y12 Test, were significantly more likely to have a major adverse cardiovascular event than patients without high on-treatment platelet reactivity.

"2010 was a year of greater clinical understanding about the need for individualized treatment strategies for cardiovascular patients and the importance of continually assessing response to antiplatelet therapy," said Timothy I. Still, President and CEO of Accumetrics. "As market dynamics continue to shift with the introduction of new antiplatelet medications, and with Plavix going generic in the coming year, Accumetrics is poised to provide physicians with tools to support cost-effective clinical decision making."

Accumetrics experienced strong growth in 2010 across all of its sales channels.  The Company expects to conclude the year with roughly $18 million in annual revenue, and expects to be profitable in the second half of 2011. Accumetrics recently added Medicos Hirata in Japan and Science International Corporation in China to its global distribution network, which now includes partnerships with over 40 leading distributors who provide local representation in over 60 countries spanning Europe, the Americas, Asia-Pacific and the Middle East.  

Company financing in 2010 included a raise of an additional $7 million, securing a total of $24 million in new capital since 2009.  Proceeds are expected to take the company to profitability during 2011 and will fund a number of key milestones that will maintain Accumetrics' position as a diagnostic leader in the point-of-care market, including expanded claims for existing products, new product development and continued expansion of global commercialization efforts. 

About Accumetrics

Accumetrics is committed to advancing medical understanding of platelet function and enhancing quality of care for patients receiving antiplatelet therapies by providing industry-leading and widely accessible diagnostic tests for rapid platelet function assessment.

Accumetrics' VerifyNow System is the first rapid and easy-to-use platform to help physicians determine an individual's response to multiple antiplatelet agents. Addressing every major antiplatelet drug, including FDA-cleared products for aspirin, P2Y12 inhibitors (e.g. prasugrel (Effient®) and clopidogrel (Plavix®)), and GP IIb/IIIa inhibitors (e.g. ReoPro® and Integrilin®), the VerifyNow System provides valuable information to help physicians make informed treatment decisions. For more information about the Company and its products, visit www.accumetrics.com.

The Accumetrics logo and VerifyNow are registered trademarks of Accumetrics, Inc. ReoPro is a registered trademark of Centocor, Inc. Integrilin is a registered trademark of Millennium Pharmaceuticals. Plavix is a registered trademark of sanofi-aventis. Effient is a registered trademark of Eli Lilly and Company.

CONTACT:  

Megan Rusnack

Lippert/Heilshorn & Associates

212-838-3777

mrusnack@lhai.com


Timothy I. Still

President and CEO

Accumetrics

858-404-8260

press@accumetrics.com



SOURCE Accumetrics



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