Biosensors Starts Shipments of Axxion(TM) and Boosts European Distribution Network
Agreements Established In Key Markets to Accelerate Drug-Eluting Stent Sales;
Biosensors Expects to Capture Meaningful DES Market Share
SINGAPORE, Aug. 30 /Xinhua-PRNewswire-FirstCall/ -- Biosensors International Group, Ltd. (Bloomberg: BIG SP), today announced several new agreements with leading medical device distributors in key European cardiology markets. With a distribution reach of more than 15 countries in Europe, the three agreements with Krauth Medical in Germany, Invatec in Italy and Palex Medica in Spain will serve to strengthen Biosensors' access to key European markets. Mr Jeffrey B. Jump, Managing Director of Biosensors Europe commented: ''We are pleased that we have been able to attract top-tier distributors with proven track records of gaining significant stent market shares in Europe. Biosensors' agreements have the potential to generate substantial sales of Axxion(TM) units in Germany, Italy and Spain at attractive prices to Biosensors." Dr Stefan Widensohler, CEO of Krauth Medical, and Vice Chairman of the German Federal Association for Medical Technology said, ''We are excited to have the opportunity to commercialize Axxion(TM) in Germany, Europe's largest market for cardiac stents. Krauth has been instrumental in developing the European market for bare metal stents over the last 25 years. With Axxion(TM), we look forward to continuing our tradition of distributing high-quality, innovative devices in interventional cardiology." Axxion(TM) which elutes the Paclitaxel drug without using a polymer, became Biosensors' first drug-eluting stent ("DES") to be launched within the European Union for the treatment of coronary artery disease after it received Conformite Europeene (''CE'') Mark for Axxion(TM) in mid July 2005. Over just a month since its launch, Biosensors has already made several shipments of Axxion(TM) into the European market. DES revenues have increased significantly as a result, compared to the same period in the first quarter of FY2006. ''This favourable response over several weeks is very encouraging and is a testament of the market potential for Axxion(TM),'' said Yoh-Chie Lu, Chairman and CEO of Biosensors. ''We are confident that these new distributors, coupled with the existing network will undoubtedly allow Biosensors to capture a meaningful market share in the next 12 months while waiting for our second and highly anticipated flagship DES, the BioMatrix(TM). BioMatrix(TM), which offers highly differentiated product features including bioresorbable polymer, will offer even stronger market appeal when it is launched.'' Prof Eberhard Grube, who presented Biosensors' 12-month clinical trial results of its BioMatrix(TM) DES (known as the STEALTH trial) at Euro PCR in May 2005, spoke strongly of its positive clinical results and expressed confidence that the performance of BioMatrix(TM) is comparable, if not better than competing products in the market. The BioMatrix(TM) DES incorporates the Group's proprietary anti-restenotic drug, Biolimus A9TM, bioresorbable polymer, S-StentTM and stent delivery catheter, all of which have been developed in-house. Biosensors believes that the use of a bioresorbable polymer can potentially reduce concerns about the long term effects of polymer coatings. Biosensors submitted the BioMatrix(TM) for CE Mark regulatory approval in April this year, and expects to receive it by the first half of calendar 2006. About Biosensors International Group, Ltd. Biosensors develops, manufactures and markets innovative medical devices used in interventional cardiology and critical care procedures. Biosensors is well-positioned to emerge as a leader in drug-eluting stents, an evolving therapy that is rapidly gaining market share from traditional therapies such as bare-metal stenting and open-heart surgery. Biosensors has internally developed technology to address each component of a drug-eluting stent system, including a stent, a stent delivery catheter, a bioresorbable polymer and a proprietary anti-restenotic drug. It is pursuing two separate drug-eluting stent programs, BioMatrix(TM) and Axxion(TM), and has licensed aspects of its drug-eluting stent technology to four companies. Forward Looking Statements Certain statements herein include forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements generally can be identified by the use of forward-looking terminology, such as "may," "will," "expect," "intend," ''estimate,'' ''anticipate,'' ''believe,'' ''project'' or ''continue'' or the negative thereof or other similar words. All forward-looking statements involve risks and uncertainties, including, but not limited to, customer acceptance and market share gains, competition from companies that have greater financial resources; introduction of new products into the marketplace by competitors; successful product development; dependence on significant customers; the ability to recruit and retain quality employees as Biosensors grows; and economic and political conditions globally. Actual results may differ materially from those discussed in, or implied by, the forward-looking statements. The forward-looking statements speak only as of the date of this release and Biosensors assumes no duty to update them to reflect new, changing or unanticipated events or circumstances. Media Contact Information WeR1 Consultants Pte Ltd Mona Leong / Stephen Chen / Reshma Jain Tel: +65-6737-4844 / Hp: +65-9187-4449 Email: email@example.com / firstname.lastname@example.org / email@example.com Biosensors International Group Ms Tina Lim, Executive, Corporate Communications Tel: +65-6213-5712 Email: firstname.lastname@example.org For investor related enquiries, please write to email@example.com
SOURCE Biosensors International Group, Ltd.
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