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
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
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
''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.
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SOURCE Biosensors International Group, Ltd.