Cardica Appoints Dr. Lee Swanstrom as Medical Director

REDWOOD CITY, Calif., Oct. 19, 2011 /PRNewswire/ -- Cardica, Inc. (Nasdaq: CRDC) today announced that Lee Swanstrom, M.D., F.A.C.S., has been named medical director of the company.

In this role, Dr. Swanstrom will assist Cardica in developing its clinical and launch strategy for its MicroCutter products and will train surgeons around the world on the use and benefits of the MicroCutter™ XPRESS™ 30, the first and only true multifire stapling device for laparoscopic surgery. In addition, he will provide strategic input on Cardica's pipeline of devices and their applications in various surgical and laparoscopic procedures.  

"Dr. Swanstrom is a widely-respected, world-renowned laparoscopic surgeon, who brings clinical expertise and an established rapport with surgeons across the country," said Bernard A. Hausen, M.D., Ph.D., president and chief executive officer of Cardica. "We believe that his experience leading a highly sought-after fellowship program, and as a guest lecturer and hands-on skills instructor in courses around the world, will help strengthen our ability to reach and train surgeons on our planned MicroCutter product line."

Dr. Swanstrom is a board-certified surgeon with special interests in esophageal diseases, minimally invasive surgery and endoscopy. Dr. Swanstrom is a renowned researcher and innovator in the field of minimally invasive surgery. He is a Clinical Professor of Surgery at Oregon Health and Sciences University, serves as senior partner with The Oregon Clinic's Gastrointestinal & Minimally Invasive Surgery Division, is the president of the Foundation for Surgical Innovation and Education, and is also program director for postgraduate fellowships at the Providence Health System in Portland.  Additionally, he is very involved in international teaching, clinical and research positions and most recently was appointed Chief Innovations Officer at the University of Strasbourg's IHU (University Hospitals Institutes).

Dr. Swanstrom has published more than 200 articles in peer-reviewed journals, has written chapters in 45 books and holds seven patents for surgical/medical devices. Additionally, he is on the editorial boards of numerous medical/surgical journals and is currently Co-editor-in-Chief of Surgical Innovation. Dr. Swanstrom was appointed to the American Board of Surgery in 2010 and is active within the Society of American Gastrointestinal Endoscopic Surgeons (SAGES), serving on the Executive Committee within SAGES in a variety of roles, including past president. He is also president of the Foundation for Surgical Innovation and Education. He is a founder and currently the Board Chairman of the Fellowship Council. He received his M.D. from Creighton University.

"In my daily life as a minimally invasive surgeon and surgical educator, I am constantly in search of the next best technologies -- ones that will further the promise of less invasive therapies for patients and that will make the practice of surgery easier and more efficient for both surgeon and patient," commented Dr. Swanstrom. "Cardica's MicroCutter platform, to me, is truly a paradigm shift in this direction. I am excited about the opportunity to be directly involved in the further development of this product line and in the introduction of it to a surgical market that is truly primed for such an innovation."

About Cardica

Cardica designs and manufactures proprietary stapling and anastomotic devices for cardiac and laparoscopic surgical procedures. Cardica's technology portfolio is intended to minimize operating time and enable minimally-invasive and robot-assisted surgeries. Cardica manufactures and markets its automated anastomosis systems, the C-Port® Distal Anastomosis Systems and PAS-Port® Proximal Anastomosis System, for coronary artery bypass graft (CABG) surgery and has shipped over 36,000 units throughout the world. In addition, Cardica is developing the Cardica MicroCutter XPRESS™ 30, a true multi-fire laparoscopic stapling device designed to be used in a variety of procedures, including bariatric, colorectal, thoracic and general surgery. The Cardica MicroCutter products require 510(k) review and are not yet commercially available in the U.S. 

Forward-Looking Statements

This press release contains "forward-looking" statements, including all statements regarding the further development and commercialization of Cardica's MicroCutter product line. Any statements contained in this press release that are not historical facts may be deemed to be forward-looking statements. The words and phrases "will," "believe," "look forward," and similar expressions are intended to identify forward-looking statements. There are a number of important factors that could cause Cardica's results to differ materially from those indicated by these forward-looking statements, including that any future Cardica products face development, regulatory, reimbursement and manufacturing risks, as well as other risks detailed from time to time in Cardica's reports filed with the U.S. Securities and Exchange Commission, including its Form 10-K for the fiscal year ended June 30, 2011. Cardica expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein. You are encouraged to read Cardica's reports filed with the U.S. Securities and Exchange Commission, available at www.sec.gov.

SOURCE Cardica, Inc.