Hotspur Technologies Appoints Fred Khosravi Chairman of the Board

MOUNTAIN VIEW, Calif., June 14, 2011 /PRNewswire/ -- Hotspur Technologies, a leading developer of catheter-based technologies aimed at restoring blood flow for patients with obstructed vessels, today announced the appointment of Fred Khosravi to the newly-created position of Chairman of its Board of Directors. Mr. Khosravi, a Hotspur co-founder and current Director, will continue to work closely with the other Directors as well as Hotspur's President & CEO, Gwen Watanabe, in making the strategic decisions necessary to ensure continued successful commercialization of Hotspur's three FDA-cleared balloon technologies.

Mr. Khosravi, is a managing member of Incept LLC, the medical device incubator that helped to found Hotspur, and several other entrepreneurial endeavors focused on developing and commercializing novel medical device technologies helping to extend the envelope of life sciences innovation and patient care. Mr. Khosravi has led his companies, such as AccessClosure, Sadra Medical, Embolic Protection, Inc., and Confluent Surgical, to name a few, to commercial success either independently or through significant partnerships with multi-national medical device corporations. In addition to various Board memberships, Mr. Khosravi is currently President & CEO of Ostial Corporation.

"Hotspur Technologies is entering a compelling stage in its growth as sales begin on its first three products, the GPSCath™ Catheter, the IQCath™ Catheter, and the Keeper™ Catheter. I look forward to working closely with the Hotspur Board, Ms. Watanabe, and the tremendous team at Hotspur in their rapid growth while continuing to strengthen their pipeline of products, all of which they are accomplishing with the requisite capital efficiency for these demanding times to maintain their innovative leadership," stated Mr. Khosravi.

"Adding the Chairman role to our Board will strengthen our long-term corporate strategies while enabling the Company to continue charging ahead with commercializing these three revolutionary devices. Fred's vision will have a positive impact on Hotspur as we continue striving to improve patient care," said Ms. Watanabe.

Hotspur is currently commercializing its three products that have obtained 510(k) clearance from the U.S. Food and Drug Administration; the Company's IQCath™ Catheter has also received CE Mark approval. These devices are focused on solving some of the key challenges associated with restoring blood flow to blocked or low flow dialysis access grafts and fistulaes and peripheral vessels. The GPSCath™ Catheter is a two-in-one device that allows physicians to perform high-pressure angioplasty and inject physician-specified fluids such as contrast while maintaining guidewire position. The IQCath™ Balloon Dilatation Catheter is a specialty three-in-one device that allows the physician to perform angioplasty, embolectomy, and fluid injection with the same catheter while maintaining guidewire position; and the Keeper™ Embolectomy Catheter is a specialty two-in-one device that integrates an embolectomy balloon with the ability to inject physician-specified fluids while maintaining guidewire position.

About Hotspur Technologies

Founded in 2008 and located in Mountain View, California, Hotspur Technologies (www.hotspur-inc.com) is a leading developer of catheter-based technologies aimed at restoring blood flow for patients with obstructed vessels. The company's products are based on a unique technology that opens blood vessels more efficiently and less invasively. The firm's VisioValve™ technology serves as a launching point to improve patient outcome and physician efficiency. Hotspur is privately held. Its investors include ONSET Ventures, Finistere VenturesBioStar Ventures, Saratoga Ventures, Incept, GLevel, and Versant Ventures.

CONTACT: Will Martin, +1-770-639-2777, [email protected]

SOURCE Hotspur Technologies