Under the Symbol:
Avinger Announces Distribution Agreement for Hong Kong
Tuesday, June 4, 2019 7:00 AM
Expands Market Presence in Asia Pacific Region
REDWOOD CITY, CA / ACCESSWIRE / June 4, 2019 / Avinger, Inc. (NASDAQ: AVGR), a commercial-stage medical device company marketing the first-ever image-guided, catheter-based system for diagnosis and treatment of Peripheral Artery Disease (PAD), today announced it has entered into an exclusive distribution agreement with Integmed Ltd. for the sales and marketing of Avinger's Lumivascular products in Hong Kong. Initial product shipments are anticipated during the current quarter and first patient treatments in Hong Kong are expected to commence in the third quarter of 2019.
Integmed is a leading distributor of medical devices in Hong Kong for the treatment of cardiovascular disease, including a portfolio of complementary products for the endovascular treatment of arterial disease. Founded in 2003, Integmed now supplies products from 16 multinational companies, including a number of global leading medical technology brands. Additional information about Integmed can be found at http://www.integmed.com.hk.
"We are excited to enter the Hong Kong market through our new distribution relationship with Integmed, a highly regarded distributor with directly relevant clinical experience," said Jeff Soinski, Avinger's President and CEO. "PAD is a global health problem that affects over 200 million people worldwide and is a leading cause of atherosclerotic vascular morbidity. By expanding availability of our proprietary Lumivascular products to new geographic markets, we can provide important new clinical tools for physicians to safely and effectively treat their patients. We believe that our partnership with Integmed will enable a positive impact on the treatment of peripheral arterial disease in Hong Kong and support the growth of our business as we expand to new markets."
Atherectomy is a minimally invasive treatment for PAD in which a catheter-based device is used to remove plaque from a blood vessel. Lumivascular technology allows physicians, for the first time ever, to see from inside the artery during an atherectomy procedure by using an imaging modality called optical coherence tomography, or OCT, that is displayed on Avinger's proprietary Lightbox console. Physicians performing atherectomy with other devices must rely solely on X-ray as well as tactile feedback to guide their interventions while treating complicated arterial disease. With the Lumivascular approach, physicians can more accurately navigate their devices and treat PAD lesions, thanks to the real-time OCT images generated from inside the artery, without exposing healthcare workers and patients to the negative effects of ionizing radiation.
About Avinger, Inc.
Avinger is a commercial-stage medical device company that designs and develops the first-ever image-guided, catheter-based system that diagnoses and treats patients with peripheral artery disease (PAD). PAD is estimated to affect over 12 million people in the U.S. and over 200 million worldwide. Avinger is dedicated to radically changing the way vascular disease is treated through its Lumivascular platform, which currently consists of the Lightbox imaging console, the Ocelot family of chronic total occlusion (CTO) catheters, and the Pantheris® family of atherectomy devices. Avinger is based in Redwood City, California. For more information, please visit www.avinger.com.
This news release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 and the Private Securities Litigation Reform Act of 1995. These forward-looking statements include statements regarding Avinger's the benefits of the next-generation Pantheris, reduction in radiation exposure, data supporting the use of Pantheris, and increased clinical applicability of Pantheris technology. Such statements are based on current assumptions that involve risks and uncertainties that could cause actual outcomes and results to differ materially. These risks and uncertainties, many of which are beyond our control, include our dependency on a limited number of products; our ability to demonstrate the benefits of our Lumivascular platform; the resource requirements related to Pantheris; the outcome of clinical trial results; potential exposure to third-party product liability, intellectual property and other litigation; lack of long-term data demonstrating the safety and efficacy of our Lumivascular platform products; experiences of high-volume users of our products may lead to better patient outcomes than those of physicians that are less proficient; reliance on third-party vendors; dependency on physician adoption; reliance on key personnel; and requirements to obtain regulatory approval to commercialize our products; as well as the other risks described in the section entitled "Risk Factors" and elsewhere in our quarterly report on Form 10-Q filed with the Securities and Exchange Commission on May 8, 2019. These forward-looking statements speak only as of the date hereof and should not be unduly relied upon. Avinger disclaims any obligation to update these forward-looking statements.
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SOURCE: Avinger, Inc.