Endologix Announces Collaboration Agreements with Japan Lifeline for the Development & Commercialization of Thoracic Endovasc...
September 11 2017 - 8:00AM
Business Wire
Endologix, Inc. (NASDAQ: ELGX), a developer and marketer of
innovative treatments for aortic disorders, today announced that it
has signed a joint research and development agreement, as well as
an exclusive distribution agreement, with Japan Lifeline Co., Ltd.
(“JLL”) pertaining to the development and distribution of novel
endovascular stent graft systems for the treatment of thoracic
aortic diseases.(the “Systems”).
Under the terms of these agreements, the two companies will
jointly invest in the development, clinical research, and
commercialization of the Systems. JLL has exclusive distribution
rights to the Systems in Japan, and Endologix intends to
commercialize and sell the Systems through its existing global
sales force and distribution partners in countries other than
Japan. Endologix anticipates that the global market for thoracic
devices could reach $900 million by 2022, and represents a
significant growth opportunity for the company.
”JLL is our exclusive distributor in Japan, and it has done an
outstanding job supporting physicians and capturing market share in
Japan with our AFX device for the treatment of abdominal aortic
aneurysms. We are currently working with JLL on a full market
release of our AFX2 bifurcated endograft system in Japan after
receiving approval for that device earlier this year. We also
anticipate Japanese market launches of Ovation and Nellix in the
future. These new agreements with JLL will expand our relationship
to include thoracic devices and enable us to provide a complete
range of endovascular aortic devices to physicians worldwide,” said
John McDermott, Chief Executive Officer of Endologix, Inc.
About Endologix
Endologix, Inc. develops and manufactures minimally
invasive treatments for aortic disorders. The Company's focus is
endovascular stent grafts for the treatment of abdominal aortic
aneurysms (AAA). AAA is a weakening of the wall of the
aorta, the largest artery in the body, resulting in a balloon-like
enlargement. Once AAA develops, it continues to enlarge
and, if left untreated, becomes increasingly susceptible to
rupture. The overall patient mortality rate for
ruptured AAA is approximately 80%, making it a leading
cause of death in the U.S. For more information,
visit www.endologix.com.
About Japan Lifeline Co., Ltd.
Japan Lifeline (JLL) has a 36-year history as a manufacturer,
importer and distributor of quality medical products. JLL has
a strong track record of success in building and expanding markets
with unique products from some of the world's leading medical
technology companies. Japan Lifeline is a publicly traded
company, ticker symbol 7575 (TSE 1st Section). For more
information, visit www.japanlifeline.com.
Cautions Regarding Forward-Looking Statements
Except for historical information contained herein, this press
release contains forward-looking statements within the meaning of
the Private Securities Litigation Reform Act of 1995. These
forward-looking statements generally can be identified by the use
of words such as “anticipate,” “expect,” ‘plan,’ “could,”
“may,”“will,” “believe,” “estimate,” “forecast,” “goal,” “project,”
"continue," "outlook," “guidance,” "future,” other words of similar
meaning and the use of future dates. Forward-looking statements
used in this press release include, but are not limited to,
statements regarding product research, development and
commercialization, anticipated product markets, timing of
anticipated product launches, and anticipated benefits and effects
of our agreements with JLL, accuracy of which are necessarily
subject to risks and uncertainties that may cause future events to
differ materially and adversely from the statements contained
herein. Some of the potential risks and uncertainties that could
cause actual results to differ materially and adversely include
Endologix’s ability to realize the expected benefits of the
transactions with JLL, competition from other products, changes to
applicable laws and regulations, product development risks,
clinical trial risks (including clinical trial results), decisions
and the timing of decisions of regulatory authorities regarding our
current and future products, financial constraints, risks relating
to foreign currency fluctuations, and a variety of other risks.
Undue reliance should not be placed upon the forward-looking
statements contained in this press release, which speak only as of
the date of this press release. Endologix undertakes no obligation
to update any forward- looking statements contained in this press
release to reflect new information, events or circumstances after
the date they are made, or to reflect the occurrence of
unanticipated events. Please refer to Endologix's filings with the
Securities and Exchange Commission including its Annual Report on
Form 10-K for the year ended December 31, 2016, for more
detailed information regarding these risks and uncertainties and
other factors that may cause actual results to differ materially
from those expressed or implied.
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INVESTORS:Endologix, Inc.Vaseem Mahboob, 949-595-7200CFO
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