Endologix Approved to Manufacture Powerlink System at New Facility; Company's Voluntary Limited Recall Completed; Corrective Act
February 09 2006 - 9:00AM
Business Wire
Endologix, Inc. (Nasdaq:ELGX) today announced that the Company's
new, larger manufacturing facility has been approved by both the
State of California Food and Drug Branch and the U.S. Food and Drug
Administration (FDA) for the production of its Powerlink(R) System
for the minimally invasive treatment of patients with abdominal
aortic aneurysm (AAA). The Company has also completed the voluntary
limited product recall announced in December 2005. This action did
not involve any Powerlink devices already implanted in patients and
the Company reported no interruption in Powerlink System product
availability due to this action. "We worked interactively with the
FDA and we appreciate its timely review and approval of our new
facility, which was granted without any Form FDA-483 observations.
We believe we now have ample manufacturing capacity to handle
increased sales of our Powerlink System as we continue our U.S.
product launch," said Paul McCormick, president and CEO of
Endologix. "Further, our manufacturing, quality, engineering and
regulatory teams promptly identified and implemented manufacturing
improvements to the Powerlink delivery catheter tip and interacted
with FDA field investigators and the Agency to review the
corrective actions. We believe we acted responsibly and, needless
to say, are pleased with the cooperative efforts made by the FDA."
About Endologix Endologix, Inc. develops and manufactures minimally
invasive treatments for vascular diseases. Endologix's Powerlink
System is an endoluminal stent graft (ELG) for treating 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
75%, making it the thirteenth leading cause of death in the U.S. In
October 2004, Endologix received approval to market the Powerlink
in the U.S. Additional information can be found on Endologix's Web
site at www.endologix.com. Except for historical information
contained herein, this news release contains forward-looking
statements, the accuracy of which are necessarily subject to risks
and uncertainties, including risks related to changes in regulatory
requirements, and product liability claims, all of which are
difficult or impossible to predict accurately and many of which are
beyond the control of Endologix, all as more fully described in the
risk factors and other matters set forth in the Company's Annual
Report on Form 10-K for the year ended December 31, 2004, and the
Company's other filings with the Securities and Exchange
Commission.
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