ATLANTA, June 7 /PRNewswire-FirstCall/ -- CryoLife, Inc.
(NYSE: CRY), an implantable biological medical device and
cardiovascular tissue processing company whose products include
BioGlue Surgical Adhesive, announced today that it has completed
the purchase of U.S. patent # 6,329,337. The patent involves
the formulation and use of recombinant human serum albumin and
gluteraldehyde, and now becomes part of CryoLife's protein hydrogel
patent portfolio, which includes BioGlue.
"CryoLife will continue to invest in emerging and adjacent
intellectual property and tools that will complement our portfolio
of surgical adhesives and glues for surgeons," said CryoLife
president and CEO Steven G.
Anderson. "With our acquisition of this technology, we
have an additional opportunity to expand and strengthen our
surgical adhesive portfolio," Anderson added.
CryoLife's BioGlue Surgical Adhesive is the leading surgical
adhesive used in cardiovascular surgery around the world and is
used in a wide range of reconstruction procedures. Composed
of purified bovine serum albumin (BSA) and gluteraldehyde, BioGlue
has been used in more than 550,000 surgical procedures and has been
published in more than 250 preclinical and clinical papers
discussing safety, efficacy, and application techniques since its
launch in 1998.
"The strength of BioGlue assures the surgeon that delicate
tissues are well reinforced and assists in controlling bleeding in
complex surgery. We believe that these and other properties
of BioGlue Surgical Adhesive make it a leading sealant used in
complex cardiac and vascular surgery," Anderson said.
About CryoLife, Inc.
Founded in 1984, CryoLife, Inc. is a leader in the processing
and distribution of implantable living human tissues for use in
cardiac and vascular surgeries throughout the U.S. and Canada. The Company's CryoValve® SG
pulmonary heart valve, processed using CryoLife's proprietary
SynerGraft® technology, has FDA 510(k) clearance for the
replacement of diseased, damaged, malformed, or malfunctioning
native or prosthetic pulmonary valves. The Company's
CryoPatch® SG pulmonary cardiac patch has FDA 510(k) clearance for
the repair or reconstruction of the right ventricular outflow tract
(RVOT), which is a surgery commonly performed in children with
congenital heart defects, such as Tetralogy of Fallot, Truncus
Arteriosus, and Pulmonary Atresia. CryoPatch SG is
distributed in three anatomic configurations: pulmonary
hemi-artery, pulmonary trunk, and pulmonary branch. The
Company's BioGlue® Surgical Adhesive is FDA approved as an adjunct
to sutures and staples for use in adult patients in open surgical
repair of large vessels. BioGlue is also CE marked in the
European Community and approved in Canada and Australia for use in soft tissue repair.
The Company's BioFoam™ Surgical Matrix is CE marked in the
European Community for use as an adjunct in the sealing of
abdominal parenchymal tissues (liver and spleen) when cessation of
bleeding by ligature or other conventional methods is ineffective
or impractical. BIOGLUE Aesthetic® Medical Adhesive is
CE marked in the European Community for periosteal fixation
following endoscopic browplasty (brow lift) in reconstructive
plastic surgery and is distributed by a third party for this
indication. CryoLife currently distributes HemoStase®, a
hemostatic agent, in much of the U.S. for use in cardiac and
vascular surgery and in many international markets for cardiac,
vascular, and general surgery, subject to certain exclusions.
Except for the historical information contained in this press
release, the statements made by CryoLife are forward-looking
statements that involve risks and uncertainties. All such
statements are subject to the safe harbor created by the Private
Securities Litigation Reform Act of 1995. These statements
include the expectation that CryoLife will continue to invest in
emerging and adjacent intellectual property and tools that will
complement our portfolio of surgical adhesives and glues for
surgeons, and our belief that, as a result of this acquisition, we
have an additional opportunity to expand and strengthen our
surgical adhesive portfolio. These future events may not
occur as and when expected, if at all, and, together with our
business, these statements are subject to a number of risks and
uncertainties that are outside CryoLife's control, including the
risk that plans for future investments may change based on the
economy, the availability of cash and access to other forms of
capital, and our overall business strategy, and any benefits to our
surgical adhesive portfolio that may result from this acquisition
are dependent on our ability to successfully develop and market a
product based on the patent. CryoLife's business is also
subject to a number of risks and uncertainties, including those
risk factors detailed in our Securities and Exchange Commission
filings, including our Form 10-K filing for the year ended
December 31, 2009 and Form 10-Q for
the quarter ended March 31,
2010. The Company does not undertake to update its
forward-looking statements.
For additional information about the company, visit CryoLife's
Web site: www.cryolife.com.
Media
Contacts:
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D. Ashley
Lee
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Executive Vice
President, Chief Financial Officer and
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Chief Operating
Officer
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Phone:
770-419-3355
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Jerry Tolk
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Senior Vice
President
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Edelman
Health
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Phone:
404-832-6346
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SOURCE CryoLife, Inc.