- KENSEY NASH EARNS $1.5M MILESTONE UNDER SPECTRANETICS AGREEMENT -
EXTON, Pa., June 23 /PRNewswire-FirstCall/ -- Kensey Nash Corporation (Nasdaq: KNSY) today announced that the ThromCat(R) XT Thrombectomy Catheter System has been granted CE Marking approval which allows for the sale of the product throughout the European Economic Area (EEA). The ThromCat XT System, a mechanical thrombectomy catheter designed to remove thrombus (blood clots) from a patient, is indicated for use in both the coronary and peripheral vasculature. The CE Mark approval meets the criteria established for a milestone payment of $1.5 million under the Company's Development and Regulatory Services Agreement with The Spectranetics Corporation (Spectranetics). The milestone payment to Kensey Nash Corporation will be recorded as deferred revenue and will be recognized into revenue over the remaining period of the Agreement.
'We are pleased to announce the achievement of this important milestone and to provide Spectranetics with this next generation thrombectomy device,' commented Joseph W. Kaufmann, Chief Executive Officer of Kensey Nash Corporation. 'Our product development team has integrated several new features into the original ThromCat System. This version of the device offers more effective thrombus removal technology within an even easier to use system, thereby allowing physicians a faster and more effective method for removing coronary and peripheral thrombus,' he concluded.
The ThromCat XT Thrombectomy Catheter System
The ThromCat XT System is based upon the same design principles as the original ThromCat product, which utilizes a high-speed rotary helix within a flexible atraumatic 7F extraction catheter to safely and effectively remove thrombus. The ThromCat XT extends the capability of this innovative first generation disposable device by incorporating an advanced extraction helix technology that improves the product's performance, particularly when used in more advanced thrombus. The ease-of-use of the ThromCat XT System is enhanced by further simplifying the setup procedure of the original device, resulting in an even shorter set up time. In addition, the device incorporates a new catheter jacket technology to allow use in more challenging anatomy, thereby extending the utility of this powerful and disposable device.
About Kensey Nash Corporation
Kensey Nash Corporation is a leading medical technology company providing innovative solutions and technologies for a wide range of medical procedures.
