logo
  Join        Login             Stock Quote

Endologix (ELGX) Intuitrak Delivery System Receives Shonin Approval For Marketing In Japan

 December 31, 2012 12:01 PM
 


(By Balaseshan) Endologix Inc. (NASDAQ: ELGX), which develops medical devices to treat aortic disorders, said its IntuiTrak Delivery System received Shonin approval for marketing in Japan.

The company said its distribution partner in Japan, Cosmotec Inc., has received Shonin approval from the Japanese Ministry of Health, Labor and Welfare (MHLW) to market the IntuiTrak Delivery System.

The IntuiTrak System delivers the company's Powerlink anatomical fixation stent graft for the minimally invasive endovascular repair of abdominal aortic aneurysms (AAA). IntuiTrak builds upon the strong clinical results achieved with the Powerlink stent graft in multicenter, prospective clinical trials.

[Related -Ports In A Storm - Best Performing Stocks During This Down Movement]

IntuiTrak adds ergonomic features, a simplified deployment mechanism and hydrophilic coating to ease access and delivery, compared to the previous system available for the device in Japan. Endologix stent-grafts have now been used to successfully repair more than 30,000 AAA's worldwide with very positive physician acceptance.

"We anticipate a similar response to IntuiTrak in Japan and look forward to working closely with Cosmotec over the next few months to train their sales reps and physician proctors, with the expectation of commencing the first IntuiTrak commercial cases in Q2-2013," said Bob Mitchell, President, International of Endologix.

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 about 75%, making it a leading cause of death in the U.S.

[Related -Positive Close With Strong Technicals]

In a separate release, Endologix said it has become aware that Lifeport Sciences, LLC, which is affiliated with Acacia Research Corp., has filed a lawsuit against the company in the U.S. District Court in Delaware alleging that Endologix's AFX Endovascular AAA System and IntuiTrak Powerlink System infringe five of Lifeport's U.S. patents. The five patents are scheduled to expire on various dates between 2013 and 2015.

ELGX is trading up 0.50% at $14.10 on Monday. The stock has been trading between $11.15 and $15.77 for the past 52 weeks.

iOnTheMarket Premium
Advertisement

Advertisement


Post Comment -- Login is required to post message
Name:  
Alert for new comments:
Your email:
Your Website:
Title:
Comments:
 

rss feed

Latest Stories

article imageInitial Jobless Claims Rose Unexpectedly

Claims unexpectedly rose in the latest report through last weekend to breach 300,000 for the first time read on...

article imageAll Quiet on the Record High Front

What can we glean from the media’s lack of attention to the market’s recent record read on...

article imageThe Chip Maker Short Sellers Should Be Watching

Investing in semiconductor stocks is always tricky. Industry cycles can lead to bumps in the road for the read on...

article imageChicago Fed: US Economic Growth Slowed In October

The pace of US growth slowed more than expected in October, according to this morning’s update of the read on...

Advertisement
Popular Articles

Advertisement
Daily Sector Scan
Partner Center

Related Articles:

Activist Investors Are Ready To Fight In 2011
More Articles on: Medical



Fundamental data is provided by Zacks Investment Research, and Commentary, news and Press Releases provided by YellowBrix and Quotemedia.
All information provided "as is" for informational purposes only, not intended for trading purposes or advice. iStockAnalyst.com is not an investment adviser and does not provide, endorse or review any information or data contained herein.
The blog articles are opinions by respective blogger. By using this site you are agreeing to terms and conditions posted on respective bloggers' website.
The postings/comments on the site may or may not be from reliable sources. Neither iStockAnalyst nor any of its independent providers is liable for any informational errors, incompleteness, or delays, or for any actions taken in reliance on information contained herein. You are solely responsible for the investment decisions made by you and the consequences resulting therefrom. By accessing the iStockAnalyst.com site, you agree not to redistribute the information found therein.
The sector scan is based on 15-30 minutes delayed data. The Pattern scan is based on EOD data.