Ablative Solutions Receives Innovation Award

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Mar 12, 2015, 03:00 ET

KALAMAZOO, Mich., March 12, 2015 /PRNewswire/ -- Ablative Solutions, Inc., a venture-backed, privately-held clinical stage company headquartered in Kalamazoo, MI, with offices in Menlo Park, CA, announced today that it was the recipient of a "Top Cardiovascular Innovation Award" from Cardiovascular Research Technologies (CRT) for the Peregrine System™. The Peregrine System is a percutaneous catheter designed to deliver diagnostic and therapeutic agents through vessel walls to the outer region of arteries.

The Peregrine System has been cleared by the U.S. Food and Drug Administration (FDA) for the infusion of diagnostic and therapeutic agents into the perivascular area. Ablative Solutions is currently investigating the use of the Peregrine System in a clinical study in Europe intended to secure a CE Mark. The System is being evaluated for renal denervation, providing a treatment that delivers therapy directly to the nerves that run along the perimeter of the renal artery. The interruption of these nerve pathways may have therapeutic implications for hypertension, metabolic syndrome, congestive heart failure and obesity. The system is not currently cleared or approved in the U.S. for renal denervation, or for the treatment of hypertension, metabolic syndrome, congestive heart failure or obesity.

"The Cardiovascular Innovation Award competition is intended to recognize the companies that are taking fresh approaches to the diagnosis and treatment of cardiovascular disease. This year's competition had over 30 submissions, and the eight finalists were all innovative concepts and approaches," shared Dr. Ron Waksman, Director of the annual Cardiovascular Revascularization Therapies (CRT) meeting. "In selecting the Peregrine System as an award recipient, we recognized the originality, elegance and the demonstrated capabilities of this approach of chemical denervation, which has the potential to have a therapeutic impact in the field of hypertension and other related diseases."

Dr. Tim Fischell, co-founder and CEO of Ablative Solutions, presented the Peregrine System during the Innovation in Cardiology session. "It is an honor to be recognized for innovation by CRT," noted Dr. Fischell. "Our team has worked diligently in the R&D, preclinical and clinical evaluation of this approach of chemical denervation, motivated by the belief that we can help physicians make a significant impact in the treatment of devastating diseases like hypertension and other metabolic disorders caused by overactive sympathetic nerves. We look forward to continued evaluation of this therapeutic approach."

Ablative Solutions was founded by two proven medical device entrepreneurs, Tim Fischell, MD, and David Fischell, PhD. The company has pioneered the development of novel device-chemistry combination therapy. The Peregrine System uses a unique, patented technology to deliver diagnostic and therapeutic agents directly to the perivascular region that surrounds blood vessels.

Forward-Looking Statements. Statements made in this press release that look forward in time or that express beliefs, expectations or hopes regarding future occurrences or anticipated outcomes or benefits are forward-looking statements. A number of risks and uncertainties, such as risks related to product development and commercialization efforts, results of clinical trials, ultimate clinical outcomes and benefit of the Company's products to patients, market and physician acceptance of the Company's products, intellectual property protection and competitive product offerings, could cause actual events to differ from the expectations indicated in these forward-looking statements. You are cautioned not to put any undue reliance on any forward-looking statement. This press release is neither an offer to sell nor a solicitation of an offer to purchase any particular securities. Any such offer or solicitation will be made only pursuant to definitive legal agreements prepared specifically for such purpose. An investment in the Company's securities entails significant risks and is suitable only for sophisticated investors who can afford a loss of their entire investment; no assurance can be given that investment objectives will be achieved. In considering the performance information contained herein, you should bear in mind that past performance is not necessarily indicative of future results; there can be no assurance that the Company will achieve comparable results or that any projected returns will be met. The Company does not assume any obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

For more information:
Vartan Ghazarossian, PhD
President
(650) 321-6884
http://www.ablativesolutions.com

SOURCE Ablative Solutions, Inc.