Medical Ventures Corp.
TSX VENTURE : MEV

Medical Ventures Corp.

February 01, 2007 19:05 ET

Medical Ventures' Metricath Evaluated in 100+ European Clinical Cases

RICHMOND, BRITISH COLUMBIA--(CCNMatthews - Feb. 1, 2007) - MEDICAL VENTURES CORP. (TSX VENTURE:MEV), a medical devices company specializing in the development and commercialization of vascular and surgical devices, announces its Metricath® System for vessel and stent measurement has been evaluated in 113 European clinical cases.

The company has increased its marketing activity in Europe since initiating a product roll-out late in Q3 2006 for its Metricath Gemini® dual-balloon catheter device, which measures and treats narrowed arteries in patients suffering from vascular disease. Medical Ventures also manufactures a single-balloon vessel-measurement device, the Metricath Libra®. In total, there have been 66 European clinical evaluations of the Gemini and 47 of the Libra since the roll-out began.

"In the sale of new medical device technologies, getting the product into the hands of the end-user is paramount," said Kevin McKim, MEV's vice-president of sales and marketing. "Clinical evaluations are a critical part of the sales cycle, and, together with our distribution team, we have met a major milestone in our efforts to have doctors use Metricath in actual, patient-care scenarios."

"Although we promote the Metricath's performance and cost benefits to our customers, a doctor's conviction ultimately rests on experiencing the device's accuracy and ease-of-use first-hand," Mr. McKim continued.

Since receiving CE Mark approval for the Metricath Gemini in Q3 2006, Medical Ventures has signed new distribution agreements covering multiple European markets, including: Germany, Austria, Spain and the Netherlands. Metricath products are also sold in Italy, Greece, Canada and the United States.

Added MEV's president and CEO Paul Geyer:

"Substantial concerns about in-stent thrombosis, or blood clotting, have led the medical community to consider accurate vessel sizing and proper stent expansion as key factors to help mitigate that risk. Subsequently, we have seen a growing interest in the market for our Libra and Gemini products. Our focus continues to be on educating health providers on the Metricath's clinical benefits, including its capacity as a fast, reliable and cost-effective tool for stent and arterial measurement."

In the United States, the Metricath Gemini is FDA-cleared for use in peripheral (non-coronary) arteries. The company is undergoing a clinical trial to support its application to permit use of the Gemini in coronary arteries in the U.S. The Metricath Libra has FDA clearance and CE Mark approval for coronary and peripheral artery use.

Medical Ventures also announces it has granted 100,000 stock options to a director and officer of the company, and 50,000 stock options to another officer of the company, exercisable at a price of 19 cents per share, with a term of five years.

About Medical Ventures Corp.:

Medical Ventures Corp. is a medical device company dedicated to developing products that address clinical needs in the quickly growing vascular and surgical marketplace. MEV products help doctors treat a wide range of health concerns, including cardiovascular disease, hernias and obesity. The Company developed and manufactures the Metricath® System balloon catheter technology and PeriPatch™, a suite of surgical tissue products. Medical Ventures is also a contract medical devices manufacturer. For more information, please visit www.medical-ventures.com.

Statements contained herein that are not based on historical or current fact, including without limitation statements containing the words "anticipates", "believes", "may", "continues", "estimates", "expects", and "will" and words of similar import, constitute "forward-looking statements" within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, events or developments to be materially different from any future results, events or developments expressed or implied by such forward-looking statements. Such factors include, among others, the following: general economic and business conditions, both nationally and in the regions in which the Company operates; technology changes; competition; changes in business strategy or development plans; the ability to attract and retain qualified personnel; existing governmental regulations and changes in, or the failure to comply with, governmental regulations; liability and other claims asserted against the Company; and other factors referenced in the Company's filings with Canadian securities regulators. Given these uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements. The Company does not assume the obligation to update any forward-looking statements.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Contact Information