Medical Ventures Corp.

TSX VENTURE : MEV


Medical Ventures Corp.

October 04, 2007 17:01 ET

Medical Ventures Submits Second PMA Module to FDA

Company seeking U.S. approval of Metricath Gemini device

RICHMOND, BRITISH COLUMBIA--(Marketwire - Oct. 4, 2007) - MEDICAL VENTURES CORP. (TSX VENTURE:MEV) has submitted to the U.S. Food and Drug Administration the second of three modules of its pre-market approval (PMA) application for the Metricath Gemini® catheter. The FDA will review the modules to determine whether the Gemini device will be approved for use in coronary arteries in the United States.

The latest module to be submitted contains information related to the Metricath Gemini's performance in laboratory and animal testing. Medical Ventures submitted the first module, outlining product manufacturing information, in August 2007. Contents of the first two modules are based on existing data that previously yielded regulatory approvals for the Metricath Gemini in Europe and Canada. A third module, based largely on information from the multi-centre GAAME clinical trial, is expected to be submitted by year-end.

About Metricath Gemini®

The Metricath Gemini is a dual-balloon catheter system used during angioplasty procedures to treat heart and vascular disease. The catheter features a low-pressure balloon to measure within arteries and stents, helping doctors confirm stent selection and expansion for optimal treatment outcomes. The Metricath Gemini also features a high-pressure angioplasty balloon that can be used to expand vessels or under-deployed stents by inflating the balloon within the artery.

About Medical Ventures Corp.

Medical Ventures Corp. develops, manufactures and markets medical devices for the quickly growing vascular and surgical marketplace. MEV products help doctors treat a wide range of health concerns, including vascular disease and obesity. MEV products include the Metricath® vascular measurement system and PeriPatch™, a line 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