SOURCE: IPI

September 12, 2007 09:00 ET

Institute for Pediatric Innovation (IPI) Receives Grant From AGA Medical Corporation -- a Leader in Developing Devices to Address Heart Defects

Nonprofit Focused on Improving Children's Healthcare Teams With Pioneer in Non-Surgical Treatment of Cardiac Defects

CAMBRIDGE, MA--(Marketwire - September 12, 2007) - The Institute for Pediatric Innovation (IPI), Inc., a nonprofit focused on improving healthcare for children, today announced that it has received an unrestricted grant from AGA Medical Corporation, an innovative firm that has pioneered non-invasive devices and techniques for repairing congenital and structural heart defects.

"The team at IPI is very pleased to acknowledge AGA Medical's unrestricted gift, which will significantly help to underwrite our program," said Donald Lombardi, CEO of the Institute for Pediatric Innovation. "AGA's leadership will enhance our ability to bring together the pediatric community, industry, government and the philanthropic sectors to make more innovative products available for treating children. We particularly value the firm's considerable expertise in repairing heart defects in children."

"AGA Medical has from our very beginning more than ten years ago been committed to providing innovative devices to treat congenital heart defects," said Franck Gougeon, President and CEO of AGA Medical. "The pioneering work of Co-founder Dr. Kurt Amplatz has virtually eliminated open heart surgery for the treatment of children with many of these defects. We are pleased to find an organization such as IPI, which we believe shares our mission and core values. We hope this grant will help them to develop innovative drugs and devices to treat childhood diseases."

In June, IPI announced the formation of a consortium of nationally recognized children's hospitals that will collaborate with the Institute in its mission. IPI and its Hospital Consortium will identify priority needs in today's clinical care of children for redesigned devices, drugs reformulated specifically with a focus on children and promising new technologies for neonatal care. The Consortium is composed of founding members University Hospitals Rainbow Babies and Children's Hospital (Cleveland, Ohio), Lucile Packard Children's Hospital at Stanford (Palo Alto, Calif.) and Children's Mercy Hospitals and Clinics (Kansas City, Mo.).

About AGA Medical

AGA Medical Corporation, based in Plymouth, Minnesota (just outside Minneapolis), is the leader in developing interventional devices to treat structural heart defects. As a result of the many contributions and creative genius of Dr. Kurt Amplatz, the company has developed and commercialized a series of devices that have revolutionized the treatment of the most common congenital "holes in the heart," such as atrial septal and patent foramen ovale defects. The company is expanding into new areas, including the minimally invasive repair of vascular abnormalities. Over 700 articles have been published in peer reviewed medical publications that support the benefits of AGA Medical devices, such as improved patient outcomes, reduced length of stay and accelerated recovery times for the patient. AGA Medical devices have received regulatory approval and are marketed in over 90 countries with over 250,000 devices shipped to date. For more information visit www.amplatzer.com.

About the Institute for Pediatric Innovation (IPI)

The Institute for Pediatric Innovation (www.pediatricinnovation.org) is a nonprofit organization that was formed to improve the health of children by increasing the availability of innovative medical products with the unique attributes required for pediatric care. IPI seeks to transform pediatric healthcare from a neglected orphaned market to a magnet for industry and investor interest. IPI is led by an experienced team of experts in licensing technology in pediatric medical care, commercializing medical technology, and marketing medical devices and pharmaceutical products. To date, IPI has received support from its consortium members along with the Ewing Marion Kauffman Foundation, Children's Medical Ventures, Inc. and Oxford Bioscience Partners.

Contact Information

  • Institute for Pediatric Innovation contact:
    Ross Trimby
    COO
    617-401-2375
    Email Contact

    Press contact:
    Barbara Heffner
    CHEN PR, Inc.
    781-672-3112
    Email Contact