Sutura, Inc.
OTC Bulletin Board : SUTU

Sutura, Inc.

June 12, 2007 12:22 ET

Sutura Announces Court Approval of Out-Of-Court Settlement

FOUNTAIN VALLEY, CALIFORNIA--(Marketwire - June 12, 2007) - Sutura, Inc. ("Sutura") (OTCBB:SUTU), an innovative developer of minimally invasive vascular suturing devices, announced today that the Superior Court of California has approved an out-of-court settlement reached with Synapse Funds, Go Industries, and other plaintiffs relating to a legal dispute dating back to June 2005. Sutura's Board of Directors unanimously approved the terms of the settlement, with Court approval being the final stage of the settlement process.

"The management team at Sutura is pleased that this long running legal dispute has finally been put to rest, allowing the Company to focus on expanding the development of Sutura's SuperStitch and HeartStitch suturing devices," said David Teckman, President and Chief Executive Officer at Sutura, Inc. "The end of this litigation will also make it easier for Sutura to move forward with its plans to attract strategic partners and pursue other strategic opportunities."

The Company also issued a follow-up to Sutura's recent announcement of the first successful 12F large bore closure in Europe. Dr. John Crew, Director of Cardiovascular Surgical Research at the San Francisco Heart Institute at Seton Medical Center, successfully closed an 18F opening during a AAA procedure using Sutura's SuperStitch technology. The SuperStitch line of arterial closure devices has both FDA clearance and a CE mark for its 5F, 6F, 8F and 12F devices. Interest in the new 12F devices has been strong with the growing use of minimally invasive techniques for valve repair and replacement. The 12F device can suture up to a 16F opening and Dr. Mario Galli using the pre-close techniques recently closed a 24F opening using the 12F SuperStitch at Santa Ana Hospital in Como, Italy.

About Sutura, Inc.

Sutura®, Inc. (www.suturaus.com) is a medical device company that has developed a line of innovative, minimally invasive, vascular suturing devices to suture the puncture created in arteries during open surgery and catheter-based procedures. The Company's line of SuperStitch medical devices provide sutured closure of the arteriotomy site utilizing the existing catheter sheath introducer or cannula during fluoroscopically guided procedures and directly through the open arteriotomy during open surgical procedures.

Within the United States the 8F & 6F SuperStitch devices are available for use in performing vascular stitching in general surgery, including endoscopic procedures. It is not intended for blind closure of an arteriotomy site. The SuperStitch 8F & 6F is approved in the European Union and CE marked with the indication for use as follows: The SuperStitch is indicated for use in performing vascular stitching in general surgery, including endoscopic procedures. In the EU there is no requirement for the use of fluoroscopic guidance. Sutura's headquarters are in Fountain Valley, California. "Sutura®" and "SuperStitch®" are registered trademarks of Sutura, Inc.

Forward-Looking Information Is Subject to Risk and Uncertainty

Certain statements in this press release may contain projections or "forward-looking" information (as defined in the Private Securities Litigation Reform Act of 1995) that involve risk and uncertainty. The words "aim", "plan", "likely", "believe", "expect", "anticipate", "intend", "estimate", "will", "should", "could", "may", "appears", and other expressions that indicate future events and trends identify forward-looking statements. These statements are not guaranties of future performance and involve risks, uncertainties and assumptions that are difficult to predict. Forward-looking statements are based upon assumptions as to future events that may not prove to be accurate. Actual outcomes and results may differ materially from what we express or forecast in these forward-looking statements. As a result, these statements speak only as of the date they were made and we undertake no obligation to publicly update or revise any forward-looking statements. Our actual results and future trends may differ materially from our forward-looking statements depending on a variety of factors including the ability of the company to raise additional funds necessary for the continued operation of the company, acceptance of the SuperStitch® and HeartStitch® devices by medical providers and the marketplace in general, the ability of the company to establish a successful strategic relationships or to complete strategic transactions with third parties, the continued growth of the vessel closure marketplace and the company's ability to continue to expand and protect its technology patents.

Contact Information

  • Sutura, Inc.
    Barry Forward
    Corporate Communications
    1-866-676-8386
    Website: www.suturaus.com