SOURCE: Xtent, Inc.

March 07, 2006 08:52 ET

Xtent Receives 2006 Frost & Sullivan Award for Technology Innovation in Interventional Cardiology

Device Delivers Custom Length Drug-Eluting Stents, Treats Multiple Lesions, to Reduce Time, Cost and Morbidity

MENLO PARK, CA -- (MARKET WIRE) -- March 7, 2006 -- Xtent, Inc., developer of next-generation drug-eluting stent (DES) systems, is pleased to announce that Frost & Sullivan, a global growth consulting company, has awarded Xtent its 2006 Technology Innovation of the Year Award in the field of interventional cardiology.

The award recognizes the development of a potentially disruptive breakthrough in the DES market, a drug-eluting stent technology that delivers multiple custom-length stents and can treat lesions in multiple vessels in a single procedure. Frost & Sullivan will present the award at its annual Excellence in Medical Device Technologies Awards Banquet on March 15, 2006 at the Grand Hyatt Hotel in San Francisco, California.

"We're honored to receive this award from one of the best-regarded companies in medical and technical market research, forecasting and consulting," said Xtent president and CEO Greg Casciaro. "The DES market is already $5.5 billion per year and growing. While currently dominated by industry giants such as Boston Scientific and Johnson & Johnson, the field of interventional cardiology has a history of technical revolutions, such as the move from fixed-wire to over-the-wire balloon angioplasty, from over-the-wire to rapid exchange, and most recently from bare-metal stents to drug-eluting stents. We believe the field is ripe for the next revolution: custom-length and multiple placement capability to better match the treatment to the disease in individual patients."

The introduction of drug-eluting stents changed the dynamics of interventional treatment of coronary artery disease. Recent studies indicate that treatment with drug-eluting stents is not only superior to bare metal stents, but even in patients with multi-vessel disease, DES treatment produces results comparable to coronary artery bypass grafting, which has been considered the gold standard for treatment of coronary artery disease. This has led to the treatment of more and more complex cases less invasively in the cardiac catheterization laboratory rather than in the operating room. Although more complex cases are being treated less invasively, currently available drug-eluting stents have been optimized for focal, single-lesion disease and are not ideal for treating diffuse, multi-lesion, and multi-vessel disease found in many patients.

"In current practice, patients with diffuse lesions or blockages in more than one artery require multiple stent placements that increase procedure complexity, time and cost," said Frost & Sullivan research analyst Preethi Vaidyanathan. "Xtent's modular system can place stents customized to the lesion length as well as in multiple arteries with a single catheterization. This has positive ramifications for patients, physicians and hospitals. The Xtent approach continues the growing trend of treating vascular disease less invasively, a long-term trend enabled by the increasing sophistication of medical technology and sustained by increasing patient benefit."

About Frost & Sullivan

Frost & Sullivan, a global growth consulting company, has been partnering with clients to support the development of innovative strategies for more than 40 years. The company's industry expertise integrates growth consulting, growth partnership services, and corporate management training to identify and develop opportunities. Frost & Sullivan serves an extensive clientele that includes Global 1000 companies, emerging companies, and the investment community by providing comprehensive industry coverage that reflects a unique global perspective and combines ongoing analysis of markets, technologies, econometrics, and demographics. For more information, visit www.frost.com.

About Xtent

Xtent is a privately held developer of next generation drug-eluting stent systems designed for the treatment of real-world patients, those with complex, multi-vessel, and multi-lesion coronary and peripheral vascular disease. Based in Menlo Park, California, the company is funded by leading venture capital firms including Advanced Technology Ventures, Latterell Venture Partners, Morgenthaler Ventures, and Split Rock Partners, co-manager of St. Paul Venture Capital.

Xtent's intellectual property portfolio now includes more than 35 issued or pending US patents and 18 patents pending internationally. These patent filings address a multitude of approaches to custom-length and multiple-lesion stenting, including balloon-expandable stent systems suitable for coronary application, self-expanding stent systems for use in peripheral vessels, bioabsorbable stents, and a variety of other stent technologies.

The company recently completed its Custom I human trial and has now initiated the expanded Custom II trial in multiple European centers. Market approvals for the Xtent DES system are expected in Europe in 2007 and in the United States in 2009.

Contact Information

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    Phone: 650-475-9430
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    The Gibson Network
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