Avinger Announces Commercial Launch in Israel
Avinger, Inc. (NASDAQ:AVGR), a commercial-stage medical device company marketing the first-ever image-guided, catheter-based system for the diagnosis and treatment of Peripheral Artery Disease (PAD), today announced the commercial launch of its Lumivascular products and completion of its first patient cases in Israel.
In support of its entry into the Israeli healthcare market, Avinger has signed an exclusive distribution agreement with Neopharm Medical Supplies for the sale and marketing of Avinger's proprietary image-guided Pantheris atherectomy and Ocelot CTO-crossing devices in Israel. Regulatory registration was obtained in July and the first shipment of devices was delivered in October. Earlier this week, physicians at two hospitals successfully completed patient cases as part of the initial rollout of Avinger's Lumivascular platform in Israel.
Neopharm Medical Supplies focuses its activities on supplying the most advanced and innovative technologies to healthcare providers in Israel. Since its establishment in the early 1980's, Neopharm Medical Supplies has specialized in market development and sales of top line medical devices in the fields of vascular surgery, various endovascular technologies, interventional and neuroradiology, general and laparoscopic surgery, IVF, and endourology.
Following the initial cases with Lumivascular technology in Israel, Alon Segal, CEO at Neopharm Medical Supplies, commented, "We are excited to partner with Avinger in bringing this important PAD technology to Israel. The initial clinical cases demonstrated Avinger's compelling therapeutic capabilities to effectively treat patients suffering from PAD while providing the physician unparalleled intravascular imaging to assure not only the effectiveness in removing the blockage, but also to avoid damaging the vessel wall and creating further complications for the patient as they recover. We look forward to further expanding our sales activity with Lumivascular technology as we add users in the months ahead."
"We are excited to expand our addressable market with the addition of Israel as a new sales opportunity for Avinger's PAD solutions," said Jeff Soinski, Avinger's President and CEO. "Avigner offers best-in-class PAD therapeutic solutions guided by the industry's only on-board intravascular imaging capability. Our unique approach enables physicians to not only confirm they have successfully treated the disease, but to do so with minimal adverse events to avoid further complications common to other PAD therapies."
Lumivascular technology allows physicians, for the first time ever, to see the inside of the artery during an atherectomy or CTO crossing procedure by using an imaging modality called optical coherence tomography, or OCT, that is displayed on Avinger's proprietary Lightbox console. Physicians performing atherectomy or crossing CTOs with other devices must rely solely on X-ray images, as well as tactile feedback, to guide their interventions while treating complicated arterial disease. With the Lumivascular approach, physicians can more accurately navigate their devices and treat PAD lesions, thanks to the real-time OCT images generated from inside the artery, without exposing healthcare workers and patients to the negative effects of ionizing radiation.
About Avinger, Inc.
Avinger is a commercial-stage medical device company that designs and develops the first and only image-guided, catheter-based system for the diagnosis and treatment of patients with Peripheral Artery Disease (PAD). PAD is estimated to affect over 12 million people in the U.S. and over 200 million worldwide. Avinger is dedicated to radically changing the way vascular disease is treated through its Lumivascular platform, which currently consists of the Lightbox imaging console, the Ocelot family of chronic total occlusion (CTO) catheters, and the Pantheris® family of atherectomy devices. Avinger is based in Redwood City, California. For more information, please visit www.avinger.com.