Neovasc Announces Agreement With LeMaitre Vascular for Exclusive Distribution Rights to its Biological Vascular Strips

    --Vascular Device Leader LeMaitre Vascular to Distribute Neovasc's
    Biological Vascular Strips in the U.S. and Europe, With Option to
    Purchase the Product Line--

    VANCOUVER, Jan. 26 /CNW/ - Neovasc Inc. (TSXV: NVC), a new specialty
vascular device company, today announced that it has entered into a
distribution agreement with LeMaitre Vascular, Inc. (Nasdaq:   LMAT) for
Neovasc's biological vascular strip for use in vascular surgery procedures.
Under the terms of the seven-year agreement, LeMaitre Vascular has exclusive
rights to market and sell certain sizes of Neovasc's tissue patch products
used for vascular surgery in the United States and Europe.
    "LeMaitre Vascular has a well-earned reputation among vascular surgeons
for technical innovation and strong sales and customer support, and we are
delighted that they will be distributing our vascular strip products" said
Alexei Marko, chief executive officer of Neovasc. "The performance and
exceptional handling characteristics of our tissue products make them
appropriate for a number of vascular applications, including carotid
endarterectomy, which should complement LeMaitre Vascular's gold-standard
Pruitt-Inahara Carotid Shunt line. We are very pleased that this superior
product will now benefit from the expertise and reach of the high quality
sales and marketing professionals at LeMaitre Vascular."
    The Neovasc biologic vascular strip is derived from bovine pericardial
tissue, a biocompatible and versatile material that has been shown to have
exceptional strength and handling characteristics, allowing surgeons the
flexibility to implant with ease. This biocompatible material also has a
20-year safety record of use in cardiac indications. The strip is well-suited
for use in carotid endarterectomy as well as other precision vascular
    Under the terms of the agreement, LeMaitre Vascular has the option to
purchase the biologic vascular strip product technology from Neovasc after
five years. LeMaitre Vascular's use of the technology after acquisition would
be limited to the manufacture of strips for use in vascular procedures, and
Neovasc would retain the rights to all other applications of its biological
patch technology. Further details of the agreement were not disclosed.

    About LeMaitre Vascular

    LeMaitre Vascular is a provider of devices for the treatment of
peripheral vascular disease. The company develops, manufactures and markets
disposable and implantable vascular devices to address the needs of vascular
surgeons. The company's devices are used to treat peripheral vascular disease;
a condition that the company estimates affects more than 20 million people
worldwide. Well-known to vascular surgeons, the company's diversified product
portfolio consists of brand name devices that are used in arteries and veins
outside of the heart including the Expandable LeMaitre Valvulotome, the
Pruitt-Inahara Carotid Shunt and the newly-introduced TAArget Thoracic Stent
Graft. For more information, visit

    About Neovasc Inc

    Neovasc Inc. (formerly Medical Ventures Corp.), is a new specialty
vascular device company that develops, manufactures and markets medical
devices for the rapidly growing vascular and surgical marketplace. Neovasc is
comprised of the former Medical Ventures Corp., Neovasc Medical Ltd. and
B-Balloon Ltd. The company's current products include, Metricath(R) for
intravascular measurement and PeriPatch(TM) surgical tissue and staple line
reinforcement products. Neovasc has a development pipeline of innovative new
products, and provides contract medical device development and manufacturing
services. For more information, visit:

    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 Neovasc operates;
history of losses and lack of and uncertainty of revenues, ability to obtain
required financing, receipt of regulatory approval of product candidates,
ability to properly integrate newly acquired businesses, 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 Neovasc; and other factors referenced in the
Neovasc's filings with Canadian securities regulators. Although Neovasc
believes that expectations conveyed by the forward-looking statements are
reasonable based on the information available to it on the date such
statements were made, no assurances can be given as to the future results,
approvals or achievements. Given these uncertainties, readers are cautioned
not to place undue reliance on such forward-looking statements. Neovasc does
not assume the obligation to update any forward-looking statements except as
otherwise required by applicable law.

For further information:

For further information: Corporate contact: Neovasc Inc., Chris Clark,
(604) 248-4138; U.S. media & investor contact: GendeLLindheim BioCom Partners,
Barbara Lindheim, (212) 918-4650

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