--Neovasc's Tiara™ Program for the Transcatheter Treatment of Mitral Valve Disease Will Be Featured in Three Sessions--
--Company Also Announces Issuance of Incentive Options to an Officer of the Company--
TSX Venture Exchange: NVC
VANCOUVER, May 13, 2014 /CNW/ - Neovasc Inc. (TSXV: NVC) (the 'Company' or 'Neovasc') today announced that researchers will present data on the company's Tiara™ transcatheter mitral valve in early clinical development for the treatment of mitral valve disease at the upcoming EuroPCR 2014, the annual meeting of the European Association for Percutaneous Cardiovascular Interventions.
The Tiara transcatheter mitral valve is a novel solution to treat mitral valve regurgitation, a serious and poorly served condition that requires development of highly specialized devices to address the complex mitral anatomy. Mitral regurgitation is often severe and can lead to heart failure and death, but conventional surgical treatments are only appropriate for a small percentage of patients. Approximately four million individuals in the US alone are estimated to have mitral disease. Neovasc reported the first human implantations of the Tiara device in February of this year.
The Neovasc presentations at EuroPCR 2014 will include the following:
Hot Line - First-in-man and novel interventional approaches: Transapical mitral implantation of the Tiara bio-prosthesis: first-in-man implantation, Prof. Anson Cheung, Wednesday May 21, 2014, 4.33pm, Room Maillot.
Innovation Centre - Innovations in Cardiovascular [email protected] 2014: Tiara prosthetic transcatheter mitral valve, Prof. Shmuel Banai, Thursday, May 22, 2014, 11:22am, Room 253
Innovation Centre - Planned and ongoing clinical trials: Tiara: a novel transcatheter treatment of mitral regurgitation, Prof. Shmuel Banai, Thursday May 22, 2014, 5.35pm, Room 253
Neovasc also announced that its Board of Directors granted a total of 150,000 stock options (the "Options") to a Neovasc officer. The Options have an exercise price of $6.80, the equivalent to Neovasc's closing market price of $6.80 on the date of the grant. The Options will vest 20% immediately and 20% will vest on each of the next four anniversaries of the date of grant.
EuroPCR is the official annual meeting of the European Association of Percutaneous Cardiovascular
Interventions. EuroPCR 2014 is being held in Paris, France May 20-23, 2014. For information, visit
About Neovasc Inc.
Neovasc is a specialty medical device company that develops, manufactures and markets products for the rapidly growing cardiovascular marketplace. Its products include the Tiara™ technology in development for the transcatheter treatment of mitral valve disease, the Neovasc Reducer™ for the treatment of refractory angina and a line of advanced biological tissue products that are used as key components in third-party medical products including transcatheter heart valves. For more information, visit www.neovasc.com
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," "forecasts", "targets", 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 the Company 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 the Company; and other factors referenced in the Company's filings with securities regulators. Although the Company 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. The Company does not assume the obligation to update any forward-looking statements except as otherwise required by applicable law.
SOURCE: Neovasc Inc.
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