Expands core technology into fastest growing segment of cardiology devices
QUEBEC CITY, Nov. 5, 2019 /CNW Telbec/ -Opsens Inc. ("Opsens" or the "Company") (TSX: OPS) (OTCQX: OPSSF) announces today it is expanding its medical device business into the structural cardiology space and will accelerate development activities of products that reach beyond its current coronary and peripheral applications.
Louis Laflamme, President and Chief Executive Officer commented, "Opsens' technical and commercial capabilities have expanded over the last few years, fueled by our success in the coronary market. Our flagship product, the OptoWire, has been used in more than 80,000 patients in the United States, Europe, Japan, and Canada. We remain excited about our core business outlook and also see a highly synergistic adjacent market to expand our technology."
The initial area of focus is aortic stenosis, a common and serious valve disease that is often treated through Trans Aortic Valve Replacement (TAVR). This is the fastest growing part of structural cardiology, driven by an aging population and advancements in valve technology and technique that are bringing the procedure to a wider patient population.
"The company has recently been successfully working on this structural heart project and has sufficiently advanced the program to warrant further activities and investment to accelerate our time to market. We plan to build on our existing technology, infrastructure and know-how in complementary directions," Laflamme added. "We expect a number of positive development milestones in the next four to six quarters on our way to a commercially viable product that can have an immediate impact on TAVR procedures."
Opsens focuses mainly on physiological measurements, such as FFR and dPR in interventional cardiology. Opsens offers an advanced optical-based pressure guidewire that aims at improving the clinical outcome of patients with coronary artery disease. Its flagship product, the OptoWire, is a second-generation fiber optic pressure guidewire designed to provide the lowest drift in the industry and excellent lesions access. The OptoWire has been used in the diagnosis and treatment of over 80,000 patients in more than 30 countries. It is approved for sale in the United States, European Union, Japan, and Canada.
Opsens is also involved in industrial activities in developing, manufacturing and installing innovative fibre optic sensing solutions for critical applications.
Forward-looking statements contained in this press release involve known and unknown risks, uncertainties and other factors that may cause actual results, performance and achievements of Opsens to be materially different from any future results, performance or achievements expressed or implied by the said forward-looking statements.
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SOURCE OPSENS Inc.
For further information: Louis Laflamme, CPA, CA, Chief Executive Officer, 418.781.0333; Robin Villeneuve, CPA, CA, Chief Financial Officer, 418.781.0333