QUEBEC CITY, March 8, 2016 /CNW Telbec/ - Opsens Inc. ("Opsens" or the "Company") (TSXV:OPS) (OTCQX:OPSSF) is pleased to announce that it has been recognized in the top performing Technology companies in the 2016 TSX Venture 50®. The TSX Venture 50® ranks the top 10 companies in five major industry sectors, identifying the ones that have shown strong results on three equally weighted criteria of market performance: market capitalization growth, share price appreciation and trading volume.
Opsens focuses on interventional cardiology, in particular on Fractional Flow Reserve ("FFR"), and has developed products that optimize the diagnostic and guide the treatment of patients with coronary artery disease.
"Opsens is proud to be part of these select companies. We have made significant progress on many fronts in recent months. The Company has just completed the move into its new installation to accommodate the workforce and equipment necessary to accelerate growth," said Louis Laflamme, President and Chief Executive Officer of Opsens. "Moreover, in the first quarter of 2016, Opsens has continued to expand on its marketing activities in the FFR guidewire market and announced FFR revenues of $893,000, exceeding the FFR sales revenue for the 12 months of fiscal 2015. Opsens also announced its first commercial-size FFR order, worth $ 1.2 million, which will enhance growth, in the second quarter of 2016. Opsens also closed a $5 million financing in December 2015," added Laflamme.
Opsens aims to become a key player in the guidewire FFR market with the OptoWire, a nitinol-based optical guidewire. The OptoWire provides intra-coronary blood pressure measurements with unique, patented optical pressure guidewire technologies. It is immune to adverse effects related to blood contact, and allows easy and reliable connectivity that leads to reliable FFR measurements in extended conditions of usage. The OptoWire is also designed to provide cardiologists with a guidewire that provides optimal performance to navigate coronary arteries and cross blockages with ease and safety. Based on industry sources, the FFR market represented more than US$300 million in sales in 2014 and is expected to reach US$1 billion in the medium-term.
Opsens focuses mainly on the measure of Fractional Flow Reserve ("FFR") in interventional cardiology. Opsens offers an advanced optical-based pressure guidewire (OptoWire) that aims at improving the clinical outcome of patients with coronary artery disease. Opsens is also involved in industrial activities. The Company develops, manufactures and installs innovative fibre optic sensing solutions for critical applications such as the monitoring of oil wells and other demanding industrial 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.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE OPSENS INC.
For further information: please contact: Thierry Dumas, CPA, CA, Chief Financial Officer, 418.682.9996; Louis Laflamme, CPA, CA, Chief Executive Officer, 418.682.9996