Luna Innovations Incorporated (NASDAQ:LUNA) announced today that it has entered into a joint marketing alliance agreement with Terumo Cardiovascular Systems Corporation (Terumo CVS). Under the terms of this agreement, Luna and Terumo CVS will market Luna's EDAC(TM) (Emboli Detection and Classification) QUANTIFIER for clinical use in the United States. Terumo CVS is the world's leading supplier of products for cardiopulmonary bypass.
ROANOKE, Va. (Business Wire EON) October 4, 2007 -- "Luna has a track record of successfully developing products for key target markets, and this agreement with Terumo CVS expands our presence in the medical devices market consistent with our business model, which focuses on the commercialization of our proprietary technologies and intellectual property," stated Kent Murphy, Luna's Chairman and Chief Executive Officer. "While the dynamic quantification of micro gaseous emboli during cardiopulmonary bypass surgery is not presently the global standard of care, the acceptance and widespread adoption of our technology will continue to raise the bar in patient care."
"Terumo is known for developing cardiopulmonary bypass products that optimize patient outcomes including those that help manage and reduce microemboli during surgery," said Michael Rebuldela, General Manager for Perfusion Products, Terumo CVS. "Our customers care about emboli reduction, and we believe they will embrace Luna's sophisticated technology."
Luna's EDAC(TM) QUANTIFIER is the only full featured, standalone emboli detection system to receive clearance from the U.S. Food and Drug Administration on the market. This cardiopulmonary instrument is an innovative medical device that uses quantitative ultrasound technology to non-invasively detect gaseous emboli in up to three extracorporeal bypass circuit lines. Luna's award-winning product provides repeatable, accurate measurement of gaseous emboli previously not quantifiable by the surgical team.
Gaseous emboli are air bubbles, variable in size and consistency, which are created during invasive medical procedures such as cardiopulmonary bypass surgery and valve replacements. Many researchers and clinicians agree that one of the most significant risks associated with emboli is the potential for brain damage caused by gaseous microemboli which can be introduced into the cerebral blood flow during such procedures. The EDAC(TM) QUANTIFIER is a tool for the surgical team to collect near real-time data on the quantity and volume of gaseous emboli at multiple locations in extracorporeal circuits during such procedures. More information on Luna's medical devices can be found at www.lunamedicalproducts.com.
About Luna Innovations:
Luna Innovations Incorporated (www.lunainnovations.com) develops and manufactures new-generation products for the healthcare, telecommunications, energy and defense markets. Luna's products are used to measure, monitor, protect, and improve critical processes in the markets they serve. Through its disciplined commercialization business model, Luna has become a recognized leader in transitioning science to solutions. Luna is headquartered in Roanoke, Virginia.
About Terumo Cardiovascular Systems:
Terumo Cardiovascular Systems Corporation manufactures and markets medical devices for the global cardiac surgery market and is the U.S. distributor for Vascutek(R) Vascular Grafts. The company is headquartered in Ann Arbor, Michigan with manufacturing operations in Ann Arbor; Elkton, Maryland; Ashland, Massachusetts; and Tustin, California. It is one of several subsidiaries of Terumo Corporation of Japan that are focused exclusively on cardiac and vascular specialties, including Terumo Heart Inc., developer of a ventricular assist device and Vascutek, Ltd., manufacturer of a broad portfolio of vascular grafts. For more information, visit www.terumo-cvs.com.
Terumo Corporation's shares are listed on the first section of the Tokyo Stock Exchange (No. 4543, Reuters symbol (4543.T), or Bloomberg 4543:JP). They are a component of the Nikkei 225, Japan's leading stock index.
Forward Looking Statements:
This release includes information that constitutes "forward-looking statements" made pursuant to the safe harbor provision of the Private Securities Litigation Reform Act of 1995, including statements regarding plans for marketing the EDAC(TM) QUANTIFIER as well as the expected capabilities, performance and market acceptance of such product. Statements that describe the company's business strategy, goals, objectives, prospects, opportunities, plans or intentions are also forward-looking statements. Actual events or results may differ materially from the expectations expressed in such forward-looking statements as a result of various factors, including risks and uncertainties, many of which are beyond the company's control. Factors that may affect the future results of Luna Innovations are set forth in its Annual Report on Form 10-K, its periodic reports on Forms 10-Q and other filings with the Securities and Exchange Commission ("SEC"). Such filings are available at the SEC's website at http://www.sec.gov, and at the company's website at http://www.lunainnovations.com The statements made in this release are based on information available to the company as of the date of this release and Luna Innovations undertakes no obligation to update any of the forward-looking statements after the date of this release.