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PLC Systems Receives Notices of Allowance on RenalGuard Patents
Friday, April 16, 2010
Company expects U.S. patents to be issued within several months
Franklin, MA -- PLC Systems Inc. (OTC Bulletin Board: PLCSF), a company focused on innovative cardiac and vascular medical device-based technologies, today reported that the U.S. Patent and Trademark Office had issued Notices of Allowance for two of PLC's patent applications associated with its RenalGuard® technology.
The innovative RenalGuard Therapy® is designed to reduce the toxic effects that contrast media can have on the kidneys for patients undergoing imaging procedures. This novel therapy is based on the theory that creating and maintaining a high urine output allows the body to rapidly eliminate the contrast media, reducing its toxic effects.
The company will continue to work with the U.S. Patent Office as well as patent organizations in other countries to advance more patent applications concerning RenalGuard, including those covering the RenalGuard product and fluid balancing techniques and systems that remain pending.
Mark R. Tauscher, president and chief executive officer of PLC Systems Inc., stated, "We are truly delighted with the positive response from the U.S. Patent Office about our proprietary RenalGuard technology, which is designed to prevent Contrast Induced Nephropathy (CIN). This is a critical milestone for our company and for RenalGuard. We will to continue to build our patent position to enhance the value of our RenalGuard technology and method of CIN prevention. Combined with the positive results we are seeing from investigator-sponsored clinical trials of RenalGuard in Italy, this achievement provides us with heightened confidence in our future. We look forward to continuing our discussions with potential strategic and financial partners, armed with this important validation."
A Notice of Allowance signifies the Patent Office's determination that the applicant is entitled to a patent under the law. The Company expects the new patents to be issued later this year.
About PLC Systems Inc.
PLC Systems Inc. is a medical technology company specializing in innovative technologies for the cardiac and vascular markets. Headquartered in Franklin, Massachusetts, PLC pioneered the CO2 Heart Laser System, which cardiac surgeons use to perform CO2 transmyocardial revascularization (TMR) to alleviate symptoms of severe angina. PLC's newest product, RenalGuard, is approved for sale in the EU as a general fluid balancing device. Additional company information can be found at www.plcmed.com.
This press release contains "forward-looking" statements. For this purpose, any statements contained in this press release that relate to prospective events or developments are deemed to be forward-looking statements. Words such as "believes," "anticipates," "plans," "expects," "will" and similar expressions are intended to identify forward-looking statements. Our statements of our objectives are also forward-looking statements. While we may elect to update forward-looking statements in the future, we specifically disclaim any obligation to do so, even if our estimates change, and you should not rely on these forward-looking statements as representing our views as of any date subsequent to the date of this press release. Actual results could differ materially from those indicated by such forward-looking statements as a result of a variety of important factors, including that we may be unable to raise capital necessary to continue our operations, we may not receive necessary regulatory approvals to market our RenalGuard product or that such approvals may be withdrawn, the current clinical trials in Italy and the planned future U.S. clinical trial for RenalGuard may not be completed in a timely fashion, if at all, or, if these clinical trials are completed, they may not produce clinically significant or meaningful results, the RenalGuard product may not be commercially accepted, operational changes, competitive developments may affect the market for our products, regulatory approval requirements may affect the market for our products, and additional risk factors described in the "Forward Looking Statements" section of our Annual Report on Form 10-K for the year endedDecember 31, 2009, and our other SEC reports.
PLC Systems, PLC Medical Systems, PLC, CO2 Heart Laser, RenalGuard and RenalGuard Therapy are trademarks of PLC Systems Inc.
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