ventracor lodges ethics approval

Hmmm Pat, seems like you need to update your stock symbol database...

I think it's a bit odd that this should be the subject of an announcement. I would have thought that approval of the application might have been more worthy of advertisement. I suppose it indicates that VCR are keen to keep Ventrassist in the limelight. It certainly isn't doing the share price any harm...

AnnaPVCR : Submits request to comm human trials for Artificial Heart
ASX Report
13:33:0250 25/11/2002 Issuer: VCR
VENTRACOR LIMITED 2002-11-25 ASX-SIGNAL-G

HOMEX - Brisbane

+++++++++++++++++++++++++
Australian heart company, Ventracor Limited (ASX:VCR), has submitted
its request to commence clinical trials of its VentrAssist(TM)
'artificial heart' device.

Ventracor's Managing Director and CEO, Mr Michael Spooner, said that
the company had met a major milestone by delivering its submission to
the Ethics Committee of The Alfred hospital in Melbourne. The Alfred
will conduct the first series of 10 implants, known as a Pilot Trial.

"This submission is an accumulation of an enormous amount of data
associated with pre-clinical trials on VentrAssist(TM) devices
similar to those that will be implanted in humans.

"We have worked for the past several months with The Ethics Committee
to ensure that the information required is present in our submission
and look forward to receiving approval to commence the Pilot Trial.

"Once we have the approval needed to proceed with the first clinical
trial, and therefore the first implant, we believe that The Alfred
medical team, led by Professor Don Esmore, will actively commence the
patient recruitment process", he said.

Mr Spooner said that the precise timing for the first implant was in
the hands of the medical team, and especially the patients.

"With the best possible knowledge available at this time, the process
required to recruit patients and commence implants may take between
eight to ten weeks.

"Ventracor will assist Professor Esmore and his medical team where
ever possible leading up to and throughout the Trial period. At all
times, Ventracor will undertake those actions necessary to ensure the
confidentiality and well being of patients and their families".

Mr Spooner said that Ventracor was well positioned to significantly
improve the quality of life for hundreds of thousands of people
worldwide suffering heart failure, by obtaining a significant share
of the massive Left Ventricular Assist Device market, which is
expected to grow to between $US7 billion and $US12.5 billion annually
in the next few years.

"Our goal is to get VentrAssist(TM) to global markets as early as is
possible and to start seeing benefits flowing to both doctors and
patients.

"We have mapped out every element of the process, every aspect is
being professionally managed, and the whole company remains totally
focused on and driven toward meeting each and every milestone before
us", Mr Spooner said.

For further information contact:

Michael Spooner Julie Meldrum
MANAGING DIRECTOR CORPORATE COMMUNICATIONS MANAGER
Phone: 02 - 94063100 Phone: 02 - 94063100