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
MMD Price at posting:
0.0¢ Sentiment: LT Buy Disclosure: Held