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"Hernia repair is one of the most commonly performed surgical proceduresworldwide. BioGlue is already approved for this particular indication ininternational markets, and we believe that BioGlue, coupled with ProxyBiomedical's proprietary meshes, will give surgeons a unique option for therepair of hernia and other fascial defects," stated Steven G. Anderson,president and chief executive officer of CryoLife, Inc.
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"We believe that BioGlue provides a highly competitive method foratraumatic surgical mesh fixation. BioGlue has been used effectively forseveral surgical procedures, and we look forward to providing the product inkit form with our series of next generation surgical mesh products. BioGlueoffers a simple and effective solution for surgical mesh fixation withenhanced procedural value," stated Peter Gingras, managing director of ProxyBiomedical Limited.
Currently, the most common methods of hernia mesh fixation include suturesand tacking systems. Between 10 and 20 percent of patients complain of painresulting from hernia repair, most often associated with the fixation method.It is anticipated that the use of BioGlue, as an adjunct to sutures andtacking systems, will help minimize this incidence of postoperative pain.
BioGlue is distributed directly by CryoLife Europa in the UK and Germanyfor all types of soft tissue repair, including in cardiac, neuro and generalsurgery. In Ireland, the product is distributed through a distributor for thesame indications.
About BioGlue
BioGlue is a two-component adhesive that creates a flexible, mechanicalseal, independent of the body's clotting mechanism, within 20 to 30 seconds,and reaches its maximum bonding strength in two to three minutes.
It is FDA approved as an adjunct to sutures and staples for use in adultpatients in open surgical repair of large vessels, and is CE-marked in theEuropean Community. In addition, BioGlue is approved in Canada for use insoft tissue repair and in Australia for use in vascular and pulmonary sealingand repair.
About CryoLife, Inc.
Founded in 1984, CryoLife, Inc. is a leader in the processing anddistribution of implantable living human tissues for use in cardiac andvascular surgeries throughout the United States and Canada. In addition toBioGlue, the Company also distributes the CryoLife-O'Brien(R) stentlessporcine heart valve and the SG Model 100 vascular graft, which are CE markedfor distribution within the European Community. For additional informationabout CryoLife please visit http://www.cryolife.com.
About Proxy Biomedical Limited
Founded in 2002, Proxy Biomedical Limited, located in Galway, Ireland, isa privately held, life science company engaged in commercializing proprietarybiomaterials for the repair and regeneration of tissue. Proxy Biomedical'sproprietary surgical mesh products include MotifMesh, VitaMesh, MotifMeshMIDS, and VitaMesh MIDS, which are CE marked for distribution within theEuropean Community and FDA approved for distribution within the United States.
Statements made in this press release that look forward in time or thatexpress management's beliefs, expectations or hopes are forward-lookingstatements within the meaning of the Private Securities Litigation Reform Actof 1995. These statements include those regarding anticipated benefits ofusing BioGlue in
