first aust. `artifical heart` trials will begin ea

First Aust. `Artifical Heart` Trials Will Begin Early 2003
24/12/02 12:14:00 PM



VENTRACOR LIMITED 2002-12-24 ASX-SIGNAL-G


HOMEX - Brisbane



+++++++++++++++++++++++++
Australian heart company, Ventracor Limited (ASX:VCR), has received
approval to begin human clinical trials of its VentrAssist(TM)
'artificial heart' device.



Ventracor Managing Director and Chief Executive Officer, Mr Michael
Spooner, said the Ethics Committee of The Alfred hospital in
Melbourne approved a clinical Pilot Trial of about 10 implants after
a detailed review of Ventracor's submission in November.



Mr Spooner said in granting the approval, the Ethics Committee had
requested a number of minor amendments and additions but he expected
these would be resolved quickly.



He said precise timing for the first 'artificial heart' implant was
now in the hands of The Alfred hospital medical team, led by
Professor Don Esmore, and the patients themselves.



Mr Spooner said The Alfred was likely to now begin active recruitment
of patients suffering end-stage congestive heart failure and that
this process could take about 10 to 12 weeks.



"This Pilot Trial will be an independent assessment and so the timing
for commencement, patient recruitment, performing the surgical
procedure and post-operative care will all be at the discretion of
The Alfred hospital medical team.



"Ventracor will assist Professor Esmore and his medical team wherever
possible throughout the Trial process. At all times, Ventracor will
undertake those actions necessary to ensure the confidentiality and
wellbeing of patients and their families.



"This first Pilot Trial in Melbourne will be a precursor to a larger
multi-centre global Pivotal Trial in other leading hospitals in
Australia, Europe and the United States in the second half of 2003.



"Our goal is to get VentrAssist(TM) to global markets as early as is
possible and start seeing the benefits flow 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 and driven toward meeting every milestone before us", he
said.



Mr Spooner added 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 left ventricular assist device (LVAD) market, which is
expected to grow to between $US7.5 billion and $US12 billion annually
in the next few years.



For further information, please contact:



Michael Spooner Julie Meldrum
MANAGING DIRECTOR & CEO MANAGER, CORPORATE COMMUNICATIONS
02 9406 3100 02 9406 3100 or 0419 228 128