VCR ventracor limited

heart trial, page-2

  1. 635 Posts.
    full text of announcement - re: heart trial Interesting that one of the directors just last week bought 100K VCR shares on the market @ ~$1.02.
    Directors buying is often a good sign.
    This director is up 15% in a week - smart to be on the inside.
    Let's hope for good results for both the patients and VCR shareholders.
    This is a one product company with plenty of upside, but failure will see the stock back to 50-60c range or lower in a flash.
    Company Announcement
    Artificial Heart Pilot Trial receives final approval

    HOMEX - Brisbane
    The Pilot Trial of Australia's 'artificial heart' will begin shortly,
    following final approval to begin human implants from the Ethics
    Committee of The Alfred hospital.

    The decision means medical investigators can begin enrolment of the
    first of 10 patients with end-stage heart failure to be implanted
    with the VentrAssist(TM) left ventricular assist device (LVAD) at the
    Melbourne hospital.

    Ventracor Managing Director and Chief Executive Officer, Mr Michael
    Spooner, said the wellbeing, dignity and privacy of patients was
    Ventracor's primary concern.

    "The aim of this Pilot Trial is to evaluate the safety of the
    VentrAssist(TM) device in humans.

    "The trial is an independent assessment and so the timing for the
    first implant is at the discretion of the medical investigators,
    headed by Professor Don Esmore and Professor David Kaye.

    "It is imperative to note that individual outcomes, although very
    important, do not necessarily reflect on the success of the entire

    "The trial results will be based on outcomes from 10 patients. To
    comply with ASX continuous disclosure requirements, any periodic
    progress reports will focus on the entire trial rather than details
    of individual patients.

    "It is the accumulation of all data on the safety of the device that
    will decide the timing of the larger, international Pivotal Trial,
    and its regulatory approval.

    "Ventracor continues to be on track to attain commercialization of
    its VentrAssist(TM) 'artificial heart' device and bring it to global
    markets in record time.

    "We want to see the benefits flow to patients and doctors worldwide
    and to our shareholders as soon as possible.

    "Ventracor is well positioned to obtain a substantial share of the
    LVAD market, which is expected to grow to between $US7.5 billion and
    $US12 billion annually in the next few years", Mr Spooner said.

    For more information, please contact:
    Michael Spooner Julie Meldrum
    02 9406 3100 02 9406 3100 or 0419 228 128
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