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ventracor lodges ethics approval

  1. 470 Posts.
    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

    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

    "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
    Phone: 02 - 94063100 Phone: 02 - 94063100

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