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Press Releases

Corindus Announces Strategic Partnership with BLOXR Solutions to Distribute Line of Radiation Protection Products

April 24, 2017

Addition of lightweight radiation protection apparel represents commitment to safety for entire cath lab team

WALTHAM, Mass.--(BUSINESS WIRE)-- Corindus Vascular Robotics, Inc. [NYSE MKT: CVRS], a leading developer of precision vascular robotics, announced today a strategic partnership with BLOXR Solutions, a leading provider of radiation protection products designed to reduce exposure for clinicians and patients. The three-year distribution agreement grants Corindus the non-exclusive rights to distribute BLOXR's radiation protection products globally and provides BLOXR with additional reach into the interventional cardiology space. Under the agreement, Corindus may sell the entire BLOXR line, which offers multiple types of protective equipment including aprons, thyroid collars and caps.

“Protecting the physicians and staff who care for patients every day is an important part of our mission,” said Mark Toland, President and Chief Executive Officer of Corindus. “We are excited to partner with BLOXR to offer complementary radiation protection products for our cath lab customers around the world.”

Corindus' CorPath® System, the first robotic-assisted PCI platform cleared by the FDA, has been shown* to reduce radiation exposure to the primary operator by 95%1 by positioning them behind a radiation-shielded interventional workstation. Clinical trials with the CorPath System* have also shown a 15%2 reduction in radiation exposure for cath lab staff, which can potentially be further enhanced by the addition of the BLOXR line of lightweight protective apparel. BLOXR® XPF® apparel, which has the potential to further reduce the orthopedic burden for these critical team members, is a patented, comfortable, lightweight material that can be bent and folded without cracking, provides 0.5mm lead equivalent protection and is guaranteed for three years.

“In keeping with our focus of bringing innovation to radiation protection, BLOXR Solutions is excited to make this strategic partnership with Corindus,” said Julia Jacobson, President and CEO of BLOXR Solutions. “Together, we believe we can greatly improve the quality of life for interventional teams by reducing dose exposure, increasing radiation safety, and improving wellness by lessening the potential for occupational injury.”

About Corindus Vascular Robotics

Corindus Vascular Robotics, Inc. is a global technology leader in robotic-assisted vascular interventions. The company's CorPath® System is the first FDA-cleared medical device to bring robotic precision to interventional procedures. During the procedure, the interventional cardiologist sits at a radiation-shielded workstation to advance guide catheters, stents, and guidewires with millimeter-by-millimeter precision. The workstation allows the physician greater control and the freedom from wearing heavy lead protective equipment that causes musculoskeletal injuries. With the CorPath System, Corindus Vascular Robotics brings robotic precision to interventional procedures to help optimize clinical outcomes and minimize the costs associated with complications of improper stent placement during manual procedures. Corindus stands behind its product with its unique $1,000 hospital credit "One Stent Program." For additional information, visit www.corindus.com, and follow @CorindusInc.

About BLOXR Solutions

BLOXR Solutions, LLC is a leading provider of radiation protection products designed to reduce exposure for clinicians and patients through innovative applications of its proprietary technologies. BLOXR® XPF® Technology provides the foundation for a complete line of safer, greener, lighter radiation protection apparel, cream and shielding products for medical and industrial applications. ULTRABLOX® X-Ray Attenuation Cream is the only topical product available to provide effective scatter radiation protection of a clinician's hands during radiological procedures, without affecting dexterity and tactile feel. XPF garments allow clinicians to wear a lightweight alternative to lead and like-lead products with effective protection against scatter radiation.

BLOXR Solutions is a certified minority, woman-owned small business headquartered in Salt Lake City, Utah. It is a wholly owned subsidiary of NEXT Medical Products Company, a manufacturer of ultrasound gel products and adjustable patient positioning devices for use during surgical procedures.

Forward Looking Statements

Statements made in this release that are not statements of historical or current facts are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements may involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of Corindus to be materially different from historical results or from any future results or projections expressed or implied by such forward-looking statements. Accordingly, readers should not place undue reliance on any forward looking statements. In addition to statements that explicitly describe such risks and uncertainties, readers are urged to consider statements in the conditional or future tenses or that includes terms such as "believes," "belief," "expects," "estimates," "intends," "anticipates" or "plans" to be uncertain and forward-looking. Forward-looking statements may include comments as to Corindus’ beliefs and expectations as to future events and trends affecting its business and are necessarily subject to uncertainties, many of which are outside Corindus’ control.

Examples of such statements include statements:

  • that Corindus' CorPath® System has been shown to reduce radiation exposure to the primary operator by 95% by positioning them behind a radiation-shielded interventional workstation;
  • that clinical trials have shown a 15% reduction in radiation exposure for cath lab staff, which can potentially be further enhanced by the addition of the BLOXR line of lightweight protective apparel;
  • that BLOXR® XPF® apparel has the potential to further reduce the orthopedic burden for cath lab staff; and
  • that a partnership between Corindus and BLOXR Solutions can greatly improve the quality of life for interventional teams, by reducing dose exposure, increasing radiation safety, and improving wellness by lessening the potential for occupational injury.

Important factors that could cause actual results to differ materially from those indicated by such forward-looking statements are described in the sections titled "Risk Factors" in the company's filings with the Securities and Exchange Commission, including its most recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q, as well as reports on Form 8-K, including, but not limited to the following: the rate of adoption of our CorPath System and the rate of use of our cassettes; risks associated with market acceptance, including pricing and reimbursement; our ability to enforce our intellectual property rights; our need for additional funds to support our operations; our ability to manage expenses and cash flow; factors relating to engineering, regulatory, manufacturing, sales and customer service challenges; potential safety and regulatory issues that could slow or suspend our sales; and the effect of credit, financial and economic conditions on capital spending by our potential customers. Forward looking statements speak only as of the date they are made. Corindus undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise that occur after that date. More information is available on Corindus' website at http://www.corindus.com.

1 Weisz, G. et al. Safety and Feasibility of Robotic Percutaneous Coronary Intervention: PRECISE Study. J Am Coll Cardiol. 2013; 61(15):1596-1600.
2 Campbell et al. Staff Exposure to X-ray during PCI: Randomized Comparison of Robotic vs Manual Procedures. Presented at SCAI 2016.
* Studies conducted using CorPath 200 System.

Source: Corindus Vascular Robotics, Inc.

Corindus Vascular Robotics, Inc.

Media Contact:

Kate Stanton, 508-653-3335 ext. 200

kate.stanton@corindus.com

or

Investor Contact:

Lynn Pieper Lewis, 415-937-5402

ir@corindus.com

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