July 23, 2008
AngioDynamics Appoints Vice President of International IRE Sales
AngioDynamics, Inc. (NASDAQ:ANGO), a leading provider of innovative medical devices used by interventional radiologists, nephrologists and surgeons for the minimally invasive treatment of cancer and peripheral vascular disease, announced today that it has appointed Agustin Gago, 49, as the Company's Vice President of International IRE Sales, a newly created position at the Company. Mr. Gago will report to Eamonn Hobbs, President and CEO of AngioDynamics, and will be responsible for developing international sales of the new NanoKnife(TM), which is the first product developed from AngioDynamics' new Irreversible Electroporation (IRE) platform technology.
"Agustin brings 25 years of experience in developing, launching and marketing cutting-edge medical technology, pharmaceutical and biotechnology products, with extensive experience in international operations," said Mr. Hobbs. "We believe IRE is one of the most compelling new technologies we've seen in our company's history, and our recent symposium at the World Conference on Interventional Oncology confirmed the tremendous amount of interest from surgeons and interventional radiologists in the technology's potential.""We are in the process of providing 20 NanoKnife(TM) systems to thought leaders in the surgical resection field," Mr. Hobbs continued. "As additional clinical trials progress and more data is obtained, we believe it is important to add a proven leader who can help manage the unique capabilities and growth potential of both NanoKnife(TM) and IRE. Given Agustin's strong working relationships with leading medical clinicians, governmental agencies and industry executives, we believe that he is the right person to lead the international operational initiatives of IRE, with expected commercial rollout beginning in the second fiscal quarter of 2009."
Mr. Gago joins AngioDynamics from E-Z-EM Inc., a provider of barium contrast media and devices for radiology, which was acquired by Bracco Diagnostics, Inc. in April 2008. Mr. Gago most recently served as Vice President, Global GI Business Unit, a position he assumed in 2002. In this role, he led the global GI marketing and international sales, managed a multi-tiered staff of 47, and grew international revenues to approximately 35% of total company sales. From 1998 until 2002, Mr. Gago served as Vice President, International Operations, where he established a sales distribution network in more than 80 countries.
Prior to joining E-Z-EM in 1998, Mr. Gago spent four years as Vice President, International Sales, at AngioDynamics. In this role, he led the Company's international sales efforts with a focus on rolling out the Company's interventional cardiology line. Mr. Gago received his Bachelor of Science degree in Business Management from Hofstra University.
About Irreversible Electroporation
Irreversible Electroporation (IRE) is a surgical resection technique in which electrical fields are used to create nano-scale defects in a cell's membrane, which causes cell death only in the targeted tissue, without destroying critical structures such as ducts, blood vessels and nerves. A research team headed by Boris Rubinsky, Distinguished Professor of Bioengineering at the University of California, Berkeley, invented the IRE technology used in the ongoing trials. The technology was exclusively licensed by the University of California to Oncobionic for commercial development. With the close of the acquisition of Oncobionic in April 2008, AngioDynamics has taken ownership of the exclusive license along with a developing portfolio of Intellectual Property in the area of IRE.
AngioDynamics, Inc. is a leading provider of innovative medical devices used by interventional radiologists, surgeons, and other physicians for the minimally invasive treatment of cancer and peripheral vascular disease. The Company's diverse product line includes market-leading radiofrequency ablation systems, vascular access products, angiographic products and accessories, dialysis products, angioplasty products, drainage products, thrombolytic products, embolization products, venous products and the new IRE platform technology. More information is available at www.angiodynamics.com.
This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements regarding AngioDynamics' expected future financial position, results of operations, cash flows, business strategy, budgets, projected costs, capital expenditures, products, competitive positions, growth opportunities, plans and objectives of management for future operations, as well as statements that include the words such as "expects,""reaffirms""intends,""anticipates,""plans,""believes,""seeks,""estimates," or variations of such words and similar expressions, are forward-looking statements. These forward looking statements are not guarantees of future performance and are subject to risks and uncertainties. Investors are cautioned that actual events or results may differ from the Company's expectations. Factors that may affect the actual results achieved by the Company include, without limitation, the ability of the Company to develop its existing and new products, future actions by the FDA or other regulatory agencies, results of pending or future clinical trials, overall economic conditions, general market conditions, market acceptance, foreign currency exchange rate fluctuations, the effects on pricing from group purchasing organizations and competition, the ability of the Company to integrate the purchased Diomed businesses as well as the risk factors listed from time to time in the SEC filings of AngioDynamics, Inc., including but not limited to its Annual Report on Form 10-K for the year ended June 2, 2007. The Company does not assume any obligation to publicly update or revise any forward-looking statements for any reason.