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BARRX Medical, Inc. Acquires Intellectual Property Rights for Barrett's Esophagus, Expands Portfolio

Posted on: Wednesday, 22 March 2006, 09:00 CST

BARRX Medical, Inc. today announced that on March 16, 2006, the Company entered into an assignment and license agreement with Curon Medical Inc. (Nasdaq: CURN) for the assignment of United States Patent No. 6,872,206 and a worldwide exclusive license of certain patents for the treatment of Barrett's esophagus. This transaction strengthens BARRX Medical's strong intellectual property position within the field of Barrett's esophagus and allows the company to expand applications of the technology outside of this disease state. BARRX Medical, Inc. has paid Curon Medical Inc. $2.0 million in cash and $1.0 million in the form of a note payable by December 31, 2006.

Barrett's esophagus is a precancerous condition of the esophagus caused by GERD (gastroesophageal reflux disease), affecting approximately 3.3 million Americans. Left untreated, Barrett's esophagus can lead to esophageal adenocarcinoma, the fastest rising cancer in the U.S.

"Our acquisition of these patents provides BARRX Medical, Inc. with valuable and broad intellectual property that will strengthen our existing leadership position in the use of ablation therapy to treat Barrett's esophagus," said Greg Barrett, President and CEO of BARRX Medical, Inc. "Moreover, the acquisition expands our IP portfolio for other applications of our technology, which we expect to explore in the near future."

About the HALO360 System

The HALO360 System is the first of a new generation of ablation tools that provides uniform and controlled ablative therapy at a consistent depth to remove the layer of the diseased esophageal tissue allowing replacement by normal cells. The procedure, which in clinical studies had a median procedure time of 26 minutes, is performed without incisions using conscious sedation in an out-patient setting. First, a physician uses a HALO360 sizing balloon catheter to dilate the esophagus and determine its inner diameter. A correctly sized ablation catheter is then inflated within the diseased area of the esophagus. The HALO360 energy generator is activated to deliver a rapid (less than one second) burst of ablative energy, which removes a very thin (less than one millimeter) layer of the diseased esophagus. Controlled delivery of energy avoids injury to normal, healthy underlying tissues. New healthy tissue replaces the ablated Barrett's tissue in three to four weeks for most patients, according to trial results. Minor discomfort, which may be experienced by some patients, has been managed in the trials with medication. Following ablation therapy, patients resume acid suppression therapy.

About BARRX Medical, Inc.

BARRX Medical, Inc. develops treatment solutions for Barrett's esophagus, a precancerous condition of the lining of the esophagus (swallowing tube) caused by gastroesophageal reflux disease, or GERD. Its flagship product, the HALO360 System, provides uniform and controlled therapy at a consistent depth, which can remove Barrett's esophagus and allow the re-growth of normal cells. In the largest study conducted, 70 percent of patients were Barrett's-free (at twelve- month follow up). The system used in the clinical trials was cleared by the U.S. Food and Drug Administration in 2001 and has been commercially available since January 2005. Based in Sunnyvale, Calif., BARRX Medical, Inc. was founded in 2000 and is privately-held. Additional information about BARRX Medical, Inc. and the HALO360 System is available at www.barrx.com.

About Curon Medical, Inc.

Curon Medical develops, manufactures and markets innovative proprietary products for the treatment of gastrointestinal disorders. The Company's products and products under development consist of radiofrequency generators and single use disposable devices. Its first product, the Stretta System, received U.S. Food and Drug Administration clearance in April 2000 for the treatment of gastroesophageal reflux disease, commonly referred to as GERD. The Company's Secca System for the treatment of bowel incontinence received clearance from the FDA in March 2002. For more information on the Company or its products, please visit the Company's website at http://www.curonmedical.com.

Source: Business Wire

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