Xcorporeal, Inc. (OTCBB:XCPL) announced today that The Los Angeles Times has featured the company’s Wearable Artificial Kidney prototype device (WAK) in a story following a presentation delivered by Victor Gura M.D., the company’s Chief Scientific Officer, at The American Society of Nephrology’s (ASN) Renal Week. The presentation, titled, “Continuous Renal Replacement Therapy with a Wearable Device,” discussed the first human study conducted in London earlier this year with a prototype of the company’s WAK. The article may be viewed at: http://www.latimes.com/features/health/la-he-lab12nov12,1, 6584708.story?coll=la-headlines-health&ctrack=1&cset=true (Due to its length, this URL may need to be copied/pasted into your Internet browser’s address field. Remove the extra space if one exists.)
The ASN is organized and operated exclusively for scientific and educational purposes, including enhancing the field of nephrology by advancing the scientific knowledge and clinical practice of that discipline through stimulation of basic and clinical investigation, providing access to new knowledge through the publication of journals and the holding of scientific meetings, advocating for the development of national health policies to improve the quality of care for renal patients, cooperating with other national and international societies and organizations involved in the field of nephrology, and using other means as directed by the Council of the Society.
Xcorporeal, Inc. is a medical device company developing an innovative extra-corporeal platform technology that may be used in devices to replace the function of various human organs. The platform leads to three initial products; a device for home hemodialysis, another device for hospital Renal Replacement Therapy (RRT) and the WAK, being presented today, for continuous ambulatory hemodialysis. These devices will seek to provide patients with improved, efficient and cost effective therapy. The RRT markets represent multibillion dollar opportunities.
For the RRT market, Xcorporeal is developing a portable, multifunctional renal replacement device that will offer cost effective therapy for those patients suffering from Acute Renal Failure (ARF) which causes a rapid decline in kidney function. In the U.S., the disease affects more than 200,000 patients annually, with a mortality rate of 50%. The Xcorporeal platform technology is a natural fit for the hospital market of renal replacement therapy since the technology is designed to provide cost-effective, continuous therapy without the need for expensive replacement fluids. The projected 2007 market opportunity for the U.S. is approximately $1.4 billion. The disposable market is expected to grow at 10% per year. The devices typically need to be replaced every five years. The Company intends to commercialize this device during the first half of 2009.
Xcorporeal also plans to commercialize a home hemodialysis machine and the WAK for the End Stage Renal Disease (ESRD) market, which includes patients with severe kidney disease in which the kidneys cease to function. Xcorporeal’s devices will combine the best attributes of currently marketed home hemodialysis machines to create hemodialysis devices which offer patients convenient, durable and truly portable devices for home use. The Company believes its machines will provide a cost-effective alternative to current home treatment modalities, due to their ability to offer hemodialysis without the need for dialysate fluids. The WAK is in addition a revolutionary device intended to enable patients with ESRD to achieve a quality of life closer to that of healthy individuals.
Additional Company information may be found on the Internet at: www.xcorporeal.com.
Except for statements of historical fact, the matters discussed in this press release are forward looking and made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements reflect numerous assumptions and involve a variety of risks and uncertainties, many of which are beyond the company’s control that may cause actual results to differ materially from stated expectations. These risk factors include, among others, limited operating history, difficulty in developing, exploiting and protecting proprietary technologies, intense competition and substantial regulation in the medical device industry; and additional risks factors as discussed in the reports filed by the company with the Securities and Exchange Commission, which are available on its website at http://www.sec.gov.