| 9Danvers,
Mass., October 21, 2004 -- ABIOMED, Inc. (NASDAQ: ABMD) announced
today that the company has completed its clinical, engineering, and
manufacturing analyses following the death of AbioCor patient Mr.
Don Graham on September 26th. The failure of his device was caused
when two factors combined to place excessive loads on the system,
resulting in the early wear-out of a bearing. First, Mr. Graham had
a small cardiovascular anatomy resulting in a unique device orientation
within his chest. Second, his particular device had a shutter that,
although within specifications, had a limited range in controlling
left and right blood flow. The combination of these factors required
more demanding settings on the device to manage flow control than
had been previously experienced in either bench or clinical testing.
Separately, neither of these conditions would create abnormal wear,
but together they created an operating condition that led to the early
bearing wear-out.
"While we were able to give Don an additional 147 days with
his family, we regret that we were not able to extend his life longer,
especially since plans were being made for him to return home,"
commented Michael R. Minogue, CEO and President of ABIOMED. "Don
was a hero, and we are grateful to him and his family for the contribution
they made on behalf of all heart failure patients. We have learned
from our experiences and our entire team will remember his courage
as we work to further improve the AbioCor."
As a result of this investigation, ABIOMED has initiated immediate
actions to help prevent this situation from recurring. These actions
will include changes in the manufacturing selection process of the
shutter and guidelines for device and patient management.
"Our application to the FDA for commercial approval under
a Humanitarian Device Exemption is on track and proceeding as expected,"
added Mr. Minogue. "Of course, we have remained in close contact
with the FDA throughout this investigation and will continue to
do so."
Don Graham, 73, from New Albany, Indiana, received the AbioCor
on May 3, 2004 in a surgery conducted by Drs. Laman Gray and Rob
Dowling, investigators for the AbioCor clinical trial at Jewish
Hospital/University of Louisville. He is survived by his wife Bonnie
and other family members.
"After our experience with 7 patients, we believe the AbioCor
has the potential to provide significant benefits to patients with
heart failure who otherwise have no hope," commented Dr. Gray.
"During Mr. Graham's 147 days on support he had no evidence
of stroke and was able to celebrate a birthday and anniversary,
take trips outside the hospital, and spend time with family and
friends."
One patient currently remains on support at Jewish Hospital in
Louisville. Implanted on May 23, 2004, the patient remains under
intensive care as a result of conditions including organ complications
that pre-dated the AbioCor implant.
Candidates for the AbioCor clinical trial must suffer from biventricular
heart failure, be ineligible for heart transplantation and not able
to be helped by any other available therapy, and have a high probability
of dying in less than 30 days. In September 2004, ABIOMED applied
for initial FDA market approval for the AbioCor to treat a defined
subset of irreversible end-stage heart failure patients under a
Humanitarian Device Exemption.
cuss fiscal 2005 second quarter results on Monday, November 1st at
11:00 a.m. Eastern Time. This call may be heard live via our web site
at www.abiomed.com.
ABOUT ABIOMED
Based in Danvers, Massachusetts, ABIOMED, Inc. (pronounced "AB'-EE-O-MED")
is a leading developer, manufacturer and marketer of medical products
designed to assist or replace the pumping function of the failing
heart. ABIOMED currently manufactures and sells the AB5000™
Circulatory Support System and the BVS® 5000 Biventricular Support
System for the temporary support of all patients with failing but
potentially recoverable hearts. In Europe, ABIOMED offers the IMPELLA®
RECOVER® minimally invasive cardiovascular support systems under
CE Mark approval. The IMPELLA products are not yet available for
sale in the United States. The Company's AbioCor® Implantable
Replacement Heart was the subject of an initial clinical trial under
an Investigational Device Exemption from the United States Food
and Drug Administration. The AbioCor has not been approved for commercial
distribution, and is not available for use or sale outside of the
initial clinical trial. For additional information please visit:
www.abiomed.com.
Contacts:
Liza Heapes
ABIOMED, INC.
Media Relations
(978) 646-1668
mediarelations@abiomed.com
Daniel Sutherby
ABIOMED, INC.
Chief Financial Officer
(978) 646-1812
ir@abiomed.com
FORWARD-LOOKING STATEMENTS
This Release contains forward-looking statements, including statements
regarding development of ABIOMED's existing and new products, the
Company's progress toward commercial growth, and future opportunities.
The Company's actual results may differ materially from those anticipated
in these forward-looking statements based upon a number of factors,
including uncertainties associated with development, testing and
related regulatory approvals, anticipated future losses, complex
manufacturing, high quality requirements, dependence on limited
sources of supply, competition, technological change, government
regulation, future capital needs and uncertainty of additional financing
and other risks and challenges detailed in the Company's filings
with the Securities and Exchange Commission, including the Annual
Report filed on Form 10-K. Readers are cautioned not to place undue
reliance on any forward-looking statements, which speak only as
of the date of this Release. The Company undertakes no obligation
to publicly release the results of any revisions to these forward-looking
statements that may be made to reflect events or circumstances that
occur after the date of this Release or to reflect the occurrence
of unanticipated events.
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