Kerberos to put Rinspiration Thrombectomy System up for bid

May 7 2012

Co-Founders of Kerberos Proximal Solutions, Inc., announced today that, during the upcoming Paris Course on Revascularization (www.europcr.com), they plan to actively engage in discussions to put the company's proprietary Rinspiration technology platform up for bid, seeking buyers with complementary portfolios and distribution channels.

“I have used the Kerberos System in the most challenging circumstances, both in the heart and the legs. I have found it to be one of the best thrombectomy devices on the market”

The Rinspiration Thrombectomy System, developed by Kerberos Proximal Solutions, enables simultaneous rinsing and aspiration for the removal of acute thrombus in occluded arteries. "I have used the Kerberos System in the most challenging circumstances, both in the heart and the legs. I have found it to be one of the best thrombectomy devices on the market," commented Dr. Stefan Kiesz, interventional cardiologist and President of the San Antonio Endovascular & Heart Institute. Recognized by clinicians for its inherent efficiency and ease of use, the Rinspiration System experienced rapid early adoption for the treatment of patients suffering from acute myocardial infarction (AMI) and chronic limb ischemia (CLI).

With applications in both the coronary and peripheral space, the Kerberos system was sought after and ultimately acquired by FoxHollow Technologies in 2006. Due to an unexpected series of subsequent acquisitions by ev3 followed by Covidien, commercialization of the Rinspiration device became dormant, opening up the opportunity for Kerberos to regain rights to the technology.

The technology being offered for auction includes multiple published patents in the field of thrombectomy, proximal protection and physician specified vascular infusion along with multiple Design Dossiers and FDA cleared 510(k)s specific to the Rinspiration device.

John MacMahon, co-founder of Kerberos Proximal Solutions, commented "Management of acute thrombus remains a growing underserved clinical need. Our clinical data has clearly demonstrated the compelling benefits of the Rinspiration technology and we are excited to engage in conversations that enable reintroduction of the novel Rinspiration System to the market for the benefit of physicians seeking a better solution for the treatment of their patients."

The market for coronary and peripheral thrombectomy is estimated to exceed $300M in the US and represent an additional $600M opportunity outside of the US. Other players in the thrombectomy market include Medtronic [MDT], HotSpur Technologies, Medrad Interventional/ Possis [BAYN], Atrium Medical [STO:GETIB], and Spectranetics [SPNC].