The patients were randomized to treatment with a paclitaxel-eluting stent or vascular brachytherapy using any Food and Drug Administration-approved, [beta]-source radiation system.
Hospital Center, and a pioneer in the development of vascular brachytherapy.
Sponsored by Best Vascular, the breakfast symposium will update the status of vascular brachytherapy and the BetaCath(TM) of Novoste for 2006 and will feature presentations on the treatment of drug-eluting stent restenosis with vascular brachytherapy and five-year clinical follow-up data with the BetaCath(TM) system.
Best Vascular, an affiliate of Best Medical, was established for the purpose of focusing on the vascular brachytherapy business acquired from Novoste.
We are hopeful that the results of this trial combined with the recently announced amended and restated asset purchase agreement pursuant to which Best Vascular, an affiliate of Best Medical International, will acquire the Novoste vascular brachytherapy assets and business, will provide comfort to cardiologists that the technology is safe and effective and the supply of these products will continue on an ongoing basis.
Krish Suthanthiran, President of Best Medical International said: "We have always believed in the capability of vascular brachytherapy to provide a therapy for instent restenosis and the post approval study serves to validate our belief and experience.
was a difficult product to market even before the advent of drug-eluting stents, and we believe our sales team did a terrific job in a tough environment.
Novoste Corporation, based in Atlanta, GA, develops advanced medical treatments for coronary and vascular diseases and is the worldwide leader in vascular brachytherapy
This charge represents management's best estimate of potential impairment at this time given the declining market for vascular brachytherapy, and the Company's suspension of production of RSTs, as it is able to meet near term RST needs from existing inventories.
In addition to consolidating our vascular brachytherapy business, we have taken steps to attempt to determine what strategic alternatives are available to us.
Novoste Corporation (NASDAQ: NOVT) announced today that due to the continuing challenges facing the Company's vascular brachytherapy
products business, which have resulted in a sustained decline in the Company's revenues, it has been actively seeking new product opportunities, as well as a merger, business combination or other disposition of its business or assets.
It was always clear that DES would be used aggressively by physicians, however, we continue to believe that as physicians determine the best use of these devices, they will continue to use vascular brachytherapy
(VBT) to treat those patients where in-stent restenosis occurs.