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Cardiak announces asset sale of cardiac business


29 October 2008
Originally a spinout company from Imperial College, London and The Royal Brompton & Harefield NHS Trust, Cardiak has developed and successfully pre-clinically tested a fully implantable heart assist device.

The device has a number of novel features such as low trauma implantation (with favourable risk/benefit profile), no direct contact with the blood (avoiding the requirement for anticoagulant therapy) and no leads passing through the skin (limiting the risk of infection).

The Board of Cardiak, following discussions with its shareholders and advisors is now seeking a sale of the assets of Cardiak via a bid process.

This sale represents an excellent opportunity to purchase an innovative technology comprising:

* Intellectual property portfolio including 3 key patents filed in many key territories covering a novel axial shift impeller pump and its associated use as an extra aortic counterpulsation device.
* A number of prototype implantable extra-aortic counter-pulsation devices, power supplies and driver systems which have demonstrated excellent haemodynamic performance in direct comparison with the current performance standard for counter-pulsation; the intra-aortic balloon pump.
* Technical details and specifications relating to the akpulsor(tm) device and the driver technology
* Cardiak brand image, internet domains and trademarks.

The technical and commercial advantages would be well suited to integration into a company seeking a complementary/line extension product to an existing range of cardiovascular devices or looking to access the Class III heart failure market.

Interested parties are requested to make their formal cash bids to the company by the closing date of 5pm GMT on Friday 7th November 2008

For further information please visit Cardiak Ltd’s website www.cardiak.co.uk or email info@cardiak.co.uk


Publisher Contact Information:

Cardiak Ltd.
-
info@cardiak.co.uk

Company profile of Cardiak Ltd.
Past press releases of Cardiak Ltd..

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