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Apollo Endosurgery, Inc.
Lazar Partners Ltd.
Apollo Endosurgery’s OverStitch™ Endoscopic Suturing Platform Launches in Europe
OverStitch™ receives European CE Mark, will begin shipping product this month
AUSTIN, TX - April 2, 2013 – Apollo Endosurgery, Inc., a company focused on the development of devices that enable a new generation of endoscopic surgical procedures, announced that its OverStitch™ Endoscopic Suturing System has received the European Union’s CE Mark. The company plans to immediately launch the system to select centers in several European countries.
Apollo Endosurgery's OverStitch platform combines the flexibility of endoscopy with the precision of surgical suturing, allowing physicians to access, manipulate and suture internal tissue without making incisions through the skin. The platform therefore allows physicians to offer less invasive options for the patient and perform a broad range of endoscopic surgical procedures in the treatment of GI defects, GI cancer and bariatrics.
"In addition to allowing us to repair defects in the digestive tract that we never could before, this new flexible endoscopic suturing device offers potential advantages over open and laparoscopic surgery including lower risk of infection, less post-operative pain, faster recovery time and no visible scars," said Dr. Horst Neuhaus, Professor of Internal Medicine, Evangelisches Krankenhause Dusseldorf. He went on to say, “With this new endoscopic suturing platform, trained physicians can safely perform many procedures endoscopically, from inside, that previously would have required a more traditional surgical approach.”
Dr. Luigi Angrisanni, President Elect for the International Federation of Surgery for Obesity (IFSO) indicated “Endoscopic suturing with the OverStitch device provides great potential to transform how we treat the bariatric patient by offering new less invasive endoscopic approaches for both early intervention and the treatment of complications from previous surgical weight loss procedures.”
The company is working with distributors in several European countries to identify top interventional gastroenterologists and surgeons to participate in the initial phase of the European launch.
“We are pleased to have received the CE Mark for the OverStitch Endoscopic Suturing System and believe the European market provides a great opportunity for Apollo to positively impact the lives of millions of patients. Our efforts to improve patient care through less-invasive procedures will continue to highlight endoscopic surgery’s prominence in the world of healthcare,” Dennis McWilliams, President and CEO of Apollo Endosurgery said. “Apollo Endosurgery will continue to strive towards maintaining its leadership position as an innovator and a driving force in advancing this new class of less invasive therapies.”
About Apollo Endosurgery, Inc.
Apollo Endosurgery, Inc. is dedicated to revolutionizing patient care through the advancement of endoscopic surgery, which is emerging from the convergence of laparoscopic surgery and therapeutic endoscopy. Endoscopic surgery minimizes the trauma of surgical access by taking advantage of natural orifices to deliver surgical tools to targeted areas. All of Apollo’s products are compatible with existing flexible endoscope platforms. Apollo Endosurgery was cofounded with the Apollo Group, a unique collaboration of physicians from the Mayo Clinic, Johns Hopkins University, Medical University of South Carolina, the University of Texas Medical Branch and the Chinese University of Hong Kong. This collaboration developed a broad portfolio of patents in the field of endoscopic surgery that became the foundation of Apollo Endosurgery. The company has also received a grant from the Cancer Prevention Research Institute of Texas.
Apollo Endosurgery and OverStitch™ are either registered trademarks or trademarks of Apollo Endosurgery, Inc. in the US and/or other countries.