Bioscience

Arizona Heart Innovative Technologies Licenses New Endovascular Device

November 25, 2008

By Flinn Foundation

[Source: Biospace.com/PRNewswire] – Arizona Heart Innovative Technologies, LLC (AHIT) announced the license of a new medical device for endovascular use to a publicly traded medical device company. “This is the second AHIT-developed product that we have licensed in the past ten months. We continue to demonstrate our ability to bridge the gap between good ideas from the medical community to commercially viable products for medical device companies. This confirms the viability of our business model to serve as a cost-effective supplementary research and development resource for companies,” says AHIT President and CEO, Bill Colone. “We have additional products that have completed the development process and we are continuing to discuss options with many device companies.”

AHIT licensed the endovascular product in July of 2007 from Hani Shennib, MD, a cardiovascular surgeon formerly at the Arizona Heart Hospital. The product was prototyped, tested and marketed to multiple medical companies immediately following positive clinical test results. The product should reach both the U.S. and international markets by the first quarter of 2009.