Xcorporeal, Inc. (AMEX:XCR) announced today that Dan Goldberger, Chief Executive Officer at Xcorporeal, will be presenting at the Seventh Annual NeedhamÂ Biotechnology & Medical TechnologyÂ Conference, at the New York Palace Hotel in New York City, on Thursday, June 12, 2008 at 3:30 p.m. Eastern Time.
The CompanyÂ™s presentation will also be webcast live and archived for future reference, for 30 days, at www.wsw.com/webcast/needham25/xcor/ and also available on the CompanyÂ™s website at www.xcorporeal.com.
Xcorporeal, Inc. is a medical device company developing an innovative extra-corporeal platform technology to be used in devices to replace the function of various human organs. These devices will seek to provide patients with improved, efficient and cost effective therapy. The platform leads to three initial products: a Portable Artificial Kidney (PAK) for hospital Renal Replacement Therapy, a PAK for home hemodialysis, and a Wearable Artificial Kidney (WAK) for continuous ambulatory hemodialysis.
For the hospital market, Xcorporeal is developing a portable, multifunctional renal replacement device that will offer cost-effective therapy for those patients suffering from Acute Renal Failure, which causes a rapid decline in kidney function. In the U.S., the disease affects more than 200,000 patients annually with a mortality rate approaching 50%, according to a study published in the Clinical Journal of American Society of Nephrology in 2006. The Xcorporeal platform technology is designed to provide cost-effective, continuous therapy. The Company has completed its functional prototype of the product, which is currently undergoing bench testing, and anticipates submitting a 510(k) filing with the Food and Drug Administration (FDA) during the fourth quarter of 2008.
The Company also plans to commercialize a home hemodialysis device for the chronic End Stage Renal Disease (ESRD) market, comprised of patients in whom the kidneys have ceased to function. The CompanyÂ™s devices are intended to combine the best attributes of currently marketed home hemodialysis machines to offer patients convenient, durable and truly portable treatments at home. The Company believes its devices will provide a cost-effective alternative to current home treatment modalities, due to their ability to offer hemodialysis without the need for large quantities of dialysate fluid or purified water. The Company has also completed its functional prototype of the product, which is currently undergoing bench testing, and anticipates submitting a 510(k) with the FDA during the second half of 2009.
The CompanyÂ™s WAK is also a device for the chronic treatment of ESRD. The Company has successfully demonstrated a prototype system that weighs less than 6 kg., is battery operated, and can be worn by an ambulatory patient. This miniature, wearable device is intended to enable continuous (up to 24 hours Â— 7 days per week) renal replacement therapy at home. Increasing dialysis time has previously been shown to reduce morbidity and improve quality of life of ESRD patients. The WAK has recently been featured in articles written by the Los Angeles Times, The Lancet, Kidney International, and various other medical periodicals.
Additional Company information may be found on the Internet at: www.xcorporeal.com.
Except for statements of historical fact, the matters discussed in this press release are forward looking and made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements reflect numerous assumptions and involve a variety of risks and uncertainties, many of which are beyond the company’s control that may cause actual results to differ materially from stated expectations. These risk factors include, among others, limited operating history, difficulty in developing, exploiting and protecting proprietary technologies, intense competition and substantial regulation in the medical device industry; and additional risks factors as discussed in the reports filed by the Company with the Securities and Exchange Commission, which are available on its website at http://www.sec.gov.
Robert Weinstein, Chief Financial Officer, 310-923-9968
Dan Klores Communications
Tim Sullivan, 212-981-5234