IRVINE, Calif.–(BUSINESS WIRE)–Furthering its mission to transform the treatment of aortic disorders, Endologix, Inc. (OTC: ELGXQ) (“Endologix” or the “Company”) today announced the first implant of its recently approved ALTO® endograft outside of the United States, completed by Andrew Holden, MD, and Andrew Hill, MD, of Auckland City Hospital, Auckland, New Zealand.
“With the 7 mm infrarenal placement of its sealing ring, ALTO expands the endovascular treatment of AAA patients to include short and challenging aortic necks, which represent a significant portion of the underserved AAA market,” commented Dr. Holden. “We are excited to add ALTO to our endovascular armamentarium and look forward to offering this solution to a broad set of AAA patients.”
Dr. Hill added, “The ALTO endograft, with its ultra-low-profile delivery system, is ideal for treating patients with small vessels and challenging access. The new system provides a unique endovascular option, representing an important advancement for physicians and their AAA patients.”
“We are excited to commence the global roll-out of ALTO. With our planned transition to a more agile private company and our steadfast investments in clinical evidence and innovation, we are poised to meet the needs of our customers and the patients we proudly serve. ALTO offers a unique endovascular AAA treatment option and includes design features that we believe will enhance ease-of-use, improve acute outcomes, and preserve long-term durability,” commented John Onopchenko, Chief Executive Officer of Endologix. “With both FDA approval and CE Mark, ALTO is an important therapy for physicians and their patients and yet another example of our highly differentiated portfolio of devices aimed at addressing the current unmet needs of endovascular aneurysm repair (EVAR). As we continue to execute our strategy, Endologix is committed to investing in the highest levels of clinical evidence, by initiating a head-to-head randomized controlled trial where ALTO will be compared to traditional undifferentiated EVAR grafts, with the intent of proving the superiority of ALTO. We are passionately devoted to our patient centric mission and its ultimate goal of improving patients’ lives by enabling a single intervention to achieve a long-term durable repair. We sincerely appreciate the support of our physician partners around the globe.”
About Endologix, Inc.
Endologix, Inc. develops, manufactures, markets and sells innovative medical devices for the treatment of aortic disorders. The Company’s products are intended for the minimally invasive endovascular treatment of abdominal aortic aneurysms (“AAA”). AAA occurs when a portion of the abdominal aorta bulges into an aneurysm because of a weakening of the vessel wall, which may result in life threatening internal bleeding upon rupture. The overall patient mortality rate for ruptured AAA is approximately 80%, making it among the leading causes of death in the United States. For more information, visit www.endologix.com.
Cautions Regarding Forward-Looking Statements
Except for historical information contained herein, this press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements generally can be identified by the use of words such as “anticipate,” “expect,” “could,” “may,” “will,” “believe,” “estimate,” “forecast,” “goal,” “project,” “continue,” “outlook,” “guidance,” “future,” other words of similar meaning and the use of future dates. Forward-looking statements used in this press release include, but are not limited to, statements regarding the Company’s expectations regarding the plan to take the Company private, the acceleration of the Company’s investments in clinical evidence and innovation, the ability to meet patient needs with the Company’s ALTO product, and the Company’s ability to successfully market its ALTO product, the accuracy of which are necessarily subject to risks and uncertainties that may cause Endologix’s actual results to differ materially and adversely from the statements contained herein. Some of the potential risks and uncertainties that could cause actual results to differ materially and adversely from anticipated results the Company’s ability to complete its Chapter 11 process and the transactions contemplated by the agreement to take the Company private and the Company’s ability to achieve the expected results of its ALTO product. Undue reliance should not be placed upon the forward-looking statements contained in this press release, which speak only as of the date of this press release. Endologix undertakes no obligation to update any forward-looking statements contained in this press release to reflect new information, events or circumstances after the date they are made, or to reflect the occurrence of unanticipated events. Please refer to Endologix’s filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K for the year ended December 31, 2019 and its Quarterly Reports on Form 10-Q, for more detailed information regarding these risks and uncertainties and other factors that may cause actual results to differ materially from those expressed or implied.
Cindy Pinto, Interim CFO