Avinger Announces Issuance and Allowance of Seven U.S. Patents

Rhea-AI Summary

Avinger, Inc. (NASDAQ:AVGR) announced on May 25, 2021, the issuance of seven U.S. patents, enhancing its intellectual property portfolio to 182 patents, including 41 in the U.S. These patents primarily pertain to Avinger's proprietary optical coherence tomography (OCT) systems and related catheters for treating vascular diseases. The CEO emphasized that this expanding portfolio underpins their competitive advantage in the market for the first and only intravascular OCT-guided therapeutic catheters, as well as future products like the Lightbox 3 imaging console.

Positive

• Issuance of seven new U.S. patents increases portfolio to 182 patents.
• 41 patents issued and allowed in the U.S., enhancing competitive edge.
• CEO highlights potential for next-generation products, including Lightbox 3.

Negative

• None.

REDWOOD CITY, CA / ACCESSWIRE / May 25, 2021 / Avinger, Inc. (NASDAQ:AVGR), a commercial-stage medical device company marketing the first and only intravascular image-guided, catheter-based system for diagnosis and treatment of Peripheral Artery Disease (PAD), today announced the issuance and allowance of seven U.S. patents to date in 2021.

These new U.S. patents include a wide range of claims relating to Avinger's proprietary optical coherence tomography (OCT) intravascular imaging system and its OCT-guided catheters for the treatment of vascular disease. With the addition of these patents and new filings made in 2021, Avinger's intellectual property portfolio now numbers 182 patents and pending applications, including 41 issued and allowed patents in the U.S. and 76 issued and allowed patents outside the U.S. The portfolio has broad applicability in the areas of atherectomy, CTO-crossing and intravascular imaging for both peripheral and coronary vessels.

"We continue to build our intellectual property portfolio as we expand our pipeline of proprietary products and bring new innovations and improvements to our intravascular imaging platform," commented Jeff Soinski, Avinger's President and CEO. "Our growing intellectual property portfolio supports the highly differentiated nature of our products and provides an important competitive advantage as we market the first and only intravascular OCT-guided therapeutic catheters for the treatment of vascular disease. Our proprietary technologies provide the foundation for our next-generation pipeline products, including our Lightbox 3 imaging console, anticipated to be commercially available later this year, and the development of our first coronary applications, which we believe represents a transformational opportunity for Avinger."

About Avinger, Inc.
Avinger is a commercial-stage medical device company that designs and develops the first and only image-guided, catheter-based system for the diagnosis and treatment of patients with Peripheral Artery Disease (PAD). PAD is estimated to affect over 12 million people in the U.S. and over 200 million worldwide. Avinger is dedicated to radically changing the way vascular disease is treated through its Lumivascular platform, which currently consists of the Lightbox imaging console, the Ocelot and Tigereye™ family of chronic total occlusion (CTO) catheters, and the Pantheris® line of atherectomy devices. Avinger is based in Redwood City, California. For more information, please visit www.avinger.com.

Forward-Looking Statements
This news release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 and the Private Securities Litigation Reform Act of 1995. These forward-looking statements include statements regarding our future performance, the applications of our intellectual property, the timing of commercial availability of Lightbox 3, the development of our first coronary applications, and the benefits and revenue growth opportunities of our proprietary technologies. Such statements are based on current assumptions that involve risks and uncertainties that could cause actual outcomes and results to differ materially. These risks and uncertainties, many of which are beyond our control, include the resource requirements related to Lightbox 3 and the development of our first coronary applications, the efficacy of such products, and competition from other products; as well as the other risks described in the section entitled "Risk Factors" and elsewhere in our Annual Report on Form 10-K filed with the Securities and Exchange Commission on March 11, 2021, and in our Quarterly Reports on Form 10-Q. These forward-looking statements speak only as of the date hereof and should not be unduly relied upon. Avinger disclaims any obligation to update these forward-looking statements, except as required by law.

Investor Contact:
Mark Weinswig
Chief Financial Officer
Avinger, Inc.
(650) 241-7916
ir@avinger.com

Matt Kreps
Darrow Associates Investor Relations
(214) 597-8200
mkreps@darrowir.com

SOURCE: Avinger, Inc.

View source version on accesswire.com:
https://www.accesswire.com/648910/Avinger-Announces-Issuance-and-Allowance-of-Seven-US-Patents

FAQ

What recent patents were issued to Avinger (AVGR)?

Avinger announced the issuance of seven new U.S. patents related to its optical coherence tomography system.

How many patents does Avinger currently hold?

Avinger holds a total of 182 patents, with 41 issued and allowed in the U.S.

What is the significance of Avinger's new patents?

The new patents support Avinger's competitive advantage in the vascular treatment market and enhance its proprietary product offerings.

What is the expected timeline for the launch of Lightbox 3 by Avinger?

The Lightbox 3 imaging console is anticipated to be commercially available later this year.