Avinger Expands Intellectual Property Portfolio
Avinger, Inc. (AVGR) announced significant growth in its intellectual property portfolio with the issuance of 19 new patents in 2020, including 10 in the U.S. and 9 internationally. This expansion reinforces Avinger's leadership in the treatment of Peripheral Artery Disease (PAD) with its unique intravascular imaging technology. The company's patent portfolio now totals 179, enhancing its competitive edge in the market. Looking ahead, Avinger plans to advance its next-generation imaging console, Lightbox 3, through regulatory processes, revealing potential revenue growth opportunities.
- Issued 19 new patents in 2020, reinforcing intellectual property portfolio.
- Total of 179 patents supports competitive advantage in the PAD market.
- Plans to advance Lightbox 3 through regulatory process, indicating future product development.
- None.
19 New U.S. and International Patents Issued and Allowed in 2020
REDWOOD CITY, CA / ACCESSWIRE / January 19, 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 provided an update on the expansion of its intellectual property portfolio in 2020.
Avinger announced the issuance and allowance of 10 new patents in the U.S. and 9 new patents in international markets in 2020, including 7 new patents related to its recently introduced Tigereye™ image-guided CTO crossing catheter. With the addition of these patents and new filings made during the year, Avinger's intellectual property portfolio now includes 179 patents and pending applications, including 38 issued and allowed patents in the U.S. and 75 issued and allowed patents outside the U.S. The portfolio has broad applicability in the areas of atherectomy, CTO-crossing and intravascular imaging and is applicable to both peripheral and coronary vessels.
"We are introducing new innovations and improvements to our platform as we pursue our mission of radically changing the way vascular disease is treated," commented Jeff Soinski, Avinger's President and CEO. "Our growing intellectual property portfolio evidences the uniqueness of our approach, and provides an important competitive advantage as we market the first and only intravascular OCT-guided therapeutic catheters for the treatment of PAD. In addition to supporting our commercial products, our proprietary technologies provide the foundation for our pipeline products, including our next-generation imaging console, Lightbox 3, which we plan to advance through the regulatory process this year. We are also leveraging our technology platforms for the development of our first coronary applications, which are anticipated to bring the benefits of real-time image guidance to an expanded patient population and unlock significant new revenue growth opportunities for the company."
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, our intention to advance Lightbox 3 through the regulatory process this year and the benefits and revenue growth opportunities of the development of our first coronary applications. 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 6, 2020, 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.
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