Avinger Expands International Presence with First Commercial Shipment to Chile

Rhea-AI Summary

Avinger, a medical device company focused on Peripheral Artery Disease (PAD), announced its expansion into the Chilean market with the launch of the Lumivascular product line.

The exclusive distribution agreement with Importadora y Distribuidora Arquimed Ltda will facilitate the sale of Avinger's Lightbox 3 imaging console and associated catheters. The Lightbox 3 is designed to enhance imaging capabilities during procedures, potentially improving patient outcomes without using ionizing radiation.

This move reflects Avinger's strategic growth and commitment to bringing innovative medical technologies to new regions.

Positive

• Expansion into the Chilean market with Lumivascular products.
• Exclusive distribution agreement with a reputable distributor, Arquimed, enhancing market entry.
• Introduction of the Lightbox 3 imaging console, improving imaging capabilities during medical procedures.

Negative

• Risks associated with dependency on a limited number of products.
• Challenges related to expanding into international markets.

REDWOOD CITY, CA / ACCESSWIRE / June 21, 2022 / 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 expansion of its international presence with the commercial launch of its Lumivascular products in Chile. Avinger's new Lightbox 3 imaging console will be used exclusively to support the launch of the Lumivascular platform in Chile.

To support the entry into this new international market, Avinger has signed an exclusive distribution agreement with Importadora y Distribuidora Arquimed Ltda for the sale and marketing of Avinger's proprietary Lightbox 3 imaging console and image-guided Pantheris atherectomy and Tigereye CTO-crossing catheters in Chile. Arquimed is a leading distributor in the medical field in Chile with more than 80 years of successful operating history and approximately 360 employees throughout the country.

"We are excited to expand our global customer base with the addition of Chile as a new market opportunity for Avinger's best-in-class image-guided devices, powered by our new Lightbox 3 imaging console," said Jeff Soinski, Avinger's President and CEO. "The introduction of Lightbox 3, with its enhanced imaging, streamlined user interface, and dramatically reduced size and weight, has the potential to fundamentally change how effectively and efficiently we can expand into new geographies with new customers. We look forward to partnering with Arquimed as they bring our limb and life-saving technologies to their healthcare customers in Chile and look forward to exploring additional international expansion opportunities for our proprietary technologies as the year progresses."

Avinger's Lumivascular technology incorporates an onboard image-guidance system to allow physicians, for the first time ever, to see inside the artery during an atherectomy or CTO-crossing procedure by using an imaging modality called optical coherence tomography, or OCT. During the procedure, high-resolution intravascular OCT images are displayed on Avinger's Lightbox console in real-time to guide therapy. Physicians performing therapeutic procedures with other devices must rely solely on X-ray images and tactile feedback to guide their interventions while treating complicated arterial disease. With the Lumivascular approach, physicians can more accurately navigate their devices and treat PAD lesions to deliver safe and effective outcomes, without exposing healthcare workers and patients to the negative effects of ionizing radiation.

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 series of imaging consoles, the Ocelot and Tigereye™ family of chronic total occlusion (CTO) catheters, and the Pantheris® family of atherectomy devices. Avinger is based in Redwood City, California. For more information, please visit www.avinger.com.

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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 the expansion of our international presence into Chile and our potential expansion into other markets. 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 our dependency on a limited number of products; the resource requirements related to our products; the timing and outcome of clinical trial results; the challenges of expanding into international markets, 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 22, 2022 and our Quarterly Report on Form 10-Q filed on May 10, 2022. 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.

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

Public Relations Contact:
Phil Preuss
Chief Marketing Officer
Avinger, Inc.
(650) 241-7942
pr@avinger.com

SOURCE: Avinger, Inc.

View source version on accesswire.com:
https://www.accesswire.com/705668/Avinger-Expands-International-Presence-with-First-Commercial-Shipment-to-Chile

FAQ

What is the significance of Avinger's launch in Chile?

Avinger's launch in Chile marks its expansion into new international markets, potentially increasing customer base and revenue.

How does the Lightbox 3 imaging console improve procedures?

The Lightbox 3 enhances imaging capabilities, allowing real-time high-resolution intravascular imaging, improving the accuracy of procedures.

What products are included in Avinger's Lumivascular platform?

The Lumivascular platform includes the Lightbox series, Pantheris atherectomy devices, and Tigereye CTO-crossing catheters.

What challenges might Avinger face in international expansion?

Challenges include dependency on limited products, resource requirements, and navigating regulatory environments in new markets.

What is the expected impact of Avinger's international expansion on its stock?

While expansion could drive growth, associated risks and uncertainties may influence stock performance.