Accumetrics Closes 2010 With Positive Outlook
By Accumetrics, PRNEMonday, December 6, 2010
Pharmaceutical collaboration, GRAVITAS clinical trial results, distribution agreements, and capital financing position Company for continued growth in 2011
SAN DIEGO, December 7, 2010 - Accumetrics, Inc., a privately-held developer and marketer of the
VerifyNow(R) System, the first rapid and easy-to-use point-of-care system for
measuring platelet reactivity to multiple antiplatelet agents, closes 2010
with continued positive medical community and industry support surrounding
the importance of measuring response to antiplatelet therapy. The Company
achieved several important milestones during 2010, including significant
revenue growth over 2009, continued global commercialization, certification
to ISO 13485 and CMDCAS, and the completion of a major capital financing.
In 2010, Accumetrics signed a strategic collaboration with Daiichi
Sankyo, Inc. and Eli Lilly and Company, to raise awareness about antiplatelet
therapy and the role of platelet function testing to help physicians assess
each individual patient's response to antiplatelet medications. Clinical data
and study results, including the GRAVITAS (Gauging Responsiveness With A
VerifyNow Assay-Impact On Thrombosis And Safety) trial as well as a 2,000+
patient meta-analysis, reinforced the need for platelet reactivity testing
for patients who undergo a percutaneous coronary intervention (PCI). GRAVITAS
showed that 41% of PCI patients dosed with Plavix(R) had high residual
platelet reactivity as measured by the VerifyNow P2Y12 Test, and that a
uniform treatment strategy of doubling the dose of Plavix for 6 months did
not result in improved outcomes in these patients. Clinical data presented in
2010 also demonstrated that patients with high residual platelet reactivity,
as measured by the VerifyNow P2Y12 Test, were significantly more likely to
have a major adverse cardiovascular event than patients without high
on-treatment platelet reactivity.
"2010 was a year of greater clinical understanding about the need for
individualized treatment strategies for cardiovascular patients and the
importance of continually assessing response to antiplatelet therapy," said
Timothy I. Still, President and CEO of Accumetrics. "As market dynamics
continue to shift with the introduction of new antiplatelet medications, and
with Plavix going generic in the coming year, Accumetrics is poised to
provide physicians with tools to support cost-effective clinical decision
making."
Accumetrics experienced strong growth in 2010 across all of its sales
channels. The Company expects to conclude the year with roughly $18 million
in annual revenue, and expects to be profitable in the second half of 2011.
Accumetrics recently added Medicos Hirata in Japan and Science International
Corporation in China to its global distribution network, which now includes
partnerships with over 40 leading distributors who provide local
representation in over 60 countries spanning Europe, the Americas,
Asia-Pacific and the Middle East.
Company financing in 2010 included a raise of an additional $7 million,
securing a total of $24 million in new capital since 2009. Proceeds are
expected to take the company to profitability during 2011 and will fund a
number of key milestones that will maintain Accumetrics' position as a
diagnostic leader in the point-of-care market, including expanded claims for
existing products, new product development and continued expansion of global
commercialization efforts.
About Accumetrics
Accumetrics is committed to advancing medical understanding of platelet
function and enhancing quality of care for patients receiving antiplatelet
therapies by providing industry-leading and widely accessible diagnostic
tests for rapid platelet function assessment.
Accumetrics' VerifyNow System is the first rapid and easy-to-use platform
to help physicians determine an individual's response to multiple
antiplatelet agents. Addressing every major antiplatelet drug, including
FDA-cleared products for aspirin, P2Y12 inhibitors (e.g. prasugrel
(Effient(R)) and clopidogrel (Plavix(R))), and GP IIb/IIIa inhibitors (e.g.
ReoPro(R) and Integrilin(R)), the VerifyNow System provides valuable
information to help physicians make informed treatment decisions. For more
information about the Company and its products, visit
www.accumetrics.com.
The Accumetrics logo and VerifyNow are registered trademarks of
Accumetrics, Inc. ReoPro is a registered trademark of Centocor, Inc.
Integrilin is a registered trademark of Millennium Pharmaceuticals. Plavix is
a registered trademark of sanofi-aventis. Effient is a registered trademark
of Eli Lilly and Company.
CONTACT: Megan Rusnack Lippert/Heilshorn & Associates +1-212-838-3777 mrusnack@lhai.com Timothy I. Still President and CEO Accumetrics +1-858-404-8260 press@accumetrics.com
Megan Rusnack of Lippert/Heilshorn & Associates, +1-212-838-3777, mrusnack at lhai.com, for Accumetrics; or Timothy I. Still, President and CEO of Accumetrics, +1-858-404-8260, press at accumetrics.com
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