Axsun Technologies, A Wholly-Owned Subsidiary of Volcano Corporation, Announces Breakthrough Integrated Light Source Architecture for Optical Coherence Tomography (OCT) Imaging

BILLERICA, Massachusetts, December 7 - Axsun Technologies, Inc., a wholly-owned subsidiary of Volcano
Corporation (Nasdaq: VOLC), today announced the initial development and
successful testing of a novel integrated light source architecture for OCT
imaging. Axsun believes this proprietary optical engine design raises the bar
on imaging speed and overcomes fundamental limitations of laser-based designs
for swept source OCT light sources. This approach to optical engines builds
on over 10 years of Axsun's core integrated light source technology and is
protected by a number of issued patents. The core technology is based on a
non-laser source of photons and is called the High Definition Swept Source
(or "HDSS(TM)") because it is expected to enable high resolution at
unprecedented speeds in medical imaging systems. Axsun's HDSS has been tested
at breakthrough speeds of 200kHz - approximately 4 to 10 times faster than
commercially available OCT imaging systems - all while maintaining the
extraordinarily compact size, ultra-high reliability and low-cost volume
manufacturability that Axsun is known for.

(Photo: www.newscom.com/cgi-bin/prnh/20091207/AQ21327 )

"Axsun is a leading developer and supplier of tunable lasers for OCT
imaging, offering the highest speed integrated optical products on the market
today," explained Dale Flanders, President of Axsun. "We are thrilled to
further advance the speed and performance of OCT imaging with HDSS, and are
very excited by the performance potential of this unique non-laser
architecture. The HDSS light source will be made available to our parent
company Volcano in the vascular imaging field, where we expect HDSS will
enable unprecedented imaging speed, resolution and 3D image detail in
Volcano's future multi-modality imaging systems. Furthermore, the imaging
speed, resolution, size, weight and durability enabled by the HDSS should
open up vast areas of imaging in OCT and spectroscopy applications. We will
work with Volcano to examine various partnership and vertical market
opportunities for this very exciting new addition to the Axsun product
portfolio."

"We acquired Axsun for their significant expertise spanning a broad range
of disciplines within optics and photonics - including the design and
manufacture of MEMs-based optical and mechanical components, optical fiber
design, manipulation and assembly, light sources used in optical imaging and
spectroscopy, and sophisticated electronics and electro-mechanical systems
needed to support complete solutions. This latest development - the HDSS
light source - is yet another example of the world-class engineering
capabilities at Axsun," added Scott Huennekens, CEO of Volcano Corp. "We are
confident that the HDSS will provide Volcano OCT imaging products with a
sustainable competitive advantage in this exciting growth market. In addition
to driving our planned OCT system for vascular imaging, we expect that this
new light source will also support future offerings in spectroscopy and
spectral imaging. Furthermore, given the extraordinary breadth of
opportunities that we see for OCT and spectroscopy in other areas of medicine
and life sciences, we also welcome partnership discussions with other
vertical market medical device, diagnostic and drug development companies and
researchers who are interested in exploring OEM, integration and/or
collaborative research projects related to the HDSS engine."

"The benefits of light source scanning speed in many OCT imaging
applications cannot be overstated. As higher and higher speeds are attained,
true three dimensional structures can be easily imaged in seconds, and field
clearance/flushing can be minimized and motion artifacts reduced or
eliminated. Such improvements make devices more user friendly for the
operator, and allow for easier interpretation of the images. For example, at
200kHz speeds we expect to be able to scan the proximal 2/3rds of a human
coronary artery in as little as one second - literally in a single beat of
the heart. This should allow an OCT scan to be performed during any
conventional manual flush procedure, which are routine and frequent during
angiograms and percutaneous interventions. This should mean no extended
flushing, no repeated or special flushing steps or protocols," added Vince
Burgess, President of Advanced Imaging Systems at Volcano Corp. "High
precision minimally invasive imaging holds the promise of higher quality of
care while reducing unnecessary procedures due to imprecise diagnosis and
imperfect therapy delivery in many, many areas of medicine - not just
interventional cardiology. As healthcare reform ushers in a new era of
attention to cost-effective care - at the same or higher levels of quality
and availability - we believe that the capabilities of OCT and
spectroscopy-based imaging will gain greater and greater attention."

About Axsun Technologies

Axsun Technologies, Inc., a Volcano subsidiary, established in 1998,
develops and manufactures MEMS-based optical engines for industrial
spectroscopy, optical telecommunications and medical imaging, applications.
Through its expertise in micro-optics, packaging and precision engineering,
Axsun has pioneered an entirely new class of high-performance, miniaturized
instruments and devices enabling a dramatic shift from lab based measurements
to on-line, at-line and in-vivo measurements, without compromising
performance. Axsun was acquired by Volcano in December 2008.

About Volcano Corporation

Volcano Corporation (NASDAQ: VOLC) offers a broad suite of devices
designed to facilitate endovascular procedures, enhance the diagnosis of
vascular and structural heart disease and guide optimal therapies. The
company's intravascular ultrasound (IVUS) product line includes ultrasound
consoles that can be integrated directly into virtually any modern cath lab.
Volcano IVUS offers unique features, including both single-use phased array
and rotational IVUS imaging catheters, and advanced functionality options,
such as VH(R) IVUS tissue characterization and ChromaFlo(R). Volcano also
provides functional measurement (FM) consoles and single-use pressure and
flow guide wires and is developing a line of ultra-high resolution Optical
Coherence Tomography (OCT) and Forward-Looking IVUS systems and catheters.
Currently, more than 4,700 Volcano IVUS and FM systems are installed
worldwide, and more than half of Volcano's revenues are derived from outside
the United States. Through its wholly-owned subsidiary, Axsun Technologies,
Volcano also develops and manufactures optical monitors, lasers and optical
engines used in telecommunications, spectroscopy and other industrial
applications. These products are sold to a variety of customers, including
Nokia Siemens, Ericsson, Alcatel-Lucent and Huawei Technologies. For more
information, visit the company's website at www.volcanocorp.com.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning
of the U.S. Private Securities Litigation Reform Act of 1995. Any statements
in this release regarding Volcano's or Axsun's business that are not
historical facts may be considered "forward-looking statements," including
statements regarding the features, application and potential benefits of the
HDSS light source and related technologies described above and of Volcano or
Axsun's products, and market adoption of the related technology.
Forward-looking statements are based on management's current preliminary
expectations and are subject to risks and uncertainties, which may cause
Volcano's 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 from the results predicted are detailed in the
company's annual report on Form 10-K, quarterly reports on Form 10-Q and
other filings made with the Securities and Exchange Commission. Undue
reliance should not be placed on forward-looking statements, which speak only
as of the date they are made. Volcano undertakes no obligation to update any
forward-looking statements to reflect new information, events or
circumstances after the date they are made, or to reflect the occurrence of
unanticipated events.

    www.axsun.com
    www.volcanocorp.com

Note to Editors:

A picture accompanying this release is available through the PA
Photowire. It can be downloaded from www.pa-mediapoint.press.net or
viewed at www.mediapoint.press.net or www.prnewswire.co.uk.

A picture accompanying this release is available from the European
Pressphoto Agency (EPA) at www.epa-photos.com.

Dale Flanders of Axsun Technologies, Inc., a Volcano company; or Diane Flynn, Business Development of Volcano Corp., +1-978-262-0049, Fax, +1-978-262-0035