Novelis' offering consists of a forward-looking manually steered imaging system comprised of a laptop-sized console with advanced custom software and single-use catheters both with and without RF ablation. The system and accessories are not approved for human use at this time and have not been submitted to FDA for regulatory clearance.

The company expects to file for appropriate U.S. and international approvals on the first of several devices during 2009 and begin commercialization of a stand-alone imaging console in the second half of 2009 in the U.S. and Europe. Volcano expects a majority of the purchase price to be written off immediately as in process research and development and to incur ongoing development costs in the range of $300,000 to $400,000 per quarter.


About Volcano

Volcano Corporation 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(TM) tissue characterization and ChromaFlo®. 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) systems and catheters. Currently, more than 3,300 Volcano IVUS and FM systems are installed worldwide, with approximately half of the revenues coming from outside the United States. For more information, visit the company's website at http://www.volcanocorp.com.

About Novelis

Novelis is creating a platform technology for forward visualization in minimally invasive procedures. Its initial products are designed to enhance the Interventional Cardiologist's ability to treat coronary chronic total occlusions (CTOs) during minimally invasive procedures in the cardiac catheterization laboratory. Chronic total occlusions -- complete blockages of the coronary arteries -- remain one of the most challenging clinical problems faced by Interventional Cardiologists. Current solutions for the treatment of CTOs require the costly, cumbersome, and time consuming use of a series of devices to treat these occlusions. As a consequence, most patients with CTOs continue to be referred for the far more invasive and expensive procedure -- coronary artery bypass grafting (CABG).

Novelis is developing a patented, guided CTO crossing catheter that will provide visualization and therapy in a single, easy-to-use, handheld device. By combining a sophisticated forward- looking imaging technology with occlusion-crossing therapy, the guided CTO crossing catheter is expected to allow clinicians to cross CTOs with a reduced risk of complications such as vessel wall perforation and dissection. In addition, Novelis expects to introduce an "imaging only" version of the catheter which will be the first forward- looking intravascular ultrasonic (IVUS) imaging catheter aimed at facilitating CTOs and other coronary interventions. For more information, visit the company's website at http://www.novelismedical.com.

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