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MedQuest® Products Inc. Strengthens Intellectual
Property Portfolio for Implantable VADs
May 15, 2002 ,SALT LAKE CITY —In
what could turn out to be the largest and fastest growing new segment in
the medical device arena, implantable ventricular assist devices for
patients with end-stage congestive heart failure, MedQuest® Products Inc.
has established itself as a leader in both technology and intellectual
property (IP). These leadership positions enable MedQuest to use
state-of-the-art technology today and in the future for product
enhancements, as well as proactively protect their commercial success in
this emerging market.
In MedQuest’s most recent move to expand its IP portfolio,
an exclusive licensing agreement was signed with the University of
Pittsburgh for technology rights to the Streamliner magnetically levitated,
axial flow, blood pump, and the award winning magnetic levitation control
scheme associated with the Streamliner pump.
Dr. Gill Bearnson, IP Manager and co-founder, stated that,
“this recent licensing allows MedQuest to enhance our already significant
IP portfolio, which now occupies the most important clinically useful
design space surrounding magnetically levitated blood pumps.”
Dr. Jim Antaki, University of Pittsburgh, and Dr. Brad
Paden, University of California at Santa Barbara, are key members of the
technical team developing the HeartQuest™ VAD; they were previously
involved in the development of the pump licensed from the University of
Pittsburgh.
The MedQuest IP portfolio currently contains 18 issued and
pending patents and makes it one of the most extensive in the magnetically
levitated blood pump segment.
In related news, Gordon Jacobs, Senior Engineer at
MedQuest announced that, “the HeartQuest™ VAD has reached a significant
milestone by successfully completing a series of animal implant studies
that exceeded one year of cumulative implant time, with durations up to 149
days. This success with our clinical prototype design reinforces our belief
that we have the best long-term pump for resolving the disabling effects of
end-stage heart failure.”
Company Background
MedQuest is a pioneer in the development of implantable
ventricular assist devices (VADs). The HeartQuest™ VAD is an implantable,
centrifugal pump that utilizes a magnetically suspended impeller to provide
a frictionless, wear-free pumping action. A VAD boosts the output of a
failing heart to normal levels. Congestive heart failure is the fastest
growing segment of the cardiovascular disease market and is diagnosed in
550,000 Americans each year; over 200,000 deaths annually are attributed to
congestive heart failure according to American Heart Association 2002
statistics .
MedQuest®, HeartQuest™, and MagLev™ are trademarks of
MedQuest® Products Inc.
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