Collaboration on Vein Imaging Technology

Luminetx Corp. (Memphis, TN, USA), a leading developer of bioscience technologies, including an infrared vein imaging system, VeinViewer, has announced a three-year distribution agreement with Diomed Holdings, Inc. (Andover, MA, USA), a developer of minimally invasive medical technologies, including its patented EVLT for varicose veins.

The agreement, which provides exclusive distribution rights to the schlerotherapy, phlebectomy, and varicose vein treatment markets in the United States and United Kingdom, includes both a U.S.$1 million investment in Luminetx and a grant of 600,000 Diomed warrants, and is expected to generate a minimum of $16 million in Luminetx revenues over the term of the agreement.

"We looked at several companies working in the schlerotherapy and phlebectomy arenas, and chose Diomed as our distribution partner because we believe they have the winning technology,” said Jim Phillips, CEO of Luminetx. "We were also very impressed with the caliber of the management team at Diomed.”

Acknowledged by Time magazine as "one of the most amazing medical inventions of the year,” VeinViewer is a breakthrough device that may transform medical procedures. The device is a venous imaging system that utilizes infrared light and other patented technologies to project a real-time image of subcutaneous veins directly onto the surface of a patient's skin. The VeinViewer is expected to be available for general distribution in
the first quarter of 2006.

The VeinViewer, cleared by the U.S. Food and Drug Administration (FDA) in 2004, is undergoing clinical assessments in both the United States and South America. Roberto Kasuo Miyake, M.D., Ph.D., a noted international researcher, schlerotherapist, and vascular surgeon at the Clinica Miyake in Sao Paulo (Brazil), commented, "VeinViewer has been a key component of our treatment protocols, and has radically improved our patient outcomes. With VeinViewer, the marks are exact, which eliminates the need for ‘fishing,' reduces additional trauma to the area, and actually allows patients to heal faster.”






Related Links:
Luminetx
Diomed Holdings