Here’s a roundup of recent clinical trial and scientific study news:
Endologix Inc. (NSDQ:ELGX) closed its acquisition of Palo Alto, Calif.-based Nellix.
The all-stock deal, which Endologix announced Oct. 27, expands its aortic disorder treatment devices. The Irvine, Calif.-based company said the merger is designed to increase its share of the aortic repair market.
Endologix Inc. (NSDQ:ELGX) won CE Mark approval for its "expanded offering" of Powerlink stent graft products and PowerFit aortic extensions in the European Union.
The company may now begin marketing and selling 31 new sizes of its Powerlink stent grafts and 18 mm to 32 mm diameter models of the company’s PowerFit aortic extensions across the pond, allowing physicians to treat a wider patient population.
C.R. Bard Inc.’s (NYSE:BCR) peripheral vascular unit sued a pair of competitors over a patent covering its prosthetic vascular grafts made from expanded polytetrafluoroethylene.
The lawsuit, filed in the U.S. District Court for Arizona, accuses Endologix Inc. (NSDQ:ELGX) and Atrium Medical Corp. of infringing Bard’s patent for "Prosthetic Vascular Graft." Bard alleges that Atrium’s Advanta line of grafts and stents, its iVena vascular patch and Flixene graft violate the patent and that Endologix runs afoul with its Powerlink stent grafts.
A patent infringement lawsuit filed against Endologix Inc. (NSDQ:ELGX) by C.R. Bard Inc. (NYSE:BCR) isn’t stopping Endologix from pursuing opportunities to develop its expanded polytetrafluoroethylene stent graft technology.
Irvine, Calif.-based Endologix signed a deal to license a Canadian firm’s balloon expandable stent technology, saying it plans to integrate the technology into its Powerlink stent graft.
Endologix Inc. (NSDQ:ELGX) posted fourth-quarter sales of $13.7 million for the three months ended Dec. 31, 2009, up 27.9 percent compared with $10.7 million during the same period in 2008. Net losses narrowed 57.1 percent to $676,000, compared with $1.6 million during Q4 2008:
Endologix Reports 28% Fourth Quarter 2009 Revenue Growth and Continued Positive Cash Flow from Operations
Provides 2010 revenue guidance of $62 to $66 million, an increase of 18% to 26%