NASDAQ, TSX: NVCN
VANCOUVER, March 5, 2019 /CNW/ - Neovasc Inc.
("Neovasc" or the "Company") (NASDAQ: NVCN)(TSX: NVCN), a leader in the development of minimally invasive transcatheter mitral
valve replacement technologies and in the development of minimally invasive devices for the treatment of refractory angina, today
announced that an implant procedure of the Neovasc Reducer™ ("Reducer") was featured in a "Live Case" broadcast at the
Cardiovascular Research Technologies (CRT) meeting being held March 2-5, 2019 in Washington, DC.
The implant procedure was performed by Dr. Francesco Giannini from the Maria Cecilia Hospital
in Cotignola, Italy. The patient, a 71 year-old male, who despite five bypass surgeries, seven
percutaneous coronary intervention procedures and maximum antianginal medical therapy, continued to suffer with Canadian
Cardiovascular Society class 4 angina, (which means the patient is unable to carry on any physical activity without
discomfort).
The transmitted implant procedure was straightforward, the physician was able to find the coronary sinus rapidly and the case
lasted less than 30 minutes. Following the case there was a lot of interest from the CRT audience, including comments on the
procedure and curiosity about the Reducer's mechanism of action. This patient was a textbook candidate for the Reducer
procedure.
"We are pleased to have the Reducer featured in a live case performed by Dr. Giannini at this year's CRT meeting. With an
international audience for this case, including many of the leading cardiologists in the U.S., CRT is a valuable venue for us to
bring additional attention to the benefits our Reducer offers patients suffering from refractory angina," commented Fred Colen, Neovasc's President and Chief Executive Officer.
About CRT
CRT, one of the world's leading interventional cardiology conferences, is attended by more than 3,000 interventional
and endovascular specialists. At the 2018 meeting, CRT featured the first live complex coronary case performed entirely by women.
That live case was one of 16, and future CRT meetings will feature more live cases. The conference, held each year in
Washington, DC, is supported by MedStar Heart & Vascular Institute and serves as a forum for
physician and health-care professional education about new cardiovascular technology and interventional procedures in the field.
The meeting is actually several conferences at once, with tracks including CRT Valve & Structural, CRT Endovascular,
Technology & Innovation, Atherosclerosis & Research, and Nurses & Technologists.
About Reducer
The Reducer is CE-marked in the European Union for the treatment of refractory angina, a painful and debilitating
condition that occurs when the coronary arteries deliver an inadequate supply of blood to the heart muscle, despite treatment
with standard revascularization or cardiac drug therapies. It affects millions of patients worldwide, who typically lead severely
restricted lives as a result of their disabling symptoms, and its incidence is growing. The Reducer provides relief of angina
symptoms by altering blood flow in the heart's circulatory system, thereby increasing the perfusion of oxygenated blood to
ischemic areas of the heart muscle. Placement of the Reducer is performed using a minimally invasive transvenous procedure that
is similar to implanting a coronary stent and is completed in approximately 20 minutes.
About Neovasc Inc.
Neovasc is a specialty medical device company that develops, manufactures and markets products for the rapidly growing
cardiovascular marketplace. Its products include the Reducer, for the treatment of refractory angina, which is not currently
commercially available in the United States and has been commercially available in Europe since 2015, and the Tiara™, for the transcatheter treatment of mitral valve disease, which is
currently under clinical investigation in the United States, Canada and Europe. For more information, visit: www.neovasc.com.
This news release contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act
of 1995 and applicable Canadian securities laws regarding the growing incidence of refractory angina and the rapidly growing
cardiovascular marketplace. Words and phrases such as "continue", "strategy", "goal", "would", "may", "could", "should", "expect"
and "will", and similar words or expressions, are intended to identify these forward-looking statements. Forward-looking
statements are based on estimates and assumptions made by the Company in light of its experience and its perception of historical
trends, current conditions and expected future developments, as well as other factors that the Company believes are appropriate
in the circumstances. Many factors and assumptions could cause the Company's actual results, performance or achievements to
differ materially from those expressed or implied by the forward-looking statements, including, without limitation, the
substantial doubt about the Company's ability to continue as a going concern; risks relating to the warrants (the "Warrants") and
senior secured convertible notes (the "Notes") issued pursuant to the November 2017 underwritten
public offering and concurrent private placement (together, the "2017 Financings"), resulting in significant dilution to the
Company's shareholders; risks relating to the Company's need for significant additional future capital and the Company's ability
to raise additional funding; risks relating to cashless exercise and adjustment provisions in the Warrants and Notes issued
pursuant to the 2017 Financings, which could make it more difficult and expensive for the Company to raise additional capital in
the future and result in further dilution to investors; risks relating to the sale of a significant number of common shares of
the Company; risks relating to the exercise of Warrants or conversion of Notes issued pursuant to the 2017 Financings, which may
encourage short sales by third parties; risks relating to the possibility that the Company's common shares may be delisted from
the Nasdaq Capital Market or the Toronto Stock Exchange, which could affect their market price and liquidity; risks relating to
the Company's common share price being volatile; risks relating to the influence of significant shareholders of the Company over
the Company's business operations and share price; risks relating to the Company's significant indebtedness, and its effect on
the Company's financial condition; risks relating to claims by third parties alleging infringement of their intellectual property
rights; risks relating to lawsuits that the Company is subject to, which could divert the Company's resources and result in the
payment of significant damages and other remedies; the Company's ability to establish, maintain and defend intellectual property
rights in the Company's products; risks relating to results from clinical trials of the Company's products, which may be
unfavorable or perceived as unfavorable; the Company's history of losses and significant accumulated deficit; risks associated
with product liability claims, insurance and recalls; risks relating to use of the Company's products in unapproved
circumstances, which could expose the Company to liabilities; risks relating to competition in the medical device industry,
including the risk that one or more of the Company's competitors may develop more effective or more affordable products; risks
relating to the Company's ability to achieve or maintain expected levels of market acceptance for the Company's products, as well
as the Company's ability to successfully build its in-house sales capabilities or secure third-party marketing or distribution
partners; the Company's ability to convince public payors and hospitals to include the Company's products on their approved
products lists; risks relating to new legislation, new regulatory requirements and the efforts of governmental and third-party
payors to contain or reduce the costs of healthcare; risks relating to increased regulation, enforcement and inspections of
participants in the medical device industry, including frequent government investigations into marketing and other business
practices; risks associated with the extensive regulation of the Company's products and trials by governmental authorities, as
well as the cost and time delays associated therewith; risks associated with post-market regulation of the Company's products;
health and safety risks associated with the Company's products and industry; risks associated with the Company's manufacturing
operations, including the regulation of the Company's manufacturing processes by governmental authorities and the availability of
two critical components of the Reducer; risk of animal disease associated with the use of the Company's products; risks relating
to the manufacturing capacity of third-party manufacturers for the Company's products, including risks of supply interruptions
impacting the Company's ability to manufacture its own products; risks relating to the Company's dependence on limited products
for substantially all of the Company's current revenues; risks relating to the Company's exposure to adverse movements in foreign
currency exchange rates; risks relating to the possibility that the Company could lose its foreign private issuer status under
U.S. federal securities laws; risks relating to breaches of anti-bribery laws by the Company's employees or agents; risks
associated with future changes in financial accounting standards and new accounting pronouncements; risks relating to the
Company's dependence upon key personnel to achieve its business objectives; the Company's ability to maintain strong
relationships with physicians; risks relating to the sufficiency of the Company's management systems and resources in periods of
significant growth; risks associated with consolidation in the health care industry, including the downward pressure on product
pricing and the growing need to be selected by larger customers in order to make sales to their members or participants; risks
relating to the Company's ability to successfully identify and complete corporate transactions on favorable terms or achieve
anticipated synergies relating to any acquisitions or alliances; risks relating to the Company's ability to successfully enter
into fundamental transactions as defined in the Series C warrants issued pursuant to the 2017 Financings; anti-takeover
provisions in the Company's constating documents which could discourage a third party from making a takeover bid beneficial to
the Company's shareholders; and risks relating to conflicts of interests among the Company's officers and directors as a result
of their involvement with other issuers. These risk factors and others relating to the Company are discussed in greater detail in
the "Risk Factors" section of the Company's Annual Report on Form 20-F and in the Amended and Restated Management's Discussion
and Analysis for the quarter ended September 30, 2018 (copies of which may be obtained at www.sedar.com or www.sec.gov). The
Company has no intention and undertakes no obligation to update or revise any forward-looking statements beyond required periodic
filings with securities regulators, whether as a result of new information, future events or otherwise, except as required by
law.
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SOURCE Neovasc Inc.
View original content: http://www.newswire.ca/en/releases/archive/March2019/05/c7154.html