SurModics Inc (SRDX): Spectranetics (SPNC) as SRDX customer......

Reply Private New

Replies (1) Next 10 Prev Next

Send PM Follow Ignore

Followers	8
Posts	744
Boards Moderated	0
Alias Born	07/16/2006

Democritus_of_Abdera

Re: None

Sunday, 12/23/2007 8:30:58 PM

Sunday, December 23, 2007 8:30:58 PM

Spectranetics (SPNC) as SRDX customer...

SPNC pays SRDX royalties for use of lubricious coatings. I do not know the complete list of Spectranetics products that use SRDX technology, but I suspect that the CLiRpath catheters are included. CLiRpath catheters are used for vascular laser angioplasty when total obstructions in the thigh and leg are not crossable with a guidewire. The CLiRpath Turbo product line with lubricious coating was launched in the third quarter of 2006.

In FY 2006 SPNC paid SRDX $372,000 (per the SPNC FY 2006 10K filed 3/16/07). This is not of the same magnitude as the Cordis payments, but it is a tidy sum never the less. Particularly, since Spectronetics is growing rapidly. Last quarter the 36% increase in SPNC’s disposable product revenue (to $17.3M) was driven primarily by a 42% increase in atherectomy product sales (the sales I presume generate SRDX revenues).

As background.... SPNC develops, manufactures, markets and distributes single-use medical devices used with their proprietary excimer laser system. Current applications include 1) atherectomy, to remove arterial blockages in the peripheral and coronary vasculature, and 2) the removal of infected, defective, or abandoned cardiac lead wires from patients with pacemakers or implantable cardiac defibrillators, or ICDs. The disposable fiber-optic laser catheters contain small diameter, flexible optical fibers to access plaques and evenly distribute laser energy.