Covellus Announces Issuance of US Patent for a First of Its Kind Modular Catheter System
June 25, 2019
NEW JERSEY--Covellus LLC. (Covellus), a medical device company focused on the development of a novel modular catheter systems for interventional procedures, today announced that the United States Patent and Trademark Office has issued US Patent 10,328,250 covering the technology enabling this first of its kind Modular Catheter System.
Unlike the current integrated design paradigm of interventional device catheters, the Covellus modular catheter system enables physicians to combine 2 modules (a parent module with an adapter module) to create interventional device catheters at the time of the procedure to meet specific needs. Broadly, modular systems have benefits over integrated designs, which include faster time to market, reduced cost, less inventory, and more flexibility in function for the user. A modular approach to interventional catheter devices can be used to create product solutions that offer physicians the unprecedented ability to safely adapt interventional tools guided by procedural needs and reduce the carrying cost of inventory for both a manufacturer and hospital.
Covellus has developed initial modular system products that uses existing 0.035-inch PTA balloon catheters as the parent module to create interventional device catheters. This strategic approach has the advantages of leveraging an existing base of thousands of catheter devices and a therapeutic technology, Percutaneous Transluminal Angioplasty (PTA), that is well understood by interventional physicians with an established safety profile. With this strategic approach, Covellus can focus on an attachment mechanism that is universally compatible with all 0.035-inch catheters and adapter products as a simple glidepath to introduce the idea of a modular catheter system. The envisioned adapter products add rapid exchange, scoring, and drug elution among other features or functionality enhancements to standard 0.035-inch PTA balloon catheters.
The recently issued patent is the first in a broader portfolio that protects the modular catheter systems invention and future envisioned embodiments of the technology. “From our research and recent patent prosecution experience, it appears modular catheter systems of this nature have not been previously contemplated such that our patent portfolio will provide long-term market exclusivity for modular catheter systems and products,” said Bradley Beach, President and CEO of Covellus. “This first patent is an important step in realizing our vision of a modular catheter systems for interventional procedures that can provide substantial benefit to patients and hospitals.”
Covellus, located in the greater New York City area, is developing the first modular catheter system for interventional procedures. Covellus has established a clear pathway for 510(k) clearance of the initial modular catheter products utilizing an attachment mechanism that is universally compatible with all 0.035-inch catheters. Covellus is currently executing on the key high-risk elements required to gain 510(k) clearance for these products. Additional information about Covellus can be found at www.covellus.com.
To the extent any statements made in this release contain information that is not historical, these statements are essentially forward-looking and are subject to risks and uncertainties, including the difficulty of predicting FDA approvals, acceptance and demand for interventional catheter products, the impact of competitive products and pricing, new product development and launch, reliance on key strategic alliances, availability of raw materials, availability of additional intellectual property rights, availability of future financing sources, the regulatory environment and other risks the Company may identify from time to time in the future.