VenoValve and CoreoGraft to be Discussed at VEITH
IRVINE, CA / ACCESSWIRE / November 19, 2019 / Hancock Jaffe Laboratories, Inc. (NASDAQ:HJLI, HJLIW), a developer of medical devices that restore cardiac and vascular health, announced today that Dr. Jorge Hernando Ulloa, the Principal Investigator for HJLI's VenoValve study in Colombia, and Dr. Marc H. Glickman, HJLI's Senior Vice President and Chief Medical Officer, will be making presentations at the world renowned VEITH Vascular Symposium taking place November 19 to November 23 at the New York Hilton in New York City.
Dr. Ulloa will be making two presentations on the VenoValve. One of the presentations is entitled Safety and Efficacy Report on the VenoValve (First-in-Man), and the other presentation will be part of a symposium entitled New Horizons in Venous Valves. Dr. Glickman, an international authority on flow dynamics, will be making a presentation entitled AV Graft Coatings and Configurations: How Do We Chose Which is Best.
"Due to the buzz that is being created with the VenoValve and the CoreoGraft, our schedule at VEITH this week is extremely busy with interest in our products from leading medical device companies and key opinion leaders," said Robert Berman, Hancock Jaffe's Chief Executive Officer. "The vascular community recognizes the uniqueness and the enormous potential for our products, and I am proud that our medical professionals are being asked to present at the largest and arguably the most prestigious vascular conferences in the world".
On October 24, 2019, HJLI released six-month data from patients from its first-in-man VenoValve trial. The VenoValve was developed to treat chronic venous insufficiency ("CVI") due to valvular incompetence of the deep vein system. The six-month data showed significant improvements in all study endpoints, minimal safety issues, and dramatic improvement and healing of venous ulcers. Approximately 2.4 million people in the U.S. suffer from CVI due to reflux in the deep venous system, indicating a potential U.S. addressable market for the VenoValve in excess of $14 Billion. There are currently no FDA approved devices, or effective treatments for deep venous CVI. HJLI has implanted ten patients and the first-in-man trial is the precursor to the U.S. pivotal trial for the VenoValve.
HJLI's CoreoGraft is a small caliber graft being tested for use is coronary artery bypass graft ("CABG") surgeries. HJLI released preliminary data from its animal feasibility study in August, and six-month data is scheduled to be released next month. There are approximately 200,000 CABG surgeries each year in the U.S. The current standard for CABG surgeries is to harvest the saphenous vein from the patient's leg, and to use the saphenous vein to revascularize the heart. The saphenous vein harvest procedure is extremely painful for the patient, subject to complications, and reports indicate that saphenous veins have a 10% to 40% failure rate during the first year after implantation. HJLI's CoreoGraft is a potential alternative to the saphenous vein. With 200,000 CABG surgeries performed each year in the U.S., the potential addressable U.S. market for the CoreoGraft is approximately $2 Billion.
The VEITH Symposium provides Vascular Surgeons and other Vascular Specialists with the most current information about new developments in clinical practice and relevant research on non-cardiac vascular diseases and state of the art vascular treatments. The symposium attracts nearly 5,000 attendees, and 600 faculty members including vascular surgeons, radiologists, cardiologists, cardiac surgeons and vascular medicine specialists, as well as major medical device and pharmaceutical companies.
About Hancock Jaffe Laboratories, Inc.
Hancock Jaffe Laboratories (HJLI) specializes in developing and manufacturing bioprosthetic (tissue based) medical devices to establish improved standards of care for treating cardiac and vascular diseases. Hancock Jaffe currently has two lead product candidates: the VenoValve®, a porcine based valve which is intended to be surgically implanted in the deep venous system of the leg to treat reflux associated with Chronic Venous Insufficiency; and the CoreoGraft®, a bovine tissue based off the shelf conduit intended to be used for coronary artery bypass surgery. Hancock Jaffe has a 20-year history of developing and producing FDA approved medical devices that sustain or support life. The current management team at Hancock Jaffe has been associated with over 80 FDA or CE marked medical devices. For more information, please visit HancockJaffe.com.
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