Catheter Precision, Inc. Receives Chinese Patent for LockeT

Rhea-AI Summary

Catheter Precision, Inc. (VTAK:NYSE/American) has announced the issuance of its first LockeT patent in China. LockeT is a suture retention device used for closing percutaneous catheter access sites during various procedures, including electrophysiology, structural heart, and vascular surgery. The device is currently sold in the US and select international markets.

The company is awaiting CE mark certification, expected in Q1 2025, which will allow access to the European market. CEO David Jenkins highlighted China as a significant market for LockeT, citing its low-cost alternative status and clinical data demonstrating ease of use, patient comfort, and effectiveness in groin management, including early ambulation and same-day discharge.

Positive

• Received first LockeT patent in China, expanding intellectual property protection
• LockeT is currently sold in the US and select international markets
• CE mark certification expected in Q1 2025, potentially opening up the European market
• Clinical data shows LockeT is easy to apply, comfortable for patients, and effective in groin management

Negative

• None.

News Market Reaction

+16.06%

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+16.06% News Effect

On the day this news was published, VTAK gained 16.06%, reflecting a significant positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

FORT MILL, SC / ACCESSWIRE / September 24, 2024 / Catheter Precision, Inc. (VTAK:NYSE/American), a company engaged in the development and marketing of technologically advanced products for the cardiac electrophysiology market, today announced that has received notification of the issuance of its first LockeT patent in the country of China.

Locket is a suture retention device used in the closure of percutaneous catheter access sites during any number of catheter procedures including electrophysiology, structural heart, and vascular surgery procedures. Locket is currently sold in the US and select international territories. Catheter Precision is awaiting CE mark certification, expected in the first quarter of 2025, which opens up the large market of European countries.

David Jenkins, CEO of Catheter Precision, commented: "China represents a very large market for LockeT, given that LockeT is a low-cost alternative to other closure devices. Our clinical data demonstrate that LockeT is easy to apply, comfortable to the patient, and works well in the overall groin management of the patient, including early ambulation and same day discharge from the hospital. We are happy to see the Locket intellectual property rights issued in the international markets."

Contact Information

Missiaen Huck
COO
mhuck@catheterprecision.com
9736912000

SOURCE: Catheter Precision, Inc.

View the original press release on accesswire.com

FAQ

What is the significance of Catheter Precision (VTAK) receiving a Chinese patent for LockeT?

The Chinese patent for LockeT expands Catheter Precision's intellectual property protection in a large market, potentially opening up new business opportunities and strengthening the company's position in the cardiac electrophysiology market.

When is Catheter Precision (VTAK) expecting to receive CE mark certification for LockeT?

Catheter Precision is expecting to receive CE mark certification for LockeT in the first quarter of 2025, which would allow the company to enter the European market.

What are the key benefits of Catheter Precision's (VTAK) LockeT device?

LockeT is a low-cost alternative to other closure devices, easy to apply, comfortable for patients, and effective in groin management. It also facilitates early ambulation and same-day discharge from the hospital.

In which markets is Catheter Precision's (VTAK) LockeT device currently available?

LockeT is currently sold in the United States and select international territories, with potential expansion into China and Europe pending regulatory approvals.