Catheter Precision, Inc. Receives Notice of First Patent Allowance in the US for LockeT Product Line
Rhea-AI Summary
Catheter Precision (NYSE/American: VTAK) has received its first US patent allowance for the LockeT surgical closure device, designed for orthoscopic entry wounds. This adds to the company's existing international patents for LockeT in China, Europe, and the United Kingdom.
The company expects to receive the CE mark for LockeT in the current quarter, which will enable revenue generation in Europe. The product has been well-received since its US rollout in late last year, offering improved outcomes while reducing procedure costs in international markets.
Positive
- First US patent allowance secured for LockeT surgical closure device
- Existing international patents in China, Europe, and UK strengthen IP portfolio
- CE mark approval expected in current quarter enabling European market entry
- Positive initial market reception following US rollout
Negative
- None.
News Market Reaction – VTAK
On the day this news was published, VTAK gained 1.52%, reflecting a mild positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
Fort Mill, S.C., April 14, 2025 (GLOBE NEWSWIRE) -- Catheter Precision, Inc. (VTAK - NYSE/American), a US based medical device company focused on developing technologically advanced products for the cardiac electrophysiology market announced that it has received a notice of allowance from the US Patent Office of its first patent in the US for its LockeT product, filed in December 2022, for its design of a surgical closure device for orthoscopic entry wounds.
David Jenkins, CEO of Catheter Precision, commented, “This first US patent for LockeT joins our other issued international LockeT patents that have now been issued in China, Europe, and the United Kingdom. Intellectual property protection within this large market is quite meaningful to us as we begin discussions for distribution in China and also Europe. We expect to receive the CE mark for LockeT in this quarter which clears the way to begin revenue creation in Europe. In markets outside of the United States, hospitals are also looking for new products that provide great outcomes while reducing cost per procedure. Our LockeT fits these parameters well. In the US, we began our roll out late last year, and we are quite pleased with the reception so far.”
About LockeT
Catheter Precision’s LockeT is a suture retention device intended to assist in wound closure after percutaneous venous punctures. LockeT is a Class 1 device registered with the FDA.
About Catheter Precision
Catheter Precision is an innovative U.S.-based medical device company bringing new solutions to market to improve the treatment of cardiac arrhythmias. It is focused on developing groundbreaking technology for electrophysiology procedures by collaborating with physicians and continuously advancing its products.
Cautionary Note Regarding Forward-Looking Statements
Statements in this press release may contain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 that are subject to substantial risk and uncertainties. Forward-looking statements can be identified by words such as “believe,” “anticipate,” “may,” “might,” “can,” “could,” “continue,” “depends,” “expect,” “expand,” “forecast,” “intend,” “predict,” “plan,” “rely,” “should,” “will,” “may,” “seek,” or the negative of these terms and other similar expressions, although not all forward-looking statements contain these words. These forward-looking statements include, but are not limited to, statements regarding product evaluations at the hospital, and that the purchase order indicates that the hospital and its staff see the value and benefits that LockeT can bring and expectations regarding LockeT evaluations in the coming weeks. The Company’s expectations and beliefs regarding these matters may not materialize. Actual outcomes and results may differ materially from those contemplated by these forward-looking statements as a result of uncertainties, risks and changes in circumstances, including but not limited to risks and uncertainties included under the caption “Risk Factors” in the Company’s Form 10-K filed with the SEC and available at www.sec.gov.
The forward-looking statements included in this communication are made only as of the date hereof. The Company assumes no obligation and does not intend to update these forward-looking statements, except as required by law.
CONTACTS:
At the Company
David Jenkins
973-691-2000
info@catheterprecision.com
# # #
FAQ
When did Catheter Precision receive its first US patent allowance for LockeT (VTAK)?
In which countries does Catheter Precision (VTAK) hold patents for the LockeT device?
When is Catheter Precision (VTAK) expecting to receive the CE mark for LockeT?
When did Catheter Precision (VTAK) begin rolling out LockeT in the US market?
