Xcorporeal Featured in BusinessWeek's Influential Inside Wall Street Column Written by Gene Marcial
March 17 2008 - 8:30AM
Business Wire
Xcorporeal, Inc. (AMEX:XCR) announced today�that renowned business
columnist Gene Marcial of BusinessWeek Magazine highlighted
Xcorporeal in the most recent edition of the magazine dated March
24, 2008. The article is also available online at
http://www.businessweek.com/magazine/content/08_12/c4076insidewal
342033.htm?chan=magazine+channel_opinion. (Due to its length, this
URL may need to be copied/pasted into your Internet browser's
address field. Remove the extra space if one exists.) According to
the article, Xcorporeal, which has developed a battery-powered,
wearable dialysis machine, is catching the eye of some investors.
�The new, smaller version could be more effective than conventional
types that require daily or thrice-weekly treatments in hospitals,"
says Marc Cummins, a company Director and fund manager of Prime
Capital, which has acquired 6.7%, or 1 million shares. Xcorporeal
also makes portable machines for home or hospital use. "The
portables will have great impact on patients suffering from kidney
failure," says Cummins. He expects the stock to soar once the Food
& Drug Administration OKs the portables for home use, expected
in late 2009. Jay Wolf, a company director and fund manager of
Trinad Capital, with a 2.5% stake, says the machines are less
costly, and more efficient. About Xcorporeal Xcorporeal, Inc. is a
medical device company developing an innovative extra-corporeal
platform technology that may be used in devices to replace the
function of various human organs. The platform will lead to three
initial products; the first, a device for hospital Renal
Replacement Therapy (RRT), another device for home hemodialysis and
the Wearable Artificial Kidney (WAK) for continuous ambulatory
hemodialysis. These devices will seek to provide patients with
improved, efficient and cost effective therapy. The RRT markets
represent multibillion dollar opportunities. For the RRT market,
Xcorporeal is developing a portable, multifunctional renal
replacement device that will offer cost effective therapy for those
patients suffering from Acute Renal Failure (ARF) which causes a
rapid decline in kidney function. In the U.S., the disease affects
more than 200,000 patients annually, with a mortality rate of 50%.
The Xcorporeal platform technology is a natural fit for the
hospital market of renal replacement therapy since the technology
is designed to provide cost-effective, continuous therapy. The
projected 2008 market opportunity for the U.S. is approximately
$1.1 billion. The disposable market is expected to grow at 10% per
year. Hospital-based devices typically need to be replaced every
five years. The Company has completed its functional prototype of
the product, which is currently undergoing bench testing, and
intends to generate an initial filing with the Food and Drug
Administration (FDA), under a 510(k), during the fourth quarter of
2008. Xcorporeal also plans to commercialize a home hemodialysis
machine for the End Stage Renal Disease (ESRD) market, which are
patients in which the kidneys cease to function. Xcorporeal's
devices will combine the best attributes of currently marketed home
hemodialysis machines to create hemodialysis devices which offer
patients convenient, durable and truly portable devices for home
use. The Company believes its machines will provide a
cost-effective alternative to current home treatment modalities,
due to their ability to offer hemodialysis without the need for
large quantities of dialysate fluid or purified water. The Company
has completed its functional prototype of the product, which is
currently undergoing bench testing, and intends to generate an
initial filing with the FDA, under a 510(k), during the second half
of 2009. The WAK will be a revolutionary device intended to enable
patients with ESRD to achieve a quality of life closer to that of
healthy individuals. The WAK has recently been featured in articles
written by The Los Angeles Times, The Lancet, Kidney International
and various other medical periodicals. Additional Company
information may be found on the Internet at: www.xcorporeal.com.
Forward-Looking Statements Except for statements of historical
fact, the matters discussed in this press release are forward
looking and made pursuant to the Safe Harbor provisions of the
Private Securities Litigation Reform Act of 1995. These
forward-looking statements reflect numerous assumptions and involve
a variety of risks and uncertainties, many of which are beyond the
company's control that may cause actual results to differ
materially from stated expectations. These risk factors include,
among others, limited operating history, difficulty in developing,
exploiting and protecting proprietary technologies, intense
competition and substantial regulation in the medical device
industry; and additional risks factors as discussed in the reports
filed by the company with the Securities and Exchange Commission,
which are available on its website at http://www.sec.gov.
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