SAN DIEGO, March 31, 2014 (GLOBE NEWSWIRE) -- REVA Medical, Inc. (ASX:RVA) ("REVA" or the "Company") will hold a conference call to discuss the Company's decision to fast-track the development of its "thin-strut" fully bioresorbable scaffold family, Fantom™. Robert Stockman, the Company's Chairman and Chief Executive Officer, will host the call.
REVA announced on March 26, 2014 that it was positioning the Company to focus all resources on preparing Fantom for clinical trials to begin by the end of this year, and would cease expending further resources on its ReZolve scaffold, other than to follow patients in existing clinical trials. As part of the plan to focus on Fantom, REVA completed a reduction in its workforce of approximately 45% and is proceeding with its financing plans to raise between US$20 million and US$25 million to fund the development of, and clinical trials necessary for the regulatory application of, Fantom.
The call is scheduled for 2:30 p.m. US PDT on Wednesday, April 2, 2014 (which is 8:30 a.m. AEDT on Thursday, 3 April 2014) and may be accessed within the United States and Canada by dialing 1-877-312-5413 five minutes prior to the scheduled start time. Callers in Australia may access the call by dialing (02) 8223 9773. If you are asked to provide an access code, please spell out the word "REVA" to the operator and you will be connected promptly.
If you reside outside of Australia, the United States, or Canada, or if you prefer to access the audiocast through our website, please visit "Events & Presentations" under the "Investors" section of our website at www.revamedical.com, and click on the "listen to webcast" link. A replay of the audiocast will be available on our website after the call.
REVA is a development stage medical device company located in San Diego, California, USA, that is focused on the development, testing, and eventual commercialization of its proprietary bioresorbable stent products, which are also called "scaffolds." The Company's technologies combine its stent designs with its proprietary polymer; these products are designed to offer full x-ray visibility, clinically relevant sizing, and a controlled and safe resorption rate. The Company has several products in clinical study phase. A total of 112 patients were enrolled in its most recent trial in Australia, Brazil, Europe, and New Zealand; they will be followed for a total of five years, with primary data to be obtained at nine and 12 months. REVA will require successful clinical results and regulatory approval before it can commercialize any of its products.
This announcement contains or may contain forward-looking statements that are based on management's beliefs, assumptions and expectations and on information currently available to management. All statements that are not statements of historical fact, including those statements that address future operating performance and events or developments that we expect or anticipate will occur in the future, are forward-looking statements, such as those statements regarding our ability to raise financing to fund our operations on terms favorable to us or at all, our ability to obtain the regulatory approvals, our ability to timely and successfully complete our clinical trials, our ability to protect our intellectual property position, our ability to commercialize our products if and when approved, our ability to develop and commercialize new products, and our estimates regarding our capital requirements and financial performance, including profitability. You should not place undue reliance on these forward-looking statements. Although management believes these forward-looking statements are reasonable as and when made, forward-looking statements are subject to a number of risks and uncertainties that may cause our actual results to vary materially from those expressed in the forward-looking statements, including the risks and uncertainties that are described in the "Risk Factors" section of our Annual Report on Form 10-K filed with the United States Securities and Exchange Commission (the "SEC") on March 17, 2014. Any forward-looking statements in this announcement speak only as of the date when made. REVA does not assume any obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.
CONTACT: United States Investor and Media Enquiries: Cheryl Liberatore Director, Investor Relations and Marketing REVA Medical, Inc. +1 858 966-3045 Australia Investor Enquiries: Kim Jacobs Inteq Limited +61 2 9229 2700 Media Enquiries: Rebecca Wilson Buchan Consulting +61 3 9866 4722
Source:REVA Medical, Inc.