Colibri Heart Valve Receives Patent for Controlled Release of a Percutaneous Heart Valve Device and Strengthens Management Team

Broomfield, CO, April 16, 2015 (GLOBE NEWSWIRE) -- Colibri Heart Valve, LLC, a privately held emerging medical device company, has received its 8th allowed/granted patent directed to transcatheter heart valves. More specifically, the U.S. Patent & Trademark Office granted Colibri U.S. Patent No. 8,900,294 entitled, "Method of Controlled Release of a Percutaneous Replacement Heart Valve." The patent is directed to the partial deploying and recovery of a self-expanding replacement heart valve device, which may be flared at both ends with the valve construct attached to a proximal portion of the frame, allowing for recapturing of the replacement heart valve device. The patent has a 2002 application priority date and provides Colibri with intellectual property rights extending into 2022 for the significant medical device market concerning transcatheter heart valves.

"The issuance of this patent strengthens Colibri's already strong intellectual property position in this significant transcatheter heart valve market," stated Joseph B. Horn, Colibri's president and chief executive officer. "With the continued long term positive clinical performance demonstrated by the Colibri off-the-shelf, ready-for-use, aortic heart valve pre-mounted on a delivery system and the strengthening of the Company's intellectual property portfolio we are committed to advancing our clinical and regulatory strategy towards approval."

Colibri Heart Valve has also expanded its management team with the hiring of William (Bill) Jackson, a seasoned regulatory and quality professional as the vice president of regulatory, clinical, and compliance. "Bill is a highly experienced regulatory, quality, clinical and compliance executive with Class II and Class III medical device experience and we are pleased to have him part of the Colibri team," says Joseph B. Horn. "With the advancement of the Colibri technology, including successful pre-clinical testing of a second generation pre-packaged, ready-for-use tissue, we look forward to Bill's contributions on advancing this technology toward market approval. Our second generation tissue has been developed to provide material characteristics not currently available in the extensive tissue markets. Colibri plans to explore all opportunities for this next generation pre-packaged, ready-for-use, tissue to serve a variety of medical markets with this technology to improve patient outcomes."

For more information on the Colibri TAVI System's differentiated design features and clinical update on first-in-human feasibility study of the first ready-to-use transcatheter heart valve system please visit the Colibri Heart Valve website at www.colibrihv.com.

About the Colibri Heart Valve and the Ready-to-Use Colibri TAVI System

Colibri Heart Valve, LLC is a privately held medical device company based in Broomfield, CO that researches and develops novel heart valve technologies. Colibri has developed a pre-mounted, pre-crimped, and pre-packaged, ready-for-use transcatheter aortic valve implantation (TAVI) device called the "Colibri TAVI System." The TAVI procedure is an important treatment option for heart valve replacement due to its minimally invasive nature, clinical efficacy, extensive patient experience, and reduced procedural costs. Colibri's advanced technology is a culmination of over 15 years of research and development by Colibri's founders, Dr. David Paniagua and Dr. R. David Fish into transcatheter valve technology. Colibri's unique tissue processing method produces extremely strong, durable, and biocompatible tissue. The proprietary tissue enables loading, crimping, and packaging of the Colibri valve at manufacture, making in-procedure valve rinsing and loading at time of use unnecessary. The "Colibri TAVI System" is designed to be shipped ready-for-use and will be available in multiple sizes.

Colibri's corporate headquarters and pre-commercialization facilities are located in Broomfield, Colorado with R&D located in Houston, Texas. For more information, visit: www.colibrihv.com.

CONTACT: Eric Schauble, VP, Corporate Development Colibri Heart Valve, LLC Telephone: (303) 460-8667 eschauble@colibrihv.com Aline Schimmel Scienta Communications Telephone: (312) 238-8957 aschimmel@scientapr.com

Source:Colibri Heart Valve, LLC