Houston, TX, May 27, 2020 (GLOBE NEWSWIRE) — via NEWMEDIAWIRE — AngioSoma, Inc. (OTC: SOAN) (“AngioSoma” or the “Company”) is pleased to announce that the Company is focusing on development and commercialization of our coating for metal stents. A stent is an expandable “scaffold-like” device, usually constructed of a metallic material, that is inserted into an artery to expand the inside passage and improve blood flow for prevention of vascular restenosis and treatment of complex vascular and coronary disease. A bifurcated version is used to support a branched vessel.
Our coating is a biodegradable, resorbable and hemocompatible surface substrate coating for metal stents to provide embolic protection in stenting procedures. We believe our coating for stents has increased potential over and above what is on the market now to block restenosis (recurrence of narrowing). It is not cytotoxic, and it fights inflammation, which we believe is the key cause of restenosis such that implanting a stent with our coating may be superior in preventing restenosis.
Biologically active microspheres controllably release the biologically active agent into the vessel wall or organ to inhibit restenosis is embedded in the stent substrate. The biologically active microspheres include encapsulated PGE1 in a water-soluble polyethylene glycol, which over a period of time dissolves and releases the PGE1 into the vessel wall or organ.
We consider the addressable market for stents includes not only carotid artery stenting patients but also individuals undergoing carotid endarterectomy. Assuming full penetration of the intervention caseload, we estimate that the addressable market was approximately $1.0 billion in 2017 (source: Health Research International 2017 Results of Update Report on Global Carotid Stenting Procedures and Markets by Major Geography and Addressable Markets).
Because of limited resources, we have neither applied for CE mark approval in the European Union nor to the United States Food and Drug Administration for clearance to market in the U.S.
We are seeking strategic partners for collaborative research, development, marketing, distribution, or other agreements, which could assist with our development and commercialization efforts of our products, and other potential products that are based on our technology.
AngioSoma President, Alex Blankenship, said, “We are extremely pleased with this very promising technology and look forward to the United States Food and Drug Administration authorizing marketing.”
About AngioSoma, Inc.
AngioSoma is a wellness company dedicated to bringing innovative, effective and high-quality supplement products and medical devices to the medical, wellness and adult-use markets through our marketing subsidiary, SomaCeuticals™.
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Notice Regarding Forward Looking Statements
This news release contains forward-looking information within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, including statements that include the words “believes,” “expects,” “anticipate” or similar expressions. This news release speaks as of the date first set forth above and the company assumes no responsibility to update the information included herein for events occurring after the date hereof.
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