Osprey Medical (ASX:OSP) based in Minnetonka, MN continues to make strong progress toward their mission of making coronary angiography (heart x-ray imaging) safer for patients with poor kidney function. They are rapidly growing US sales with a direct sales force; in Q2 2017 sales were up 240% over the prior corresponding period.
Their DyeVert Plus System reduces the amount of contrast media (dye) used in a normal angiogram procedure by approximately 40%. For patients with pre-existing chronic kidney disease (CKD) the contrast media used in these procedures presents an increased risk of contrast induced acute kidney injury (CI-AKI) which is associated with irreversible kidney impairment, longer hospitalization, increased healthcare expenses, increased risk of long-term dialysis or death. Reduced contrast is aligned with medical guideline that call for the reduction of contrast in CKD patients to reduce the risk of developing CI-AKI.
Osprey recently closed on an oversubscribed capital raise of A$32.5M (US $26M). Please see the link to their Business Wire Press announcement for further information: Osprey Medical announces successful over-subscribed placement and fully underwritten entitlement offer
Source: Osprey Medical
