Laguna Hills, Shanghai & Bochum, Aug 22, 2022 -Wallaby Medical Holding, Inc. (“Wallaby”) is pleased to announce that it has concluded an updated exclusive Japanese distribution agreement with Japan Lifeline Co., Ltd. (“Japan Lifeline”) for the distributorship of 11 neurovascular treatment devices. The agreement is for a period of 10 years, beginning August 2022. The agreement also covers the Avenir® Coil System, which Japan Lifeline launched last year.
Japan Lifeline has been successfully marketing Wallaby’s Avenir® Coil System for neurovascular cases since April 2022. Many of the newly added 10 products are made by phenox GmBH (Germany) (“phenox”), which Wallaby acquired in April 2022. phenox is a leading medical device company with a wide range of novel therapeutic devices in the neurovascular space as well as proprietary coating technologies for the enhancement of its permanent and short-term implants. This agreement expands the scope of the distribution to additional ten products that include Esperance™ Aspiration Catheter, Balloon Guide Catheter, Microcatheter, and Guiding Sheath of Wallaby Medical and p64/p48 range of flow diverters, pRESET range of stent retrievers, pEGASUS Stent Assist Device, pCONUS Stent Assist Device for Bifurcation Aneurysms, pITA Neuro PTA Balloon Catheter, and pRELAX Vasospasm Treatment Device of phenox. With this partnership, Japan Lifeline will establish a top-class comprehensive product portfolio in Japan for the treatment of acute ischemic stroke and cerebral aneurysms, which are the main target diseases for neurovascular treatment today.
Acute ischemic stroke is a disease that occurs when a blood vessel in the brain becomes clogged with a blood clot. In recent years, endovascular treatment using catheters has rapidly become common for the treatment of acute ischemic stroke, with about 16,000 operations performed annually. Japan Lifeline plans to launch four products in this area during the fiscal year ending March 2024, including an aspiration catheter and a stent retriever.
Cerebral aneurysm is a condition in which the walls of a cerebral artery swell to form a balloon-like shape, posing the risk of bleeding (subarachnoid hemorrhage). In addition to the Avenir® Coil System already launched, Japan Lifeline also plans to introduce cutting-edge treatment devices for this disease, such as flow diverters and stents for bifurcation aneurysms.
Japan Lifeline has developed expertise in sales and marketing of various devices that enable minimally invasive catheter-based treatment in the cardiovascular space. Leveraging these experiences and sales capabilities, Japan Lifeline plans to fully enter the Japan neurovascular space with Wallaby’s broad product lineup.
Japan Lifeline estimates the current market size for neurovascular treatment devices in Japan to be about 30 billion yen per year. It expects that the market will continue to grow as treatment using latest devices is still in the gradual expansion phase. By building a product portfolio that comprehensively covers the neurovascular space and coping with the diverse needs of the medical professionals, Japan Lifeline is eager to expand its presence in the important interventional neurovascular space and capture meaningful market share over the long term.
About Wallaby Medical
Wallaby is a global innovative medical technology company focused on developing and commercializing neurovascular interventional products for treating stroke. Wallaby acquired phenox, a German-based global neurovascular innovation and technology leader in April 2022. Wallaby and phenox together have a broad product portfolio covering both ischemic and hemorrhagic stroke as well as access and support. The key product lines include the Avenir® Coil System for treating intracranial aneurysms and other neurovascular abnormalities, the Esperance™ Aspiration Catheter for ischemic stroke treatment procedures, p64/p48 range of flow diverters for the treatment of intracranial aneurysms, and the pRESET range of stent retrievers for the mechanical thrombectomy of ischemic strokes. Additionally, phenox has proprietary coating technologies for the enhancement of its permanent and short-term implants. The products of Wallaby and phenox are marketed in over 50 countries worldwide based on internationally leading clinical data. For more information, visit www.wallabymedical.com and https://phenox.net/international/.