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news.Olympus Medical Systems and Spiration have signed a definitive agreement granting Olympus exclusive marketing and distribution rights in Europe for Spiration's IBV Valve System. Olympus will launch the product in select European countries in late 2008.
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Under the agreement, Olympus and its distributors will have exclusive marketing and distribution rights for Spiration’s IBV Valve System in 43 European countries including the UK and countries belonging to the EU. Spiration will manufacture the product and initially, the device will be marketed under the Spiration name.
The IBV Valve System is a minimally invasive treatment that has diverse applications for both acute and chronic conditions of the lung. In Europe, the system has received market clearance through CE Mark for diseased and damaged lung, a broad indication that includes the treatment of emphysema and the resolution of prolonged air leaks, a complication that can occur following lung surgery.
Haruhito Morishima, president and CEO of Olympus Medical Systems, said: “We look forward to working with Spiration to bring this innovative treatment option to patients and our established physician customer base in Europe.”