Ovalum Ltd. Announces Sales Launch of CiTop™ Product-Line in Europe

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First sales for revolutionary CTO Crossing System after recent CE clearance Ovalum Ltd., a privately held Israeli medical device company, has announced today the launch of sales of its new CiTop™ Guidewire product-line for angiographic procedures in the peripheral vasculature. The devices are intended to assist in the treatment of chronic complete arterial blockage (CTO). These obstructions are hard to traverse and patients are therefore often referred to bypass surgery or limb amputation.

It is a great joy to see the real fruits after years of hard work. The company and management team are all united at this launch effort and we know we are at the right track seeing week to week an increase in sales. The response from the market is unbelievable

Following the approval for CE Marking from the European Economic Area, Ovalum has initiated sales of the CiTop™ product line in Europe, with orders totaling over 400 devices up to date.

Ovalum is currently in negotiation with distributors all around Europe including Spain, Germany, Greece, Turkey, Switzerland, Netherlands, Ireland, Austria and former USSR countries. Ovalum has signed distribution agreements in Italy (Kardia srl) and Russia (Center of Perinatal Medicine).

Procedures have already been done by: Dr. Jaques Clerissi in Italy, Dr Gouvas Konstantinos in Greece, Dr Yakovlev Sergeyand in Russia and Dr. Alexander Belenky in Israel.

All procedures showed tremendous success and demonstrated the quality and uniqueness of the CiTop™ products in saving limbs from amputation.

Noam Shamay Ovalum`s CEO says: " It is a great joy to see the real fruits after years of hard work. The company and management team are all united at this launch effort and we know we are at the right track seeing week to week an increase in sales. The response from the market is unbelievable".

The CiTop(TM) Guidewire System has a patented micro tip mechanism that with a wave-like motion automatically advances within the occluded material. After crossing the occlusion, the device can be further used as a rail for further interventional devices. The system includes a 0.025" micro-catheter for extra support and an extension wire to exchange catheters. The CiTop™ product line also includes the 0.014" CoBra™ CTO Guidewires and the TraVerse™ Micro-catheter.

About Ovalum

Ovalum Ltd. was founded in March 2005 by Noam Shamay and Eitan Finkelstein. Located in Rabin Science Park Rehovot, Israel, OVALUM Ltd. develops, manufactures and markets breakthrough products for the minimally invasive cardiology and interventional radiology markets designed specifically for the most challenging arterial procedures

Ovalum Ltd. investors: Ziegler Meditech equity Partners LP and Smithfield Fiduciary LLC, represented by Eitan Machover (Director) and Pontifax LP represented by Tomer Kariv (Director).

CiTop™, CoBra™, TraVerse™ are all trademarks of Ovalum Ltd.

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Noam Shamay
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