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Exhibit 99.9
ABIOMED CONTACTS
John F. Thero
Sr. VP and CFO
Tel.: 978/777-5410
Kristin T. Chouinard
Corporate Communications
Tel.: 978/777-5410
PENN STATE CONTACTS
M. Steven Bortner
Public Relations
Tel.: 717/531-8605
Leilyn Perri
Public Relations
Tel.: 717/531-8604
For Immediate Release
ABIOMED INC. ACQUIRES "PENN STATE HEART"
Danvers, Massachusetts - September 21, 2000 - ABIOMED, Inc. (NASDAQ:
ABMD) announced today that it has entered into agreements to acquire the
exclusive rights to The Pennsylvania State University implantable replacement
heart (the Penn State Heart) as well as the assets of BeneCor Heart Systems,
Inc., a company recently created to commercialize the Penn State Heart.
The terms of these transactions consist of payment by ABIOMED of 55,000
shares of ABIOMED common stock, plus the issuance of warrants for up to 200,000
additional shares of ABIOMED common stock. Exercise of the warrants are
contingent on the achievement of certain clinical and regulatory milestones with
the Penn State Heart by specified dates.
In addition to the acquisition of exclusive rights to intellectual
property and physical assets, the transaction includes arrangements for ABIOMED
to begin a collaborative relationship with The Pennsylvania State University,
its College of Medicine, and The Milton S. Hershey Medical Center. ABIOMED will
also have access to future advances in related implantable replacement heart
technology generated by the research and development team at The Pennsylvania
State University. ABIOMED intends to pursue the commercialization of the Penn
State Heart at its Danvers, Massachusetts facility.
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Like ABIOMED's AbioCor -TM- Heart, the Penn State Heart is an
implantable replacement heart designed to replace a patient's irreversibly
failing heart. Heart disease remains the number one cause of death in the USA,
resulting in over 700,000 annual deaths. These two designs represent the most
successful devices to emerge after more than three decades of research and
development sponsored by the U.S. Federal Government through the National Heart,
Lung and Blood Institutes.
Commenting on the acquisition, Dr. David M. Lederman, ABIOMED's
President and Chief Executive Officer said, "ABIOMED is committed to
commercializing implantable replacement hearts. This important strategic
acquisition provides ABIOMED with the opportunity to work with The Pennsylvania
State University and The Milton S. Hershey Medical Center, two prestigious
institutions with decades of successful experience in the development and
technology transfer of advanced cardiac assist technology."
Dr. Lederman explained, "the AbioCor and Penn State hearts represent
fundamentally different, yet synergistic, approaches to replacing the failing
human heart. With initial clinical trials of the AbioCor within sight, and the
consolidation of the world's two leading replacement heart programs within
ABIOMED, I am confident that we will provide clinicians with broader options to
address diverse patient populations that require heart replacement to live."
Commenting on the acquisition and collaboration with ABIOMED, Dr.
William S. Pierce, Professor Emeritus, Department of Surgery, The Pennsylvania
State University said, "We are thrilled to be working with ABIOMED, a recognized
leader in the replacement heart field. We are looking forward to a close
collaboration between our teams to bring these important technologies to
clinical fruition. I am confident that together with ABIOMED, we will succeed
much faster in achieving cardiac medicine's goal of replacing the failing human
heart."
Based in Danvers, Massachusetts, ABIOMED, Inc. (pronounced
"AB'-EE-O-MED") is a leading developer, manufacturer and marketer of medical
products designed to assist or replace the pumping function of the failing
heart. The Company's AbioCor Implantable Replacement Heart is in an advanced
stage of development in preparation for initial human trials. ABIOMED currently
manufactures and sells the BVS-Registered Trademark-, a temporary heart assist
device, for the support of all patients with failing but potentially recoverable
hearts.
This News Release contains forward-looking statements,
including statements regarding development and clinical introduction of
the AbioCor and the Penn State implantable replacement hearts. The
Company's actual results, including the development and timing of new
products, may differ materially based on a number of factors, including
uncertainties associated with development, testing and related
regulatory approvals, anticipated future losses, complex manufacturing,
high quality requirements, dependence on limited
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sources of supply, competition, technological change, government
regulations, future capital needs and uncertainty of additional
financing and other risks detailed in the Company's filings with the
Securities and Exchange Commission. Investors are cautioned that all
such statements involve risks and uncertainties. Readers are cautioned
not to place undue reliance on these forward-looking statements, which
speak only as of the date of this Release. The Company undertakes no
obligation to publicly release the results of any revisions to these
forward-looking statements that may be made to reflect events or
circumstances after the date hereof or to reflect the occurrence of
unanticipated events.
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