Stent developer ITGI Medical Ltd. (TASE:ITGI) has signed a distribution agreement in Germany for its AneuGraft stents.
Under the terms of the three-yeardeal, German distributor Avidal Vascular GmbH is committed to buying at least 1,000 stents per year beginning in the first year, and will commit to raising the quantity of ordered in future years. With the signing of the deal, ITGI received an order from the German firm for stents worth NIS 200,000.
Or Akiva-based ITGI develops heterologous tissue covered stents for cardiovascular and neurovascular use. The AneuGraft stent is designed for use in coronary SVG, aneurysm and perforations and sets a barrier between the blood vessel wall and its lumen.
As part of the agreement, Avidal Vascular will be ITGI's exclusive distributor of cardiology stents in Germany. Avida Vascular is a leading distributor in the cardiology intervention sector in Germany and one of the few companies with coverage throughout the country.
ITGI's stents received European CE mark approval last week.
The company's share price was up 1.2% to NIS 0.67 in early afternoon trading on the TASE today.
Published by Globes, Israel business news - www.globes-online.com - on September 20, 2010
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