Olympus Corporation of the Americas Enters into US and Canada Distribution Agreement with Arc Medical Design Ltd., a Subsidiary of Norgine for ENDOCUFF VISION®
Innovator of Device Designed to improve visualization of the Colon Joins Forces with Leader in Endoscopy
CENTER VALLEY, Pa., (May 6, 2016 9:00 AM) – Olympus Corporation of the Americas today announced a new distribution agreement with Norgine B.V. and its subsidiary Arc Medical Design Ltd. by which Olympus Corporation of the Americas becomes the exclusive distributor of ENDOCUFF VISION® in the U.S. and Canada. The ENDOCUFF VISION® will be showcased at the adjoining Arc and Olympus booths at the Digestive Disease Week (DDW) conference in San Diego, Calif. May 22-26, 2016.
ENDOCUFF VISION® is a 510(k) cleared, second generation, single-use device designed to improve visualization for certain endoscopic procedures such as colonoscopies. Placed on the distal tip of a colonoscope, its unique hinged arms fall flat against the shaft of the scope to reduce slippage during forward advancement. During withdrawal, the arms flare out and stabilize the tip, gently stretching the mucosal surface to allow the physician thorough inspection of the anatomy during the search for polyps.
"We are pleased to strengthen our commercial strategy through this relationship with Arc Medical,” said Christos Monovoukas, VP, Business Development and Strategy at Olympus America Inc. “This agreement represents a significant market opportunity for the Olympus endoscopy business and an important advantage for our customers and their patients."
Colonoscopy has long been considered the gold standard for detecting colon cancer, and Olympus is the leading provider of colonoscope technology to caregivers. Even the gold standard has room for improvement, however, in terms of interval cancers that arise because of adenomas (pre-cancerous polyps) that are missed by the physician and can become malignant (colorectal cancer). For each 1% increase in adenoma detection rate (ADR) there is a 3% reduction in the risk of interval cancer. Colorectal cancer (CRC) is the second most common cause of cancer-related mortality.
Tas Javed, Managing Director at Arc Medical said: “This new distribution agreement will ensure the successful international exposure of the ENDOCUFF VISION® in the U.S. and Canada. ENDOCUFF VISION®, designed with input from physicians, improves tip control and visualisation during colonoscopy.”
Currently ENDOCUFF VISION® is sold in Europe and Australia and New Zealand through Norgine’s infrastructure.
Todd Usen, President of Olympus Medical Systems Group at Olympus Corporation of the Americas, added: “This agreement represents a combination of the best optical technology with the best new mechanical advantage to improve the physician’s view of the anatomy that we know of. When a company leads in the field of medical technology as Olympus does for endoscopy, it is incumbent on that company to continue to raise the bar higher. It’s this sense of responsibility that has us so excited about the potential offered by the ENDOCUFF VISION®.”
For U.S. product enquiries, please contact Olympus customer service at 1-800-848-9024.
For Canadian product enquiries, please contact Olympus customer service at 1-800-387-0437.
Financial terms were not disclosed.
Olympus announced today a new distribution agreement with Norgine B.V. and its subsidiary Arc Medical Design Ltd. by which Olympus becomes the exclusive distributor of ENDOCUFF VISION® in the U.S. and Canada. ENDOCUFF VISION® is a 510(k) cleared, second generation, single-use device designed to improve visualization for certain endoscopic procedures such as colonoscopies.
*ENDOCUFF VISION is Licensed by Health Canada
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About Olympus Medical Systems Group
Olympus is a global medical device and optical technology leader focused on enhancing people's lives every day through innovative solutions in its core business areas of Medical and Surgical Products, Scientific Solutions, and Cameras and Audio Recorders. From its introduction of the first gastro-camera in 1950 to the world’s first 5-Axis image stabilization system in mirrorless cameras, Olympus has revolutionized major advancements that are transforming the future, today.
Olympus Corporation of the Americas – a wholly owned subsidiary of Olympus Corporation (OCPNY) in Tokyo, Japan – is headquartered in Center Valley, Pennsylvania and employs more than 5,000 people across North and South America. For more information, visit Olympus at www.olympusamerica.com and www.olympus-global.com.
Norgine is a European specialist pharmaceutical company that has been established for over 100 years. In 2015, Norgine’s total revenue was EUR 320 million and the company employs over 1,000 people.
Norgine provides expertise and ‘know how’ in Europe to develop, manufacture and market products that offer real value to healthcare professionals, payers and patients. Norgine’s approach and infrastructure is integrated and focused upon ensuring that Norgine wins partnership opportunities for growth.
Norgine is headquartered in the Netherlands and its global operations are based in Amsterdam and in Harefield, UK. Norgine owns a R&D site in Hengoed, Wales and two manufacturing sites, one in Hengoed, Wales and one in Dreux, France.
For more information, please visit www.norgine.com
In 2012, Norgine established a complementary business Norgine Ventures, supporting innovative healthcare companies through the provision of debt-like financing in Europe and the US. For more information, please visit www.norgineventures.com.
NORGINE and the sail logo are trademarks of the Norgine group of companies.
About Arc Medical Design Ltd.
Providing award-winning and innovative products worldwide, Arc Medical is leading the way in increasing Adenoma Detection Rates (ADR) and improving retrieval methods.
As a clinician driven company, Arc Medical is uniquely positioned to understand the needs of those working in the gastro-intestinal sector and strives to improve physician experience and patient outcome.
ENDOCUFF and ENDOCUFF VISION are registered trademarks of Arc Medical Design Ltd.
Norgine Media Contacts:
Isabelle Jouin, T: +44 (0)1895 453643
Charlotte Andrews, T: +44 (0)1895 453607
Follow us @norgine
Arc Medical Design Ltd Contact:
Tas Javed: T: +44 (0)113 242 0131
i Douglas Corley paper (314, 872)
ii Ferlay J, Steliarova-Foucher E, Lortet-Tieulent J et al. Cancer incidence and mortality patterns in Europe: Estimates for 40 countries in 2012. Eur J Cancer 2013;49:1374-1403