Minrad International Inc. (NYSE:BUF)
Industry: Healthcare
Minrad International, Inc., incorporated in 1996, operates an interventional pain management business. The Company manufactures and markets products in two areas: anesthesia and analgesia, and real-time image guidance. In the anesthesia and analgesia product line, it manufactures and markets generic inhalation anesthetics for use in connection with human and veterinary surgical procedures. The Company in real-time image guidance manufactures real-time image guidance technologies that facilitate minimally invasive surgery. Minrad International, Inc. is also developing a drug/drug delivery system for conscious sedation, which, similar to nitrous oxide used in dental surgery, provides a patient with pain relief without loss of consciousness. In anesthesia and analgesia product line, the Company sells three modern inhalation anesthetics: isoflurane, enflurane and sevoflurane, through distributors and to original equipment manufacturer (OEM) customers. The Company has synthesized and validated unique processes to manufacture sevoflurane. Two key aspects of its production process are the use of a unique phase transfer catalyst and process technology to ensure that the compound is anhydrous and stable. In this regard, Minrad International has filed an Abbreviated New Drug Application (ANDA), which has been accepted for review by the United States Food and Drug Administration (FDA). In September 2005, the Company began marketing sevoflurane to select international markets. Enflurane is principally utilized in labor and delivery, and for coronary by-pass procedures. It is the only inhalation anesthetic approved for use in labor and delivery. The Company sells enflurane through its distribution partners both domestically and internationally and the Company also sells enflurane on an OEM basis. Isoflurane remains the drug of choice for procedures involving companion animals and also is used in neurological and general surgical procedures. Minrad International, Inc. markets isoflurane under the brand name Terrell in the human market and Attane in the veterinary market The Company is developing a drug/drug delivery system for the use of halogenated ethers as inhalation analgesics, which is called conscious sedation. The Company has filed a patent application, Drug Delivery for Conscious Sedation, for a new system to administer conscious sedation. Minrad International, Inc.'s real-time imaging products include SabreSource real-time imaging guidance system and complementary Light Sabre disposable products having applications in orthopedics, neurosurgery, interventional radiology and anesthesia. The Company's SabreSource system uses technology to enable medical professionals to identify both the surface point of entry and the true angle of approach required to precisely target an internal treatment area or biopsy site with 50% to 90% reduction in x-ray on-time. The SabreSource system has application in pain management and anesthesia, interventional radiology, neurosurgery and orthopedic surgery. The Company's range of Light Sabre procedure instruments enables a medical professional to perform a minimally invasive procedure on an exact anatomic site targeted through the use of a fluoroscope. Presently, its Light Sabre product line includes six types of single-use instruments: syringes; aspirating needles; spinal needles; bone and core tissue biopsy needles, and a catheter inducer. Each of these products is manufactured in a variety of styles and sizes to suit different clinical applications and physician preferences. The Company's existing six lines of Light Sabre products focus on interventional pain management and spinal procedures for neurology and orthopedics. The Company filed, and had accepted, an FDA Master File of its Light Sabre technology, which would permit its licensees to incorporate the Light Sabre collimator into the products of other manufacturers following a 30-day notice of utilization to the FDA. The Company competes with Medtronic, Inc., BrainLAB, Inc., Stryker Corporation, Johnson & Johnson, Ab
As Of: 10/07 00:00 ET
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