FoxHollow Technologies, Inc. (NASDAQ:FOXH)
Industry: Healthcare

Listed 53 Consecutive Market Days. On List as of 12/21/2005 Through 03/10/2006

FoxHollow Technologies, Inc., incorporated in September 1996, designs, develops, manufactures and sells medical devices primarily for the treatment of peripheral artery disease (PAD). PAD results from the accumulation of plaque in arteries, most commonly occurring in the pelvis and legs. The Company's first product, the SilverHawk Plaque Excision System (SilverHawk), is a minimally invasive, disposable catheter system that treats PAD by removing plaque in order to reopen narrowed or blocked arteries. The Company introduced the SilverHawk in the United States for treatment of atherosclerosis in the peripheral vasculature. FoxHollow Technologies markets the SilverHawk through a direct sales force in the United States, primarily to interventional cardiologists, as well as to vascular surgeons and interventional radiologists. In September 2005, the Company has entered into a Collaboration and License Agreement with Merck & Co. Inc. (the Merck Collaboration Agreement), through which the Company agreed with Merck to collaborate on the analysis of atherosclerotic plaque removed from patient arteries and identifying new biomarkers for atherosclerotic disease progression. The SilverHawk is designed not to stretch or damage the artery walls, which can lead to dissection or perforation. In data presented, in October 2005, there were dissections and perforations in less than 5% and 1%, respectively, of these lesions treated post-SilverHawk. The SilverHawk procedure is minimally invasive and typically performed under local anesthesia. Unlike most treatments for PAD that leave plaque behind, the SilverHawk removes plaque. The SilverHawk has removed over 700 milligrams of plaque in a single procedure, with an average of approximately 100 milligrams per procedure. Reintervention rates usually increase over time, and generally two-year rates will be substantially higher than one-year rates. The SilverHawk enables physicians to remove plaque from long, calcified and bifurcated lesions in a variety of locations, including arteries below the knee. The SilverHawk procedure employs techniques similar to those used in angioplasty, which are familiar to the approximately 10,000 interventional cardiologists, vascular surgeons and interventional radiologists in the United States who are generally trained in endovascular techniques. The SilverHawk operates with one switch that controls all device functionality, and has a unique torque shaft designed for a one-to-one correlation between the handle and the tip, providing physicians with precise control of the position of the cutting blade. A single SilverHawk device can be used to treat multiple and long lesions where more than one stent might otherwise be required. Physicians can, and sometimes do, use adjunctive angioplasty and stenting during a SilverHawk procedure. When the SilverHawk procedure is performed without adjunctive procedures, future treatment options remain available in the event that restenosis does occur and reintervention is required. The SilverHawk procedure does not require a foreign body, such as a stent, to be left in the artery. The patient and the physician get immediate feedback by seeing the volume of plaque removed. The removed plaque often is collected and will be used in research to identify markers of atherosclerotic disease. The SilverHawk has two primary components, consisting of a low profile catheter connected to a battery-driven control unit, both of which are disposable. The SilverHawk's catheter consists of a flexible shaft designed to track over a previously positioned guide wire, allowing for a minimally invasive procedure. The Company offers eight different SilverHawk catheters of various diameters and tip lengths to accommodate differing artery sizes and amounts of plaque. At the leading end of the catheter is a motor-driven cutting blade within a platinum tubular housing. The cutting blade rotates at approximately 8,000 revolutions per minute and is made of carbide, which is significantly stronger than stainless steel, enabling it to

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