Sydney, Sep 20, 2005 AEST (ABN Newswire) - Ventracor Limited (ASX: VCR) today announced it had received a cheque from the University of Maryland Medical Centre as payment for a VentrAssist device recently implanted in a patient as part of the US clinical trial of the VentrAssist left ventricular assist system (LVAS).
Ventracor Chief Executive Officer, Colin Sutton PhD said: "We have said to the market previously we expected to achieve our first revenues before the end of the 2005 calendar year and I am happy to say we have met this important milestone".
The price paid to Ventracor is consistent with industry average selling prices.
Ventracor's US-based Chief Operating Officer Peter Crosby noted: "This represents a key turning point in the development of Ventracor -- a company clearly now making the transition from a company focused on building a product to a company focused on building a revenue generating business."
Dr Sutton added: "We have set ourselves some very aggressive milestones and we will continue to maintain the sense of urgency and momentum that currently exists inside the company to strive to achieve our goal of building a viable, profitable global medical device business."
Contact
Andrew Geddes
Manager, Investor Relations
Ventracor Limited
T: + 61 2 9406 3086
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