News | October 18, 2011

Wall Street Journal Award Recognizes Abbott’s Absorb Stent

October 18, 2011 — Abbott announced the investigational Absorb bioresorbable vascular scaffold (BVS) has been recognized as the winner of the Medical Devices category in the 2011 Wall Street Journal Technology Innovation Awards. Absorb is an implantable device that restores blood flow by opening a blocked artery and providing support to the vessel until the device dissolves. Once in place, the device dissolves in approximately two years, leaving patients with a treated vessel free of a permanent metallic implant.

The first drug eluting device of its kind for coronary artery disease (CAD), Absorb is made of polylactide, a proven biocompatible material commonly used in medical implants. Because a permanent metallic implant is not left behind, naturally occurring vessel functions may be restored

"Absorb represents the best in scientific innovation, as it has the potential to change the way physicians practice medicine and improve outcomes for their patients," said Robert B. Hance, senior vice president, vascular, Abbott. "We are pleased that this innovation, which has been developed in the U.S. over nearly a decade, has the prospect of advancing patient care around the globe. Abbott is honored to receive this prestigious award."

In January 2011, Abbott announced that the device received CE mark in Europe for the treatment of CAD. In the United States, it currently is under development and is not available for sale. The device is being evaluated in more than 40 clinical centers in 20 countries around the world.

In 2010, Abbott was a runner-up in the Medical Devices category of Technology Innovation Awards for its investigational MitraClip system. In 2009, the company’s Ibis T5000 Biosensor system was honored as the category winner in Medicine-Biotech and received the overall Gold Award across all the categories. In 2007, the Humira self-injectable treatment for Crohn's disease was a runner-up in the Medical-Biotech category.

In its 11th year, The Wall Street Journal Technology Innovation Awards assessed applications on three criteria: whether the innovation breaks with conventional ideas or processes in its field; whether it goes beyond marginal improvements of an existing technology; and whether it will have a wide impact in its field or on future technology.

This year, the newspaper received 605 entries from companies, organizations and individuals in 31 countries. The judges chose 35 winners and runners up in 16 categories. The independent panel of judges included individuals from venture-capital firms, universities and other organizations and companies.

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