Photoelectron Announces Strategic Partnership With Cordis

cordis-corporation has signed an exclusive agreement with , a Company, to co-develop and co- manufacture a disposable miniature x-ray source and associated technology for the delivery of intravascular radiation therapy to prevent restenosis of coronary arteries following angioplasty and stent procedures.

Cordis Corporation is a leader in circulatory disease management.

Additionally, Photoelectron announced that Johnson & Johnson Development Corporation has made a $3.8 million equity investment in Photoelectron’s common stock which is not required to be registered for a period of twelve months.

“We are pleased to have signed these agreements with Cordis Corporation and Johnson & Johnson Development Corporation,” stated Euan Thomson, Ph.D., President and CEO, Photoelectron Corporation.

“This $3.8 million investment is expected to provide us with the necessary resources to quickly complete development and successfully launch this new x-ray delivery system to treat cardiac patients requiring angioplasty and stent procedures.”

Under the terms of the agreement with Cordis, the companies will develop and manufacture an x-ray system based on Photoelectron’s patented technology.

The new system will include an integrated disposable x-ray tube and catheter and a delivery and control device to deliver intravascular radiation therapy.

Both companies will manufacture components for the system, which will be co- labeled.

Cordis will be responsible for the sales and marketing for the new x-ray system.

Photoelectron Corporation is a medical device and technology company specializing in miniature x-ray technology for the medical and industrial markets.

The company has secured both regulatory approval and broad distribution channels for their current products.

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