IPO Profile

Conor MedSystems
1003 Hamilton Court, Menlo Park, California 94025
Tel: 650-614-4100
Web: https://www.conormed.com
Ticker: CONR
Stock Exchange: Nasdaq
Shares Issued: 0.00
Price Offered: $0.00
Amount Raised: $70,000,000.00

Underwriters:
Citigroup Global Markets
CIBC World Markets
SG Cowen
A.G. Edwards & Sons


Company Description:
We develop innovative controlled vascular drug delivery technologies. We have initially focused on the development of drug eluting stents to treat coronary artery disease, a market that industry sources expect to grow to over $6 billion by 2008. Stents are tubular mesh devices consisting of interconnected metal struts that are inserted inside an artery to act as scaffolding, propping open a narrowed blood vessel. Our stents have been specifically designed for vascular drug delivery, in contrast to currently available drug eluting stents, which are conventional bare metal stents coated with a drug and polymer. A polymer is a substance used to adhere a drug to the surface of a stent and to modulate its release. Our stents incorporate hundreds of small holes, each acting as a reservoir into which we can load a drug-polymer composition. Through our proprietary design, we can better control drug release kinetics, or the rate of drug release over time. Our clinical efforts are currently focused on the development and commercialization of our COSTAR stent, which is a cobalt chromium paclitaxel eluting stent, for the treatment of restenosis, or the re-narrowing of the inner channel of the artery following balloon angioplasty. Balloon angioplasty is a procedure in which an interventional cardiologist uses a catheter to maneuver a balloon to the site of a blocked artery, where the balloon is inflated to create a larger channel for blood flow. While we believe that our stent technology can support a wide range of drugs, our initial clinical efforts have focused on the use of paclitaxel, an anti-proliferative drug. To date, we have conducted clinical trials involving approximately 745 patients using our drug eluting stents, including more than 200 patients with our COSTAR stent.