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QT Vascular seeks EU clearance for Silk balloon catheter device

QT Vascular has filed an application in the European Union to receive a CE mark for its balloon catheter device used to open up blocked coronary arteries, the balloon catheter maker said on Tuesday evening.

The Silk PTCA balloon is used to treat percutaneous transluminal coronary angioplasty in arteries. Unlike QT's existing Chocolate technology which uses nickel titanium, the Silk products use high-strength polymer fibres on the outside of the balloon - which QT Vascular says reduces the stress on the blood vessel during inflation and creates a more uniform expansion of the balloon.

Obtaining CE mark clearance will mean that the Silk device conforms with European standards.

The announcement comes as QT Vascular is in the midst of a patent dispute filed by speciality balloon angioplasty company AngrioScore against QT Vascular's subsidiaries and QT Vascular chief executive Eitan Konstantino. That patent dispute is scheduled for trial in the United States in September 2015.

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QT Vascular stock ended the day at 23 Singapore cents on Tuesday before the announcement.