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Guidant and EMBOL-X Announce International Distribution Agreement for Neuroprotection Products

DATE:
November 16, 1998

GDT CONTACTS:
Todd McKinney, Investor Relations, 317-971-2094

Rob Allen, Media Relations, 317-971-2031

EMBOL-X CONTACT:
Kathleen A. Marshall, Vice President of Marketing, 650-390-0280

Indianapolis and Mountain View, CA—November 16, 1998—Guidant Corporation (NYSE and PCX: GDT), a world leader in the treatment of cardiovascular disease, and EMBOL-X Inc., a pioneer in developing technology to prevent stroke and neurologic damage, today announced that they have entered into an international distribution agreement for the EMBOL-X^TM Arterial Cannula and Filter System, as well as future cardiac surgery products under development.

Under the terms of this agreement, Guidant has made an equity investment in and extended a line of credit to EMBOL-X in exchange for an option to distribute all EMBOL-X cardiac surgery products in Europe and Canada. Guidant will begin distribution of the EMBOL-X^TM Arterial Cannula and Filter System to cardiac surgeons in 1999.

The EMBOL-X^TM Arterial Cannula and Filter System is a novel filtration device, designed to capture emboli liberated during manipulation of the aorta and the heart in cardiac surgery. Recent studies have confirmed that the single most important risk factor for stroke in cardiac surgery is the presence of advanced atheromatous disease in the aorta. Neurologic complications, including stroke, coma, seizures, memory deficit and intellectual deterioration, are found in 6% to 33% of cardiac surgery patients. The EMBOL-X device is temporarily deployed into the aorta and captures aortic plaque that may otherwise be released to the cerebral and systemic circulation.

“We are very pleased to add the EMBOL-X device to our international product line,” stated Jim Fitzsimmons, General Manager of Guidant’s Cardiac & Vascular Surgery Group. “We believe that neuroprotection during cardiac surgery offers significant clinical benefit to these patients. In addition, this unique filtration device provides an excellent fit with our existing technologies in minimally invasive cardiac surgery and with our strategic focus on the cardiac surgeon.”

“We believe that our alliance with Guidant will expedite the delivery of our emboli management technology to cardiac surgeons in Europe and Canada,” said Yue-Teh Jang, Ph.D., President and CEO of EMBOL-X Inc. “Our early clinical results have demonstrated the importance of emboli management technology in addressing the serious and costly problem of neurologic complications in cardiac surgery. Nearly one million cardiopulmonary bypass procedures are performed worldwide, about half outside the United States. We are very happy to be working with Guidant as we approach the European and Canadian market release of our devices in 1999.”

EMBOL-X Inc., a venture-backed company located in Mountain View, California, is focused on the development of proprietary medical devices to manage emboli and prevent stroke, neurologic damage, and other complications caused by embolic debris. The company has developed new methods of capturing embolic material during cardiac surgery and is backed by several leading venture capital firms with significant experience in the medical device field, including U.S. Venture Partners, Venrock Associates, The Vertical Group, and Morgenthaler Ventures.

A global leader in the medical device industry, Guidant provides innovative, minimally invasive and cost-effective products and services for the treatment of cardiovascular and vascular disease. For more information about Guidant’s products and services, visit the company’s Web site at http://www.guidant.com.

GUIDANT CORPORATION • P.O. BOX 44906 INDIANAPOLIS, IN 46244 • TEL: 317 971 2000 • FAX: 317 971 2040