Cleveland Clinic gives Asthmatx Top 10 award

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Asthmatx Asthmatx Inc., a medical device company that focuses on a catheter-based procedure for the treatment for asthma, said Wednesday its investigational treatment was named one of the Top Ten Medical Innovations for 2007 by the Cleveland Clinic.

Mountain View-based Asthmatx said the list recognizes breakthrough medical technologies that have the potential to have an impact on health care in 2007.

Asthmatx said its bronchial thermoplasty, a minimally-invasive procedure, is a non-drug treatment for asthma that is currently under clinical investigation at more than 30 research centers around the world.

The Top Ten designation was made by Cleveland, Ohio-based Cleveland Clinic physicians and scientists during a Medical Innovation Summit in November.

In October, privately-held Asthmatx said in a filing with the Securities and Exchange Commission that it had set a planned initial public offering at 5 million shares for between $11 and $13 each, but later in the month said it decided not to proceed with the IPO and instead pursue an "alternative strategic option."

source Bizjournals