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Checking earnings today from drug and medical device maker Abbott -- the outlook is positive.
Especially considering that the company just won federal approval to market a new drug coated stent.
Used to prop open arteries have these medical breakthroughs not only turned profit.
Most important thing save lives in our next guest is hoping to do just that.
His company -- -- -- is looking for federal approval for a special procedure.
To treat the often fatal liver cancer joining us this morning is the president and CEO -- -- -- teeny.
And also in Washington DC we have doctor James Hank.
A National Cancer Institute surgical oncologists.
And the principal investigator for -- -- clinical child.
And he -- -- morning gentlemen thanks for joining me oh thank you for writing us.
So thank you doctor.
Explain to me what exactly.
Is this type of treatment particularly which isolates.
The -- explain that to me.
Yes that they call this treatment is to to be able to effectively isolate the -- from the surrounding body so that effective doses of chemotherapy.
Can be delivered in at at -- as much higher than we would expect to deliver.
If we had to give the drug intravenously and with less exposure to bone marrow.
In the gastrointestinal -- so that we.
Well hopefully increasing that -- dose of drug delivered to the tumor making it a more effective.
-- and doctor -- I understand it right now liver cancer is the six most common type of cancer although it is in the third leading cause of cancer related.
Debt is this type of treatment -- isolation that you're talking about very unusual and groundbreaking.
The then techniques we've -- are using have where actually established for extremity tumors.
Possibly fifty years ago -- have been an evolution and -- presidency I have for many years.
But this ability to do it in a minimally invasive way and decrease hospital stays and substantially reduce the morbidity associated with it.
Really makes this applicable to a much larger group of patients and in a much larger number of hospitals throughout the country.
Richard and you're the company that is creating this and this technology and its ability to isolate this tell us how.
Is it that you got involved in this whole cause and becoming.
An executive member of this organization -- All we began.
As the parent of a teenager stricken with cancer and with the cancer -- -- liver we do that her time was limited.
And we were frantically looking around as most people who were unfortunately afflicted -- disease to.
And we came across the eagle -- system which was a very very novel way.
And unique way of delivering these ultra high doses of targeted drug directly to the side of the disease.
We approached the company tried to get my daughter for the trial.
Unfortunately she had the -- the wrong kind of disease for -- for this trial was not addressing that disease at this time.
And unfortunately she passed away I was asked to join the board of company back in 2006.
And took over as CEO in January 2007.
I your stories an amazing story really I was just talking to you briefly in the break -- she passed away in 2004.
You were actually in the money management business on Wall Street.
Learned so much about this became a board member and all of a sudden I hear the president and CEO.
Talk to me about what you have been able to accomplish in the years that you go in there and why don't you think.
This technology or this wave -- change could hopefully.
I turn into a real viable solution to liver cancer.
We have seen as we -- the company and then looked really -- -- at the science the science is very well established the NCR and doctor can peck and his team have performed.
Close to 300 of these procedures and -- over a hundred patients.
I have seen some remarkable results of responses.
The the basis for.
Before this ultra high -- -- drug doping and drug delivery docent.
Allows for this targeting of the disease while -- healthy tissue.
And that is really -- so what we have done a -- -- is taken this space science which is fairly proven now.
And are driving -- business model if you will.
Two get -- centers around the country currently have six centers around the country we should be increasing that number over the course of the year.
And we are looking at a variety of diseases now.
So it's been staged you know when do you think you get government approval we actually were in phase one and based on the results seem to MCI we are fast track directly to phase three.
So we're currently actually over 13 enrolled in our phase three trial this is a pivotal trial that -- -- Certainly hope will lead to approval of this device.
And if -- if approved the cough.
The cost -- about in the vicinity of 20000 dollars for this treatment.
Which parallels very very closely with some of the newer drugs and novel treatments.
But the ability to combine -- -- -- -- dose of the drug with the targeting.
It's really the key to the -- caste system.
Well what a story I wish you the best of luck Richard -- and I have two girls from college -- -- brilliant minds so congratulations on that and doctor James can pack.
Hank I should say thank you so much for joining appreciate.
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