Investors reacted positively to news this morning that medical devices company Clearstream Technologies Group (LON:CTN) had been given the green light to sell its catheters in Japan, triggering a share price rise of 8.7% to 25p. The decision by Japan’s Pharmaceuticals and Medical Devices Agency means ClearStream can sell its advanced percutaneous transluminal angioplasty (PTA) balloon catheters in the country under the brand names SLEEK and Savvy Long PTA Balloon Dilation Catheters.

The SLEEK and Savvy Long peripheral balloons will be marketed by Cordis, the Johnson & Johnson (NYSE:JNJ) subsidiary, which is a worldwide leader in the development and manufacture of interventional vascular technology. The approval is for the full range of the products' balloon sizes and will make the world's longest usable PTA balloons (220mm) available in Japan for the first time. The SLEEK and Savvy Long are expected to be launched in Japan during 2010. This follows a period of significant growth in the US market since their introduction in the first half of 2008.

Andrew Jones, ClearStream’s chief executive, said: “We are delighted to have received Japanese approval. This is major step forward for ClearStream, in our successful distribution agreement with Cordis, further extending the range of territories in which the products are sold, to one of the largest and most highly regulated markets outside of the USA.”

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