Item 2. Properties
ITEM
2.
Properties and Facilities
We
lease a 14,507 square foot manufacturing facility in Irvine, California under a lease that expires on September 30, 2027. Our facility is designed expressly
for the manufacture of biologic vascular grafts and is equipped for research and development, prototype fabrication, cGMP
manufacturing and shipping for Class III medical devices, including biologic cardiovascular devices. We believe that our facilities
are sufficient for the near future as there is present capacity to manufacture up to approximately 24,000 venous valves per year to
meet potential market demands.
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