Nuvectra Receives Frost & Sullivan’s New Product Innovation Award for Its Algovita® SCS System
January 17 2017 - 9:31AM
Nuvectra Corporation (NASDAQ:NVTR), a neurostimulation medical
device company, has recently been named recipient of the Frost
& Sullivan North American New Product Innovation Award for its
leadership in the spinal cord stimulation (SCS) market.
Frost & Sullivan recognizes Nuvectra for the
organization’s commitment to advancing next-generation
neurostimulation technologies through its Algovita® Spinal Cord
Stimulation System. Each year, Frost & Sullivan presents this
award to one company that develops a truly innovative and
leading-edge technology. The award recognizes the innovative
features and benefits of the product and the value it creates in
the marketplace.
Describing how Nuvectra was selected, Frost & Sullivan
analyst Norma Vela-Roch writes, “Algovita features patient-centric
innovation that is easy-to-use, discrete, and portable. In
addition, it provides a versatile and expandable platform that
helps sustain therapy for the long-term benefit of patients.”
“We are very proud to be the recipient of this prestigious
award,” said Scott Drees, Nuvectra’s chief executive officer. “It
is a testimonial to the physician partners and the Nuvectra
employees who focused so much energy into the creation of the
system. The award, combined with the overall response from our
patients and physicians, provides independent validation of the
achievement of the design goals we set for ourselves.”
SCS is playing an even greater role in the management of chronic
pain as serious concerns about opioid use increase. Nuvectra’s
Algovita SCS system is a powerful, versatile, and easy-to-use
system designed to provide broad and flexible pain control, while
fitting into a patient’s daily life.
Nuvectra is showcasing Algovita at the upcoming 2017 North
American Neuromodulation Society Annual Meeting in Las Vegas,
January 19 to 22.
For more information about Nuvectra and the Algovita Spinal Cord
Stimulation System, visit www.nuvectramed.com.
About Nuvectra CorporationNuvectraTM is a
neurostimulation company committed to helping physicians improve
the lives of people with chronic neurological conditions. The
Algovita(R) Spinal Cord Stimulation (SCS) System is our first
commercial offering and is CE marked and FDA approved for the
treatment of chronic intractable pain of the trunk and/or limbs.
Our innovative technology platform also has capabilities under
development to support other neurological indications such as
sacral nerve stimulation (SNS), and deep brain stimulation (DBS).
In addition, our NeuroNexus subsidiary designs, manufactures and
markets leading-edge neural-interface technologies for the
neuroscience clinical research market. Visit the Nuvectra website
at www.nuvectramed.com.
Cautionary Note Regarding Forward-Looking
StatementsThis press release contains "forward-looking
statements," including statements we make regarding the outlook for
Nuvectra as an independent publicly-traded company. Forward-looking
statements are based only on our current beliefs, expectations and
assumptions regarding the future of our business, future plans and
strategies, projections, anticipated events and trends, the economy
and other future conditions, and therefore they are subject to
inherent uncertainties, risks and changes in circumstances that are
difficult to predict and may be outside of our control. Our actual
performance may differ materially from those indicated in the
forward-looking statements. Therefore, you should not rely on any
of these forward-looking statements. Any forward-looking statement
made by us is based only on information currently available to us
and speaks only as of the date on which it is made. Important
factors that could cause our actual results to differ materially
from those indicated in the forward-looking statements include: (i)
the timing of the commercial launch of Algovita in the United
States; (ii) our ability to successfully commercialize Algovita and
develop and commercialize enhancements to Algovita; (iii) the
outcome of our development plans for our neurostimulation
technology platform, including our ability to identify additional
indications or conditions for which we may develop neurostimulation
medical devices or therapies and seek regulatory approval thereof;
(iv) our ability to identify business development and growth
opportunities and to successfully execute on our strategy,
including our ability to seek and develop strategic partnerships
with third parties to, among other things, fund clinical and
development costs for new product offerings; (v) the performance by
our development partners, including Aleva Neurotherapeutics, S.A.,
of their obligations under their agreements with us; (vi) the scope
of protection for our intellectual property rights covering
Algovita and other products using our neurostimulation technology
platform, along with any product enhancements; (vii) our ability to
successfully build an effective commercial infrastructure and sales
force in the United States; (viii) our compliance with all
regulatory and legal requirements regarding implantable medical
devices and interactions with healthcare professionals; and (ix)
any product recalls or the receipt of any warning letters from any
governmental or regulatory agency. Please see the sections
entitled "Cautionary Statement Concerning Forward-Looking
Statements" and "Risk Factors" in Nuvectra's Registration Statement
on Form 10 for a description of these and other risks and
uncertainties. We undertake no obligation to publicly update
any forward-looking statement, whether written or oral, that may be
made from time to time, whether as a result of new information,
future developments or otherwise.
Company Contacts:
Nuvectra Corporation
Walter Berger, Chief Financial Officer
(972) 474-3102
wberger@nuvectramed.com
Jennifer Armstrong, Media Relations
(214) 474-3110
jarmstrong@nuvectramed.com
Investor Contacts:
The Ruth Group
Nick Laudico
(646) 536-7030
nlaudico@theruthgroup.com
Zack Kubow
(646) 536-7020
zkubow@theruthgroup.com
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