SANUWAVE Health Announces Exclusive Licensing of NanoVibronix, Inc. Surface Acoustic Wave Ultrasound Technology
April 02 2020 - 11:06AM
via NEWMEDIAWIRE -- SANUWAVE Health, Inc. (OTCQB:
SNWV) and NanoVibronix, Inc. have announced an exclusive
worldwide license agreement for NanoVibronix’s surface acoustic
wave ultrasound technology in the wound care market.
Under this agreement, SANUWAVE has acquired the
exclusive worldwide license and sales rights for NanoVibronix’s
patch-based therapeutic ultrasound technology device, WoundShield®,
that facilitates tissue regeneration and wound healing by using
ultrasound to increase local capillary perfusion and tissue
oxygenation.
SANUWAVE will seek regulatory approval of
WoundShield® in Europe and the United States and NanoVibronix shall
maintain the sole right to manufacture the licensed products.
Commenting on the agreement, Kevin A. Richardson
II, Chairman of the Board and CEO of SANUWAVE, said, "It is one of
those great partnerships where our organization offers strong
commercialization and sales capabilities and a complementary
energy-based wound care treatment system in the dermaPACE® System.
NanoVibronix's expertise in surface acoustic wave ultrasound
technology development is unmatched and we are very happy to have
the responsibility to grow a high-quality product that has key
benefits."
Brian Murphy, Chief executive Officer of
NanoVibronix, added, "By leveraging the strength of SANUWAVE's
commercial organization, we're able to focus on continued
innovation in the surface acoustic wave ultrasound technology area.
Together, I am hopeful that we can offer wound care professionals
another high quality, treatment modality that can be applied to
diabetic foot ulcers in between dermaPACE® System treatments. We
look forward to working with SANUWAVE now and in the future."
About SANUWAVE Health, Inc.
SANUWAVE Health, Inc. (OTCQB: SNWV) is a shockwave
technology company initially focused on the development and
commercialization of patented noninvasive, biological response
activating devices for the repair and regeneration of skin,
musculoskeletal tissue and vascular structures. SANUWAVE’s
portfolio of regenerative medicine products and product candidates
activate biologic signaling and angiogenic responses, producing new
vascularization and microcirculatory improvement, which helps
restore the body’s normal healing processes and regeneration.
SANUWAVE applies its patented PACE® technology in wound healing,
orthopedic/spine, plastic/cosmetic and cardiac conditions. Its lead
product candidate for the global wound care market, dermaPACE®, is
US FDA cleared for the treatment of Diabetic Foot Ulcers. The
device is also CE Marked throughout Europe and has device license
approval for the treatment of the skin and subcutaneous soft tissue
in Canada, South Korea, Australia and New Zealand. SANUWAVE
researches, designs, manufactures, markets and services its
products worldwide, and believes it has demonstrated that its
technology is safe and effective in stimulating healing in chronic
conditions of the foot (plantar fasciitis) and the elbow (lateral
epicondylitis) through its U.S. Class III PMA approved
OssaTron® device, as well as stimulating bone and chronic
tendonitis regeneration in the musculoskeletal environment through
the utilization of its OssaTron, Evotron® and
orthoPACE® devices in Europe, Asia and Asia/Pacific. In
addition, there are license/partnership opportunities for
SANUWAVE’s shockwave technology for non-medical uses, including
energy, water, food and industrial markets.
About NanoVibronix, Inc.
NanoVibronix Inc. (NASDAQ: NAOV) is a medical
device company that is focused on creating medical devices
utilizing its proprietary low intensity acoustic technology.
The company’s patented technology allows for creation of miniature
transducers that transmit low-frequency, low-intensity ultrasound
through flexible materials surfaces. This unique development may be
utilized for a variety of medical applications requiring low cost
therapeutic ultrasound qualities. The company’s patch based
products include the PainShield® and WoundShield® which have gained
CE Mark certification. The PainShield also carries the FDA
clearance. NanoVibronix catheter based product – UroShield® device
is CE mark certified. NanoVibronix Inc. operates out of the US. Its
subsidiary, NanoVibronix Ltd. is located in Israel.
Additional information about NanoVibronix is available
at: www.nanovibronix.com.
Forward-Looking Statements
This press release may contain “forward-looking
statements” within the meaning of the Private Securities Litigation
Reform Act of 1995, such as statements relating to financial
results and plans for future business development activities, and
are thus prospective. Forward-looking statements include all
statements that are not statements of historical fact regarding
intent, belief or current expectations of the Company, its
directors or its officers. Investors are cautioned that any such
forward-looking statements are not guarantees of future performance
and involve risks and uncertainties, many of which are beyond the
Company’s ability to control. Actual results may differ materially
from those projected in the forward-looking statements. Among the
key risks, assumptions and factors that may affect operating
results, performance and financial condition are risks associated
with the regulatory approval and marketing of the Company’s product
candidates and products, unproven pre-clinical and clinical
development activities, regulatory oversight, the Company’s ability
to manage its capital resource issues, competition, and the other
factors discussed in detail in the Company’s periodic filings with
the Securities and Exchange Commission. The Company undertakes no
obligation to update any forward-looking statement.
For additional information about the Company,
visit www.sanuwave.com.
Contact:
Millennium Park Capital LLCChristopher
Wynne312-724-7845cwynne@mparkcm.com
SANUWAVE Health, Inc.Kevin Richardson IICEO and
Chairman of the Board978-922-2447investorrelations@sanuwave.com
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