ELMSFORD, N.Y., Sept. 29, 2020 /PRNewswire/ -- NanoVibronix,
Inc., (NASDAQ: NAOV), a medical device company that produces
the UroShield®, PainShield® and WoundShield® Surface Acoustic Wave
(SAW) Portable Ultrasonic Therapeutic Devices, announces its
recent filing of a United States
patent application entitled "A Transdermal Patch of a Portable
Ultrasound-Generating System for Improved Delivery of Therapeutic
Agents and Associated Methods of Treatment."
According to the application, the transdermal patches are
strategically infused with one or more cannabidiol (CBD) or other
pharmaceutical composition(s) and incorporate the company's
proprietary low-profile transducer to concomitantly deliver
ultrasound energy generated by the PainShield® device. The
application also covers methods of topically delivering
cannabinoids, specifically CBD, for treatment or alleviation of
chronic and acute pain.
Brian Murphy, CEO of
NanoVibronix, stated, "The application expands on the therapeutic
benefits of our existing SAW-based PainShield® technology to
provide for predefined and controlled drug delivery from these
patches and enhanced transdermal absorption. Depending on the
specific drug composition formulated into these patches, we believe
a combination of a topical drug and our Surface Acoustic Wave could
offer additional and specifically tailored benefits for patients,
particularly in terms of pain relief and anti-inflammatory
properties. Our current focus is on the therapeutic and analgesic
properties afforded by cannabinoids, and specifically CBD, as an
alternative to opioids for treatment of pain."
Mr. Murphy added, "Our patent counsel, Finch Paolino, LLC, has
been instrumental in aligning NanoVibronix with our entire patent
process, not only in terms of ongoing innovation and in
transactional matters, but also in terms of longevity and strategic
life cycle management. Our expectation is for our portfolio to grow
while we exploit the benefits of our platform technology."
About NanoVibronix, Inc.
NanoVibronix, Inc. (NASDAQ:
NAOV) is a medical device company headquartered in Elmsford, New York, with research and
development in Nesher, Israel,
focused on developing medical devices utilizing its patented low
intensity surface acoustic wave (SAW) technology. The proprietary
technology allows for the creation of low-frequency ultrasound
waves that can be utilized for a variety of medical applications,
including for disruption of biofilms and bacterial colonization, as
well as for pain relief. The devices can be administered at home
without the assistance of medical professionals. The Company's
primary products include PainShield®, UroShield® and WoundShield®,
all of which are portable devices suitable for administration at
home without assistance of medical professionals. Additional
information about NanoVibronix is available at:
www.nanovibronix.com.
Forward-looking Statements
This press release contains
"forward-looking statements." Such statements may be preceded by
the words "intends," "may," "will," "plans," "expects,"
"anticipates," "projects," "predicts," "estimates," "aims,"
"believes," "hopes," "potential" or similar words. Forward-looking
statements are not guarantees of future performance, are based on
certain assumptions and are subject to various known and unknown
risks and uncertainties, many of which are beyond the Company's
control, and cannot be predicted or quantified, and include, among
others, statements regarding the completion of the public offering,
the satisfaction of customary closing conditions related to the
public offering and the intended use of net proceeds from the
public offering; consequently, actual results may differ materially
from those expressed or implied by such forward-looking statements.
Such risks and uncertainties include, without limitation, risks and
uncertainties associated with: (i) the geographic, social and
economic impact of COVID-19 on the Company's ability to conduct its
business and raise capital in the future when needed, (ii) market
acceptance of our existing and new products or lengthy product
delays in key markets; (iii) negative or unreliable clinical trial
results; (iv) inability to secure regulatory approvals for the sale
of our products; (v) intense competition in the medical device
industry from much larger, multinational companies,; (vi) product
liability claims; (vii) product malfunctions; (viii) our limited
manufacturing capabilities and reliance on subcontractor
assistance; (ix) insufficient or inadequate reimbursements by
governmental and/or other third party payers for our products; (x)
our ability to successfully obtain and maintain intellectual
property protection covering our products; (xi) legislative or
regulatory reform impacting the healthcare system in the U.S. or in
foreign jurisdictions; (xii) our reliance on single suppliers for
certain product components, (xiii) the need to raise additional
capital to meet our future business requirements and obligations,
given the fact that such capital may not be available, or may be
costly, dilutive or difficult to obtain; (xiv) our conducting
business in foreign jurisdictions exposing us to additional
challenges, such as, e.g., foreign currency exchange rate
fluctuations, logistical and communications challenges, the burden
and cost of compliance with foreign laws, and political and/or
economic instabilities in specific jurisdictions; and (xv) market
and other conditions. More detailed information about the Company
and the risk factors that may affect the realization of forward
looking statements is set forth in the Company's filings with the
Securities and Exchange Commission (SEC), including the Company's
Annual Report on Form 10-K and its Quarterly Reports on Form 10-Q.
Investors and security holders are urged to read these documents
free of charge on the SEC's web site at: http://www.sec.gov. The
Company assumes no obligation to publicly update or revise its
forward-looking statements as a result of new information, future
events, or otherwise, except as required by law.
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SOURCE NanoVibronix, Inc.