NANOVIBRONIX EXTENDS LINE-UP OF PAIN MANAGEMENT PRODUCTS
September 14 2021 - 8:30AM
NanoVibronix, Inc.,
(NASDAQ: NAOV), a healthcare
device company that produces the UroShield® and PainShield®
Surface Acoustic Wave (SAW) Portable Ultrasonic Therapeutic
Devices, today announced it is launching a new, transdermal gel
containing Nano-Cannabidiol (CBD) for the treatment of joint pain
and reducing inflammation.
Brian Murphy, CEO of NanoVibronix, stated, “Adding CBD
gel to our portfolio of products should materially expand our
target market to augment our PainShield line of products while
creating an additional stream of revenue for our business.
Increasingly, CBD products have been shown to provide a short-term
solution to pain resolution, coupled with the reparative, long-term
mechanisms of action of PainShield. We are working with a licensed,
experienced CBD manufacturer to try to bring this product to market
by the first quarter 2022 with widespread availability in the U.S.
expected by mid-2022. Including a CBD-based product is a natural
extension of our pain management lineup, providing consumers with a
complementary product for the treatment of pain caused by
inflammation and other common ailments such as arthritis. CBD
will be a natural add-on to our over-the-counter PainShield
product.”
PainShield CBD is a fast-drying gel with functional
ingredients including nano particle-cannabidiol (CBD), with a dry
feel, to not impede our PainShield transducer. CBD used in this new
product will be sourced from High Purity Natural Products, LLC, an
FDA-registered manufacturer of hemp and CBD products with
operations in the U.S. High Purity’s CBD is manufactured in
accordance with cGMP guidelines and encapsulated to increase
bioavailability and deliver more therapeutic value per dose
compared with non-encapsulated CBD.
About High Purity Natural Products, LLC
High Purity Natural Products, LLC was established in
2017 with a primary focus on servicing the burgeoning hemp and CBD
industry. The company was the second hemp license issued in the
state of Massachusetts to grow, extract and manufacture CBD
products. The license remains in good standing. High Purity also
maintains its registration with the U.S. Federal Drug
Administration.
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® and UroShield®, 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; 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 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.
Brett Maas, Managing Principal
Hayden IR, LLC
646-536-7331
brett@haydenir.com
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