Mainstay Medical Statement re Mainstay confirms its continued eligibility to the PEA-PME
January 23 2018 - 2:00AM
UK Regulatory
TIDMIRSH
Mainstay Medical International plc ("Mainstay" or the "Company"
listed on Euronext Paris: MSTY.PA and ESM of the Irish Stock
Exchange: MSTY.IE)confirms today its continued eligibility to the
PEA-PME (French equity savings plan for financing SMEs), in
accordance with Decree n°.2014-283 applicable since 4 March 2014
and reflecting the application of Article 70 of 2014 finance law
(n° 2013-1278 dated 29 December 2013) which set up the conditions
of companies' eligibility for the PEA-PME as follows:
- fewer than 5,000 employees, and
- annual revenues of less than EUR1.5 billion, or
- a balance-sheet total of less than EUR2.0 billion.
Mainstay Medical is an Irish medical device company with
operations in Ireland, the United States, Australia, Germany and
the Netherlands. The Company is focused on bringing to market
ReActiv8®, an implantable restorative neurostimulation system to
treat disabling Chronic Low Back Pain ("CLBP").
- End -
About Mainstay
Mainstay is a medical device company focused on bringing to
market an innovative implantable restorative neurostimulation
system, ReActiv8®, for people with disabling Chronic Low Back Pain
(CLBP). The Company is headquartered in Dublin, Ireland. It has
subsidiaries operating in Ireland, the United States, Australia,
Germany and the Netherlands, and its ordinary shares are admitted
to trading on Euronext Paris (MSTY.PA) and the ESM of the Irish
Stock Exchange (MSTY.IE).
About Chronic Low Back Pain
One of the recognized root causes of CLBP is impaired control by
the nervous system of the muscles that dynamically stabilize the
spine in the low back, and an unstable spine can lead to back pain.
ReActiv8 is designed to electrically stimulate the nerves
responsible for contracting these muscles and thereby help to
restore muscle control and improve dynamic spine stability,
allowing the body to recover from CLBP.
People with CLBP usually have a greatly reduced quality of life
and score significantly higher on scales for pain, disability,
depression, anxiety and sleep disorders. Their pain and disability
can persist despite the best available medical treatments, and only
a small percentage of cases result from an identified pathological
condition or anatomical defect that may be correctable with spine
surgery. Their ability to work or be productive is seriously
affected by the condition and the resulting days lost from work,
disability benefits and health resource utilization put a
significant burden on individuals, families, communities, industry
and governments.
Further information can be found at www.mainstay-medical.com
CAUTION - in the United States, ReActiv8 is limited by federal
law to investigational use only.
View source version on businesswire.com:
http://www.businesswire.com/news/home/20180122006350/en/
This information is provided by Business Wire
(END) Dow Jones Newswires
January 23, 2018 02:00 ET (07:00 GMT)
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