SUWANEE, GA, April 02, 2020 (GLOBE NEWSWIRE) -- 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.
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.
Millennium Park Capital LLC
SANUWAVE Health, Inc.
Kevin Richardson II
CEO and Chairman of the Board