Creates Pathway to Launch of New Innovative Products
NanoVibronix Inc., (NASDAQ: NAOV), a medical device company that produces the UroShield® and PainShield® Surface Acoustic Wave (SAW) Portable Ultrasonic Therapeutic Devices, today announced it has filed three U.S. patent applications with the U.S. Patent & Trademark Office related to its SAW technology and indwelling medical devices to protect targeted new product launches and improvements to existing medical devices.
Brian Murphy, Chief Executive Officer of NanoVibronix Inc., commented, “Our patented SAW ultrasound technology has proven effective in treating pain, as well as inhibiting infections associated with urological conditions. Beyond just urology and pain management, our expanding patent portfolio is driven by our commitment to continue exploring different applications and developing new products that leverage our unique technology.
“For example,” noted Murphy, “one of our new applications relates to cosmetic applications of our technology to reduce signs of aging and improve skin texture. In line with the growing use of ultrasound in cosmetic dermatology, our SAW-generating devices and facial patches address a host of cosmetic and topical concerns. Importantly, this represents a new and sizeable market opportunity for us.”
“In addition, we believe that we have made material improvements to the assembly and operational configuration of indwelling medical devices incorporating our SAW-generating technology,” added Murphy. “The new patent applications provide for new stand-alone devices, such as a novel catheter, intravenous (IV) needle assembly and percutaneous endoscopic gastrostomy (PEG) tube. More generally, described in the new applications is an ultrasound system that effectively transforms any such indwelling medical device into a therapeutic device. The generation of SAW along the surface of our indwelling medical devices produces nano-vibrations sufficient to inhibit the colonization of bacteria and, as a result, the formation of bacterial biofilms that are commonly known to adhere to surfaces of conventional indwelling devices. Therefore, we believe that a significant improvement of our indwelling devices is the accompanying antimicrobial prophylactic effect for preventing infections associated with conventional indwelling medical devices. Given that infections stemming from indwelling devices account for up to twenty percent of annual healthcare-associated infections in hospitalized patients, coupled with the resulting prolonged hospitalization stays and increased costs per admission, our technology should provide readily recognized and broadly applicable advantages.”
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 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.
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