ELMSFORD, N.Y., Dec. 18, 2018 (GLOBE NEWSWIRE) — NanoVibronix, Inc, (NASDAQ: NAOV), a medical device company utilizing the Company’s proprietary and patented low intensity surface acoustic wave (SAW) technology, today announced it has signed a new distribution agreement for UroShield® with Stöckli Medical AG (Stockli), a Swiss medical device company headquartered in Oberkirch that distributes specialized clinical devices throughout Switzerland, focusing on innovative products. UroShield® is a small external medical device that has been developed to prevent bacterial colonization and biofilm formation on both urethral and suprapubic catheters by means of the low frequency/low intensity ultrasonic waves that it generates. The action of the ultrasonic waves on the surfaces of the catheter interfere with the attachment of bacteria, prevent urinary tract infection from developing, reduce catheter encrustation and blockages and decrease or eliminate the need for antibiotics.
Brian Murphy, CEO of NanoVibronix, commented, “We are pleased to partner with Stockli to distribute UroShield®. They are a leading distributor of technology platforms and ground-breaking clinical approaches in Switzerland. Stockli will be a valuable asset as they will focus on distributing and educating clinicians on the benefits of UroShield®.”
Maurus Stockli, CEO of Stockli Medical, commented, “NanoVibronix’s UroShield® is an exciting addition to the product portfolio as it is the first ever multi-targeting ultrasound catheter solution we are aware of to remediate catheter related complications and we believe it will be a major success in the Swiss market.”
NanoVibronix Inc. (NASDAQ: NAOV) is a medical device company headquartered in Elmsford, New York with research and development in Nesher, Israel, that is focused on developing medical devices utilizing its proprietary and patented low intensity surface acoustic wave technology. The company’s technology allows for the creation of low-frequency ultrasound waves that can be utilized for a variety of medical applications, including the disruption of biofilms and bacteria colonization, as well as providing 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. Additional information about the company 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 and 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) market acceptance of our existing and new products, (ii) negative clinical trial results or lengthy product delays in key markets, (iii) an inability to secure regulatory approvals for the sale of our products, (iv) intense competition in the medical device industry from much larger, multinational companies, (v) product liability claims, (vi) product malfunctions, (vii) our limited manufacturing capabilities and reliance on subcontractors for assistance, (viii) insufficient or inadequate reimbursement by governmental and other third party payers for our products, (ix) our efforts to successfully obtain and maintain intellectual property protection covering our products, which may not be successful, (x) legislative or regulatory reform of the healthcare system in both the U.S. and foreign jurisdictions, (xi) our reliance on single suppliers for certain product components, (xii) the fact that we will need to raise additional capital to meet our business requirements in the future and that such capital raising may be costly, dilutive or difficult to obtain and (xiii) the fact that we conduct business in multiple foreign jurisdictions, exposing us to foreign currency exchange rate fluctuations, logistical and communications challenges, burdens and costs of compliance with foreign laws and political and economic instability in each jurisdiction. 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.
Source: NanoVibronix, Inc.
Released December 18, 2018