NanoVibronix Partners with Urology Firm for European Sales Growth
NanoVibronix Forms Strategic Partnership to Enhance UroShield Distribution
NanoVibronix, Inc. (NASDAQ: NAOV), a medical device innovator known for its advanced therapeutic devices, is excited to announce its next significant step in expanding the sales of its UroShield product. The company has entered into an agreement with APOGEPHA Arzneimittel GmbH, a distinguished German pharmaceutical firm focusing on urology products and services.
Details on the Licensing Agreement
The partnership entails a non-binding term sheet that sets the foundation for a license and supply agreement. Under this agreement, APOGEPHA is expected to distribute UroShield across Europe, significantly enhancing the product's reach and accessibility. This collaboration aims to leverage APOGEPHA’s extensive experience and established network in the urology market to facilitate UroShield's growth.
CEO's Positive Outlook
Brian Murphy, the Chief Executive Officer of NanoVibronix, expressed his enthusiasm regarding the partnership, highlighting that partnering with a reputable distributor like APOGEPHA aligns perfectly with the company’s goal to broaden the availability of its innovative medical solutions. “We are thrilled to be taking the next step in adding APOGEPHA as a distributor of UroShield in Europe,” Murphy remarked. His excitement stems from the potential to harness APOGEPHA’s significant marketing and sales capabilities to boost UroShield's presence in Germany.
APOGEPHA's Commitment to Urology
Dr. Dirk Pamperin, Chairman of the Management Board at APOGEPHA, reinforced the company’s commitment to providing exceptional products for patients with urological conditions. Following a thorough market assessment, Dr. Pamperin shared confidence in UroShield's capability to assist patients with long-term catheters while effectively reducing the occurrence of catheter-associated urinary tract infections (CAUTI).
Mechanism of UroShield
UroShield employs cutting-edge ultrasound technology designed to prevent bacterial colonization on urinary catheters. By enhancing antibiotic efficacy, this innovative medical device aims to significantly minimize the risk of CAUTIs. The device also strives to alleviate the discomfort associated with catheter usage, offering patients a more comfortable experience.
About APOGEPHA Arzneimittel GmbH
Founded in 1882 in Dresden, Germany, APOGEPHA has accumulated over 140 years of expertise in the pharmaceutical sector, particularly in urological research and product development. The company, family-owned and operated, stands as a leader in the German urology market with approximately 150 dedicated employees, positioning itself not just as a pharmaceutical supplier but as a trusted partner to healthcare professionals.
About NanoVibronix, Inc.
Headquartered in Tyler, Texas, and with research and development facilities in Nesher, Israel, NanoVibronix, Inc. (NASDAQ: NAOV) is committed to developing innovative medical devices utilizing patented low-intensity surface acoustic wave (SAW) technology. Their products, including UroShield and PainShield®, enable patients to receive treatment in a home setting without ongoing medical supervision, ensuring accessibility and convenience.
Frequently Asked Questions
What is the purpose of UroShield?
UroShield is designed to prevent bacterial growth and infections linked to urinary catheters, enhancing not only the effectiveness of antibiotics but also patient comfort.
Who has NanoVibronix partnered with for UroShield distribution?
NanoVibronix has formed a strategic partnership with APOGEPHA Arzneimittel GmbH to expand the distribution of UroShield in Europe.
How does UroShield work?
UroShield utilizes ultrasound technology to minimize bacterial colonization on indwelling urinary catheters, thus reducing the risk of catheter-associated urinary tract infections.
What is the significance of APOGEPHA in this partnership?
APOGEPHA is a recognized leader in the urology field, bringing a wealth of knowledge and an established marketing network that will help promote UroShield effectively.
Where is NanoVibronix located?
NanoVibronix, Inc. is based in Tyler, Texas, with research and development operations in Nesher, Israel, focused on innovative medical device solutions.
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