Breakthrough Hearing Health Technology Firm, Envoy Medical Begins Trading On NASDAQ
- Envoy Medical targets a lucrative $80 billion cochlear implant market.
- Acclaim cochlear implant granted Breakthrough Device Designation by FDA.
- None.
Envoy Medical to Begin Trading October 2nd on NASDAQ with Ticker COCH
Management to Attend Major Medical Conference
White Bear Lake, Minnesota--(Newsfile Corp. - October 2, 2023) - Envoy Medical® Inc (NASDAQ: COCH) ("Envoy Medical"), a hearing health company, today announced that its common stock is now trading on the NASDAQ under the symbol COCH.
Envoy Medical is a medical technology company focused on fully implanted hearing devices. Envoy Medical's primary device is the fully implanted Acclaim® cochlear implant, which is distinct from the partially-implanted, partially-external devices currently available. Acclaim® was granted Breakthrough Device Designation from the U.S. Food and Drug Administration (FDA) and is currently in clinical trials. Envoy Medical intends to target a significantly under-penetrated cochlear implant market, which it believes to be more than
"We are excited to take this significant step as we continue to advance our mission to bring innovative hearing solutions to underserved markets," said Brent Lucas, Envoy Medical's Chief Executive Officer.
"We believe that Envoy Medical is now the leading hearing health company primarily listed on a US stock exchange. For us, NASDAQ was the obvious choice for trading platform. They are home to some of the most successful technology companies improving the world and is the right fit for Envoy Medical." Envoy Medical's primary competitors, such as Cochlear Limited (ASX) and Sonova (SWX), have their primary listings on foreign exchanges.
Additionally, Envoy Medical management will attend this year's American Academy of Otolaryngology conference September 30th-October 4th in Nashville, TN. This conference hosts many of the best and brightest otolaryngologist-head and neck surgeons from across the globe. Envoy Medical will be discussing the technological progress and the pathway to its pivotal clinical trial planned for 2024.
"Attending the Academy of Otolaryngology conference provides our team the opportunity to discuss our fully implantable cochlear implant design with leaders in the field of hearing health," said Mr. Lucas. "We believe that keeping these medical professionals current with our progress will help speed market acceptance once clinical trials are complete."
Management will also attend and hold investor meetings at the LD Micro Main Event Conference in Los Angeles on October 4, 2023. Investors interested in meeting with management should contact Envoy Medical's Investor Relations team.
About Envoy Medical
Envoy Medical Inc (NASDAQ: COCH), headquartered in White Bear Lake, Minnesota, is a hearing health company focused on providing innovative medical technologies.
Envoy Medical is dedicated to pushing hearing technology beyond the status quo to provide patients with improved access, usability, independence and quality of life.
About the Fully Implanted Acclaim® Cochlear Implant
We believe the fully implanted Acclaim Cochlear Implant is a first-of-its-kind cochlear implant. Envoy Medical's fully implanted technology includes a sensor designed to leverage the natural anatomy of the ear instead of a microphone to capture sound.
The Acclaim is designed to address severe to profound sensorineural hearing loss that is not adequately addressed by hearing aids. The Acclaim is expected to only be indicated for adults who have been deemed adequate candidates by a qualified physician.
The Acclaim Cochlear Implant received the Breakthrough Device Designation from the U.S. Food and Drug Administration (FDA) in 2019. We believe the Acclaim was the first hearing-focused device to receive Breakthrough Device Designation and may still be the only hearing focused medical technology to receive the designation.
CAUTION The fully implanted Acclaim Cochlear Implant is an investigational device. Limited by United States law to investigational use.
Important safety information for the Esteem can be found at: https://www.envoymedical.com/safety-information.
Additional Information and Where to Find It
Copies of the documents filed by Envoy Medical with the SEC may be obtained free of charge at the SEC's website at www.sec.gov.
Forward-Looking Statements
This press release includes "forward-looking statements" within the meaning of the "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-Looking statements may be identified by the use of words such as "estimate," "plan," "project," "forecast," "intend," "will," "expect," "anticipate," "believe," "seek," "target" or other similar expressions that predict or indicate future events or trends or that are not statements of historical matters, but the absence of these words does not mean that a statement is not forward-looking. Such statements may include, but are not limited to, statements regarding the expectations of Envoy Medical concerning the outlook for its business, productivity, plans and goals for future operational improvements and capital investments, clinical testing timeline and results, operational performance, future market conditions or economic performance and developments in the capital and credit markets, as well as any information concerning possible or assumed future operations of Envoy Medical. Forward-Looking statements also include statements regarding the expected benefits of the Nasdaq listing. The forward-looking statements contained in this press release reflect Envoy Medical's current views about future events and are subject to numerous known and unknown risks, uncertainties, assumptions and changes in circumstances that may cause its actual results to differ significantly from those expressed in any forward-looking statement. Envoy Medical does not guarantee that the transactions and events described will happen as described (or that they will happen at all). These forward-looking statements are subject to a number of risks and uncertainties, including, but not limited to Envoy Medical's performance following the Business Combination; changes in the market price of shares of Envoy Medical's Class A Common Stock; Envoy Medical's success in retaining or recruiting, or changes required in, its officers, key employees or directors; unpredictability in the medical device industry, the regulatory process to approve medical devices, and the clinical development process of Envoy Medical products; competition in the medical device industry, and the failure to introduce new products and services in a timely manner or at competitive prices to compete successfully against competitors; disruptions in relationships with Envoy Medical's suppliers, or disruptions in Envoy Medical's own production capabilities for some of the key components and materials of its products; changes in the need for capital and the availability of financing and capital to fund these needs; changes in interest rates or rates of inflation; legal, regulatory and other proceedings could be costly and time-consuming to defend; changes in applicable laws or regulations, or the application thereof on Envoy Medical; a loss of any of Envoy Medical's key intellectual property rights or failure to adequately protect intellectual property rights; the effects of catastrophic events, including war, terrorism and other international conflicts; and other risks and uncertainties set forth in the section entitled "Risk Factors" and "Cautionary Note Regarding Forward-Looking Statements" in the Registration Statement on Form S-4 (File No. 333-271920) filed by Envoy Medical (then known as Anzu Special Acquisition Corp I), and in other reports Envoy Medical files with, the SEC. If any of these risks materialize or Envoy Medical's assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. While forward-looking statements reflect Envoy Medical's good faith beliefs, they are not guarantees of future performance. Envoy Medical disclaims any obligation to publicly update or revise any forward-looking statement to reflect changes in underlying assumptions or factors, new information, data or methods, future events or other changes after the date of this press release, except as required by applicable law. You should not place undue reliance on any forward-looking statements, which are based only on information currently available to Envoy Medical.
###
Investor Contact:
Matt Kreps
Darrow Associates Investor Relations
(214) 597-8200
mkreps@darrowir.com
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/182595
