Apyx Medical Corporation Announces FDA 510(k) Submission for the Use of the Renuvion® APR Handpiece for the Coagulation of Subcutaneous Soft Tissues Where Needed, Following Liposuction

Rhea-AI Summary

Apyx Medical Corporation (NASDAQ:APYX) has submitted a 510(k) premarket notification to the U.S. FDA for its Renuvion APR Handpiece, aiming to expand its use for coagulating subcutaneous soft tissues after liposuction. Supported by a clinical study and extensive evidence, the submission indicates that no new risks are associated with Renuvion when used post-liposuction. CEO Charlie Goodwin expressed optimism about receiving the FDA clearance, which may alleviate existing limitations outlined in the Medical Device Safety Communication.

Positive

• Submission of 510(k) for Renuvion APR Handpiece to the FDA
• Support from clinical study and real-world evidence
• No new risks identified for Renuvion post-liposuction
• Positive engagement from the FDA during the submission process

Negative

• None.

CLEARWATER, Fla.--(BUSINESS WIRE)-- Apyx Medical Corporation (NASDAQ:APYX) (the “Company”), the manufacturer of a proprietary helium plasma and radiofrequency technology marketed and sold as Renuvion^®, today announced it has submitted a 510(k) premarket notification (“510(k) submission”) for the Renuvion APR Handpiece to the U.S. Food and Drug Administration (“FDA”), supported by a clinical study and real-world evidence. The 510(k) submission is intended to expand Renuvion’s indications for use to include a specific indication for the use of the Renuvion APR Handpiece for the coagulation of subcutaneous soft tissues where needed, following liposuction.

“We are pleased to announce the submission of this request for 510(k) clearance for a new clinical indication, which is intended to enable Apyx Medical to market and sell our Renuvion APR Handpiece for use following liposuction,” said Charlie Goodwin, President and Chief Executive Officer. “This 510(k) submission leverages the substantial history of safe use of the Renuvion APR handpiece following liposuction procedures, and as such, Apyx Medical was able to assess the device based on a large set of retrospective chart reviews. Importantly, our analysis of Renuvion treatment adverse events, when compared to the real-world evidence gathered for liposuction treatments in the literature review, demonstrated that there are no new or increased risks for Renuvion procedures following liposuction procedures compared to liposuction alone.”

Mr. Goodwin continued: “We appreciate the continued engagement from the FDA in recent months as we prepared this important 510(k) submission, and we continue to believe the receipt of 510(k) clearance for this new clinical indication would directly address the remaining limitations of the Medical Device Safety Communication. We look forward to, and support, the FDA’s continued focus on ensuring that everyone in the industry is adhering to the safe and effective use of cosmetic surgery technologies, especially those used during or after liposuction procedures.”

About Apyx Medical Corporation:

Apyx Medical Corporation is an advanced energy technology company with a passion for elevating people’s lives through innovative products, including its Helium Plasma Technology products marketed and sold as Renuvion® in the cosmetic surgery market and J-Plasma® in the hospital surgical market. Renuvion® and J-Plasma® offer surgeons a unique ability to provide controlled heat to tissue to achieve their desired results. The Company also leverages its deep expertise and decades of experience in unique waveforms through OEM agreements with other medical device manufacturers. For further information about the Company and its products, please refer to the Apyx Medical Corporation website at www.ApyxMedical.com.

Cautionary Statement on Forward-Looking Statements:

Certain matters discussed in this release and oral statements made from time to time by representatives of the Company may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and the Federal securities laws. Although the Company believes that the expectations reflected in such forward-looking statements are based upon reasonable assumptions, it can give no assurance that its expectations will be achieved.

All statements other than statements of historical fact are statements that could be deemed forward-looking statements, including but not limited to, any statements regarding the potential impact of the COVID-19 pandemic and the actions by governments, businesses and individuals in response to the situation; projections of net revenue, margins, expenses, net earnings, net earnings per share, or other financial items; projections or assumptions concerning the possible receipt by the Company of any regulatory approvals from any government agency or instrumentality including but not limited to the U.S. Food and Drug Administration, supply chain disruptions, component shortages, manufacturing disruptions or logistics challenges; or macroeconomic or geopolitical matters and the impact of those matters on the Company’s financial performance.

Forward-looking statements and information are subject to certain risks, trends and uncertainties that could cause actual results to differ materially from those projected. Many of these factors are beyond the Company’s ability to control or predict. Important factors that may cause the Company’s actual results to differ materially and that could impact the Company and the statements contained in this release include but are not limited to risks, uncertainties and assumptions relating to the regulatory environment in which the Company is subject to, including the Company’s ability to gain requisite approvals for its products from the U.S. Food and Drug Administration and other governmental and regulatory bodies, both domestically and internationally; the impact of the recent FDA Safety Communication on our business and operations; factors relating to the effects of the COVID-19 pandemic; sudden or extreme volatility in commodity prices and availability, including supply chain disruptions; changes in general economic, business or demographic conditions or trends; changes in and effects of the geopolitical environment; liabilities and costs which the Company may incur from pending or threatened litigations, claims, disputes or investigations; and other risks that are described in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2021 and the Company’s other filings with the Securities and Exchange Commission. For forward-looking statements in this release, the Company claims the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995. The Company assumes no obligation to update or supplement any forward-looking statements whether as a result of new information, future events or otherwise.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230201005210/en/

Investor Relations:

ICR Westwicke on behalf of Apyx Medical Corporation

Mike Piccinino, CFA

investor.relations@apyxmedical.com

Source: Apyx Medical Corporation

FAQ

What is the 510(k) submission by Apyx Medical for?

Apyx Medical submitted a 510(k) submission to the FDA for its Renuvion APR Handpiece to expand its indications for use following liposuction.

What are the implications of the 510(k) clearance for Apyx Medical?

If cleared, it will allow Apyx Medical to market the Renuvion APR Handpiece specifically for coagulation of subcutaneous soft tissues after liposuction.

What did Apyx Medical's CEO say about the 510(k) submission?

CEO Charlie Goodwin expressed optimism about the submission, citing the absence of new risks and the importance of FDA engagement.

How does the 510(k) submission affect Apyx Medical's market potential?

The clearance could enhance Apyx Medical's market potential by allowing broader usage of Renuvion technologies, particularly in cosmetic procedures.

What evidence supports Apyx Medical's 510(k) submission?

The submission is supported by clinical studies and extensive retrospective chart reviews demonstrating the safety of Renuvion.