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NUO Therapeutics Inc (AURX) is a biotechnology innovator developing advanced therapies in regenerative medicine and wound care. This dedicated news hub provides investors and healthcare professionals with essential updates on the company's clinical advancements, regulatory milestones, and strategic initiatives.
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Nuo Therapeutics (OTCQB: AURX) has entered a multi-year exclusive agreement with PAM Health to provide its Aurix System as the sole platelet-rich plasma (PRP) wound care therapy across PAM Health's network. The partnership spans all PAM Health's facilities including long-term acute care hospitals, rehabilitation centers, and wound care clinics across 23 states.
The Aurix System, the first FDA-cleared autologous PRP therapy for chronic wounds, utilizes a one-minute spin process to create a biologically active gel from the patient's platelets and plasma. Clinical studies, including collaborations with Medicare & Medicaid Services, have shown superior healing rates compared to other advanced wound modalities.
This partnership addresses a significant healthcare challenge, as chronic wounds affect 2% of the US population and over 8 million Medicare beneficiaries, with annual Medicare spending ranging from $28.1 to $96.8 billion. The condition leads to over 100,000 diabetic amputations annually, with a five-year post-amputation mortality rate of nearly 62%.
Nuo Therapeutics, Inc. (OTCQB: AURX) has announced a strategic equity agreement with Pacific Medical, Inc., which includes an initial $500,000 purchase of common stock. This partnership aims to enhance the distribution and sales of the Aurix product, a biodynamic therapy for chronic wounds. With approximately $4.5 million raised this year, Nuo is positioned to further its commercial goals. The North American advanced wound care market is projected to reach $3.6 billion in 2022, driven by an increasing prevalence of chronic wounds. Nuo is also exploring potential uplisting to a national exchange.
Nuo Therapeutics announced awareness of an unsolicited mini-tender offer from Alternative Liquidity Index, LP to purchase 1,820,000 shares, roughly 4.9% of its outstanding shares, at $0.01 each. The company emphasizes it is not associated with this offer and warns investors about the risks of mini-tender offers, which lack comprehensive SEC disclosure protections. The offered price is significantly lower than the recent warrant exercise price of $0.20 per share. Nuo intends to file overdue financial reports to regain compliance with SEC obligations.
Nuo Therapeutics, Inc. (OTC Pink: AURX) announced on April 20, 2021, the publication of a final decision memo from the Centers for Medicare & Medicaid Services (CMS) regarding coverage for autologous platelet-rich plasma (PRP) therapy for chronic non-healing diabetic foot ulcers (DFUs). Medicare will cover PRP treatments for up to 20 weeks, with specific FDA clearance requirements for devices. CEO David Jorden highlighted the significance of this decision and the company's efforts to improve clinical data since its previous non-coverage ruling in 2008. The company aims to ensure Aurix is accessible to patients.
Nuo Therapeutics, Inc. (OTC Pink: AURX) announced the closing of a recapitalization and exchange agreement that simplifies its capital structure. The agreement involved an exchange of Series A Preferred Stock for 2.7 million common shares and conversion of approximately $330,000 of secured notes into 838,487 shares. The transaction leaves the company with no debt and around 29.2 million shares outstanding. The CEO noted potential improvements pending a decision from CMS regarding national coverage for the Aurix product, crucial for the company's future viability.
