Envoy Medical Announces Three Additional Patents for Implantable Cochlear Systems
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Insights
The acquisition of three additional patents by Envoy Medical represents a strategic enhancement of the company's competitive edge in the hearing health sector. The patents pertain to advanced functionalities in cochlear implant systems, such as integrated signal analysis and electrode impedance diagnostics. These developments could potentially offer improved outcomes for patients with significant hearing loss, by enhancing the performance and reliability of cochlear implants.
From a research perspective, the patents suggest that Envoy Medical is prioritizing technological innovation to address specific challenges in cochlear implantation. The integration of signal analysis could lead to more personalized and effective sound processing, while electrode impedance diagnostics may allow for better monitoring and maintenance of the implant system. Such innovations could translate to a higher quality of life for patients and may result in increased market share for Envoy Medical.
Envoy Medical's announcement of new patents is a signal to investors and competitors alike that the company is actively working to differentiate its product offerings. In the highly competitive medical device industry, intellectual property is a critical asset that can create barriers to entry for competitors and drive market expansion. The mention of upcoming milestones and the next phase of clinical investigation suggests that the company is progressing towards commercialization, which could have a positive impact on its stock valuation if the market perceives these patents as adding substantial value to the company's portfolio.
Furthermore, the focus on a fully implanted cochlear implant system may address a gap in the market for less obtrusive, more advanced hearing solutions. If Envoy Medical's technology proves to be superior to existing options, it could disrupt the current market dynamics and lead to a reevaluation of the company's growth potential and market position.
The strategic importance of Envoy Medical's new patents can be quantified by examining the potential revenue streams they may unlock. Patents can lead to proprietary products that command premium pricing and enhance profit margins. Additionally, these patents may open up licensing opportunities, where other companies pay for the right to use Envoy Medical's technology. The CEO's statement regarding the company's commitment and the anticipation of an 'exciting year' with 'a number of milestones' could be interpreted by the market as a positive forward-looking statement, potentially influencing investor sentiment.
Investors will be interested in the timeline for the clinical investigation and any regulatory hurdles that the new system must overcome. The cost and duration of the clinical trials, as well as the speed of adoption in the market, are critical factors that will affect the return on investment. The success of these patents and the clinical investigation could have a significant impact on the company's long-term revenue and market share.
Expanding Innovation Portfolio to Support Delivering Hearing to Patients in Innovative Ways
WHITE BEAR LAKE, Minnesota, Jan. 22, 2024 (GLOBE NEWSWIRE) -- Envoy Medical®, Inc. (“Envoy Medical”) (NASDAQ: “COCH”), a revolutionary hearing health company focused on fully implanted hearing systems, today announced that it recently has been awarded three additional patents. These patents are further evidence of Envoy Medical’s determination to be an innovation leader in hearing health to benefit patients with significant hearing loss. The patents are as follows:
- The US Patent & Trademark Office issued Envoy Medical Corporation US Pat. No. 11,839,765 on December 12, 2023. The title of the patent is Cochlear Implant System with Integrated Signal Analysis Functionality.
- The US Patent & Trademark Office issued Envoy Medical Corporation US Pat. No. 11,865,339 on January 9, 2024. The title is Cochlear Implant System with Electrode Impedance Diagnostics.
- The European Patent Office granted European Pat. No. 3927420 on January 10, 2024. The title is Implantable Cochlear System with Integrated Components and Lead Characterization.
“Investors, patients, and industry professionals may notice that Envoy Medical continues to steadily grow its intellectual property portfolio as we reaffirm our commitment to the hearing industry and to providing patients with innovative hearing solutions,” said Brent Lucas, Envoy Medical’s Chief Executive Officer. “We expect 2024 to be an exciting year with a number of milestones, including the next phase of the clinical investigation of our fully implanted cochlear implant system. We believe our system’s design will allow us an opportunity to separate ourselves from others and provide patients with a new hearing option.”
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 will be a first-of-its-kind fully implanted 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 system is designed to address severe to profound sensorineural hearing loss that is not adequately addressed by hearing aids.
The Acclaim Cochlear Implant received the Breakthrough Device Designation from the U.S. Food and Drug Administration (FDA) in 2019. We believe the Acclaim system was the first hearing-focused device to receive Breakthrough Device 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, the ability to obtain additional patents and develop future products or product improvements, clinical testing timeline and results, the benefits of the Acclaim device compared to existing cochlear implants, the Acclaim being the first to market fully implanted cochlear implant, the size of Envoy Medical’s addressable market, 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. 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 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.
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Investor Contact:
Matt Kreps
Darrow Associates Investor Relations
(214) 597-8200
mkreps@darrowir.com
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