electroCore Announces New Reseller Agreement with Red One Medical Devices, LLC.

Rhea-AI Summary

electroCore (Nasdaq: ECOR) announced a new reseller agreement with Red One Medical Devices, enhancing the availability of its gammaCore therapy within the federal marketplace. This collaboration targets U.S. Department of Veterans Affairs and Department of Defense hospitals, aiming to provide support to military personnel suffering from severe headaches. The partnership is set to streamline procurement processes, facilitating quicker access to gammaCore’s non-invasive vagus nerve stimulation therapy, which is designed for migraine and cluster headache relief.

Positive

• New reseller agreement with Red One Medical Devices enhances federal marketplace access.
• Partnership aims to support military personnel suffering from debilitating headaches.
• Streamlined procurement processes for gammaCore therapy in VA and DoD hospitals.

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• None.

ROCKAWAY, NJ, Aug. 24, 2021 (GLOBE NEWSWIRE) -- electroCore, Inc. (Nasdaq: ECOR), a commercial-stage bioelectronic medicine company, today announced a reseller agreement with Red One Medical Devices, LLC. (Red One). The partnership will further expand availability of electroCore’s gammaCore platform in the federal marketplace.

Red One is a Service-Disabled Veteran-Owned Small Business (SDVOSB) offering medical and pharmaceutical goods and services to the U.S. Department of Veterans Affairs (VA) and Department of Defense (DoD) hospitals, ensuring compliance with contracting regulations, and providing logistical solutions connected directly into government contracting portals such as ECAT, GSA, DAPA, BPA, and DIBBS.

“As a VA and DoD private sector partner for medical innovation, we are excited to partner with electroCore,” said Charles Pollak, President of Red One. “Their gammaCore therapy may help thousands of military personnel, family and veterans suffering from primary headache. Painful and disabling headaches torment more than 20% of former service members, especially those from the post-9/11 combat veteran cohort. We look forward to partnering with electroCore to make the therapy more easily accessible in the federal marketplace.”

“Partnering with Red One will help accelerate adoption of electroCore’s therapy within the government channel,” commented Dan Goldberger, Chief Executive Officer of electroCore. “Our partnership gives electroCore access to a variety of contracting portals enabling easier procurement of gammaCore therapy across veteran and active military channels. We have just begun to scratch the surface of the help we can provide to our veterans, troops, and family members in VA and DoD, and we are honored to partner with an SDVOSB to make gammaCore more widely available to those veterans and active-duty military who can benefit from our therapy.”

About Red One Medical Devices, LLC
Red One is transforming healthcare for America’s military service members and veterans. Red One identifies and delivers advanced medical and pharmaceutical technologies to the federal government. These products meet the unique needs of military surgeons and patients. They are clinically proven to improve treatment outcomes in both the DoD and VA. Red One accelerates the procurement process, oftentimes making products available to the government before they’re offered in the private sector. Their team is on a mission to provide veterans with top quality care.

With over 90 combined years of experience in medical sales and government contracting, Red One provides medical and pharmaceutical companies access to the federal marketplace. Red One is a government certified Service-Disabled Veteran Owned Small Business (SDVOSB) and Disability-Owned Business Enterprise (DOBE). Red One connects leading medical and pharmaceutical manufacturers to US Department of Veterans Affairs (VA) and Department of Defense (DoD) hospitals.

About electroCore, Inc.
electroCore, Inc. is a commercial stage bioelectronic medicine company dedicated to improving patient outcomes through its non-invasive vagus nerve stimulation therapy platform, initially focused on the treatment of multiple conditions in neurology. The company's current indications are the preventive treatment of cluster headache and migraine and the acute treatment of migraine and episodic cluster headache.
For more information, visit www.electrocore.com.

About gammaCoreTM
gammaCoreTM (nVNS) is the first non-invasive, hand-held medical therapy applied at the neck as an adjunctive therapy to treat migraine and cluster headache through the utilization of a mild electrical stimulation to the vagus nerve that passes through the skin. Designed as a portable, easy-to-use technology, gammaCore can be self-administered by patients, as needed, without the potential side effects associated with commonly prescribed drugs. When placed on a patient’s neck over the vagus nerve, gammaCore stimulates the nerve’s afferent fibers, which may lead to a reduction of pain in patients.

gammaCore (nVNS) is FDA cleared in the United States for adjunctive use for the preventive treatment of cluster headache in adult patients, the acute treatment of pain associated with episodic cluster headache in adult patients, and the acute and preventive treatment of migraine in adolescent (ages 12 and older) and adult patients. gammaCore is CE-marked in the European Union for the acute and/or prophylactic treatment of primary headache (Migraine, Cluster Headache, Trigeminal Autonomic Cephalalgias and Hemicrania Continua) and Medication Overuse Headache in adults.

gammaCore is contraindicated for patients if they:

• Have an active implantable medical device, such as a pacemaker, hearing aid implant, or any implanted electronic device
• Have a metallic device, such as a stent, bone plate, or bone screw, implanted at or near the neck
• Are using another device at the same time (e.g., TENS Unit, muscle stimulator) or any portable electronic device (e.g., mobile phone)
  
  

Safety and efficacy of gammaCore have not been evaluated in the following patients:

• Patients diagnosed with narrowing of the arteries (carotid atherosclerosis)
• Patients who have had surgery to cut the vagus nerve in the neck (cervical vagotomy)
• Pediatric patients (less than 12 years)
• Pregnant women
• Patients with clinically significant hypertension, hypotension, bradycardia, or tachycardia
  
  

Please refer to the gammaCore Instructions for Use for all of the important warnings and precautions before using or prescribing this product.

Forward-Looking Statements
This press release and other written and oral statements made by representatives of electroCore may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements include, but are not limited to, statements about electroCore's anticipated benefits of accessing Red One’s federal marketplace network; its business prospects and clinical and product development plans; its pipeline or potential markets for its technologies; the timing, outcome and impact of regulatory, clinical and commercial developments; the availability and impact of payer coverage, the potential of nVNS generally and other statements that are not historical in nature, particularly those that utilize terminology such as "anticipates," "will," "expects," "believes," "intends," other words of similar meaning, derivations of such words and the use of future dates. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the ability to raise the additional funding needed to continue to pursue electroCore’s business and product development plans, the inherent uncertainties associated with developing new products or technologies, the ability to commercialize gammaCore™, the potential impact and effects of COVID-19 on the business of electroCore, electroCore’s results of operations and financial performance, and any measures electroCore has and may take in response to COVID-19 and any expectations electroCore may have with respect thereto, competition in the industry in which electroCore operates and overall market conditions. Any forward-looking statements are made as of the date of this press release, and electroCore assumes no obligation to update the forward-looking statements or to update the reasons why actual results could differ from those projected in the forward-looking statements, except as required by law. Investors should consult all of the information set forth herein and should also refer to the risk factor disclosure set forth in the reports and other documents electroCore files with the SEC available at www.sec.gov.

FAQ

What is the significance of the agreement between electroCore and Red One Medical Devices?

The agreement expands the availability of gammaCore therapy in federal channels, helping veterans and active military personnel access treatment.

What does gammaCore therapy treat?

gammaCore therapy is used for the preventive treatment of cluster headaches and acute treatment of migraines.

How does the partnership with Red One benefit electroCore?

It allows electroCore to access various government contracting portals, facilitating easier procurement of their products.

When was the partnership with Red One announced?

The partnership was announced on August 24, 2021.

Who will benefit from the gammaCore therapy?

Military service members, veterans, and their families suffering from primary headaches will benefit from the therapy.