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NanoVibronix, Inc. (NASDAQ: NAOV) is a forward-thinking medical device company specializing in the development and commercialization of innovative products that leverage its proprietary low-intensity acoustic technology. Located in Elmsford, NY, with a subsidiary, NanoVibronix Ltd., based in Nesher, Israel, the company aims to revolutionize the medical field with cost-effective therapeutic ultrasound applications.
NanoVibronix's groundbreaking technology enables the creation of miniature transducers that transmit low-frequency, low-intensity ultrasound through flexible material surfaces. This unique feature is integral to a range of products designed for various medical applications, particularly those requiring noninvasive methods.
The company's flagship products include:
- PainShield®: A patch-based device carrying FDA clearance, designed for pain management through the delivery of therapeutic ultrasound.
- UroShield®: A device aimed at preventing biofilm formation and reducing urinary tract infections associated with catheter use.
- WoundShield®: A device that promotes wound healing by transmitting low-frequency ultrasound waves to stimulate tissue regeneration.
NanoVibronix's products are designed for home use, enabling patients to receive therapy without the need for medical professionals. This approach not only enhances patient convenience but also reduces healthcare costs.
In addition to its direct-to-patient sales, NanoVibronix partners with distributors to expand its market reach. The company's recent achievements include securing FDA clearance for PainShield® and forming strategic partnerships to enhance product distribution.
Overall, NanoVibronix, Inc. stands out for its innovative approach to medical device technology, focusing on noninvasive solutions for pain management, biofilm prevention, and wound healing, making significant strides in improving patient outcomes.
NanoVibronix, Inc. (NASDAQ: NAOV) reported a significant revenue increase of 164% in Q1 2022, totaling $272,000 compared to $103,000 in Q1 2021. The company has a strong backlog of orders and expects supply chain challenges to ease in H2 2022. Key developments include the submission of a 510(k) application for PainShield® MD PLUS and regulatory approvals for UroShield and PainGuard. The company reported a net loss of $1.1 million but holds $6.0 million in cash with no long-term debt, indicating a solid financial position.
NanoVibronix, Inc. (NASDAQ: NAOV) has submitted a 510(k) application to the U.S. FDA for its PainShield® MD PLUS, a dual-actuator ultrasound pain therapy device. CEO Brian Murphy emphasized that this submission is a significant step towards the full commercialization of the product, aimed at providing a non-drug solution for pain treatment. The device is designed for home use without messy gels and is built on a proven mechanism, having the potential to improve recovery times and patient compliance.
NanoVibronix, Inc. (NASDAQ: NAOV) announced the addition of its PainShield Plus and PainShield Monthly Kit to the Federal Supply Schedule, expanding access for veterans to non-opioid pain therapy products. This move joins the existing UroShield and PainShield MD devices, enhancing treatment options available to veterans while addressing the opioid crisis.
The PainShield Plus offers ultrasound therapy for pain management without gels, promoting safety and ease of use at home, allowing for faster recovery and higher patient compliance.
NanoVibronix, Inc. (NASDAQ: NAOV) has received positive guidance from the National Institute for Health and Care Excellence (NICE) regarding its UroShield® device. The guidance highlights UroShield's potential to prevent catheter-associated urinary tract infections (UTIs), suggesting further UK-based research to confirm its benefits. NICE's cost analysis indicates that UroShield could save costs in healthcare settings, warranting its use among NHS patients. This publication is a crucial step toward achieving NHS approval for UroShield's wider application.
NanoVibronix (NASDAQ: NAOV) announced the approval of its PainGuard and UroGuard products as licensed medical devices by Health Canada. This license enables Ideal Medical International Limited to market these products in Canada, enhancing NanoVibronix's distribution capabilities. The CEO highlighted the opportunity for growth, particularly addressing chronic pain affecting nearly one in four Canadians. The press release emphasizes the potential for the company's products to provide safer alternatives to opioids and reduce infections from urinary catheters.
NanoVibronix, Inc. (NASDAQ: NAOV) has signed a Provider Agreement with EZ Health Care, integrating into the EZ Workers’ Comp Network. This agreement aims to simplify the claims and reimbursement process for healthcare providers using PainShield under workers' compensation plans. CEO Brian Murphy stated that partnering with EZ Health Care will enhance PainShield's accessibility and promote non-opioid pain management.
With a focus on low-intensity surface acoustic wave technology, NanoVibronix continues to innovate in non-invasive pain relief solutions.
NanoVibronix, Inc. (NASDAQ: NAOV) has entered into an International Marketing, Sales and Clinical Management Agreement with Medtech Solutions Group (MTSG), enabling MTSG to sell the company's UroShield® and PainShield® devices across Europe, Asia Pacific, Africa, Central and South America, and parts of the Middle East, excluding specific countries.
This strategic partnership is poised to significantly expand NanoVibronix's market reach, potentially benefiting millions of patients and driving international revenue growth.
NanoVibronix Inc (NASDAQ: NAOV) has filed three patent applications with the U.S. Patent & Trademark Office aimed at expanding its portfolio of Surface Acoustic Wave (SAW) technology for medical devices. CEO Brian Murphy highlighted innovations including new applications in cosmetic dermatology, targeting a growing market. The patents also address enhancements to indwelling medical devices, contributing to infection prevention, a major healthcare concern. The implications of these developments could lead to new product launches and improvements, significantly impacting the company's market position.
NanoVibronix Inc. (NASDAQ: NAOV) announced the appointment of Aurora (Rori) Cassirer and Maria (Lulu) Schroeder as independent directors, effective immediately. This expands the board to eight members, six of whom are independent under Nasdaq rules. Cassirer brings over 30 years of legal and corporate governance expertise, while Schroeder offers significant financial experience from her previous roles, including CFO at Brain Sentinel. The company believes these appointments will enhance its strategic initiatives and support its growth in the medical device market.
NanoVibronix Inc. (NASDAQ: NAOV), a medical device company, will present at the H.C. Wainwright BioConnect Virtual Conference from January 10-13, 2022. CEO Brian Murphy will discuss the company's business and products, including the UroShield® and PainShield® devices, which utilize surface acoustic wave technology for therapeutic applications. The presentation will be available online starting on January 10 at 7 AM ET, with a recording accessible for 90 days. For registration, visit the conference link.
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