ENDRA Life Sciences Signs First Distribution Agreement for TAEUS(R)
ENDRA Life Sciences (NASDAQ: NDRA) has signed an exclusive distribution agreement with Quang Phat Technology Science Equipment Co. Ltd. to sell at least 40 TAEUS liver imaging systems in Vietnam. The agreement, effective over three years, hinges on securing FDA clearance and local approvals before sales commence. This marks ENDRA's first commercial agreement in Southeast Asia, aimed at addressing the rising incidence of NAFLD in Vietnam's 96 million population. ENDRA aims to capitalize on its innovative technology to provide non-invasive liver disease diagnostics.
- Exclusive agreement for the sale of 40 TAEUS systems in Vietnam.
- First distribution agreement in Southeast Asia, indicating market expansion.
- Targeting Vietnam's growing need for non-invasive liver disease detection.
- None.
Exclusive agreement for Vietnam includes the sale of at least 40 liver imaging systems
ANN ARBOR, MI / ACCESSWIRE / December 7, 2020 / ENDRA Life Sciences Inc. ("ENDRA") (NASDAQ:NDRA), a developer of enhanced ultrasound technologies, today announced that Quang Phat Technology Science Equipment Co. Ltd, signed an exclusive distribution agreement for the sale of ENDRA's Thermo Acoustic Enhanced UltraSound (TAEUS) liver systems in Vietnam. The agreement requires the purchase of more than 40 units over the three-year term in order to maintain exclusivity. Sales are expected to begin as soon as TAEUS receives U.S. Food and Drug Administration (FDA) clearance and local regulatory approvals.
While ENDRA is currently focused on commercialization efforts in Europe, where TAEUS already received the CE regulatory mark, the Company has selectively pursued global market expansion with other partners via its participation at international tradeshows and conferences.
This distribution agreement represents ENDRA's first in Southeast Asia with a partner who wanted to secure early, exclusive rights to sell TAEUS in a country where NAFLD has been growing significantly.
"Our pivot to digital marketing that was necessitated by the COVID-19 pandemic, as well as our strong historical presence at global clinical conferences since 2018 have allowed ENDRA to highlight the features and benefits of our groundbreaking technology in assessing NAFLD and NASH to a global audience. This has led to our first commercial agreement with a strong marketing partner in Vietnam," said Renaud Maloberti, ENDRA's Chief Commercial Officer.
"Vietnam's population of 96 million with a high prevalence of liver disease presents a significant opportunity for TAEUS to cost-effectively address a growing need for the early and non-invasive detection of liver disease. We are proud to be partnered with such an innovative company as ENDRA," said Tien Bang, Director of Quang Phat Technology
About ENDRA Life Sciences Inc.
ENDRA Life Sciences is the pioneer of Thermo Acoustic Enhanced UltraSound (TAEUSⓇ), a ground-breaking technology being developed to visualize tissue like MRI, but at 1/50th the cost and at the point of patient care. TAEUS is designed to work in concert with the over one million ultrasound systems in use globally today. TAEUS is initially focused on the measurement of fat in the liver as a means to assess and monitor Non-Alcoholic Fatty Liver Disease (NAFLD) and inflammation (NASH), chronic liver conditions that affect over one billion people globally, and for which there are no practical diagnostic tools. Beyond the liver, ENDRA is exploring several other clinical applications of TAEUS, including visualization of tissue temperature during energy-based surgical procedures. For more information, please visit www.endrainc.com.
About QUANG PHAT TECHNOLOGY SCIENCE EQUIPMENT CO.
Quang Phat Technology Science Equipment Co., along with Kholico Service and Trading Co., is part of the Quaphaco family of companies and is a distributor of high-end diagnostic and imaging equipment to the medical community in Vietnam, Laos and Cambodia. Representing brands such as Mindray, Swissray and Curetis, among others, the company has established itself as a premier provider of value-added medical technology to hospitals and medical centers in Southeast Asia. For more information please visit www.kholico.com
Forward-Looking Statements
All statements in this news release that are not based on historical fact are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements, which are based on certain assumptions and describe our future plans, strategies and expectations, can generally be identified by the use of forward-looking terms such as "believe," "expect," "may," "will," "should," "could," "seek," "intend," "plan," "goal," "estimate," "anticipate" or other comparable terms. Examples of forward-looking statements include, among others, estimates of the timing of future events and achievements, such as the expectations regarding commercializing the TAEUS device, receipt of U.S. Food and Drug Administration regulatory approval, sales, if any, to be made under distribution agreements, and expectations concerning ENDRA's business strategy. Forward-looking statements involve inherent risks and uncertainties which could cause actual results to differ materially from those in the forward-looking statements, as a result of various factors including, among others, our ability to develop a commercially feasible technology; receipt of necessary regulatory approvals; the impact of COVID-19 on our business plans; our ability to find and maintain development partners, market acceptance of our technology and the amount and nature of competition in our industry; our ability to protect our intellectual property; and the other risks and uncertainties described in ENDRA's filings with the Securities and Exchange Commission. The forward-looking statements made in this news release speak only as of the date of issuance, and ENDRA assumes no obligation to update any such forward-looking statements to reflect actual results or changes in expectations, except as otherwise required by law.
Company Contact:
David Wells
Chief Financial Officer
(734) 997-0464
investors@endrainc.com
www.endrainc.com
Investor Relations Contact:
Kim Sutton Golodetz
LHA Investor Relations
(212) 838-3777
kgolodetz@lhai.com
SOURCE: ENDRA Life Sciences Inc.
View source version on accesswire.com:
https://www.accesswire.com/619321/ENDRA-Life-Sciences-Signs-First-Distribution-Agreement-for-TAEUSR
FAQ
What is ENDRA Life Sciences' recent agreement in Vietnam?
How many TAEUS systems will ENDRA sell in Vietnam?
What does the agreement with Quang Phat Technology entail?
What conditions must ENDRA meet for sales to begin in Vietnam?
