NeuroMetrix Reports DPNCheck® Expansion in China

Rhea-AI Summary

NeuroMetrix, Inc. (Nasdaq: NURO) announced expanded distribution of its DPNCheck product in China, which evaluates diabetic peripheral neuropathy. Originally launched in 2016 through exclusive distributor Omron Medical, DPNCheck is part of a comprehensive metabolic management strategy in over 300 hospitals. Recently, Omron partnered with Yabao Pharmaceutical to enhance its market presence, starting in northern China. This collaboration aims to improve diabetes-related patient care and leverages Yabao's extensive sales force and focus on chronic diseases.

Positive

• Expanded distribution of DPNCheck in China through collaboration with Yabao Pharmaceutical.
• Omron's established market presence in over 300 hospitals enhances DPNCheck's reach.
• Yabao's annual revenues of approximately $425M provide a strong partnership for growth.

Negative

• None.

WOBURN, Mass., July 09, 2020 (GLOBE NEWSWIRE) -- NeuroMetrix, Inc. (Nasdaq: NURO) today announced expanded distribution in China for DPNCheck, a fast, accurate and quantitative nerve conduction test for evaluation of peripheral neuropathies such as diabetic peripheral neuropathy (DPN).

DPNCheck was launched in China in 2016 by Omron Medical (Beijing) Ltd. (“Omron”), the Company’s exclusive China distributor. In addition to DPNCheck, Omron markets a wide range of medical products with a particular focus on diabetes and metabolic issues. Omron has been a leader in the establishment of comprehensive metabolic testing centers in hospitals with a large diabetes population. Currently there are over 300 China hospitals offering an Omron-designed Metabolic Management Center (MMC) which encompasses DPNCheck testing.  

Omron recently entered a collaboration with Yabao Pharmaceutical Co., Ltd (“Yabao”) for marketing DPNCheck initially in north China, Shanxi Provence, and potentially in a broader territory. Yabao is a top 100 Chinese pharmaceutical company, listed on the Shanghai exchange, with annual revenues of about $425M and a sales force of about 3,000 employees. It is focused on chronic diseases affecting the elderly, women, and children, including those with diabetes. Omron and Yabao will address the opportunity in north China to improve patient care for diabetic neuropathy involving DPNCheck and Yabao pharmaceutical products.

“Omron Medical is pleased to join with Yabao in bringing improved care to patients with health complications from diabetes,” said Mr. Yao Zhao, CEO of Omron Healthcare China. “DPNCheck plays an important diagnostic role in diabetic neuropathy, thereby facilitating more effective patient treatment with Yabao pharmaceutical products.”        

About DPNCheck

DPNCheck is a fast, accurate, and quantitative nerve conduction test that is used to evaluate peripheral neuropathies such as diabetic peripheral neuropathy (DPN). It is designed to be used by clinicians at the point-of-care to objectively detect, stage, and monitor DPN. More information is available at www.dpncheck.com.

About NeuroMetrix

NeuroMetrix is a leading developer and manufacturer of diagnostic and therapeutic neurostimulation-based medical devices that are used throughout the world.  The Company has three FDA cleared commercial products.  DPNCheck^® is a point-of-care test that is used to evaluate peripheral neuropathies.  ADVANCE^™ is a point-of-care device that provides nerve conduction studies as an aid in diagnosing and evaluating patients suspected of having focal or systemic neuropathies.  Quell^® 2.0 is a wearable, mobile app enabled, neurostimulation device indicated for symptomatic relief and management of chronic pain and is available over-the-counter.  For more information, visit NeuroMetrix.com.

NeuroMetrix, Inc.
Thomas T. Higgins, 781-314-2761
SVP and Chief Financial Officer
neurometrix.ir@neurometrix.com

Source: NeuroMetrix, Inc.

FAQ

What is the significance of the DPNCheck distribution expansion in China for NeuroMetrix (NURO)?

The expansion enhances NeuroMetrix's market presence in China, potentially increasing revenue through improved access to DPNCheck.

Who is NeuroMetrix's exclusive distributor for DPNCheck in China?

Omron Medical is the exclusive distributor for DPNCheck in China.

What is the role of Yabao Pharmaceutical in the DPNCheck distribution?

Yabao Pharmaceutical is collaborating with Omron to market DPNCheck in northern China, focusing on diabetic neuropathy care.

How many hospitals in China currently offer DPNCheck testing?

Over 300 hospitals in China offer DPNCheck testing as part of Omron's metabolic management centers.

What is the market focus of Yabao Pharmaceutical?

Yabao Pharmaceutical focuses on chronic diseases, particularly those affecting the elderly, women, and children, including diabetes.