Therma Bright Inc - TBRIF STOCK NEWS

Therma Bright (TBRIF) has secured a significant purchase order for 1,750 Venowave VW5 units from DME Authority, a national distributor based in Nashville, Tennessee. The order follows successful pilot trials and a previously signed Letter of Intent (LOI) positioning DME as a 'Premier Distributor Partner'. The purchase order represents potential HCPCS code reimbursements totaling $1,434,212 USD (approximately $2,051,602 CAD).

The company has initiated production with a new manufacturing partner to meet growing demand from their national distribution network. This development comes amid a promising market outlook, with the global compression therapy market valued at $4.18 billion in 2024 and projected to reach $6.72 billion by 2033, representing a CAGR of 7.30%.

Therma Bright Inc. (TSXV: THRM) (OTCQB: TBRIF) has secured an initial purchase order for 100 Venowave VW5 units from Valor Medical Solutions of San Antonio, Texas, a new national distribution partner. The order, valued at $81,955 USD ($117,952 CAD) in HCPCS code reimbursements, follows successful pilot tests of the reimbursement program.

Valor Medical and its network receive approximately 100 doctor referrals daily for vascular compression therapy solutions, with successful HCPCS code reimbursements typically processed within 30-60 days. The distributor plans to place regular orders every few weeks as they expand awareness of the Venowave VW5 solution.

This development occurs in a growing compression therapy market, valued at $4.18 billion in 2024 and projected to reach $6.72 billion by 2033, with a CAGR of 7.30%.

Therma Bright (TBRIF) has signed a letter of intent with DME Authority for a Venowave distribution program in the US. The agreement outlines plans to establish at least three Premier Distributor Partner contracts, each requiring a minimum $2,000,000 inventory purchase, totaling $6,000,000 in Venowave VW5 devices during H1 2025. An equal inventory purchase commitment is required for H2 2025.

DME Authority will acquire remaining Venowave VW5 inventory from Therma Bright in Q1 2025. The distribution program aims to expand patient access across various healthcare channels. The initiative leverages Venowave's permanent HCPCS code E0683 for Medicare reimbursement. The LOI remains non-binding until a final contract is signed.

Therma Bright (TSXV: THRM) (OTCQB: TBRIF) reports positive initial clinical trial results for the PREVA™ ischemic stroke device developed by its investment partner Inretio. The results were presented at the BRAIN Conference 2024 in London by Dr. Gal Yaniv, Director of Endovascular Neurosurgery from Sheba Medical Center. The first phase of clinical trials showed exceptional outcomes, demonstrating the device's potential to improve stroke care and patient recovery. Inretio's CEO Raviv Vine emphasized the company's mission to save lives through medical innovation. The successful presentation marks a significant milestone as Inretio progresses through its clinical program toward global market entry.

Therma Bright announces successful Medicare and Medicaid HCPCS Level II code reimbursements for its Venowave VW5 device through U.S. distribution partners within 60 days. Out of 110 units deployed in pilot tests since October 1, 2024, 25 units have received full reimbursement through commercial health networks or Medicare/Medicaid.

The Venowave VW5, qualifying for reimbursement under 10 medical indications, is a battery-operated peristaltic pump enhancing vascular and lymphatic flow in lower limbs. The FDA-designated Durable Medical Equipment device operates on a rechargeable battery and allows treatment during activity.

The company has begun discussions regarding sales roadmap and manufacturing schedules with distributors, while terminating previously announced private placement financings from September 27, 2024.

Therma Bright Inc. (TSXV: THRM) (OTCQB: TBRIF) has announced plans to spin off its Consumer Product Portfolio into a separate publicly traded company. The transaction, expected to complete in the first half of 2025, aims to enhance shareholder value and operational focus. The consumer portfolio will include TheroZap insect bite therapy device, InterceptCS cold sore prevention system, Benepod pain relief device, and AcuVid Covid-19 rapid antigen test. Shareholders will receive pro-rata distribution of shares in the new company. The AGM has been deferred until June 30, 2025, to align with the spin-off approval process.

Therma Bright announces a strategic partnership between its investment partners InStatin and InVixa. InVixa will assign its exclusive worldwide licensing agreement for inhaled statin solutions to InStatin, pending University of California, Davis approval. InStatin will issue 160,000 shares to InVixa shareholders, increasing Therma Bright's stake to approximately 20%. InStatin is initiating a Series A funding round to advance its statin inhalant solution for asthma and COPD. The global asthma treatment market is projected to reach $30.1 billion by 2030, while the lung disease therapeutics market is expected to grow from $83.4 billion in 2023 to $152.4 billion by 2033.

Therma Bright Inc. (TSXV: THRM) (OTCQB: TBRIF) announces that its investment portfolio company, InStatin, has secured an agreement with Mountain West Research for a non-GLP discovery study. This study will investigate the pharmacokinetics of InStatin's innovative statin inhalant solution for asthma and COPD treatment.

The research aims to provide insights for targeting the delivery of active pharmaceutical ingredients (API) in the lungs, supporting the development of InStatin's therapeutic solution. This pre-clinical study is a important step towards Phase 1 human trials.

Therma Bright owns 17% of InStatin, with potential for increased ownership through a SAFE investment. The Asthma Treatment market is projected to reach USD 39.04 billion by 2032, growing at a CAGR of 3.8% from 2023 to 2032.

Therma Bright Inc. (TSXV: THRM) (OTCQB: TBRIF) has appointed Douglas S. Sommerville to its Advisory Board. With 30 years of experience in the medical device industry, Sommerville brings valuable expertise to the company. He previously served as Head of Country for Teva Canada and Global Vice President of Infusion Systems at Baxter Healthcare International. Sommerville will focus on Venowave sales and business development efforts, leveraging his extensive network in the medical retail space, hospital management, and industry associations. Therma Bright has also granted 3,300,000 stock options to directors, officers, and consultants, exercisable at $0.08 per share for three years.