Therma Bright Inc - TBRIF STOCK NEWS

Therma Bright Inc. (TSXV: THRM) (OTCQB: TBRIF) announces a significant milestone achieved by its portfolio company, Inretio. The Preva® ischemic stroke clot removal device has successfully completed its third human trial, marking a major advancement in thrombectomy procedures. This innovative device offers enhanced precision and efficacy in blood clot removal, particularly effective when traditional treatments like tPA are insufficient.

The global coronary stents market is projected to reach $4.8 billion by 2029, presenting a substantial growth opportunity for Inretio and Therma Bright's investment. As Inretio progresses with the FDA 510K designation process, Therma Bright anticipates potential significant returns on its investment in this pioneering health-tech solution.

Therma Bright Inc. (TSXV: THRM) (OTCQB: TBRIF) has secured a new Nationwide U.S. Durable Medical Equipment (DME) distribution partner for its Venowave device. The partner has launched an initial sales program to assess Medicare/Medicaid reimbursement processes. Upon success, the distributor commits to acquire remaining inventory, valued at up to USD $2.38 million in reimbursement.

The Venowave VW5, effective for ten circulatory indications, offers up to USD $1,199 reimbursement per unit. Therma Bright expects its current inventory of 2,000 units to sell quickly, with strong demand for additional orders. The device's HCPCS Level II code E068 qualifies for reimbursement, potentially contributing significantly to the company's revenue and market valuation.

The new partnership offers favorable payment terms, reflecting confidence in Venowave's market readiness and reimbursement setup. Therma Bright anticipates successful program outcomes, leading to increased monthly orders and accelerated revenue growth.

Therma Bright's Venowave VW5 has secured a permanent Healthcare Common Procedure Coding System (HCPCS) code E0683 from the U.S. Centers for Medicare and Medicaid Services (CMS). This makes it the first-of-its-kind Durable Medical Equipment to receive a new HCPCS Level II designation. The device addresses deep vein thrombosis (DVT) and nine other circulatory issues.

CMS has approved a complete patient buyout option for a pair of Venowave devices with a capped reimbursement of $1199, or a rental option at $78.05 per month for 13 months. The Venowave VW5 is a compact, battery-operated peristaltic pump that improves vascular and lymphatic flow in the lower limbs. It offers advantages over compression socks, providing comfortable and effective treatment for various circulatory conditions.

Therma Bright Inc. (TSXV: THRM) (OTCQB: TBRIF) announced that its AI-powered Digital Cough Technology (DCT) is being considered as a partner technology for a new chronic cough drug clinical trial in the US. The company, in collaboration with AI4LYF, has developed this platform to support healthcare decision-making by improving respiratory data collection and analysis.

Therma Bright is also pursuing FDA classification and regulatory requirements for its DCT as a remote therapeutic monitoring solution. The company has prepared additional materials, including user guides and data capture platforms. Furthermore, Therma Bright is exploring possibilities for CMS reimbursement code designation and federal funding for its DCT platform, while awaiting final approval on permanent CMS reimbursement codes for its Venowave VW5 solution.

Therma Bright Inc. (TSXV: THRM) (OTCQB: TBRIF) has added Michael Raimondo to its advisory board. Raimondo, a 30-year veteran in the medical and pharmaceutical industries, brings extensive leadership experience and a track record of over $500 million in sales contracts. His initial focus will be on Venowave sales and business development.

Raimondo's expertise in sales negotiations and strategic account management is expected to boost Therma Bright's efforts in expanding its health-tech and med-tech device sales, particularly Venowave. The company is awaiting approval for patient reimbursement permanent codes from the U.S. Centers of Medicare and Medicaid (CMS) for Venowave, which could potentially benefit the 900,000 U.S. citizens who suffer from deep vein thrombosis annually.

Therma Bright Inc. (TSXV: THRM) (OTCQB: TBRIF) has expanded its investment in InStatin, a company developing an inhaled statin solution for chronic lung conditions like asthma and COPD. This investment is part of a SAFE (Simple Agreement for Future Equity) plan, which will increase Therma's ownership stake from the current 17% at a discount to InStatin's next financing round.

InStatin is initiating preclinical studies to progress towards Phase 1 human trials. The global asthma treatment market is projected to reach USD $30.1 billion by 2030, highlighting significant market potential. Additionally, Therma Bright is in discussions regarding its investment in InVixa, which is developing inhaled statins for COVID-19 pneumonia and ARDS treatment.

Therma Bright Inc. (TSXV: THRM) (OTCQB: TBRIF) has received positive notification from the U.S. Centers for Medicare & Medicaid Services (CMS) regarding pending permanent Current Procedural Terminology (CPT®) and Healthcare Common Procedure Coding System (HCPCS) codes for its Venowave VW5 device. The codes are expected to cover ten health-related and CMS reimbursable indications, including prevention of deep vein thrombosis (DVT) and management of post-thrombotic syndrome symptoms.

The company anticipates formal approval in the coming days, which could significantly impact its market opportunity. According to the CDC, over 900,000 U.S. citizens are affected by DVT and pulmonary embolism annually. Global market projections for DVT treatment alone range from USD $1.26 billion by 2028 to USD $1.554 billion by 2032.

Therma Bright Inc. (TSXV: THRM) (OTCQB: TBRIF) has received FDA 510K approval for its Venowave VW5 device, addressing the U.S. Centers for Medicare and Medicaid Services (CMS) requirements. This approval allows the device to be used successively by multiple patients, a key factor for securing permanent CPT® and HCPCS codes. The Venowave VW5 is a compact, battery-operated peristaltic pump that improves vascular and lymphatic flow in lower limbs, targeting conditions like deep vein thrombosis (DVT) and pulmonary embolism (PE).

With this approval, Therma Bright expects imminent issuance of permanent codes, enabling distribution partners to deploy Venowave to Medicare and Medicaid medical practitioners. The company has also engaged Outside The Box Capital Inc. for marketing and investor relations services to enhance communication with investors and expand visibility.

Therma Bright Inc. (TSXV: THRM) (OTCQB: TBRIF) (FSE: JNX), a developer and investment partner in diagnostic and medical device technologies, has engaged Independent Trading Group (ITG) for market-making services. This engagement, subject to regulatory approval, aims to maintain a reasonable market and improve liquidity of Therma Bright's common shares on the TSXV and other trading venues.

The agreement includes compensation of CAD $5,500 per month to ITG, with an initial one-month term that automatically renews unless terminated. Either party can terminate with 30 days' notice. ITG will not receive shares or options as compensation, and there are no performance factors in the agreement. The companies are unrelated, and ITG has no interest in Therma Bright's securities at the time of the agreement.