Therma Bright's Venowave VW5 Secures FDA 510K Approval
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) ha ricevuto l'approvazione FDA 510K per il suo dispositivo Venowave VW5, che soddisfa i requisiti dei Centri statunitensi per Medicare e Medicaid Services (CMS). Questa approvazione consente l'utilizzo del dispositivo successivamente da più pazienti, un fattore chiave per garantire codici CPT® e HCPCS permanenti. Il Venowave VW5 è una pompa peristaltica compatta e a batteria che migliora il flusso vascolare e linfatico degli arti inferiori, mirata a condizioni come la trombosi venosa profonda (DVT) e l'embolia polmonare (PE).
Con questa approvazione, Therma Bright prevede l'emissione imminente di codici permanenti, consentendo ai partner distributori di fornire Venowave ai professionisti medici di Medicare e Medicaid. L'azienda ha anche coinvolto Outside The Box Capital Inc. per servizi di marketing e relazioni con gli investitori, al fine di migliorare la comunicazione con gli investitori e ampliare la visibilità.
Therma Bright Inc. (TSXV: THRM) (OTCQB: TBRIF) ha recibido la aprobación 510K de la FDA para su dispositivo Venowave VW5, cumpliendo con los requisitos de los Centros de Servicios Medicare y Medicaid de EE. UU. (CMS). Esta aprobación permite que el dispositivo sea utilizado sucesivamente por múltiples pacientes, un factor clave para asegurar códigos permanentes CPT® y HCPCS. El Venowave VW5 es una bomba peristáltica compacta y a batería que mejora el flujo vascular y linfático en las extremidades inferiores, enfocándose en condiciones como la trombosis venosa profunda (DVT) y la embolia pulmonar (PE).
Con esta aprobación, Therma Bright espera la emisión inminente de códigos permanentes, lo que permitirá a los socios de distribución desplegar Venowave entre los médicos de Medicare y Medicaid. La empresa también ha contratado a Outside The Box Capital Inc. para servicios de marketing y relaciones con inversores, con el fin de mejorar la comunicación con los inversores y aumentar la visibilidad.
Therma Bright Inc. (TSXV: THRM) (OTCQB: TBRIF)는 미국 메디케어 및 메디케이드 서비스 센터(CMS)의 요구 사항을 충족하는 Venowave VW5 장치에 대해 FDA 510K 승인을 받았습니다. 이 승인은 장치가 다수의 환자에 의해 순차적으로 사용될 수 있도록 하며, 이는 영구 CPT® 및 HCPCS 코드를 확보하는 데 중요한 요소입니다. Venowave VW5는 하체의 혈관 및 림프 흐름을 개선하는 소형 배터리 작동 압축 펌프로, 심부정맥 혈전증(DVT) 및 폐색전증(PE)과 같은 질환을 타겟으로 합니다.
이 승인으로 Therma Bright는 영구 코드를 곧 발급받을 것으로 기대하고 있으며, 이는 배급 파트너가 Venowave를 메디케어 및 메디케이드 의료 제공자에게 배포할 수 있게 합니다. 회사는 또한 투자자와의 소통을 향상시키고 가시성을 확대하기 위해 Outside The Box Capital Inc.를 마케팅 및 투자자 관계 서비스에 참여시켰습니다.
Therma Bright Inc. (TSXV: THRM) (OTCQB: TBRIF) a reçu l'approbation 510K de la FDA pour son appareil Venowave VW5, répondant aux exigences des Centers for Medicare and Medicaid Services (CMS) des États-Unis. Cette approbation permet d'utiliser l'appareil successivement par plusieurs patients, un facteur clé pour obtenir des codes CPT® et HCPCS permanents. Le Venowave VW5 est une pompe péristaltique compacte et à batterie qui améliore le flux vasculaire et lymphatique dans les membres inférieurs, ciblant des conditions telles que la thrombose veineuse profonde (TVP) et l'embolie pulmonaire (EP).
Avec cette approbation, Therma Bright s'attend à la délivrance imminente de codes permanents, permettant aux partenaires distributeurs de déployer Venowave auprès des praticiens de Medicare et Medicaid. L'entreprise a également engagé Outside The Box Capital Inc. pour des services de marketing et de relations investisseurs afin d'améliorer la communication avec les investisseurs et d'élargir la visibilité.
Therma Bright Inc. (TSXV: THRM) (OTCQB: TBRIF) hat die FDA 510K-Zulassung für sein Venowave VW5-Gerät erhalten, das den Anforderungen der Centers for Medicare and Medicaid Services (CMS) der USA entspricht. Diese Genehmigung erlaubt es, das Gerät hintereinander von mehreren Patienten verwendet zu werden, was ein entscheidender Faktor für die Sicherstellung von dauerhaften CPT®- und HCPCS-Codes ist. Das Venowave VW5 ist eine kompakte, batteriebetriebene peristaltische Pumpe, die den Gefäß- und Lymphfluss in den unteren Extremitäten verbessert und auf Erkrankungen wie tiefe Venenthrombose (DVT) und Lungenembolie (PE) abzielt.
Mit dieser Genehmigung erwartet Therma Bright die baldige Ausstellung permanenter Codes, wodurch Vertriebspartner Venowave bei Ärzten von Medicare und Medicaid einsetzen können. Das Unternehmen hat auch Outside The Box Capital Inc. mit Marketing- und Investor Relations-Diensten beauftragt, um die Kommunikation mit Investoren zu verbessern und die Sichtbarkeit zu erhöhen.
- FDA 510K approval received for Venowave VW5 device
- Approval addresses CMS requirements for permanent CPT® and HCPCS codes
- Device targets conditions affecting over 900,000 U.S. citizens annually
- Distribution partners ready to deploy Venowave to Medicare and Medicaid practitioners
- None.
Toronto, Ontario--(Newsfile Corp. - July 29, 2024) - Therma Bright Inc. (TSXV: THRM) (OTCQB: TBRIF) ("Therma" or the "Company"), a developer and investment partner in a wide range of leading-edge, proprietary diagnostic and medical device technologies, is pleased to announce that the Company has received the U.S. Food and Drug Administration's (FDA) approval on its 510K application request to correct the Venowave VW5 device's intended use, labeling, and description. This approval addresses the U.S. Centers for Medicare and Medicaid Services (CMS) requirement for issuing the Venowave VW5 permanent Current Procedural Terminology (CPT®) and Healthcare Common Procedure Coding System (HCPCS) codes.
As reported, CMS asked the Company to secure approval from the FDA through an updated 510K application stating that the Venowave VW5 device could be used successively by multiple patients; a key requirement for securing the ten (10) permanent CPT® and HCPCS codes.
"With the FDA 510K application approval, as well as the CMS pricing and new HCPCS Level II code designation recommendations and review process complete, the Company expects the Venowave's permanent codes approval imminently," shared Rob Fia, CEO of Therma Bright. "Our distribution partners are standing ready to begin their work to deploy our Venowave to their network of Medicare and Medicaid medical practitioners to help their patients with a variety of circulatory issues, including deep vein thrombosis (DVT) and pulmonary embolism (PE) that the Centers for Disease Control and Prevention (CDC) estimates over 900,000 U.S. citizens are impacted by every year."
The Venowave VW5 is a series of compact, battery-operated peristaltic pumps that generate a waveform motion. When worn below the knee, strapped firmly to the calf, the device results in compression of the calf and consequently an increased upward volumetric displacement of venous and lymph fluid. The 2-pair unit induces improved vascular and lymphatic flow in the lower limbs. Operating with a single rechargeable 1.5 V NiMh AA battery, this 510K FDA-approved Durable Medical Equipment device enables users to receive treatment anywhere while remaining active. The Venowave VW5 assures it can withstand repeated use by successive patients.
In other news, the Company announces that it has entered into a marketing and consulting agreement (the "OTBC Agreement") with an arm's length marketing firm, Outside The Box Capital Inc. ("OTBC") of Oakville, Ontario, to provide marketing consulting and investor relations services, including marketing services through social media channels and online media distribution.
In connection with the OTBC Agreement, for a term of 3 months starting on July 26, 2024, the Company will pay OTBC a cash fee of
The Company's engagement with OTBC is another step in its efforts to enhance communication with the current investor community and expand visibility to a greater audience. OTBC specializes in various social media platforms and will be able to facilitate greater awareness and widespread dissemination of the Company's news.
About Therma Bright Inc.
Therma Bright is a developer and partner in a wide range of leading edge, proprietary diagnostic and medical device technologies focused on providing consumers and medical professionals with quality, innovative solutions that address some of today's most important medical and healthcare challenges. Therma Bright Inc. trades on the (TSXV: THRM) (OTCQB: TBRIF) (FSE: JNX). Visit: www.thermabright.com.
Therma Bright Inc.
Rob Fia, CEO
rfia@thermabright.com
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FORWARD-LOOKING STATEMENTS
Certain statements in this news release constitute "forward-looking" statements. These statements relate to future events such as the commercialization of Venowave and related technology as described in the news release. All such statements involve substantial known and unknown risks, uncertainties and other factors which may cause the actual results to vary from those expressed or implied by such forward-looking statements. Forward-looking statements involve significant risks and uncertainties, they should not be read as guarantees of future performance or results, and they will not necessarily be accurate indications of whether such results will be achieved. Actual results could differ materially from those anticipated due to several factors and risks. Although the forward-looking statements contained in this news release are based upon what management of the Company believes are reasonable assumptions on the date of this news release, the Company cannot assure investors that actual results will be consistent with these forward-looking statements. The forward-looking statements contained in this press release are made as of the date hereof and the Company disclaims any intention or obligation to update or revise any forward-looking statements whether because of new information, future events or otherwise, except as required under applicable securities regulations.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/218092
FAQ
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