Suwanee, GA, May 20, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- SANUWAVE Health, Inc. (OTCQB: SNWV), an emerging medical technology company focused on the development and commercialization of noninvasive, biological response activating devices in regenerative medicine, today announced they have retained Alira Health to assist in exploring strategic alternatives and partnerships for the European Wound market.
SANUWAVE has engaged an expert advisor, Alira Health, to explore the European wound market after having a number of potential partners approach the company about opportunities in Europe. The company’s top priority during 2019 and 2020 will remain the commercialization and roll out of dermaPACE® in the US market. Since receiving FDA clearance in late December 2017, the company has been approached by a number of companies wishing to work with SANUWAVE in various capacities in Europe. The various opportunities have included exclusivities, specific country distribution, and joint ventures. SANUWAVE has decided to engage Alira to help manage the process to get the best outcome for the shareholders of SANUWAVE. We anticipate closing a transaction or partnership within Europe during the third quarter of 2019.
The European wound care market is estimated to be over $3 billion and is growing at 3.8% annually. The rate of diabetes increasing coupled with 25% of the population being over the age of 60 makes for a large potential DFU market which can be treated by the dermaPACE system. SANUWAVE has already received all the necessary registrations and clearances to use dermaPACE throughout Europe.
“We have worked with Alira Health on a number of projects in the past and their experience and knowledge of the wound care space, specifically in Europe, makes them uniquely qualified to represent us in finding the right type of partnership. They are familiar with our technology and have already begun reaching out to potential partners in the region. Engaging Alira Health to find the right partner allows the SANUWAVE team to remain focused on the roll out in the US while at the same time provides us a springboard into the European market which will only accelerate placements and revenue,” stated CEO Kevin Richardson.
About Alira Health
Alira Health is an international advisory firm providing integrated product development, regulatory, clinical, strategic consulting, and transaction advisory services for healthcare and life science companies. Alira Health has deep expertise in Wound Care, and they bring an integrated team of strategists, clinical and regulatory experts, bankers, doctors, and scientists to each project, collaborating closely with clients to provide a continuum of support across the product and corporate lifecycle.
About SANUWAVE Health, Inc.
SANUWAVE Health, Inc. (OTCQB: SNWV) (www.SANUWAVE.com) is a shock wave technology company initially focused on the development and commercialization of patented noninvasive, biological response activating devices for the repair and regeneration of skin, musculoskeletal tissue and vascular structures. SANUWAVE’s portfolio of regenerative medicine products and product candidates activate biologic signaling and angiogenic responses, producing new vascularization and microcirculatory improvement, which helps restore the body’s normal healing processes and regeneration. SANUWAVE applies its patented PACE® technology in wound healing, orthopedic/spine, plastic/cosmetic and cardiac conditions. Its lead product candidate for the global wound care market, dermaPACE®, is US FDA cleared for the treatment of Diabetic Foot Ulcers. The device is also CE Marked throughout Europe and has device license approval for the treatment of the skin and subcutaneous soft tissue in Canada, South Korea, Australia and New Zealand. SANUWAVE researches, designs, manufactures, markets and services its products worldwide, and believes it has demonstrated that its technology is safe and effective in stimulating healing in chronic conditions of the foot (plantar fasciitis) and the elbow (lateral epicondylitis) through its U.S. Class III PMA approved OssaTron® device, as well as stimulating bone and chronic tendonitis regeneration in the musculoskeletal environment through the utilization of its OssaTron, Evotron® and orthoPACE® devices in Europe, Asia and Asia/Pacific. In addition, there are license/partnership opportunities for SANUWAVE’s shock wave technology for non-medical uses, including energy, water, food and industrial markets.
This press release may contain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, such as statements relating to financial results and plans for future business development activities, and are thus prospective. Forward-looking statements include all statements that are not statements of historical fact regarding intent, belief or current expectations of the Company, its directors or its officers. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond the Company’s ability to control. Actual results may differ materially from those projected in the forward-looking statements. Among the key risks, assumptions and factors that may affect operating results, performance and financial condition are risks associated with the regulatory approval and marketing of the Company’s product candidates and products, unproven pre-clinical and clinical development activities, regulatory oversight, the Company’s ability to manage its capital resource issues, competition, and the other factors discussed in detail in the Company’s periodic filings with the Securities and Exchange Commission. The Company undertakes no obligation to update any forward-looking statement.
For additional information about the Company, visit www.sanuwave.com.
Millennium Park Capital LLC
SANUWAVE Health, Inc.
Kevin Richardson II
Chairman of the Board
SOURCE: Globe Newswire, 20th May 2019