IRVINE, Calif.–(BUSINESS WIRE)–Axonics Modulation Technologies, Inc. (NASDAQ:AXNX), a medical technology company that has developed and is commercializing a novel implantable rechargeable sacral neuromodulation (“SNM”) device, today announced that it has entered into an exclusive agreement to supply the Axonics r-SNM® System to Adult Pediatric Urology and Urogynecology (“ADPU”), headquartered in Omaha, Nebraska.
ADPU is a pioneering institution in the SNM treatment of urinary and bowel dysfunction, and its physicians have been successfully implanting SNM devices for more than a decade, purchasing approximately $2.5 million annually. ADPU is the first large group practice in the United States that has agreed to make Axonics the sole supplier of r-SNM® Systems for its patients.
The ADPU practice consists of urologists and urogynecologists in three office locations serving patients in Nebraska, Iowa and South Dakota. The Omaha site includes an accredited outpatient surgery center. In addition to treating urinary and bowel dysfunction, the focus of the practice includes, among other things, treatments for bladder, kidney and prostate cancer, benign prostatic hyperplasia, erectile dysfunction and pelvic organ prolapse.
Rebecca J. McCrery, M.D., board certified in Female Pelvic Medicine and Reconstructive Surgery, said, “We are excited to be the first private group practice in America to work exclusively with Axonics. We believe the advantages of the Axonics System are significant compared to the legacy product. The small size of the implant and long-lived nature of the rechargeable system will mitigate numerous replacement surgeries. The easy-to-use programmer, intuitive accessories and MRI compatibility combine for a superior patient experience. Axonics is clearly committed to this market, and we encourage our fellow implanters to make the switch.”
About Axonics Modulation Technologies, Inc. and Sacral Neuromodulation
Axonics, based in Irvine, Calif., has developed and is commercializing novel implantable SNM devices for patients with urinary and bowel dysfunction. The Axonics System is the first rechargeable SNM system approved for sale in the United States, Europe, Canada and Australia. These conditions are caused by a miscommunication between the bladder and the brain and significantly impacts quality of life. Overactive bladder affects an estimated 87 million adults in the U.S. and Europe. Another estimated 40 million adults are reported to suffer from fecal incontinence/accidental bowel leakage. SNM therapy has been employed to reduce symptoms and restore pelvic floor function for the past two decades. Reimbursement coverage is well established in the U.S. and Europe. The Axonics System is also the first SNM system to gain full-body MRI conditional labeling. For more information, visit the Company’s website at www.axonicsmodulation.com.
Statements made in this press release that relate to future plans, events, prospects or performance are forward-looking statements as defined under the Private Securities Litigation Reform Act of 1995. Words such as “planned,” “expects,” “believes,” “anticipates,” “designed,” and similar words are intended to identify forward-looking statements. While these forward-looking statements are based on the current expectations and beliefs of management, such forward-looking statements are subject to a number of risks, uncertainties, assumptions and other factors that could cause actual results to differ materially from the expectations expressed in this press release, including the risks and uncertainties disclosed in Axonics filings with the Securities and Exchange Commission, all of which are available online at www.sec.gov. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. Except as required by law, Axonics undertakes no obligation to update or revise any forward-looking statements to reflect new information, changed circumstances or unanticipated events.
Axonics Modulation Technologies, Inc.
Dan Dearen, +1-949-396-6320
President & Chief Financial Officer
Investor & Media Contact
Matt Clawson, +1-949-370-8500