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(October 19, 2017)
DALLAS (PRWEB) October 19, 2017
Nexeon MedSystems Inc (OTC:QB “NXNN") announced today that it has received a Phase I Small Business Research Innovation (SBIR) grant from the National Heart, Lung and Blood Institute (NHLBI), part of the National Institutes of Health (NIH) to develop a neurostimulation therapy for asthma in collaboration with researchers at Oregon Health Sciences University. The funding award was granted due to the merits of the proposed development plan for a novel asthma treatment related to airway constriction. This therapy would be a second-line defence for patients whose current medications do not adequately treat their asthma.
Presently around the world, over 300 million people are living with asthma. The US and EU report figures of approximately 20 million and 10 million, respectively, with each sharing an <10% of the population being impacted. In the US, asthma has been linked to causing 40,000 missed days of work or school. There are over 30,000 asthma attacks per day, 5,000 emergency room visits, and 1,000 hospital admissions each day. The chronic disease is estimated to cost the nation over $70 billion annually.
Current studies are looking to demonstrate the ability of both auricular Vagus Nerve Stimulation (aVNS) and Vagus Nerve stimulation (VNS) to induce airway response improvements that are predictive of a clinically meaningful effect in humans. VNS is an FDA approved treatment for epilepsy and depression. Researchers worldwide are demonstrating the effects of VNS across various neurological disorders including Tinnitus, Stroke, Headaches, Arthritis, Obesity, and more.
Will Rosellini, Nexeon's CEO commented “We are excited to expand the utilization of either external or implantable neurostimulation solutions for the treatment of various disorders." “With both implantable Vagus Nerve and external auricular Vagus Nerve stimulation systems, we are able to pursue the optimal therapy for patients without biasing one system or the other." Formerly, Mr Rosellini founded Microtransponder, a company developing Vagus Nerve stimulation for the relief of motor impairment following a stroke.
Nexeon is engaged in multiple clinical trials with its Auricular Vagus Nerve stimulator and is finalizing development of its state-of-the-art implantable neuromodulation system which brings to the industry a powerful array of features including highly configurable stimulation patterns and closed loop sensing capabilities. The system is anticipated to receive European commercial approval in 2018 and begin parallel clinical trials in the US.
About Nexeon MedSystems Inc: Nexeon is a global bioelectronics medical device company focused on providing innovative neurostimulation products that improve the quality-of-life of patients suffering from debilitating neurological diseases. The Company has developed and commercialized a neurostimulation system that can be utilized to treat a variety of neurological diseases. For additional information, go to http://www.nexeonmed.com or email info(at)nexeonmed.com.
Forward-Looking Statements: This news release contains forward-looking statements which may be identified by their use of words like "plans," "expects," "will," "believes," "intends," "estimates," "anticipates" or other words of similar meaning. All statements that address expectations or projections about the future, including statements about the company's growth strategy, product development, regulatory approval, market position, anticipated benefits of acquisitions, timing of anticipated benefits from restructuring actions, outcome of contingencies, such as litigation and environmental matters, expenditures and financial results, are forward-looking statements. Forward-looking statements are not guarantees of future performance and are based on certain assumptions and expectations of future events which may not be realized. Forward-looking statements also involve risks and uncertainties, many of which are beyond the company's control. Some of the important factors that could cause the company's actual results to differ materially from those projected in any such forward-looking statements are: fluctuations in energy and raw material prices; failure to develop and market new products and optimally manage product life cycles; significant litigation and environmental matters; failure to appropriately manage process safety and product stewardship issues; changes in laws and regulations or political conditions; global economic and capital markets conditions, such as inflation, interest and currency exchange rates; business or supply disruptions; security threats, such as acts of sabotage, terrorism or war, weather events and natural disasters; ability to protect and enforce the company's intellectual property rights; successful integration of acquired businesses and separation of under-performing or non-strategic assets or businesses. The company undertakes no duty to update any forward-looking statements as a result of future developments or new information.
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