Zomedica Announces Expansion of Market Opportunity for TRUFORMA(R) Diagnostic Platform with Launch of First-and-only Point of Care eACTH Assay for Diagnosis and Management of Cushing’s Disease in Horses
ANN ARBOR, MI / ACCESSWIRE / September 14, 2023 / Zomedica Corp. (NYSE American:ZOM) (“Zomedica” or the “Company”), a veterinary health company offering diagnostic and therapeutic products for companion animals, today announced the commercial launch of its newest assay – endogenous ACTH (eACTH) for equine plasma – for the TRUFORMA In-Clinic Biosensor Testing Platform.
Larry Heaton, Zomedica’s Chief Executive Officer, commented, “For the last two years the TRUFORMA diagnostic platform has brought novel point of care diagnostic capabilities to small animal veterinarians, including Feline Optimized TSH and canine endogenous ACTH assays. Now equine veterinarians can experience the reference lab accuracy and point of care convenience of the TRUFORMA diagnostic platform with our newest assay, eACTH for equine plasma. This assay enables equine veterinarians in the clinic or at the stall to diagnose equine Cushing’s Disease, known clinically as pituitary pars intermedia dysfunction (PPID), and monitor positive patients as they titrate therapy. This new assay for the TRUFORMA instrument is an example of Zomedica’s ongoing focus to meet the needs of clinical veterinarians in ways that promote both patient and practice health.”
PPID or Cushing’s disease is one of the most common endocrine disorders in horses and ponies. Left undiagnosed and untreated, quality of life for these animals will rapidly decline and their life expectancy will shorten.
The measurement of baseline eACTH is widely accepted as the most effective way to help diagnose PPID and plays an essential role in disease management, but until now, to test eACTH levels, blood samples needed special handling and shipping to remote labs, risking sample degradation or even loss. The TRUFORMA eACTH assay for equine plasma will offer equine veterinarians the ability to diagnose and screen for PPID as well as monitor patients being treated for PPID in their own labs or even stall side in minutes. The TRUFORMA device, being compact, easy to use, and durable, is a great fit for the unique challenges that face equine practitioners.
Adrian Lock, Vice President & General Manager of Zomedica, addressed the business opportunity for the Company, “There are approximately 2,500 Equine Veterinary practices in the U.S. and currently over 1,200 of them routinely use our PulseVet shock wave system. This will allow us to rapidly engage with the Equine Veterinary community to quickly bring this vital screening technology to patients. We anticipate this will become a tool used by Equine veterinarians daily as they care for the millions of horses in the US susceptible to PPID.”
For more information on Zomedica please visit www.zomedica.com.
About Zomedica
Based in Ann Arbor, Michigan, Zomedica (NYSE American: ZOM) is a veterinary health company creating products for companion animals by focusing on the unmet needs of clinical veterinarians. Zomedica’s product portfolio will include innovative diagnostics and medical devices that emphasize patient health and practice health. It is Zomedica’s mission to provide veterinarians the opportunity to increase productivity and grow revenue while better serving the animals in their care. For more information, visit www.ZOMEDICA.com.
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Except for statements of historical fact, this news release contains certain “forward-looking information” or “forward-looking statements” (collectively, “forward-looking information”) within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as “plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate” and other similar words, or statements that certain events or conditions “may” or “will” occur and include statements relating to our expectations regarding future results. Although we believe that the expectations reflected in the forward-looking information are reasonable, there can be no assurance that such expectations will prove to be correct. We cannot guarantee future results, performance, or achievements. Consequently, there is no representation that the actual results achieved will be the same, in whole or in part, as those set out in the forward-looking information.
Forward-looking information is based on the opinions and estimates of management at the date the statements are made, including assumptions with respect to economic growth, demand for the Company’s products, the Company’s ability to produce and sell its products, sufficiency of our budgeted capital and operating expenditures, the satisfaction by our strategic partners of their obligations under our commercial agreements, our ability to realize upon our business plans and cost control efforts and the impact of COVID-19 on our business, results and financial condition.
Our forward-looking information is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking information. Some of the risks and other factors that could cause the results to differ materially from those expressed in the forward-looking information include, but are not limited to:veterinary acceptance of our products in the TRUFORMA® eACTH product; costs associated with manufacturing our products; the application of generally accepted accounting principles, which are highly complex and involve many subjective assumptions, estimates, and judgments, uncertainty as to whether our strategies and business plans will yield the expected benefits; uncertainty as to the timing and results of development work and verification and validation studies; uncertainty as to the timing and results of commercialization efforts, as well as the cost of commercialization efforts, including the cost to develop an internal sales force and manage our growth; uncertainty as to our ability to supply products in response to customer demand; uncertainty as to the likelihood and timing of any required regulatory approvals, and the availability and cost of capital; the ability to identify and develop and achieve commercial success for new products and technologies; competition from related products; the level of expenditures necessary to maintain and improve the quality of products and services; changes in technology and changes in laws and regulations; our ability to secure and maintain strategic relationships; performance by our strategic partners of their obligations under our commercial agreements, including product manufacturing obligations; risks pertaining to permits and licensing, intellectual property infringement risks, risks relating to any required clinical trials and regulatory approvals, risks relating to the safety and efficacy of our products, the use of our products, intellectual property protection, risks related to the COVID-19 pandemic and its impact upon our business operations generally, including our ability to develop and commercialize our products, and the other risk factors disclosed in our filings with the SEC and under our profile on SEDAR at www.sedar.com. Readers are cautioned that this list of risk factors should not be construed as exhaustive.
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Contact:
Dave Gentry
RedChip Companies Inc.
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Or 407-491-4498
ZOM@redchip.com
SOURCE: Zomedica Corp.
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