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Oak Hill Capital Acquires Majority Stake in Technimark Holdings LLC

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Oak Hill Capital (“Oak Hill“), a New York-based middle-market private equity firm, announced that it had agreed to acquire a controlling stake in Technimark Holdings LLC (“Technimark” or “the Company”) through Oak Hill’s fifth institutional fund, forming a partnership with current investors, Pritzker Private Capital (“PPC”) and management. The terms of the transaction were not disclosed.

Headquartered in Asheboro, North Carolina, Technimark is a leading designer and manufacturer of custom, highly-engineered injection molded components, which it sells to a group of global healthcare, consumer and specialty industrial customers. “We have a great deal of respect for what Technimark has accomplished, including its strong track-record of delivering industry leading quality and service to its customers,” said Brian Cherry, Managing Partner at Oak Hill. “We are delighted to partner with Technimark’s world class management team.”

“Technimark is a fantastic business with industry leading engineering and innovation capabilities and a very impressive list of global customers,” said John Rachwalski, a Partner at Oak Hill. “Thanks to strong leadership and smart, well-executed investments, Technimark is distinctively positioned to capitalize on the trends in its core target markets. We look forward to supporting the Company’s exciting growth agenda over the course of our partnership.”

The management team of Technimark, led by Chief Executive Officer Brad Wellington, will continue to lead the Company and retain a meaningful ownership stake. “Oak Hill is a firm that shares our collaborative culture and our growth vision for the business. We look forward to a successful partnership as we continue investing in Technimark’s manufacturing and innovation capabilities to drive best-in-class results for our customers,” said Wellington.

William Blair & Company served as financial advisor to Oak Hill on the transaction and Goldman Sachs & Co and Wells Fargo Securities, LLC acted as financial advisor to Technimark. Paul, Weiss, Rifkind, Wharton & Garrison LLP is serving as legal advisor to Oak Hill and Kirkland & Ellis LLP is serving as legal counsel to Technimark and PPC.

The transaction is expected to close in the third quarter of 2021 and represents the ninth investment in the Oak Hill Capital Partners V portfolio.

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Source: https://infomeddnews.com/oak-hill-capital-acquires-majority-stake-in-technimark-holdings-llc/

Medical Devices

Sequana Medical to Host a Key Opinion Leader Webinar on “The Impact of Liver Ascites on Patients and Healthcare Systems and the potential of alfapump® therapy in NASH-related ascites”

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Live webinarwith Dr.Vargas and Dr. Knuttinenon15 July 2021at 4 pm CET / 10 am ET

GHENT, Belgium, June 17, 2021 (GLOBE NEWSWIRE) — Sequana Medical NV (Euronext Brussels: SEQUA, the “Company” or “Sequana Medical”), an innovator in the treatment of diuretic-resistant fluid overload in liver disease, malignant ascites and heart failure, today announces that it will host a Key Opinion Leader (KOL) call on July 15th, 2021 from 4 pm CET / 10 am ET to 5 pm CET / 11 am ET. The KOL call will discuss the impact of recurrent and refractory liver ascites on patients and healthcare systems and the potential of alfapump therapy in NASH-related ascites.

The webinar will feature a testimonial from a patient living with refractory ascites and treated with alfapump, followed by a presentation by KOLs Hugo E. Vargas, M.D. and Grace Knuttinen, M.D., Ph.D., both of Mayo Clinic, who will discuss the impact of ascites on the patients’ quality of life and the limitations of current treatment options. They will also share their experience with the alfapump implantation and discuss its potential in the treatment paradigm for these patients. A Q&A session with the KOLs and Sequana Medical management will follow the formal presentations.

Ascites is the most common reason for hospitalisation of patients with advanced liver disease and is forecast to grow dramatically driven by NASH-related cirrhosis. Sequana Medical’s alfapump has been granted FDA breakthrough device designation for the treatment of recurrent or refractory ascites due to liver cirrhosis.

The alfapump is a fully implantable pump system that moves ascites from the peritoneal cavity into the bladder, where it is passed naturally from the body through urination. The alfapump is approved in Europe and POSEIDON, the North American pivotal study to support regulatory approval in the US and Canada is underway. Positive interim data from the POSEIDON study were reported in November 2020 with further interim data expected in Q2 2021 and primary endpoint data in Q2 2022.

The webinar will be webcasted live at https://media.rampard.com/20210715b/. To get access to the webinar a registration in advance is required. The presentation and a replay of the webinar will be available on the website of Sequana Medical shortly after the event.

For more information, please contact:

Sequana Medical
Lies Vanneste
Director Investor Relations
Tel: +32 498 05 35 79
Email: IR@sequanamedical.com

LifeSci Advisors
Guillaume van Renterghem
Tel: +41 76 735 01 31
Email: gvanrenterghem@lifesciadvisors.com

About Dr. Vargas

Hugo E. Vargas, M.D. is a Mayo Clinic Consultant in the Department of Gastroenterology and Hepatology and the Mayo Clinic Transplantation Center. His current clinical and research interests include management of cirrhosis complications, acute chronic liver disease and alcohol related liver disease. Dr. Vargas is the Medical Director for the Office of Clinical Research – Arizona and a Professor of Medicine in the Mayo Clinic Alix School of Medicine and is the Chair of the Clinical Research Subcommittee, and the Vice Chair of the Arizona Research Operations Management Team. Dr. Vargas received his M.D. from Hahnemann University Graduate School of Medicine, has authored or coauthored more than 125 peer-reviewed articles and is a Fellow of the AASLD, AGA, ACG, ASGE and ACP.

About Dr. Knuttinen

Grace Knuttinen, M.D., Ph.D. is a Mayo Clinic Consultant and Professor in the Department of Radiology. She is an interventional radiologist with Mayo Clinic in Phoenix, with clinical and research interests in hepatobiliary disease, the management of post liver transplant complications, and vascular disease. Dr. Knuttinen has more than 20 years’ experience in interventional radiology and is a member of the Leadership Academy of the Society of Interventional Radiology and an Invited ABR Board Examiner for International Radiology at the American Board of Radiology. She is the Director for the Mayo Alix School of Medicine Dual Degree program, and the Director for the Barretts ASU- Mayo Alix School of Medicine Premedical Scholars program. Dr. Knuttinen received her M.D. and Ph.D. from Northwestern University, has coauthored over 95 peer-reviewed articles and written 13 book chapters. She is a Fellow of the Society of Interventional Radiology (SIR) and is the chair of a national SIR committee and currently the principal investigator of an ongoing national prospective funded clinical trial.

About Sequana Medical

Sequana Medical is a commercial stage medical device company utilizing its proprietary alfapump® and DSR® (Direct Sodium Removal) technologies to develop innovative treatments for fluid overload in liver disease, malignant ascites and heart failure where diuretics are no longer effective. Fluid overload is a frequent complication of many large diseases including advanced liver disease driven by NASH (non-alcoholic steatohepatitis)-related cirrhosis and heart failure, with diuretic resistance being widespread. The U.S. market for the alfapump resulting from NASH-related cirrhosis is forecast to exceed €3 billion annually within the next 10-20 years. The heart failure market for DSR and the alfapump DSR® is estimated to be over €5 billion annually in the U.S. and EU5 by 2026.

The alfapump is a unique, fully implanted wireless device that automatically pumps fluid from the abdominal cavity into the bladder, where it is naturally eliminated through urination. DSR is Sequana Medical’s proprietary approach to managing sodium and fluid overload through use of a sodium-free infusate administered into the abdominal cavity.

In the U.S., the Company’s key growth market, the alfapump has been granted breakthrough device designation by the FDA for recurrent or refractory ascites due to liver cirrhosis. Interim data from the ongoing North American pivotal study (POSEIDON) showed positive outcomes against all primary endpoints of the study. This study is intended to support a future marketing application of the alfapump in the U.S. and Canada. In Europe, the alfapump is CE-marked for the management of refractory ascites due to liver cirrhosis and malignant ascites and is included in key clinical practice guidelines. Over 850 alfapump systems have been implanted to date.

Sequana Medical has combined its proven alfapump and proprietary DSR therapy, and is developing the alfapump DSR, a breakthrough approach to fluid overload due to heart failure. RED DESERT, the repeated dose alfapump DSR study in diuretic-resistant heart failure patients has demonstrated that repeated DSR therapy is able to both manage the fluid and sodium balance of these patients as well as restore their diuretic response and improve their cardio-renal status. The SAHARA DESERT study of alfapump DSR in decompensated heart failure patients is ongoing.

Sequana Medical is headquartered in Ghent, Belgium. For further information, please visit www.sequanamedical.com.

Important Regulatory Disclaimers

The alfapump® system is not currently approved in the United States or Canada. In the United States and Canada, the alfapump® system is currently under clinical investigation (POSEIDON Study) and is being studied in adult patients with refractory or recurrent ascites due to cirrhosis. For more information regarding the POSEIDON clinical study see www.poseidonstudy.com. The DSR® therapy is still in development and it should be noted that any statements regarding safety and efficacy arise from ongoing pre-clinical and clinical investigations which have yet to be completed. The DSR® therapy is not currently approved for clinical research in the United States or Canada. There is no link between the DSR® therapy and ongoing investigations with the alfapump® system in Europe, the United States or Canada.

Note:alfapump® is a registered trademark. DSR® and alfapump DSR® are registered trademarks in the Benelux.

Forward-looking statements

This press release may contain predictions, estimates or other information that might be considered forward-looking statements. Such forward-looking statements are not guarantees of future performance. These forward-looking statements represent the current judgment of Sequana Medical on what the future holds, and are subject to risks and uncertainties that could cause actual results to differ materially. Sequana Medical expressly disclaims any obligation or undertaking to release any updates or revisions to any forward-looking statements in this press release, except if specifically required to do so by law or regulation. You should not place undue reliance on forward-looking statements, which reflect the opinions of Sequana Medical only as of the date of this press release.

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Sequana Medical to Host a Key Opinion Leader Webinar on “The Impact of Liver Ascites on Patients and Healthcare Systems and the potential of alfapump® therapy in NASH-related ascites”

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Live webinarwith Dr.Vargas and Dr. Knuttinenon15 July 2021at 4 pm CET / 10 am ET

GHENT, Belgium, June 17, 2021 (GLOBE NEWSWIRE) — Sequana Medical NV (Euronext Brussels: SEQUA, the “Company” or “Sequana Medical”), an innovator in the treatment of diuretic-resistant fluid overload in liver disease, malignant ascites and heart failure, today announces that it will host a Key Opinion Leader (KOL) call on July 15th, 2021 from 4 pm CET / 10 am ET to 5 pm CET / 11 am ET. The KOL call will discuss the impact of recurrent and refractory liver ascites on patients and healthcare systems and the potential of alfapump therapy in NASH-related ascites.

The webinar will feature a testimonial from a patient living with refractory ascites and treated with alfapump, followed by a presentation by KOLs Hugo E. Vargas, M.D. and Grace Knuttinen, M.D., Ph.D., both of Mayo Clinic, who will discuss the impact of ascites on the patients’ quality of life and the limitations of current treatment options. They will also share their experience with the alfapump implantation and discuss its potential in the treatment paradigm for these patients. A Q&A session with the KOLs and Sequana Medical management will follow the formal presentations.

Ascites is the most common reason for hospitalisation of patients with advanced liver disease and is forecast to grow dramatically driven by NASH-related cirrhosis. Sequana Medical’s alfapump has been granted FDA breakthrough device designation for the treatment of recurrent or refractory ascites due to liver cirrhosis.

The alfapump is a fully implantable pump system that moves ascites from the peritoneal cavity into the bladder, where it is passed naturally from the body through urination. The alfapump is approved in Europe and POSEIDON, the North American pivotal study to support regulatory approval in the US and Canada is underway. Positive interim data from the POSEIDON study were reported in November 2020 with further interim data expected in Q2 2021 and primary endpoint data in Q2 2022.

The webinar will be webcasted live at https://media.rampard.com/20210715b/. To get access to the webinar a registration in advance is required. The presentation and a replay of the webinar will be available on the website of Sequana Medical shortly after the event.

For more information, please contact:

Sequana Medical
Lies Vanneste
Director Investor Relations
Tel: +32 498 05 35 79
Email: IR@sequanamedical.com

LifeSci Advisors
Guillaume van Renterghem
Tel: +41 76 735 01 31
Email: gvanrenterghem@lifesciadvisors.com

About Dr. Vargas

Hugo E. Vargas, M.D. is a Mayo Clinic Consultant in the Department of Gastroenterology and Hepatology and the Mayo Clinic Transplantation Center. His current clinical and research interests include management of cirrhosis complications, acute chronic liver disease and alcohol related liver disease. Dr. Vargas is the Medical Director for the Office of Clinical Research – Arizona and a Professor of Medicine in the Mayo Clinic Alix School of Medicine and is the Chair of the Clinical Research Subcommittee, and the Vice Chair of the Arizona Research Operations Management Team. Dr. Vargas received his M.D. from Hahnemann University Graduate School of Medicine, has authored or coauthored more than 125 peer-reviewed articles and is a Fellow of the AASLD, AGA, ACG, ASGE and ACP.

About Dr. Knuttinen

Grace Knuttinen, M.D., Ph.D. is a Mayo Clinic Consultant and Professor in the Department of Radiology. She is an interventional radiologist with Mayo Clinic in Phoenix, with clinical and research interests in hepatobiliary disease, the management of post liver transplant complications, and vascular disease. Dr. Knuttinen has more than 20 years’ experience in interventional radiology and is a member of the Leadership Academy of the Society of Interventional Radiology and an Invited ABR Board Examiner for International Radiology at the American Board of Radiology. She is the Director for the Mayo Alix School of Medicine Dual Degree program, and the Director for the Barretts ASU- Mayo Alix School of Medicine Premedical Scholars program. Dr. Knuttinen received her M.D. and Ph.D. from Northwestern University, has coauthored over 95 peer-reviewed articles and written 13 book chapters. She is a Fellow of the Society of Interventional Radiology (SIR) and is the chair of a national SIR committee and currently the principal investigator of an ongoing national prospective funded clinical trial.

About Sequana Medical

Sequana Medical is a commercial stage medical device company utilizing its proprietary alfapump® and DSR® (Direct Sodium Removal) technologies to develop innovative treatments for fluid overload in liver disease, malignant ascites and heart failure where diuretics are no longer effective. Fluid overload is a frequent complication of many large diseases including advanced liver disease driven by NASH (non-alcoholic steatohepatitis)-related cirrhosis and heart failure, with diuretic resistance being widespread. The U.S. market for the alfapump resulting from NASH-related cirrhosis is forecast to exceed €3 billion annually within the next 10-20 years. The heart failure market for DSR and the alfapump DSR® is estimated to be over €5 billion annually in the U.S. and EU5 by 2026.

The alfapump is a unique, fully implanted wireless device that automatically pumps fluid from the abdominal cavity into the bladder, where it is naturally eliminated through urination. DSR is Sequana Medical’s proprietary approach to managing sodium and fluid overload through use of a sodium-free infusate administered into the abdominal cavity.

In the U.S., the Company’s key growth market, the alfapump has been granted breakthrough device designation by the FDA for recurrent or refractory ascites due to liver cirrhosis. Interim data from the ongoing North American pivotal study (POSEIDON) showed positive outcomes against all primary endpoints of the study. This study is intended to support a future marketing application of the alfapump in the U.S. and Canada. In Europe, the alfapump is CE-marked for the management of refractory ascites due to liver cirrhosis and malignant ascites and is included in key clinical practice guidelines. Over 850 alfapump systems have been implanted to date.

Sequana Medical has combined its proven alfapump and proprietary DSR therapy, and is developing the alfapump DSR, a breakthrough approach to fluid overload due to heart failure. RED DESERT, the repeated dose alfapump DSR study in diuretic-resistant heart failure patients has demonstrated that repeated DSR therapy is able to both manage the fluid and sodium balance of these patients as well as restore their diuretic response and improve their cardio-renal status. The SAHARA DESERT study of alfapump DSR in decompensated heart failure patients is ongoing.

Sequana Medical is headquartered in Ghent, Belgium. For further information, please visit www.sequanamedical.com.

Important Regulatory Disclaimers

The alfapump® system is not currently approved in the United States or Canada. In the United States and Canada, the alfapump® system is currently under clinical investigation (POSEIDON Study) and is being studied in adult patients with refractory or recurrent ascites due to cirrhosis. For more information regarding the POSEIDON clinical study see www.poseidonstudy.com. The DSR® therapy is still in development and it should be noted that any statements regarding safety and efficacy arise from ongoing pre-clinical and clinical investigations which have yet to be completed. The DSR® therapy is not currently approved for clinical research in the United States or Canada. There is no link between the DSR® therapy and ongoing investigations with the alfapump® system in Europe, the United States or Canada.

Note:alfapump® is a registered trademark. DSR® and alfapump DSR® are registered trademarks in the Benelux.

Forward-looking statements

This press release may contain predictions, estimates or other information that might be considered forward-looking statements. Such forward-looking statements are not guarantees of future performance. These forward-looking statements represent the current judgment of Sequana Medical on what the future holds, and are subject to risks and uncertainties that could cause actual results to differ materially. Sequana Medical expressly disclaims any obligation or undertaking to release any updates or revisions to any forward-looking statements in this press release, except if specifically required to do so by law or regulation. You should not place undue reliance on forward-looking statements, which reflect the opinions of Sequana Medical only as of the date of this press release.

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Sequana Medical to Host a Key Opinion Leader Webinar on “The Impact of Liver Ascites on Patients and Healthcare Systems and the potential of alfapump® therapy in NASH-related ascites”

Published

on

Live webinarwith Dr.Vargas and Dr. Knuttinenon15 July 2021at 4 pm CET / 10 am ET

GHENT, Belgium, June 17, 2021 (GLOBE NEWSWIRE) — Sequana Medical NV (Euronext Brussels: SEQUA, the “Company” or “Sequana Medical”), an innovator in the treatment of diuretic-resistant fluid overload in liver disease, malignant ascites and heart failure, today announces that it will host a Key Opinion Leader (KOL) call on July 15th, 2021 from 4 pm CET / 10 am ET to 5 pm CET / 11 am ET. The KOL call will discuss the impact of recurrent and refractory liver ascites on patients and healthcare systems and the potential of alfapump therapy in NASH-related ascites.

The webinar will feature a testimonial from a patient living with refractory ascites and treated with alfapump, followed by a presentation by KOLs Hugo E. Vargas, M.D. and Grace Knuttinen, M.D., Ph.D., both of Mayo Clinic, who will discuss the impact of ascites on the patients’ quality of life and the limitations of current treatment options. They will also share their experience with the alfapump implantation and discuss its potential in the treatment paradigm for these patients. A Q&A session with the KOLs and Sequana Medical management will follow the formal presentations.

Ascites is the most common reason for hospitalisation of patients with advanced liver disease and is forecast to grow dramatically driven by NASH-related cirrhosis. Sequana Medical’s alfapump has been granted FDA breakthrough device designation for the treatment of recurrent or refractory ascites due to liver cirrhosis.

The alfapump is a fully implantable pump system that moves ascites from the peritoneal cavity into the bladder, where it is passed naturally from the body through urination. The alfapump is approved in Europe and POSEIDON, the North American pivotal study to support regulatory approval in the US and Canada is underway. Positive interim data from the POSEIDON study were reported in November 2020 with further interim data expected in Q2 2021 and primary endpoint data in Q2 2022.

The webinar will be webcasted live at https://media.rampard.com/20210715b/. To get access to the webinar a registration in advance is required. The presentation and a replay of the webinar will be available on the website of Sequana Medical shortly after the event.

For more information, please contact:

Sequana Medical
Lies Vanneste
Director Investor Relations
Tel: +32 498 05 35 79
Email: IR@sequanamedical.com

LifeSci Advisors
Guillaume van Renterghem
Tel: +41 76 735 01 31
Email: gvanrenterghem@lifesciadvisors.com

About Dr. Vargas

Hugo E. Vargas, M.D. is a Mayo Clinic Consultant in the Department of Gastroenterology and Hepatology and the Mayo Clinic Transplantation Center. His current clinical and research interests include management of cirrhosis complications, acute chronic liver disease and alcohol related liver disease. Dr. Vargas is the Medical Director for the Office of Clinical Research – Arizona and a Professor of Medicine in the Mayo Clinic Alix School of Medicine and is the Chair of the Clinical Research Subcommittee, and the Vice Chair of the Arizona Research Operations Management Team. Dr. Vargas received his M.D. from Hahnemann University Graduate School of Medicine, has authored or coauthored more than 125 peer-reviewed articles and is a Fellow of the AASLD, AGA, ACG, ASGE and ACP.

About Dr. Knuttinen

Grace Knuttinen, M.D., Ph.D. is a Mayo Clinic Consultant and Professor in the Department of Radiology. She is an interventional radiologist with Mayo Clinic in Phoenix, with clinical and research interests in hepatobiliary disease, the management of post liver transplant complications, and vascular disease. Dr. Knuttinen has more than 20 years’ experience in interventional radiology and is a member of the Leadership Academy of the Society of Interventional Radiology and an Invited ABR Board Examiner for International Radiology at the American Board of Radiology. She is the Director for the Mayo Alix School of Medicine Dual Degree program, and the Director for the Barretts ASU- Mayo Alix School of Medicine Premedical Scholars program. Dr. Knuttinen received her M.D. and Ph.D. from Northwestern University, has coauthored over 95 peer-reviewed articles and written 13 book chapters. She is a Fellow of the Society of Interventional Radiology (SIR) and is the chair of a national SIR committee and currently the principal investigator of an ongoing national prospective funded clinical trial.

About Sequana Medical

Sequana Medical is a commercial stage medical device company utilizing its proprietary alfapump® and DSR® (Direct Sodium Removal) technologies to develop innovative treatments for fluid overload in liver disease, malignant ascites and heart failure where diuretics are no longer effective. Fluid overload is a frequent complication of many large diseases including advanced liver disease driven by NASH (non-alcoholic steatohepatitis)-related cirrhosis and heart failure, with diuretic resistance being widespread. The U.S. market for the alfapump resulting from NASH-related cirrhosis is forecast to exceed €3 billion annually within the next 10-20 years. The heart failure market for DSR and the alfapump DSR® is estimated to be over €5 billion annually in the U.S. and EU5 by 2026.

The alfapump is a unique, fully implanted wireless device that automatically pumps fluid from the abdominal cavity into the bladder, where it is naturally eliminated through urination. DSR is Sequana Medical’s proprietary approach to managing sodium and fluid overload through use of a sodium-free infusate administered into the abdominal cavity.

In the U.S., the Company’s key growth market, the alfapump has been granted breakthrough device designation by the FDA for recurrent or refractory ascites due to liver cirrhosis. Interim data from the ongoing North American pivotal study (POSEIDON) showed positive outcomes against all primary endpoints of the study. This study is intended to support a future marketing application of the alfapump in the U.S. and Canada. In Europe, the alfapump is CE-marked for the management of refractory ascites due to liver cirrhosis and malignant ascites and is included in key clinical practice guidelines. Over 850 alfapump systems have been implanted to date.

Sequana Medical has combined its proven alfapump and proprietary DSR therapy, and is developing the alfapump DSR, a breakthrough approach to fluid overload due to heart failure. RED DESERT, the repeated dose alfapump DSR study in diuretic-resistant heart failure patients has demonstrated that repeated DSR therapy is able to both manage the fluid and sodium balance of these patients as well as restore their diuretic response and improve their cardio-renal status. The SAHARA DESERT study of alfapump DSR in decompensated heart failure patients is ongoing.

Sequana Medical is headquartered in Ghent, Belgium. For further information, please visit www.sequanamedical.com.

Important Regulatory Disclaimers

The alfapump® system is not currently approved in the United States or Canada. In the United States and Canada, the alfapump® system is currently under clinical investigation (POSEIDON Study) and is being studied in adult patients with refractory or recurrent ascites due to cirrhosis. For more information regarding the POSEIDON clinical study see www.poseidonstudy.com. The DSR® therapy is still in development and it should be noted that any statements regarding safety and efficacy arise from ongoing pre-clinical and clinical investigations which have yet to be completed. The DSR® therapy is not currently approved for clinical research in the United States or Canada. There is no link between the DSR® therapy and ongoing investigations with the alfapump® system in Europe, the United States or Canada.

Note:alfapump® is a registered trademark. DSR® and alfapump DSR® are registered trademarks in the Benelux.

Forward-looking statements

This press release may contain predictions, estimates or other information that might be considered forward-looking statements. Such forward-looking statements are not guarantees of future performance. These forward-looking statements represent the current judgment of Sequana Medical on what the future holds, and are subject to risks and uncertainties that could cause actual results to differ materially. Sequana Medical expressly disclaims any obligation or undertaking to release any updates or revisions to any forward-looking statements in this press release, except if specifically required to do so by law or regulation. You should not place undue reliance on forward-looking statements, which reflect the opinions of Sequana Medical only as of the date of this press release.

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Brain Scientific Enters into Merger Agreement with Piezo Motion Closing Contemplates Minimum $5 Million Capital Investment For Combined Company

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NEW YORK, June 16, 2021 (GLOBE NEWSWIRE) — via InvestorWire – Brain Scientific Inc. (OTCQB: BRSF), a neurology-focused medical device and software company, announces today that it has entered into a definitive merger agreement to acquire Piezo Motion Corp., a leading innovator of high-precision piezoelectric motion technology.

The merger, upon its closing, is expected to expand the overall market reach of both companies and ability to deliver innovative technologies to high growth markets. Both companies bring a team of scientists, engineers, and executives experienced in developing and selling disruptive technologies. They combine elements of physical and social sciences with machine learning and understanding to address commercial demands in the market.

The combined company upon closing is expected to have a suite of stand-alone products that are able to work together in a cycle of data gathering, intelligent predictions, and precise actions. Brain Scientific’s neurology products are being designed to create massive amounts of data which, in turn, can be analyzed by artificial intelligence (“AI”) programs to aid doctors and researchers to recommend correct precision treatments. In the future, these are expected to be driven by Piezo Motion’s technology. 

Piezo Motion offers a suite of precision motion solutions that allow original equipment manufacturers (“OEM”) manufacturers to develop energy efficient precision products. These solutions have applications in advancing wearable drug delivery, surgical robotics, and other industrial precision applications in high growth markets such as autonomous vehicles and aerospace. 

“We are excited for the future that the merger with Piezo Motion is expected to bring. Together, we plan to achieve rapid expansion while delivering and developing the new generation of MedTech solutions for the brain diagnostics market, including innovative products for long-term monitoring and brain e-tattoo. This combination offers a significant opportunity to be part of a company well positioned for growth. We look forward to uniting with Piezo Motion in what we expect will be an exciting new chapter ahead.” – Dr. Baruch Goldstein, Founder of Brain Scientific.

“Brain Scientific and Piezo Motion come together with breakthrough proprietary technologies addressing fast-growing multi-billion-dollar markets in medical technology, pharmaceutical research, industrial automation, biotechnology and more.” –  Hassan Kotob, CEO of Piezo Motion.

The transaction is subject to customary closing conditions, including approval by the respective shareholders of both companies, as well as the successful consummation of a minimum $5 million capital raise. The transaction is expected to close in July 2021, subject to the closing conditions. At closing, Brain Scientific will acquire 100% of Piezo Motion’s outstanding shares and, accordingly, all of its assets and liabilities, and in return Piezo Motion’s shareholders will receive such number of shares of Brain Scientific’s common stock as would equal 100% of its issued and outstanding shares immediately prior to closing on an fully-diluted, as converted basis.

As part of the merger, Boris Goldstein and Nickolay Kukekov, directors of Brain Scientific, are expected to remain on the Board, with three new appointees from Piezo Motion. Hassan Kotob, currently CEO of Piezo Motion, will assume the role of Chairman and CEO of the combined company. The combined company will initially have offices in New York, Silicon Valley, Florida, and Europe.

About Brain Scientific
Brain Scientific is a commercial-stage healthcare company with two FDA-cleared products, providing next-gen solutions to the neurology market. The Company’s smart diagnostic devices and sensors simplify administration, shorten scan time and cut costs, allowing clinicians to make rapid decisions remotely and bridge the widening gap in access to neurological care. To learn more about our corporate strategy, devices, or for investor relations, please visit: www.brainscientific.com.

About Piezo Motion
Piezo Motion is a leader in piezo motor technology with a multi-million dollar investment in research and development of affordable piezoelectric motors to meet, and exceed, the needs of today’s global markets. The company is committed to the development of innovative piezoelectric polymer actuators and electrode components that enhance their functionality in a multitude of applications. It works with startups, OEMs, research institutions, and industrial companies from around the world empowering the visionaries behind their products. Visit piezomotion.com for more information.

Forward-Looking Statements

Any statements contained in this press release that do not describe historical facts may constitute forward-looking statements. Forward-looking statements may include, without limitation, statements regarding (i) the plans and objectives of management for future operations, including plans or objectives relating to the design, development and commercialization of EEG products and services and piezo motor technology, (ii) a projection of income (including income/loss), earnings (including earnings/loss) per share, capital expenditures, dividends, capital structure or other financial items, (iii) the Company’s future financial performance, (iv) the successful closing of the transactions contemplated by the merger agreement with Piezo Motion and (v) the assumptions underlying or relating to any statement described in points (i), (ii), (iii) or (iv) above. Such forward-looking statements are not meant to predict or guarantee actual results, performance, events or circumstances and may not be realized because they are based upon the Company’s current projections, plans, objectives, beliefs, expectations, estimates and assumptions and are subject to a number of risks and uncertainties and other influences, many of which the Company has no control over. Actual results and the timing of certain events and circumstances may differ materially from those described by the forward-looking statements as a result of these risks and uncertainties. Factors that may influence or contribute to the inaccuracy of the forward-looking statements or cause actual results to differ materially from expected or desired results may include, without limitation, the Company’s inability to obtain additional financing, the significant length of time and resources associated with the development of products and related insufficient cash flows and resulting illiquidity, the Company’s inability to expand the Company’s business, significant government regulation of medical devices and the healthcare industry, lack of product diversification, volatility in the price of the Company’s raw materials, failure to satisfy the closing conditions to the merger with Piezo Motion, and the failure to implement the Company’s business plans or strategies, including as a result of the closing of the merger with Piezo Motion. Some of these and other factors are identified and described in more detail in the Company’s filings with the SEC. The Company does not undertake to update these forward-looking statements.

Corporate Communications:
InvestorBrandNetwork (IBN)
Los Angeles, California
www.InvestorBrandNetwork.com
310.299.1717 Office
Editor@InvestorBrandNetwork.com

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Source: https://www.biospace.com/article/releases/brain-scientific-enters-into-merger-agreement-with-piezo-motion-closing-contemplates-minimum-5-million-capital-investment-for-combined-company/?s=93

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