Healthcare Industry News: focused ultrasound
News Release - January 10, 2007
Misonix Brings Visually Directed HIFU for Prostate Cancer to Portugal
Sonablate(R) 500 Now Available in 11 European CountriesFARMINGDALE, N.Y.--(HSMN NewsFeed)--Misonix, Inc. (NASDAQ: MSON ), a developer of ultrasonic medical device technology for the treatment of cancer and other chronic health conditions, today announced that it has further expanded its European business of Visually Directed High Intensity focused ultrasound ("HIFU") using the Sonablate® 500 for prostate cancer treatment with entry into Portugal. The Sonablate 500 ("SB500") is a medical device developed by Focus Surgery, Inc. and manufactured by Misonix. Misonix also has the exclusive European distribution rights for the product. Misonix is an investor in privately-held Focus Surgery, one of the most prominent developers of HIFU in the world.
According to the Comprehensive Cancer Monitoring Program in Europe, there are over 200,000 new cases of prostate cancer on the continent annually, creating a tremendous opportunity for Misonix. The European market is estimated to be the approximate equivalent of that in the United States, although there presently is no HIFU treatment approved for use in this country. HIFU treatment using the SB500 is an approved procedure in most European countries. Prior to the entry into Portugal, the procedure has been available in 10 European countries, and to date over 4,000 SB500 treatments have been completed worldwide.
Misonix announced today the signing of an agreement with Lisbon-based medical device distributor Sociedade Avanco, S.A. Avanco has been in business for over forty years and has attained leadership status in various medical and life science segments. Its largest business within the medical arena is in male urological cancer.
Commenting on the continued market expansion for Visually Directed HIFU using the SB500, Michael A. McManus, Jr., President and CEO of Misonix, said, "We are extremely pleased with the continued success of our European strategy. In particular, Avanco will provide us with an opportunity for widespread awareness in the Portuguese market. The SB500 is now being distributed in eleven countries from a base of only four this time last year, and we continue to consider additional expansion into other countries."
Mr. McManus continued, "We believe that the interest expressed in partnering with Misonix emanates from the positive results already being seen in other countries throughout Europe and the increasing utilization of the SB500 for prostate cancer treatment as recognition that our Visually Directed HIFU is a superior procedure and a more effective process than that of older logarithmic HIFU therapies in the market. This treatment is available through practitioners that own and operate an SB500 or, increasingly, from those who are operating on a fee-per-use basis.
Integral to the success to date for Misonix and the SB500 in Europe is the results of a previously announced study on Misonix's Visually Directed HIFU. This study reported that 84% of patients were able to achieve success as measured by PSA nadir levels dropping to 0.2ng/ml or less after treatment. This measurement for success using the SB500 has not been achieved by previous published HIFU techniques; these PSA nadirs are typically associated with a surgical approach.
About Misonix:
Misonix, Inc. (NASDAQ: MSON ) designs, develops, manufactures, and markets medical, scientific, and industrial ultrasonic equipment, laboratory safety equipment, and air pollution control products. Misonix's ultrasonic platform is the basis for several innovative medical technologies. Misonix has a minority equity position in Focus Surgery, Inc. which uses high intensity focused ultrasound technology to destroy deep-seated cancerous tissues without affecting surrounding healthy tissue. Addressing a combined market estimated to be in excess of $3 billion annually, Misonix's proprietary ultrasonic medical devices are used for wound debridement, cosmetic surgery, neurosurgery, laparoscopic surgery, and other surgical and medical applications. Additional information is available on the Company's Web site at www.misonix.com.
With the exception of historical information contained in this press release, content herein may contain "forward looking statements" that are made pursuant to the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995. These statements are based on management's current expectations and are subject to uncertainty and changes in circumstances. Investors are cautioned that forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from the statements made. These factors include general economic conditions, delays and risks associated with the performance of contracts, uncertainties as a result of research and development, potential acquisitions, consumer and industry acceptance, litigation and/or court proceedings, including the timing and monetary requirements of such activities, regulatory risks including approval of pending and/or contemplated 510(k) filings, the ability to achieve and maintain profitability in the Company's business lines, and other factors discussed in the Company's Annual Report on Form 10-K, subsequent Quarterly Reports on Form 10-Q and Current Reports on Form 8-K.
Source: Misonix
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