Healthcare Industry News: focused ultrasound
News Release - February 16, 2007
Misonix Enlists Experienced Sonablate(R) 500 Distributor Takai Hospital Supply to Market Leading HIFU Prostate Cancer Treatment Device in Turkey, Greece and Cyprus - First Sale Reported in Turkey
European Presence Significantly Expanded with SB500 for Visually Directed HIFU Now Available in 14 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 High Intensity focused ultrasound ("HIFU") using the Sonablate® 500 ("SB500") for prostate cancer treatment through a distribution agreement with Takai Hospital Supply Co., Ltd. ("THSI") (www.thsinternational.com) to market the SB500 in Turkey, Greece and Cyprus.
The 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. THSI also is an investor in Focus Surgery and has the exclusive rights to market the SB500 in Asia, Australia, Japan and part of the middle east, where it has been successfully distributing the product since 2001, including the product's first international shipment. Based in Tokyo, Japan, THSI has over 30 years of experience as a medical device distributor and specializes in marketing, sales and delivery of specialized therapeutic urology products. THSI is effectively leveraging its knowledge of the SB500.
"We are very pleased to be working with THSI in further penetrating Europe," stated Michael A. McManus, Jr., President and CEO of Misonix. "Kazuo Takai and David Quigley of THIS have been friends for many years and we look forward to working closely together. THSI has a proven track record in marketing the SB500, with over 2,500 procedures to their credit. This experience should enable accelerated demand creation in Turkey, Greece and Cyprus as we bring to these countries a product that delivers superior prostate cancer treatment and patient recovery."
Integral to the success to date for Misonix and the SB500 in Europe is the results of a previously announced study. 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.
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. HIFU treatment using the SB500 is an approved procedure in most European countries. Prior to the entry into Turkey, Greece and Cyprus, the procedure has been available in 11 European countries, and to date over 4,000 SB500 treatments have been completed worldwide.
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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