FARMINGDALE, N.Y., June 12 /PRNewswire-FirstCall/ -- Misonix, Inc. (Nasdaq: MSON), a developer of minimally invasive ultrasonic medical device technology, which in Europe is used for the ablation of tumors and worldwide for other acute health conditions, announced today that it has purchased three patents associated with High Intensity Focused Ultrasound ("HIFU") technology from ProRhythm, Inc. The patents relate to HIFU transducer arrays method of fabrication, ultrasonic lenses, and an intrabody HIFU applicator. The purchase also includes prototypes, transducers and equipment.
Michael A. McManus, Jr., President and CEO said, "We believe the purchase of this patented technology will enable us to continue the internal development of our own HIFU transducer applications. We believe the covered technology will be useful in developing smaller transducers, which may be reusable or disposable. Additionally, we intend to develop the technology for use in a variety of tissue applications. The use of ultrasound is ideal for minimally invasive applications and the technology may provide us entry into other large and growing markets."
Mr. McManus continued, "We presently have a worldwide license from Focus Surgery, Inc., for kidney, liver and breast applications using HIFU. Our plan going forward will involve the development of our own proprietary HIFU technology. We are presently distributing the Sonablate(R)500 in Europe, which uses HIFU for the treatment of prostate cancer. In addition, we are continuing our clinical studies using HIFU for the minimally invasive treatment of kidney tumors. We believe this technology acquisition will further enhance our industry leading position in the development and use of multiple products using HIFU for the treatment of tumors."
Misonix, Inc. (Nasdaq: MSON) designs, develops, manufactures and markets therapeutic ultrasonic medical devices and laboratory equipment. Misonix's therapeutic ultrasonic platform is the basis for several innovative medical technologies. 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, risks associated with international sales and currency fluctuations, uncertainties as a result of research and development, acceptable results from clinical studies, including publication of results and patient/procedure data with varying levels of statistical relevancy, risks involved in introducing and marketing new products, potential acquisitions, consumer and industry acceptance, litigation and/or court proceedings, including the timing and monetary requirements of such activities, the timing of finding strategic partners and implementing such relationships, 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. The Company disclaims any obligation to update its forward-looking relationships.
Investor Relations Contact: Kevin McGrath Cameron Associates, Inc. 212-245-4577 Kevin@cameronassoc.com
|SOURCE Misonix, Inc.|
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