NanoVibronix Files U.S. Patent Application for PainShield® for Delivery of Cannabinoids for Alleviation of Chronic and Acute Pain
ELMSFORD, N.Y., Sept. 29, 2020 /PRNewswire/ -- NanoVibronix, Inc., (NASDAQ: NAOV), a medical device company that produces the UroShield®, PainShield® and WoundShield® Surface Acoustic Wave (SAW) Portable Ultrasonic Therapeutic Devices, announces its recent filing of a United States patent application entitled "A Transdermal Patch of a Portable Ultrasound-Generating System for Improved Delivery of Therapeutic Agents and Associated Methods of Treatment."
According to the application, the transdermal patches are strategically infused with one or more cannabidiol (CBD) or other pharmaceutical composition(s) and incorporate the company's proprietary low-profile transducer to concomitantly deliver ultrasound energy generated by the PainShield® device. The application also covers methods of topically delivering cannabinoids, specifically CBD, for treatment or alleviation of chronic and acute pain.
Brian Murphy, CEO of NanoVibronix, stated, "The application expands on the therapeutic benefits of our existing SAW-based PainShield® technology to provide for predefined and controlled drug delivery from these patches and enhanced transdermal absorption. Depending on the specific drug composition formulated into these patches, we believe a combination of a topical drug and our Surface Acoustic Wave could offer additional and specifically tailored benefits for patients, particularly in terms of pain relief and anti-inflammatory properties. Our current focus is on the therapeutic and analgesic properties afforded by cannabinoids, and specifically CBD, as an alternative to opioids for treatment of pain."
Mr. Murphy added, "Our patent counsel, Finch Paolino, LLC, has been instrumental in aligning NanoVibronix with our entire patent process, not only in terms of ongoing innovation and in transactional matters, but also in terms of longevity and strategic life cycle management. Our expectation is for our portfolio to grow while we exploit the benefits of our platform technology."
About NanoVibronix, Inc.
NanoVibronix, Inc. (NASDAQ: NAOV) is a medical device company headquartered in Elmsford, New York, with research and development in Nesher, Israel, focused on developing medical devices utilizing its patented low intensity surface acoustic wave (SAW) technology. The proprietary technology allows for the creation of low-frequency ultrasound waves that can be utilized for a variety of medical applications, including for disruption of biofilms and bacterial colonization, as well as for pain relief. The devices can be administered at home without the assistance of medical professionals. The Company's primary products include PainShield®, UroShield® and WoundShield®, all of which are portable devices suitable for administration at home without assistance of medical professionals. Additional information about NanoVibronix is available at: www.nanovibronix.com.
Forward-looking Statements
This press release contains "forward-looking statements." Such statements may be preceded by the words "intends," "may," "will," "plans," "expects," "anticipates," "projects," "predicts," "estimates," "aims," "believes," "hopes," "potential" or similar words. Forward-looking statements are not guarantees of future performance, are based on certain assumptions and are subject to various known and unknown risks and uncertainties, many of which are beyond the Company's control, and cannot be predicted or quantified, and include, among others, statements regarding the completion of the public offering, the satisfaction of customary closing conditions related to the public offering and the intended use of net proceeds from the public offering; consequently, actual results may differ materially from those expressed or implied by such forward-looking statements. Such risks and uncertainties include, without limitation, risks and uncertainties associated with: (i) the geographic, social and economic impact of COVID-19 on the Company's ability to conduct its business and raise capital in the future when needed, (ii) market acceptance of our existing and new products or lengthy product delays in key markets; (iii) negative or unreliable clinical trial results; (iv) inability to secure regulatory approvals for the sale of our products; (v) intense competition in the medical device industry from much larger, multinational companies,; (vi) product liability claims; (vii) product malfunctions; (viii) our limited manufacturing capabilities and reliance on subcontractor assistance; (ix) insufficient or inadequate reimbursements by governmental and/or other third party payers for our products; (x) our ability to successfully obtain and maintain intellectual property protection covering our products; (xi) legislative or regulatory reform impacting the healthcare system in the U.S. or in foreign jurisdictions; (xii) our reliance on single suppliers for certain product components, (xiii) the need to raise additional capital to meet our future business requirements and obligations, given the fact that such capital may not be available, or may be costly, dilutive or difficult to obtain; (xiv) our conducting business in foreign jurisdictions exposing us to additional challenges, such as, e.g., foreign currency exchange rate fluctuations, logistical and communications challenges, the burden and cost of compliance with foreign laws, and political and/or economic instabilities in specific jurisdictions; and (xv) market and other conditions. More detailed information about the Company and the risk factors that may affect the realization of forward looking statements is set forth in the Company's filings with the Securities and Exchange Commission (SEC), including the Company's Annual Report on Form 10-K and its Quarterly Reports on Form 10-Q. Investors and security holders are urged to read these documents free of charge on the SEC's web site at: http://www.sec.gov. The Company assumes no obligation to publicly update or revise its forward-looking statements as a result of new information, future events, or otherwise, except as required by law.
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SOURCE NanoVibronix, Inc.
