NaviFUS receives first overseas order for pre-clinical research FUS device
NaviFUS – a subsidiary of Genovate Biotech – announced that it recently made its first overseas sale with its FUS System for Pre-Clinical Research. While the NaviFUS System is currently still in the process of acquiring pre-market approval, a modified version strictly for research purposes can be sold to academic and medical institutions, providing an alternative source of income to NaviFUS. Although it currently faces logistical delays and complications due to Covid-19, NaviFUS hopes to complete the delivery by the end of the year. On another note, NaviFUS’ other commercial product, NAVIRFA®, is expected to acquire U.S. 510k premarket notification and medical device Class II license in Taiwan in the 2nd half of the year.
CEO Arthur Lung states that Focused Ultrasound is continuing to be more accepted in the medical community and is fulfilling its potential as a next-generation non-invasive medical technology. Last week, Chang Gung Memorial Hospital reported on its clinical trial utilizing a novel FUS treatment regimen in 6 recurrent Glioblastoma (rGBM) patients, highlighting FUS’ potential clinical applications in brain cancer. As a pioneer at the forefront of the FUS device manufacturing industry, NaviFUS has received various queries from renowned academic and medical institutions worldwide. Right now, NaviFUS can start by providing customized pre-clinical FUS solutions to potential customers; NaviFUS can also provide additional clinical FUS solutions in the future should customers require these services, which can include customized versions of the commercial-grade NaviFUS System once it has been approved.
Chairman Jen Chen further notes that being a global supplier of research-based FUS devices has three merits for NaviFUS: 1) it injects the company with much-needed financial resources and growth opportunities; 2) by also being a major developer of research-based FUS devices, it increases NaviFUS’ involvement in academic and medical circles while sparking the development of FUS treatments in potential indications such as Epilepsy and neurodegenerative diseases; 3) adoption of NaviFUS technology by as many researchers around the world increases NaviFUS’ brand recognition and future customer base. NaviFUS Corporation expects to list publicly on the Taipei Exchange Emerging Stock Market in the 2nd half of 2021, with the plan of IPO in the next 2 years.
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