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NeuroMetrix Announces Initial Sales of ADVANCE(TM) System for the Performance of Nerve Conduction Studies and Needle Electromyography Procedures to Neurologists and Other Specialists

Posted on: Wednesday, 11 June 2008, 18:00 CDT

NeuroMetrix, Inc. (Nasdaq: NURO) today announced that it recently completed the initial sales of its ADVANCE System ("ADVANCE"). The device, which recently received 510(k) clearance from the U.S. Food and Drug Administration (FDA), is a comprehensive platform for the performance of traditional nerve conduction studies and needle electromyography procedures.

"We are pleased with the initial response from neurologists, physical medicine and rehabilitation ("PM&R") physicians, and hand surgeons to the ADVANCE system," said Shai N. Gozani, MD, Ph.D., NeuroMetrix President & CEO.

Dr. Gozani continued, "We are marketing ADVANCE into these specialist markets through our direct sales force in the Unites States consisting of thirty five medical device sales professionals. Our sales organization is well trained in neurophysiology and proficient at calling on neurologists and other specialists both in their office and in the hospital. Furthermore, we believe that the technological features and clinical utility of ADVANCE, its overall cost, and the exceptional customer and technical support provided by NeuroMetrix will be attractive compared to the other equipment in this market segment."

About NeuroMetrix

NeuroMetrix is a science-based medical device company advancing patient care through the development and marketing of innovative medical device products that aid physicians in the assessment and treatment of diseases of the nervous system and neurovascular disorders, and that provide regional anesthesia and pain control. To date, our focus has been primarily on the assessment of neuropathies and neurovascular disorders. Neuropathies affect the peripheral nerves and parts of the spine and are frequently caused by or associated with carpal tunnel syndrome, diabetes, and low back and leg pain, as well as other clinical disorders. The ADVANCE System, recently cleared by the FDA for marketing in the U.S., is a system for the performance of traditional nerve conduction studies and invasive electromyography procedures.

Diabetic retinopathy is a common neurovascular complication of diabetes and the leading cause of blindness among working age adults. Through the acquisition of EyeTel Imaging, NeuroMetrix markets the DigiScope(TM), which is a retinal imaging system designed for use at the point-of-care in physician offices and vision clinics.

Our product pipeline includes the NAVIGATOR(TM) System, a device designed to precisely deliver pharmacologic agents such as anesthetics and corticosteroids in close proximity to nerves ("perineurally") for regional anesthesia, pain control and the treatment of focal neuropathies such as carpal tunnel syndrome. We are also developing a neurostimulation based product that promotes nerve fiber regeneration for the treatment of acute nerve injuries such as due to lacerations and other forms of trauma.

Source: Business Wire

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