October 8, 2008
NeuroMetrix Begins Shipping ADVANCE(TM) Needle Electromyography Modules
NeuroMetrix, Inc. (Nasdaq: NURO), 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 and injuries of peripheral nerves, and that provide regional anesthesia and pain control, announced today that it has started shipping Needle Electromyography (EMG) modules for its ADVANCE NCS/EMG System.
The ADVANCE EMG module interfaces seamlessly with the ADVANCE Device to provide high performance acquisition of needle electromyography signals with simultaneous graphical display and output through a 3" loudspeaker. The software provides physicians with straightforward control over data acquisition modes and a trigger for capturing of motor unit action potentials.
Eugene A. Lesser, DO, NeuroMetrix's Senior Medical Director and a board certified neurologist with fellowship training in electromyography, commented "The ADVANCE EMG module delivers excellent sound fidelity and display quality. That, combined with its small size, should lead to a warm reception by electromyographers tired of maneuvering bulky equipment."
Shai N. Gozani, MD, PhD, NeuroMetrix's President & CEO stated, "We are pleased to have completed production ramp up of our ADVANCE EMG modules. We are encouraged by the overall demand for the ADVANCE NCS/EMG System and will now be able to fulfill the EMG module backorders." Dr. Gozani continued, "We are also now distributing NeuroMetrix branded concentric EMG needles and cables manufactured by Technomed Europe. Technomed is a well established and highly regarded manufacturer of neurodiagnostic accessories and we are pleased to provide their outstanding products to our customers."
Dr. Gozani added, "The release of the EMG module for the ADVANCE System is consistent with our medical equipment sales focus on neurologists, physical medicine & rehabilitation (PM&R) physicians, and other specialists with peripheral nerve expertise. In support of this strategy, we expect to further enhance our needle electromyography software in the near future with additional innovative features."
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 and injuries of peripheral nerves, and that provide regional anesthesia and pain control. To date, our focus has been primarily on the assessment of neuropathies. Neuropathies affect the peripheral nerves and parts of the spine and are frequently caused by or associated with carpal tunnel syndrome, diabetes, sciatica, and other clinical disorders. We market systems for the performance of nerve conduction studies and needle electromyography procedures.
Our product pipeline includes a system 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 products for intra-operative peripheral nerve assessment and monitoring, and a neurostimulation based product that promotes nerve fiber regeneration for the treatment of acute nerve injuries such as those resulting from lacerations or other forms of trauma.
The statements contained in this press release include forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including, without limitation, statements regarding NeuroMetrix's or its management's expectations, hopes, beliefs, intentions or strategies regarding the future. The words "believe,""may,""will,""estimate,""continue,""anticipate,""intend,""expect,""plan,""hope" and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. The forward-looking statements contained in this press release are based on NeuroMetrix's current expectations and beliefs concerning future developments and their potential effects on it. There can be no assurance that future developments affecting NeuroMetrix will be those that NeuroMetrix has anticipated. These forward-looking statements involve a number of risks, uncertainties (some of which are beyond NeuroMetrix's control) or other assumptions that may cause actual results or performance to be materially different from those expressed or implied by these forward-looking statements. These risks and uncertainties include, but are not limited to, risks associated with: reimbursement by third party payers to the Company's customers for procedures performed using the ADVANCE System; our success in marketing the ADVANCE System; the effectiveness of the Company's or its collaborators' products compared to other medical device products; potential future publication of articles or announcement of positions by physician associations or other organizations that are unfavorable to the Company's or its collaborators' products; plus factors described under the heading "Item 1A. Risk Factors" in the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2007 or described in the Company's other public filings. Should one or more of these risks or uncertainties materialize, or should any of NeuroMetrix's assumptions prove incorrect, actual results may vary in material respects from those projected in these forward-looking statements. NeuroMetrix undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws.