DALLAS, May. 28, 2015 /PRNewswire-iReach/ -- nUro, Inc., a medical device development and manufacturing company creating neurostimulation solutions for neurological diseases, announced today that it is changing its name to Nuviant Medical, Inc. (“Nuviant”). The Company plans to file a Form 10 Registration Statement in the next ten (10) days with the Securities and Exchange Commission (SEC). After 60 days, Nuviant will become a fully reporting public company allowing it to publish 10K, 10Q, and 8K disclosure reports.
Nuviant also announced that the Cancer Prevention and Research Institute of Texas (CPRIT) has granted it a New Company Product Development Award to expand and enhance the utilization of its implantable device in cancer related issues of incontinence. CPRIT will provide $967,000 of the $1,450,000 project, contingent upon completion of milestones related to product development and completion of a clinical study to determine the safety and efficacy of providing Tibial nerve stimulation therapy to patients who suffer from cancer-related incontinence. Dr. Gary Lemack (University of Texas - Southwestern) will oversee the clinical study.
In addition, the Company announced the appointment of David Kaysen to the Board of Directors. Mr. Kaysen previously served as President and CEO of Uroplasty, a neurostimulation company focused on the treatment of overactive bladder and fecal incontinence. At the time Mr. Kaysen assumed the CEO role, Uroplasty generated $6.4M in revenue with virtually all operations in Europe. When he departed, Uroplasty was generating over $22 million in annual sales, largely fueled by growth in sales of the UrgentPC® neurostimulation system.
“Mr. Kaysen will be instrumental in providing leadership and strategic advice to the company as we begin to commercialize our implantable solution to overactive bladder and other incontinence related indications,” said Dr. Austin Duke, Nuviant Medical’s VP of Emerging Therapies and PI on the CPRIT Award. “As CEO of Uroplasty, [Kaysen] guided them through the introduction of the industry-leading UrgentPC product, including successful completion of clinical trials and reimbursement. His expertise in these areas will greatly strengthen our product development and commercialization roadmap.
In response to his new role on the board of Nuviant Medical, Kaysen stated, “I am a firm believer that Tibial nerve stimulation provides an effective alternative for patients and that [Nuviant Medical] has developed a comprehensive approach to therapy management that will greatly improve doctor and patient utilization. They have spent years developing a fully implantable solution that will more easily deliver a successful therapy to thousands of responders of Tibial nerve stimulation.”
About Nuviant Medical - Nuviant Medical, formerly known as nUro, Inc., arose from viable clinical programs developed internally and acquired from Medtronic. These programs were initiated at Rosellini Scientific via support from the National Institutes of Health (NIH) SBIR program. The formation of the company was finalized with the acquisition of Synaptix, a vertically integrated medical device manufacturing company with a CE Marked deep brain stimulator. This 16-channel recording and stimulation platform (SynapseTM) has been deployed in clinical studies for the treatment of movement disorders. In addition, the Company developed a wireless version of the device for use in the peripheral nervous system, most notably for the treatment of incontinence-related disorders. Nuviant Medical has now produced and tested its device conforming to Good Manufacturing Practice (GMP) in its class 10,000 clean-room. For more information on Nuviant Medical, please visit our website at www.nuviantmedical.com
Media Contact:Beth Rosellini, Nuviant Medical, Inc., 1-888-907-6876, beth@nuviantmedical.com
Photo - http://photos.prnewswire.com/prnh/20150527/218795LOGO
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SOURCE Nuviant Medical, Inc
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