electroCore, Inc. Announces Exclusive Distribution Agreement with Kromax For Taiwan and China
23 Junho 2021 - 9:00AM
electroCore, Inc. (Nasdaq: ECOR), a commercial-stage
bioelectronic medicine company, today announced it has entered into
an agreement with Kromax International Corporation to serve as
the exclusive distributor of the gammaCore Sapphire™ non-invasive
vagus nerve stimulator (nVNS) in Taiwan and China.
“Kromax International Corp. is dedicated to
transforming healthcare quality by introducing state-of-art medical
solutions that improve the health of patients,” commented Tim
Hwang, Kromax Group Vice Chairman. “We have been deeply involved in
the field of pain management and neuromodulation in the Taiwan,
China, and South Asia markets for many years and are honored to
cooperate with electroCore by representing their solution in these
markets, providing benefits to patients in our region suffering
from migraines.”
“We are delighted to partner with Kromax to
introduce gammaCore into Taiwan and China,” stated Iain
Strickland, electroCore’s Vice President of Global Sales and
Strategy. “Kromax and electroCore share the common goal of
utilizing proven healthcare innovations to improve the health and
lives of their patients. We look forward to collaborating with the
team at Kromax to help support the adoption of gammaCore in the
region.”
The initial term of the agreement is three
years, and it contains customary terms and conditions. Regulatory
clearances are required before sales and revenue can occur, and the
timing for any such potential clearances is uncertain at this
time.
About
Kromax
Founded in 1987, Kromax provides services
covering the semiconductor, LCD, LED, solar and biotech industries
in the Greater China area. Their business philosophy focuses on
providing comprehensive services to the customer, starting from the
early stages of research and marketing and also touching sales,
production, distribution, installation, and warranty support. Their
mission is to continually enhance the ability of our customers to
compete in the international marketplace by bringing them the
latest, most advanced technology.
For more information, visit
www.kromax.com/en-US/AboutKromax.aspx
About electroCore, Inc.
electroCore, Inc. is a commercial stage
bioelectronic medicine company dedicated to improving patient
outcomes through its platform non-invasive vagus nerve stimulation
therapy initially focused on the treatment of multiple conditions
in neurology. The company’s current indications are for the
preventative treatment of cluster headache and migraine and acute
treatment of migraine and episodic cluster headache.
For more information, visit
www.electrocore.com.
About
gammaCoreTM
gammaCoreTM (nVNS) is the first non-invasive, hand-held
medical therapy applied at the neck as an adjunctive therapy to
treat migraine and cluster headache through the utilization of a
mild electrical stimulation to the vagus nerve that passes through
the skin. Designed as a portable, easy-to-use technology, gammaCore
can be self-administered by patients, as needed, without the
potential side effects associated with commonly prescribed drugs.
When placed on a patient’s neck over the vagus nerve, gammaCore
stimulates the nerve’s afferent fibers, which may lead to a
reduction of pain in patients.
gammaCore is FDA cleared in the United States for
adjunctive use for the preventive treatment of cluster headache in
adult patients, the acute treatment of pain associated with
episodic cluster headache in adult patients, and the acute and
preventive treatment of migraine in adolescent (ages 12 and older)
and adult patients. gammaCore is CE-marked in the European
Union for the acute and/or prophylactic treatment of primary
headache (Migraine, Cluster Headache, Trigeminal Autonomic
Cephalalgias and Hemicrania Continua) and Medication Overuse
Headache in adults.
- gammaCore is contraindicated for
patients if they:
- Have an active implantable medical
device, such as pacemaker, hearing aid implant, or implanted
electronic device
- Have a metallic device such as a
stent, bone plate, or bone screw, implanted at or near the
neck
- Are using another device at the
same time (e.g., TENS Unit, muscle stimulator) or any portable
electronic device (e.g., mobile phone)
- Safety and efficacy
of gammaCore have not been evaluated in the following patients:
- Patients diagnosed
with narrowing of the arteries (carotid atherosclerosis)
- Patients who have
had surgery to cut the vagus nerve in the neck (cervical
vagotomy)
- Pediatric patients
(less than 12 years of age)
- Pregnant women
- Patients with
clinically significant hypertension, hypotension, bradycardia, or
tachycardia
Please refer to the gammaCore Instructions for
Use for all the important warnings and precautions before using or
prescribing this product.
Forward-Looking Statements
This press release and other written and oral
statements made by representatives of electroCore may contain
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. Such forward-looking
statements include, but are not limited to, statements about
electroCore's business prospects and clinical and product
development plans; its pipeline or potential markets for its
technologies; the timing, outcome and impact of regulatory,
clinical and commercial developments; the Company’s business
prospects in Taiwan, China, and other new markets and other
statements that are not historical in nature, particularly those
that utilize terminology such as "anticipates," "will," "expects,"
"believes," "intends," other words of similar meaning, derivations
of such words and the use of future dates. Actual results could
differ from those projected in any forward-looking statements due
to numerous factors. Such factors include, among others, the
ability to raise the additional funding needed to continue to
pursue electroCore’s business and product development plans, the
inherent uncertainties associated with developing new products or
technologies, the ability to commercialize gammaCore™, the
potential impact and effects of COVID-19 on the business of
electroCore, electroCore’s results of operations and financial
performance, and any measures electroCore has and may take in
response to COVID-19 and any expectations electroCore may have with
respect thereto, competition in the industry in which electroCore
operates and overall market conditions. Any forward-looking
statements are made as of the date of this press release, and
electroCore assumes no obligation to update the forward-looking
statements or to update the reasons why actual results could differ
from those projected in the forward-looking statements, except as
required by law. Investors should consult all of the information
set forth herein and should also refer to the risk factor
disclosure set forth in the reports and other documents electroCore
files with the SEC available at www.sec.gov.
Investors:
Rich Cockrell
CG Capital
404-736-3838
ecor@cg.capital
or
Media Contact:
Summer Diaz
electroCore
816-401-6333
summer.diaz@electrocore.com
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