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ENDRA Life Sciences Renews GE
Healthcare Collaboration Agreement
Supports Commercialization of TAEUS Liver Product Targeting
NAFLD-NASH
ANN ARBOR, MI / ACCESSWIRE / January 15, 2020 / ENDRA Life Sciences
Inc. ("ENDRA") (NASDAQ:NDRA), a pioneer of Thermo Acoustic
Enhanced UltraSound (TAEUS™), today announced it has renewed
its collaboration agreement with the GE Healthcare unit of General
Electric Company, extending the agreement's term to January
2021.
"2020
is off to an exciting start and we are pleased to renew our
collaboration agreement with GE Healthcare, the global leader in
clinical ultrasound and ENDRA's partner since 2016," said Francois
Michelon, CEO of ENDRA. "Last month we submitted the technical file
for ENDRA's CE Mark review, and we are looking forward to working
with GE Healthcare as we progress towards commercializing TAEUS in
2020."
Under
the terms of the agreement, GE Healthcare will continue to support
ENDRA's commercialization activities for its TAEUS technology for
use in a fatty liver application by, among other things,
facilitating introductions to GE Healthcare clinical ultrasound
customers. In return for this assistance, ENDRA will afford GE
Healthcare certain rights of first offer with respect to
manufacturing and licensing rights for the target application. In
addition to extending the agreement's term, the renewal modified
the terms of these rights of first offer.
"ENDRA's
technology has the potential to bring significant new capabilities
to ultrasound and address unmet clinical needs in point-of-care
NAFLD-NASH assessment and monitoring, which aligns with GE
Healthcare's mission to increase access to high-quality,
cost-effective healthcare," said Brian McEathron, GE Healthcare's
Vice President and General Manager for General Imaging Ultrasound.
"We're excited to bring the TAEUS fatty liver product to market and
help improve patient outcomes."
About ENDRA Life Sciences Inc.
ENDRA
Life Sciences is the pioneer of Thermo Acoustic Enhanced UltraSound
(TAEUS™), a ground-breaking technology that visualizes tissue
like CT or MRI, but at 50X lower cost, at
the point of patient care. TAEUS is designed to work in concert
with an estimated 365,000 cart-based, non-prenatal ultrasound
systems in global use today. TAEUS is initially focused on the
measurement of fat in the liver, as a means to assess and monitor
NAFLD and NASH, chronic liver conditions that affect over 1 billion
people globally, and for which there are no practical diagnostic
tools. Beyond the liver, ENDRA is exploring several other clinical
applications of TAEUS, including visualization of tissue
temperature during energy-based surgical
procedures. www.endrainc.com
Forward-Looking Statements
All
statements in this release that are not based on historical fact
are "forward-looking statements" within the meaning of Section 27A
of the Securities Act of 1933 and Section 21E of the Securities
Exchange Act of 1934. Forward-looking statements, which are based
on certain assumptions and describe our future plans, strategies
and expectations, can generally be identified by the use of
forward-looking terms such as "believe,""expect,""may,""will,""should,""could,""seek,""intend,""plan,""goal,""estimate,""anticipate," or other comparable terms. Examples of
forward-looking statements include, among others, statements we
make regarding the timing of the commercialization of our TAEUS
technology, the continuation of our agreement with GE Healthcare,
expectations concerning ENDRA's ability to secure regulatory
approvals; anticipated product pricing; expectations with respect
to current and future partnerships, including that with GE
Healthcare; estimates of the timing of future events and
achievements;and expectations concerning ENDRA's business strategy.
Forward-looking statements involve inherent risks and uncertainties
which could cause actual results to differ materially from those in
the forward-looking statements, as a result of various factors
including, among others, the following: our ability to develop a
commercially feasible technology; receipt of necessary regulatory
approvals; our ability to find and maintain development partners,
market acceptance of our technology, the amount and nature of
competition in our industry; our ability to protect our
intellectual property; and the other risks and uncertainties
described in ENDRA's filings with the Securities and Exchange
Commission. The forward-looking statements made in this release
speak only as of the date of this release, and ENDRA assumes no
obligation to update any such forward-looking statements to reflect
actual results or changes in expectations, except as otherwise
required by law.
