Motus GI Announces Issuance of Chinese Patent for the Pure-Vu® System
- Company successfully continues to expand global IP portfolio to support strategic pathway for Pure-Vu® System to become standard of care
FORT LAUDERDALE, Fla.--(BUSINESS WIRE)-- Motus GI Holdings, Inc., (NASDAQ: MOTS) (“Motus GI” or the "Company"), a medical technology company dedicated to improving endoscopy outcomes and experiences, announced today that the Chinese Patent Office (SIPO) has granted a patent that covers the Company’s flagship product, the Pure-Vu® System. The Pure-Vu® System is a medical device that cleanses the colon during a colonoscopy procedure to facilitate improved visualization enabling a quality exam.
“With colorectal cancer being one of the top three most commonly diagnosed cancers in the world, accounting for over 1.4 million new cases and 700,000 deaths, it is important that we bring the Pure-Vu® System to patients across the globe over the next several years,” said Mark Pomeranz, CEO of Motus GI. “We are dedicated to building a solid IP portfolio, in both the U.S. and internationally, to support our strategic positioning and protection of the Pure-Vu® System in key global markets. We believe that building our IP infrastructure now is critical to support our commercial launch and achieve our goal to establish the Pure-Vu® System as a new standard of care for inpatient colonoscopy procedures worldwide.”
The Pure-Vu® System is currently being introduced on a pilot basis in the U.S. market. The Company is planning to initiate a broader commercial launch in the U.S. and select international markets in 2019 with a focus on the inpatient, hospital-based colonoscopy market where challenges with insufficient bowel prep slow diagnosis, diminish the quality of care and add significant costs for hospitals. The Company believes the Pure-Vu® System may potentially reduce healthcare costs by reliably and predictably moving patients through the system to a successful examination.
“Reports from the World Health Organization indicated that colorectal cancer rates were rapidly rising in many Asian countries including China, Japan, Korea and Singapore, so as we look into the future we are excited about the potential in these growing markets,” concluded Mr. Pomeranz.
About the Pure-Vu® System
The Pure-Vu® System is a 510(k) U.S. Food and Drug Administration cleared medical device indicated to help facilitate the cleaning of a poorly prepared colon during the colonoscopy procedure. The device integrates with standard colonoscopes to enable cleaning during the procedure while preserving standard procedural workflow and techniques. The Pure-Vu® System has received CE mark approval in Europe.
About Motus GI
Motus GI Holdings, Inc. is a medical technology company, with subsidiaries in the U.S. and Israel, dedicated to improving endoscopy outcomes, lowering costs and enhancing patient experiences. The Company is focused on the development and commercialization of the Pure-Vu® System to improve the colonoscopy experience and assist in the early detection and prevention of colorectal cancer and other diseases of the rectum and colon. In clinical studies to date, the Pure-Vu® System significantly increased the number of patients with an adequate cleansing level, according to the Boston Bowel Preparation Scale Score, a validated assessment instrument.
This press release contains certain forward-looking statements. Forward-looking statements are based on the Company's current expectations and assumptions. The Private Securities Litigation Reform Act of 1995 provides a safe-harbor for forward-looking statements. These statements may be identified by the use of forward-looking expressions, including, but not limited to, "expect," "anticipate," "intend," "plan," "believe," "estimate," "potential," "predict," "project," "should," "would" and similar expressions and the negatives of those terms. Forward-looking statements involve risks and uncertainties, including, without limitation, risks inherent in the development and commercialization of potential products, uncertainty in the timing and results of clinical trials or regulatory approvals, maintenance of intellectual property rights or other risks discussed in the Company’s Form 10-K filed on March 28, 2018, and its other filings with the Securities and Exchange Commission. Prospective investors are cautioned not to place undue reliance on such forward-looking statements, which speak only as of the date of this presentation. The Company undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise.
Source: Motus GI Holdings, Inc.
Released May 21, 2018