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Share Name | Share Symbol | Market | Type |
---|---|---|---|
EDAP TMS SA | NASDAQ:EDAP | NASDAQ | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.195 | 3.91% | 5.18 | 5.13 | 5.27 | 5.2585 | 5.00 | 5.108 | 28,184 | 20:23:30 |
Marc Oczachowski, Chief Executive Officer of EDAP TMS, commented, "This partnership affords a significant market opportunity for EDAP to tap into the rapidly growing medical device market in China. We undertook extensive due diligence to identify the optimal distribution partner to address the large, dynamic and complex Chinese market. This exclusive agreement will involve a two-stage process. Initially, Shaw Han will be responsible for processing the marketing clearance application with China's State Food and Drug Administration (SFDA) for Ablatherm-HIFU for localized prostate cancer treatment. Following receipt of SFDA clearance, Shaw Han will lead the promotion, marketing, and distribution of the device in China for four years post approval. As part of the agreement, Shaw Han has committed to purchase a minimum number of Ablatherm HIFU units during the period covered by the two-stage process."
EDAP's distribution partnership with Shaw Han will officially be announced at the Asian Congress of Urology (ACU) to be held in Taiwan on August 27-28, 2010. Together with its partner, EDAP will showcase its state-of-the-art HIFU and lithotripsy technologies at the ACU.
About EDAP TMS SA
EDAP TMS SA develops and markets Ablatherm, the most advanced and clinically proven choice for high-intensity focused ultrasound (HIFU) treatment of localized prostate cancer. HIFU treatment is shown to be a minimally invasive and effective treatment option with a low occurrence of side effects. Ablatherm-HIFU is generally recommended for patients with localized prostate cancer (stages T1-T2) who are not candidates for surgery or who prefer an alternative option, or for patients who failed radiotherapy treatment. Approved in Europe as a treatment for prostate cancer, Ablatherm-HIFU (High Intensity Focused Ultrasound) is currently undergoing evaluation in a multicenter U.S. Phase II/III clinical trial under an Investigational Device Exemption granted by the FDA. The Company also is developing this technology for the potential treatment of certain other types of tumors. EDAP TMS SA also produces and commercializes medical equipment for treatment of urinary tract stones using extra-corporeal shockwave lithotripsy (ESWL). For more information on the company, please visit http://www.edap-tms.com, http://www.hifu-planet.com.
CONTACT: EDAP TMS SA Investor Relations / Legal Affairs Blandine Confort +33 4 72 15 31 72 bconfort@edap-tms.com The Ruth Group Investors: Stephanie Carrington 646-536-7017 scarrington@theruthgroup.com
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