Divestiture completes Micron Technology Medical’s evolution into a specialty urology-focused company preparing for U.S. regulatory approval and commercial launch of Protect PNS, its pioneering neuromodulation treatment for overactive bladder
BOCA RATON, Fla., May 20, 2021 (GLOBE NEWSWIRE) -- Micron Technology Medical, a privately-held medical device company engaged in the development, manufacture, and commercialization of innovative wireless, minimally invasive electroceutical device solutions, today announced the sale of its peripheral pain nerve stimulator franchise (Moventis PNS) to a private consortium, Pain Specialists Group Ltd.
Moventis PNS is the world’s smallest implantable, drug free peripheral pain nerve stimulator. Moventis was approved for use by the U.S. Food and Drug Administration (FDA) in late 2020 and the product has experienced strong commercial uptake during its initial launch phase.
“With the resources and focus that the Pain Specialists Group can bring to bear in the peripheral pain industry, we are confident we have identified the right team to further advance this promising therapeutic platform in the marketplace and provide additional patients access to this innovative treatment option,” said Laura Perryman, Founder of Micron Technology Medical. “Most importantly, this sale completes our evolution into a specialty urology-focused medical device company fully focused on securing FDA approval of our pioneering wireless, minimally invasive, microtechnology neurostimulator, Protect PNS, for the treatment overactive bladder, a condition that affects over 30 million Americans, and preparing for its U.S. commercial launch.”
Financial terms of the agreement were not disclosed.
Learn more about Moventis at www.moventispns.com.
About Protect PNS
Protect PNS is a wirelessly powered, minimally invasive, microtechnology neurostimulator intended to treat overactive bladder (OAB). Protect PNS is currently being studied for the treatment of OAB and is under regulatory review for market approval by the FDA.
About Overactive Bladder
OAB is a clinical condition that occurs when the bladder muscle contracts involuntarily. Symptoms may include urinary urgency (the sudden urge to urinate that is difficult to control), urgency incontinence (unintentional loss of urine immediately after an urgent need to urinate), frequent urination (usually eight or more times in 24 hours), and nocturia (waking up more than two times in the night to urinate).1
Approximately 30 million Americans suffer from symptoms of OAB, which can have a significant impairment on a patient’s day-to-day activities.1,2
About Micron Technology Medical
Micron Technology Medical is a privately held medical device company engaged in the development, manufacture, and commercialization of wirelessly powered, microtechnology neurostimulators, providing patients with convenient, safe, minimally invasive, and highly cost-effective urological solutions that are easily incorporated into their daily lives. Micron Technology ’s goal is to evolve its patented, cutting-edge platform for neuromodulation to standard of care, increasing the accessibility for patients worldwide while lowering the economic impact of urology care management. www.micronmed.com
|Gil Bao||Jeremy Feffer|
|Micron Technology Medical Corporation||LifeSci Advisors|