WALTHAM, Mass.
NeuroMetrix, Inc. (Nasdaq: NURO), a medical device company focused on the treatment and management of the neurological complications of diabetes, announced that it had entered into an agreement with Omron Medical Devices, a subsidiary of Omron Healthcare China, to be the exclusive distributor for NC-stat® DPNCheck® in China. Earlier this year NeuroMetrix and Omron Healthcare Co. Ltd. announced a partnership for the exclusive distribution of NC-stat DPNCheck in Japan.
NC-stat DPNCheck is a rapid, accurate and quantitative point-of-care test for early detection of diabetic peripheral neuropathy (DPN), which affects over half of people with diabetes. DPN causes significant morbidity including pain, increased risk of falling in the elderly, and is the primary trigger for diabetic foot ulcers which may require lower extremity amputations.
According to a recently published study in the Journal of the American Medical Association (JAMA), the prevalence of diabetes in the Chinese population has risen dramatically over the past decades to 11.6% today. The International Diabetes Federation (IDF) estimated in 2012 that over ninety-two million people in China had diabetes. This represents nearly 25% of the IDF estimated worldwide population of 371 million people with diabetes. The president of the IDF has described diabetes in China as a “catastrophe”.
Omron Healthcare China is a leading manufacturer and distributor of medical screening and wellness products. Omron’s market-leading products include home blood pressure monitors, fitness tools, such as pedometers and heart rate monitors, and electrotherapy devices. It provides devices and services focused on lifestyle diseases such as hypertension, diabetes and other chronic diseases. Omron Healthcare China has the leading market share of vascular screening devices (VP-1000 plus) in China. The VP-1000 plus measures the blood flow in the peripheral arteries which is often a concern among patients with DPN. In addition to Omron’s dominant presence in the vascular screening market in China, Omron Healthcare China distributes numerous diabetes-related screening products. Omron’s product portfolio is synergistic with NC-stat DPNCheck. Its distribution channel includes both the direct sales force of Omron Medical Devices and a broad local distributor network. Omron Healthcare is well positioned to launch the NC-stat DPNCheck in China and provide medical professionals focused on diabetes the tools they need to screen and diagnose DPN.
“Recent studies of diabetes in China highlight the dramatic need for innovative and proven technology such as the NC-stat DPNCheck to address the neuropathic complications of this disease,” said Hiroto Iwasa, Chairman of Omron Healthcare China. “Our ongoing work in Japan preparing for the imminent NC-stat DPNCheck launch there has reinforced our positive assessment of the technology and its suitability for the China market.”
“Omron has a strong and growing presence in China to compliment its global reach,” said Shai N. Gozani M.D., Ph.D., President and Chief Executive Officer of NeuroMetrix. “We are building an effective working relationship with Omron as we navigate the Japan regulatory process and prepare for commercial launch. We are pleased to join with Omron in bringing NC-stat DPNCheck to the large Chinese diabetes market.”
Orient Strategy K.K., a healthcare consulting firm based in Japan, facilitated this partnership between NeuroMetrix and Omron Healthcare China.
About Omron Healthcare Co., Ltd.
Omron Healthcare, headquartered in Kyoto, Japan, is a global leader in health care monitoring. The company offers a wide range of devices and services that help prevent and manage lifestyle diseases such as blood pressure monitors, body composition monitors and activity counters as well as medical devices such as vascular screening devices and visceral fat monitors in more than 100 countries. For more information on Omron Healthcare, visit www.healthcare.omron.co.jp/english/.
About NeuroMetrix
NeuroMetrix is a medical device company that develops and markets home use and point-of-care devices for the treatment and management of chronic pain, peripheral neuropathies, and associated neurological disorders. The Company is presently focused on diabetic neuropathies, which affect over 50% of people with diabetes. If left untreated, diabetic neuropathies trigger foot ulcers that may require amputation and cause disabling chronic pain. The annual cost of diabetic neuropathies has been estimated at $14 billion in the United States. The company markets the SENSUS™ Pain Management System for treating chronic pain, focusing on physicians managing patients with painful diabetic neuropathy. The company also markets the DPNCheck® device, which is a rapid, accurate, and quantitative point-of-care test for diabetic neuropathy. This product is used to detect diabetic neuropathy at an early stage and to guide treatment. For more information, please visit http://www.SENSUSRx.com.
CONTACT
NeuroMetrix, Inc.
Thomas T. Higgins, 781-314-2761
SVP and
Chief Financial Officer
neurometrix.ir@neurometrix.com
