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OFFON

NANOVIBRONIX, INC.

(NAOV)
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NANOVIBRONIX : EXTENDS LINE-UP OF PAIN MANAGEMENT PRODUCTS

09/14/2021 | 08:31am EDT

Elmsford, NY, Sept. 14, 2021 (GLOBE NEWSWIRE) -- NanoVibronix, Inc., (NASDAQ: NAOV), a healthcare device company that produces the UroShield® and  PainShield® Surface Acoustic Wave (SAW) Portable Ultrasonic Therapeutic Devices, today announced it is launching a new, transdermal gel containing Nano-Cannabidiol (CBD) for the treatment of joint pain and reducing inflammation.

Brian Murphy, CEO of NanoVibronix, stated, “Adding CBD gel to our portfolio of products should materially expand our target market to augment our PainShield line of products while creating an additional stream of revenue for our business. Increasingly, CBD products have been shown to provide a short-term solution to pain resolution, coupled with the reparative, long-term mechanisms of action of PainShield. We are working with a licensed, experienced CBD manufacturer to try to bring this product to market by the first quarter 2022 with widespread availability in the U.S. expected by mid-2022. Including a CBD-based product is a natural extension of our pain management lineup, providing consumers with a complementary product for the treatment of pain caused by inflammation and other common ailments such as arthritis.  CBD will be a natural add-on to our over-the-counter PainShield product.”

PainShield CBD is a fast-drying gel with functional ingredients including nano particle-cannabidiol (CBD), with a dry feel, to not impede our PainShield transducer. CBD used in this new product will be sourced from High Purity Natural Products, LLC, an FDA-registered manufacturer of hemp and CBD products with operations in the U.S. High Purity’s CBD is manufactured in accordance with cGMP guidelines and encapsulated to increase bioavailability and deliver more therapeutic value per dose compared with non-encapsulated CBD.

About High Purity Natural Products, LLC

High Purity Natural Products, LLC was established in 2017 with a primary focus on servicing the burgeoning hemp and CBD industry. The company was the second hemp license issued in the state of Massachusetts to grow, extract and manufacture CBD products. The license remains in good standing. High Purity also maintains its registration with the U.S. Federal Drug Administration.

About NanoVibronix, Inc.

NanoVibronix, Inc. (NASDAQ: NAOV) is a medical device company headquartered in Elmsford, New York, with research and development in Nesher, Israel, focused on developing medical devices utilizing its patented low intensity surface acoustic wave (SAW) technology. The proprietary technology allows for the creation of low-frequency ultrasound waves that can be utilized for a variety of medical applications, including for disruption of biofilms and bacterial colonization, as well as for pain relief. The devices can be administered at home without the assistance of medical professionals. The Company’s primary products include PainShield® and UroShield®, which are portable devices suitable for administration at home without assistance of medical professionals. Additional information about NanoVibronix is available at: www.nanovibronix.com.

Forward-looking Statements

This press release contains “forward-looking statements.” Such statements may be preceded by the words “intends,” “may,” “will,” “plans,” “expects,” “anticipates,” “projects,” “predicts,” “estimates,” “aims,” “believes,” “hopes,” “potential” or similar words. Forward-looking statements are not guarantees of future performance, are based on certain assumptions and are subject to various known and unknown risks and uncertainties, many of which are beyond the Company’s control, and cannot be predicted or quantified; consequently, actual results may differ materially from those expressed or implied by such forward-looking statements. Such risks and uncertainties include, without limitation, risks and uncertainties associated with: (i) the geographic, social and economic impact of COVID-19 on the Company’s ability to conduct its business and raise capital in the future when needed, (ii) market acceptance of our existing and new products or lengthy product delays in key markets; (iii) negative or unreliable clinical trial results; (iv) inability to secure regulatory approvals for the sale of our products; (v) intense competition in the medical device industry from much larger, multinational companies; (vi) product liability claims; (vii) product malfunctions; (viii) our limited manufacturing capabilities and reliance on subcontractor assistance; (ix) insufficient or inadequate reimbursements by governmental and/or other third party payers for our products; (x) our ability to successfully obtain and maintain intellectual property protection covering our products; (xi) legislative or regulatory reform impacting the healthcare system in the U.S. or in foreign jurisdictions; (xii) our reliance on single suppliers for certain product components, (xiii) the need to raise additional capital to meet our future business requirements and obligations, given the fact that such capital may not be available, or may be costly, dilutive or difficult to obtain; (xiv) our conducting business in foreign jurisdictions exposing us to additional challenges, such as foreign currency exchange rate fluctuations, logistical and communications challenges, the burden and cost of compliance with foreign laws, and political and/or economic instabilities in specific jurisdictions; and (xv) market and other conditions. More detailed information about the Company and the risk factors that may affect the realization of forward looking statements is set forth in the Company’s filings with the Securities and Exchange Commission (SEC), including the Company’s Annual Report on Form 10-K and its Quarterly Reports on Form 10-Q. Investors and security holders are urged to read these documents free of charge on the SEC’s web site at: http://www.sec.gov. The Company assumes no obligation to publicly update or revise its forward-looking statements as a result of new information, future events, or otherwise, except as required by law.


Brett Maas, Managing Principal
Hayden IR, LLC
646-536-7331
brett@haydenir.com
Source: Nanovibronix Inc.

2021 GlobeNewswire, Inc., source Press Releases

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Financials (USD)
Sales 2020 0,62 M - -
Net income 2020 -4,33 M - -
Net cash 2020 7,11 M - -
P/E ratio 2020 -1,82x
Yield 2020 -
Capitalization 35,6 M 35,6 M -
EV / Sales 2019 37,8x
EV / Sales 2020 7,17x
Nbr of Employees 12
Free-Float 87,8%
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Managers and Directors
Brian M. Murphy Chief Executive Officer & Director
Stephen Russell Brown Chief Financial Officer
Christopher M. Fashek Chairman
Harold Jacob Director & Chief Medical Officer
Thomas R. Mika Independent Director
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