Brisbane, Australia (ABN Newswire) - Oventus Medical Ltd (ASX:OVN) is pleased to announce it has entered into a manufacturing agreement with Hong Kong based Modern Dental Group. Modern Dental have extensive expertise in the manufacture of dental appliances and hold the required quality management certifications for medical device manufacture. They are registered as a contract manufacturer with the FDA for the US market.

Key Points:

- Oventus and Modern Dental have executed a manufacturing agreement for Modern Dental to co-manufacture the current O2Vent range of products.

- Modern Dental Group is listed on the Hong Kong Stock exchange and is the world's leading dental prosthetics device provider.

- Oventus will focus on designing and 3D printing of the Oventus proprietary airway component before sending to Modern Dental to complete the appliance utilising traditional dental laboratory manufacturing methods.

- Allows Oventus to more rapidly scale-up manufacturing when required and at lower cost.

The manufacturing agreement executed between Oventus and Modern Dental relates to Oventus' proprietary O2Vent products that are indicated for use during sleep to aid in the treatment of snoring and obstructive sleep apnoea (OSA). The agreement between the two parties is non-exclusive and includes set pricing for the applicable manufacturing steps. Oventus will continue to design and 3D print the Oventus proprietary airway components.

Mr Alwin Ngai, Chief Operating Officer of Modern Dental said: "We believe the collaboration with Oventus is of significant benefit to both parties. We can manufacture these types of oral appliances in large volumes and therefore anticipate to be able to meet future demand. We look forward to a long and mutually beneficial relationship."

Oventus Managing Director and Chief Executive Officer, Neil Anderson said: "We are very pleased to have entered into a manufacturing agreement with Modern Dental. The agreement allows us to focus on the manufacture of our unique differentiating feature - the Oventus Airway Technology that distinguishes us from all other appliances in the market. ."

He added: "Our strategy is to commercialise a range of oral appliances with our proprietary airway design that have the various lower jaw advancement mechanisms. To date this includes three custom made appliances. Modern Dental will be able to manufacture the volumes required to meet the future demand for our products and at relatively short notice."

The manufacturing agreement starts immediately and will initially be for relatively small volumes for the Australian market before starting to manufacture for the US market later in 2017.



About Oventus Medical Ltd:

Oventus Medical Ltd (ASX:OVN) is a Brisbane based medical device company that is commercialising a suite of oral appliances for the treatment of sleep apnoea and snoring. Unlike other oral appliances, the Oventus devices have a unique and patented airway within the device that delivers air to the back of the mouth whilst alleviating multiple sites of obstruction including the nose, soft palate and tongue. They are particularly designed for the many people that have nasal obstructions and consequently tend to mainly breathe through their mouth. While it may seem counterintuitive, the device actually prevents oral breathing. The O2VentTM T is designed to allow nasal breathing when the nose is unobstructed, but when obstruction is present; breathing is supplemented via the airways in the appliance.

According to a report published by the Sleep Health Foundation Australia, an estimated 1.5 million Australians suffer with sleep disorders and more than half of these suffer with obstructive sleep apnea. Continuous positive airway pressure (CPAP) is the most definitive medical therapy for obstructive sleep apnoea, OSA, however many patients have difficulty tolerating CPAP. Oral appliances have emerged as an alternative to CPAP for obstructive sleep apnoea treatment.



Source:

Oventus Medical Ltd



Contact:

Mr Neil Anderson
Managing Director and CEO: 
M: 0403 003 475

Kyahn Williamson
WE Buchan: 
P: 03 9866 4722 or kwilliamson@buchanwe.com.au