MONTREAL – November 15, 2022 – Soundbite Medical Solutions Inc. (SBMS), a medical device company dedicated to developing solutions for the interventional treatment of calcific occlusive peripheral and coronary arterial diseases, today announced that it has entered into an exclusive license agreement with VFLO Medical (VFLO).
Pursuant to the agreement, Soundbite has granted to VFLO an exclusive license for certain proprietary products including its SoundBite Crossing System and the Active Microcatheter System. Under the Agreement, VFLO is entitled to manufacture, develop, and commercialize the products in the Greater China region, including Mainland China, Hong Kong, Macau, and Taiwan. Soundbite is in return entitled to receive an upfront fee, subsequent milestone payments, plus royalties from sales of such products. The terms also allow cross-licensing on future improvements of the products, aligning both companies focus on innovation.
“The growing prevalence of atherosclerotic vascular disease burdened by calcium has become a serious public health problem in China. We are excited to partner with the Soundbite team and look forward to bringing the unique technology and portfolio of treatment solutions to patients in Greater China that suffer from calcified arterial disease.” Commented Dong Wu, President and CEO of VFLO.
“We are thrilled to work with VFLO to bring our revolutionary shock wave technology to patients in China, opening a key market for our company with experienced partners in VFLO. Bringing non-dilutive capital to our shareholders provides us with the opportunity to build meaningful value while serving patients in the growing Chinese market.” Said Lori Chmura, President and CEO of Soundbite.
About Soundbite Medical Solutions
Soundbite is a privately-held medical device company uniquely dedicated to developing meaningful solutions for the interventional treatment of calcific peripheral and coronary arterial diseases. Soundbite has developed and deployed a proprietary method to produce and safely deliver shock waves to calcified lesions using an array of devices to improve and transform the standard of care for treatment of patients suffering from calcified and occlusive cardiovascular disease. www.soundbitemedical.com
For information on Soundbite Medical Solutions, please contact Ashkan Haghighat, PhD ([email protected])
About VFLO Medical
VFLO is a medical device company based in China that was established in 2021 by a top tier cross-border healthcare fund and a team of prominent and experienced industry professionals to create a leading medical device platform with a focus on making innovative therapies available to Chinese patients.
Forward-Looking Statements This press release contains forward-looking statements and forward- looking information, or, collectively, forward-looking statements, within the meaning of applicable securities laws, that are based on our management’s belief and assumptions and on information currently available to our management. You can identify forward-looking statements by terms such as “may”, “will”, “should”, “could”, “would”, “outlook”, “believe”, “plan”, “envisage”, “anticipate”, “expect” and “estimate” or the negatives of these terms, or variations of them. Forward-looking statements are based upon a number of assumptions and are subject to a number of risks and uncertainties, many of which are beyond SoundBite Medical Solutions Inc.’s control that could cause actual results to differ materially from those that are disclosed in or implied by such forward-looking information. The reader is cautioned to consider these and other risks and uncertainties carefully and not to put undue reliance on forward looking statements. Forward- looking statements reflect current expectations regarding future events and speak only as of the date of this press release and represent our expectations as of that date. We undertake no obligation to update or revise the information contained in this press release, whether as a result of new information, future events or circumstances.
