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EX-10.1 - AMENDMENT 4 TO COLLABORATIVE RESEARCH AGREEMENT - ENDRA Life Sciences Inc. | ndra_ex101.htm |
8-K - CURRENT REPORT - ENDRA Life Sciences Inc. | ndra_8k.htm |
Exhibit 99.1
ENDRA Life
Sciences Extends GE Healthcare Collaboration Agreement for Two
Years
Supports Commercialization of
TAEUSⓇ
Product for Imaging NAFLD/NASH to
December 2023
ANN ARBOR, MI / ACCESSWIRE / December 21, 2020 /
ENDRA Life Sciences Inc.
("ENDRA") (NASDAQ: NDRA), a pioneer of
Thermo Acoustic Enhanced UltraSound (TAEUSⓇ),
today announced it has renewed its collaboration agreement with the
GE Healthcare unit of General Electric Company, extending the
agreement's term by two years to December 16,
2023.
"We are very pleased to renew our collaboration agreement with GE
Healthcare, the global leader in clinical ultrasound and ENDRA's
partner since 2016, to cap the year with another significant
achievement,” said Francois Michelon, CEO of ENDRA. "Over the
past 60 days ENDRA has deployed its first clinical systems to Rocky
Vista University and the University of Pittsburgh Medical Center,
signed a clinical evaluation agreement with a second European site
at CHU-Angers France, signed an exclusive three-year agreement with
a Vietnamese distributor for more than 40 TAEUS systems, and
received its seventh Chinese patent for TAEUS. We have remarkable
momentum as we cross the 2020 finish line and enter 2021,"
concluded Mr. Michelon.
Under the terms of the agreement, which extended the previous
12-month agreement by 24 months, GE Healthcare will continue to
support ENDRA's commercialization activities for its TAEUS
technology for use in a fatty liver application by, among other
things, facilitating introductions to GE Healthcare clinical
ultrasound customers worldwide. In return for this assistance,
ENDRA will afford GE Healthcare certain rights of first offer with
respect to manufacturing and licensing rights for the target
application.
"ENDRA's technology has the potential to bring significant new
capabilities to ultrasound and address unmet clinical needs in
point-of-care NAFLD/NASH assessment and monitoring, which aligns
with GE Healthcare's mission to increase access to high-quality,
cost-effective healthcare," said Brian McEathron, GE Healthcare's
Vice President and General Manager for General Imaging Ultrasound.
"We're excited to help bring the TAEUS fatty liver product to
market and help improve patient outcomes."
About ENDRA Life Sciences Inc.
ENDRA Life Sciences is the pioneer of Thermo Acoustic Enhanced
UltraSound (TAEUSⓇ),
a ground-breaking technology being developed to visualize tissue
like MRI, but at 1/50th
the cost and at the point of patient
care. TAEUS is designed to work in concert with the over one
million ultrasound systems in use globally today. TAEUS is
initially focused on the measurement of fat in the
liver as a means to
assess and monitor Non-Alcoholic Fatty Liver Disease (NAFLD) and
inflammation (NASH), chronic liver conditions that affect over one
billion people globally, and for which there are no practical
diagnostic tools. Beyond the liver, ENDRA is exploring several
other clinical applications of TAEUS, including visualization of
tissue temperature during energy-based surgical procedures. For
more information, please visit www.endrainc.com.
Forward-Looking
Statements
All statements in this news release that are not based on
historical fact are "forward-looking statements" within the meaning
of Section 27A of the Securities Act of 1933 and Section 21E of the
Securities Exchange Act of 1934. Forward-looking statements, which
are based on certain assumptions and describe our future plans,
strategies and expectations, can generally be identified by the use
of forward-looking terms such as "believe," "expect," "may,"
"will," "should," "could," "seek," "intend," "plan," "goal,"
"estimate," "anticipate" or other comparable terms. Examples of
forward-looking statements include, among others, estimates of the
timing of future events and achievements, such as the expectations
regarding commercializing the TAEUS device, receipt of U.S. Food
and Drug Administration regulatory approval, sales, if any, to be
made under distribution agreements, and expectations concerning
ENDRA's business strategy. Forward-looking statements involve
inherent risks and uncertainties which could cause actual results
to differ materially from those in the forward-looking statements,
as a result of various factors including, among others, our ability
to develop a commercially feasible technology; receipt of necessary
regulatory approvals; the impact of COVID-19 on our business plans;
our ability to find and maintain development partners, market
acceptance of our technology and the amount and nature of
competition in our industry; our ability to protect our
intellectual property; and the other risks and uncertainties
described in ENDRA's filings with the Securities and Exchange
Commission. The forward-looking statements made in this news
release speak only as of the date of issuance, and ENDRA assumes no
obligation to update any such forward-looking statements to reflect
actual results or changes in expectations, except as otherwise
required by law.
Company Contact:
David Wells
Chief Financial Officer
(734) 997-0464
investors@endrainc.com
www.endrainc.com
Investor Relations Contact:
Kim Sutton Golodetz
LHA Investor Relations
(212) 838-3777
kgolodetz@lhai.com
SOURCE: ENDRA Life Sciences
Inc.