GAITHERSBURG, Md., Aug. 26, 2015 (GLOBE NEWSWIRE) -- Nuo Therapeutics, Inc. (OTCQX:NUOT), a pioneer in biodynamic therapies, today announced several updates related to its focus on making the Company's chronic wound care solution, Aurix™, broadly available to facilities within the Department of Veterans Affairs (VA) Healthcare System.
- Aurix is now available on the Federal Supply Schedule
- Aurix to be featured in Product Showcase at 2015 PVA Summit + Expo
- Nuo bolsters VA-dedicated sales team
Aurix is Now Available on the Federal Supply Schedule
Earlier this month, the Company successfully added Aurix, under its new brand name, to the Federal Supply Schedule (FSS). While the product has been listed on the FSS contract under its former brand name, this contract modification supports the Company's continued focus on ensuring uncomplicated access for all FSS-eligible patients and purchasers, including the VA Healthcare System and Indian Health Services.
"Inclusion of Aurix by name on our FSS contract is a significant achievement as we continue to increase our commercial focus on the VA," said Dean Tozer, President and Chief Executive Officer of Nuo Therapeutics. "With 10 federal healthcare facilities already treating patients with Aurix, we have made significant progress in this market. However, we believe having Aurix specifically listed with the current brand name on the FSS will help facilitate further purchasing of the product among healthcare providers in the VA."
The modification is effective as of August 15, 2015, and is added to the Company's existing FSS contract (V797P-4001B), issued by the VA National Acquisition Center.
Aurix to be Featured in Product Showcase at 2015 PVA Summit + Expo
Additionally, Nuo Therapeutics will continue its support of the Paralyzed Veterans of America (PVA) by participating in the 5th Annual PVA Summit + Expo, to be held on September 1 – 3 in Jacksonville, FL.
The Company will host a Product Showcase, during which Peter A. Clausen, Ph.D., Chief Scientific Officer of Nuo Therapeutics, and Cesar H. Porta, M.D., Certified Wound Specialist Physician at United Regional Health Care System in Wichita Falls, TX, will review the scientific and clinical benefits of Aurix. The session will take place on Tuesday, September 1st from 12:00 to 1:00 p.m.
In addition, Nuo Therapeutics representatives will be available at booth #400 to discuss the benefits of Aurix for use in treating pressure ulcers and pressure-related wounds that often result from mobility impairment.
Now in its fifth year, the PVA Summit provides information on state-of-the-art research and emerging science that can be put to immediate use in caring for individuals with spinal cord injury/disease (SCI/D), Multiple Sclerosis (MS), Amyotrophic Lateral Sclerosis (ALS) and traumatic brain injury (TBI). Each year, attendees represent multiple disciplines from the VA as well as private healthcare institutions.
Nuo Therapeutics Bolsters VA-Dedicated Sales Team
Finally, in further support of its VA-focused commercial efforts, the Company previously announced the addition of several sales professionals dedicated to the VA market, bringing the total representative count to eight.
About Nuo Therapeutics
Nuo Therapeutics, Inc. (the "Company") is a biomedical company that pioneers leading-edge biodynamic therapies for wound care. The Company's flagship product, Aurix is a biodynamic hematogel that harnesses a patient's innate regenerative abilities for the management of a variety of wounds. For additional information please visit www.nuot.com.
About Aurix
Aurix is the first platelet and plasma therapy system to be cleared by FDA for the management of a broad range of ulcers and exuding wounds, including:
- All types (diabetic foot ulcer, venous leg ulcer, pressure ulcer, etc.),
- All morphologies (partial thickness, full thickness and complex wounds),
- All severities (tunneling, sinus tract, bone, tendon and hardware exposure).
Unlike other cellular-based treatment options, Aurix is an autologous biodynamic hematogel that is derived from a patient's own platelets and plasma. The product is used at the point-of-care to stimulate the natural wound healing process from deep within the wound bed. For additional information, please visit www.AurixSystem.com.
Safe Harbor Statement
This press release contains "forward-looking statements" pursuant to the safe harbor provisions under the Private Securities Litigation Reform Act of 1995. Forward-looking statements include, without limitation, any statement that may predict, forecast, indicate, or imply future results, performance or achievements, and may contain the words "believes", "forecasted," "projects," "is expected," "remain confident," "will", "estimate," "target," "plan," "should", "would," "is likely," "may," and/or similar expressions. The information contained in the forward-looking statements, including without limitation those about the Company's estimated revenue, product sales, product placements, gross margin, operating expenses and other income or expenses, is inherently uncertain, and the Company's actual results may differ materially from these forward-looking statements. These forward-looking statements include, without limitation, statements concerning the Company's ability to successfully launch and rebrand its wound care system in the timeframe and to the extent anticipated, product placement with the VA System, enlistment of wound care centers, the Company's ability to estimate the potential of the wound care market and to commercialize any of its rebranded products / therapies, successfully execute its Aurix sales and commercialization strategies, the Company's ability to commercialize Aurix as expected and derive financial and commercial benefits of such launch, to achieve Aurix expected reimbursement rates beyond 2015, the Company's ability to comply with the debt covenants and restrictions under its existing loan facilities including from Deerfield Management Company, L.P., the Company's ability to modify the terms of the facility agreement with Deerfield on terms that are favorable to us, the Company's ability to continue as a going concern, the Company's ability to successfully implement the realignment plan, the Company's ability, following the implementation of its realignment plan, to increase product sales and devote sufficient resources towards servicing existing customers, the Company's ability to realize expected benefits from the Arthrex licensing arrangement, the Company's ability to collect the data necessary for the grant of the unconditional coverage, the Company's ability to continue in its efforts to expand in the wound care market, and its ability to successfully negotiate with physician offices as anticipated and to realize the anticipated sales growth from such treatment. Forward-looking statements are also subject to many risks and uncertainties that could cause our actual results and the timing of certain events to differ materially from any future results expressed or implied by the forward-looking statements, including, but not limited to, risks as to whether the Company may achieve future favorable CMS determinations relating to the reimbursement rates for Aurix, the Company's ability to successfully realize sales of the Angel Technology resulting in the royalty stream to the Company, the Company's ability to expand patient populations as contemplated, its ability to provide Medicare patients with access as expected, the Company's ability to realize its expectations of favorable future dialogue with potential strategic partners, its ability to identify, proceed with and consummate strategic initiatives, its ability to successfully manage contemplated clinical trials, its ability to manage and address the capital needs, human resources, management, compliance and other challenges of a larger, more complex and integrated business enterprise, the viability and effectiveness of the Company's sales approach and overall marketing strategies, its ability to secure Medicare reimbursements at adequate levels; its ability to realize commercial success or acceptance by the medical community, the Company's ability to raise additional capital or issue additional securities and to continue as a going concern, and the Company's ability to execute on its strategy to market the Aurix System as contemplated, and other risks and uncertainties described in our filings with the U.S. Securities and Exchange Commission, including the most recent reports on Forms 10-K, 10-Q and 8-K, and any amendments thereto. Undue reliance should not be placed on forward-looking information. Nuo Therapeutics operates in a highly competitive and rapidly changing business and regulatory environment, thus new or unforeseen risks may arise. Except as is expressly required by the federal securities laws, Nuo Therapeutics undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, changed circumstances or future events or for any other reason.