SUWANEE, GA, Feb. 06, 2020 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE – SANUWAVE Health, Inc. (OTCQB: SNWV) is excited to announce the completion of our follow on equity offering. The combined offerings have brought over $5 million of investment capital to the company between the December 2019 and January 2020 closes. The funding allows SANUWAVE a path to reach profitability later this year. The offering was led by new institutional investors.
Kevin A. Richardson II, Chairman of the Board and CEO of SANUWAVE, stated, “Completion of the funding provides the resources needed to reach profitability during the 2020 calendar year as we accelerate the roll out of the dermaPACE® Systems in the United States. Our goal is to add an additional 300 placements during 2020, leading to accelerating revenue throughout the year and achieving breakeven during the year. The institutional investors spent many hours talking to clinicians, competitors, and customers during their due diligence to gain comfort with the roll out and commercialization plan being implemented at SANUWAVE. These funds allow us to ramp up internally and continue to fill open positions and build the infrastructure necessary to achieve our ultimate goal of having a dermaPACE device placed anywhere and everywhere a wound is treated.”
About SANUWAVE Health, Inc.
SANUWAVE Health, Inc. (OTCQB:SNWV) (www.SANUWAVE.com) is a shockwave technology company initially focused on the development and commercialization of patented noninvasive, biological response activating devices for the repair and regeneration of skin, musculoskeletal tissue and vascular structures. SANUWAVE’s portfolio of regenerative medicine products and product candidates activate biologic signaling and angiogenic responses, producing new vascularization and microcirculatory improvement, which helps restore the body’s normal healing processes and regeneration. SANUWAVE applies its patented PACE® technology in wound healing, orthopedic/spine, plastic/cosmetic and cardiac conditions. Its lead product candidate for the global wound care market, dermaPACE®, is US FDA cleared for the treatment of Diabetic Foot Ulcers. The device is also CE Marked throughout Europe and has device license approval for the treatment of the skin and subcutaneous soft tissue in Canada, South Korea, Australia and New Zealand. SANUWAVE researches, designs, manufactures, markets and services its products worldwide, and believes it has demonstrated that its technology is safe and effective in stimulating healing in chronic conditions of the foot (plantar fasciitis) and the elbow (lateral epicondylitis) through its U.S. Class III PMA approved OssaTron® device, as well as stimulating bone and chronic tendonitis regeneration in the musculoskeletal environment through the utilization of its OssaTron, Evotron® and orthoPACE® devices in Europe, Asia and Asia/Pacific. In addition, there are license/partnership opportunities for SANUWAVE’s shockwave technology for non-medical uses, including energy, water, food and industrial markets.
Forward-Looking Statements
This press release may contain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, such as statements relating to financial results and plans for future business development activities, and are thus prospective. Forward-looking statements include all statements that are not statements of historical fact regarding intent, belief or current expectations of the Company, its directors or its officers. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond the Company’s ability to control. Actual results may differ materially from those projected in the forward-looking statements. Among the key risks, assumptions and factors that may affect operating results, performance and financial condition are risks associated with the regulatory approval and marketing of the Company’s product candidates and products, unproven pre-clinical and clinical development activities, regulatory oversight, the Company’s ability to manage its capital resource issues, competition, and the other factors discussed in detail in the Company’s periodic filings with the Securities and Exchange Commission. The Company undertakes no obligation to update any forward-looking statement.
For additional information about the Company, visit www.sanuwave.com.