Eden Prairie, MN– July 22, 2020– NeuroOne Medical Technologies Corporation (OTCQB: NMTC), a medical technology company focused on improving surgical care options and outcomes for patients suffering from neurological disorders, today announces
the execution of an Exclusive Development and Distribution Agreement with Zimmer Biomet. Under the terms of the agreement, Zimmer Biomet will acquire exclusive global rights to distribute NeuroOne’s Evo™ (Evo) patented electrode technology.
This partnership is expected to provide an upfront payment to NeuroOne and may provide back-end milestone payments to NeuroOne if certain milestones are met.
Evo cortical electrodes, intended for recording, monitoring and stimulating brain tissue for up to 30 days, have the potential to change the landscape of neurosurgical procedures. The technology, utilizing sophisticated automated manufacturing processes, offers a thin-film lightweight design, high resolution capabilities, reduced immunological response—as demonstrated in pre-clinical studies—and the potential to be placed in a minimally invasive manner. The Evo electrode product line is expected to be complementary to Zimmer Biomet’s ROSA One platform.
Dave Rosa, president and CEO, NeuroOne, says, “We are extremely proud to partner with Zimmer Biomet, one of the world’s most highly respected medical device manufacturers and a worldwide leader in robotic technology used for a variety of orthopedic and minimally invasive neurosurgical procedures. I believe this collaborative partnership will allow us to more quickly and efficiently penetrate the market while focusing our resources on the pursuit of additional applications of our technology. Despite the current challenges with the COVID-19 pandemic, we
are confident that our suppliers will be able to meet our initial launch order requests so that we can initiate commercialization efforts.”
About NeuroOne NeuroOne Medical Technologies Corporation is a developmental stage company committed to providing minimally invasive and hi-definition solutions for EEG recording, brain stimulation and ablation solutions for patients suffering from epilepsy, Parkinson’s disease, essential tremors and other related neurological disorders that may improve patient outcomes and reduce procedural costs. For more information, visit https://www.n1mtc.com.
Forward Looking Statements This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Except for statements of historical fact, any information contained in this presentation may be a forward‐looking statement that reflects NeuroOne’s current views about future events and are subject to known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance or achievements to be materially different from the information expressed or implied by these forward-looking statements. In some cases, you can identify forward‐looking statements by the words “may,” “might,” “will,” “could,” “would,” “should,” “expect,” “intend,” “plan,” “objective,” “anticipate,” “believe,” “estimate,” “predict,” “project,” “potential,” “target,” “seek,” “contemplate,” “continue” and “ongoing,” or the negative of these terms, or other comparable terminology intended to identify statements about the future. Forward‐looking statements may include statements regarding NeuroOne’s potential receipt of payments pursuant to the Zimmer Biomet partnership, the timing and extent of commercialization of the technology, the ability of suppliers and third parties to manufacture the product, business strategy, market size, potential growth opportunities, plans for product applications and product development, future operations, future efficiencies, and other financial and operating information. Although NeuroOne believes that we have a reasonable basis for each forward-looking statement, we caution you that these statements are based on a combination of facts and factors currently known by us and our expectations of the future, about which we cannot be certain. Our actual future results may be materially different from what we expect due to factors largely outside our control, including risks that the partnership with Zimmer Biomet may not facilitate the commercialization or market acceptance of our technology; risks that conditions to the milestone payments pursuant to the Zimmer
Biomet partnership may not be met; risks that our suppliers and other third parties may not be able to meet initial launch order requests in a timely manner or at all; risks that our technology will not perform as expected based on results of our pre-clinical and clinical trials, our ability to raise additional funds, uncertainties inherent in the development process of our technology, changes in regulatory requirements or decisions of regulatory authorities, the size and growth potential of the markets for our technology, clinical trial patient enrollment, the results of clinical trials, our ability to protect our intellectual property rights and other risks, uncertainties and assumptions, including those described under the heading “Risk Factors” in our filings with the Securities and Exchange Commission. These forward‐looking statements speak only as of the date of this press release and NeuroOne undertakes no obligation to revise or update any forward‐looking statements for any reason, even if new information becomes available in the future.
Media:
Nicole Dufour
CPR Communications
[email protected]
201.641.1911 x 54
Investor Relations Contact:
Leah Noaeill
Sr. Director of Marketing NeuroOne Medical Technologies Corporation
[email protected]
“Caution: Federal law restricts this device to sale by or on the order of a physician”
SOURCE: NeuroOne Medical Technologies Corporation
Walgreens plans to open up to 700 primary care clinics as part of $1B investment in VillageMD
Fiercehealthcare.com – Walgreens is expanding its reach into primary care with plans to open 500 to 700 clinics in the next five years.
It’s part of the drugstore giant’s partnership with VillageMD, a national provider of primary care based in Chicago.
To view the original article in its entirety, click here.
Appeals court upholds Trump administration’s expansion of short-term health plans
By Tami Luhby
Cnn.com – The US District Court of Appeals for the District of Columbia on Friday upheld the Trump administration’s expansion of controversial short-term health plans, many of which are being sold as a less expensive alternative to Obamacare policies.
The lawsuit, brought by a coalition of nonprofit insurers that sell plans on the Affordable Care Act exchanges and by patient assistance groups, centers on the administration extending the duration of short-term plans to just under one year, instead of three months.
To view the original article in its entirety, click here.
HHS’ site-neutral pay cuts are legal, appeals court rules
By Ayla Ellison
Beckershospitalreview.com – A panel of appellate judges on July 17 overturned a lower court ruling and held that a HHS’ site-neutral payment policy that cuts Medicare payments for hospital outpatient visits can go forward.
Under the 2019 Medicare Outpatient Prospective Payment System final rule, CMS made payments for clinic visits site-neutral by reducing the payment rate for evaluation and management services provided at off-campus provider-based departments by 60 percent.
To view the original article in its entirety, click here.
Employers give insurers a middling grade on push to greater value: Leapfrog survey
Fiercehealthcare.com – Employers give health plans a middling grade in how effectively they’re directing employees to high-value care, a new survey from Leapfrog Group shows.
Leapfrog analysts surveyed 174 employers nationally that represent 4 million covered lives and found that they on average give their employer a 2.57 grade point average, or a C-plus, on driving greater value for employees.
To view the original article in its entirety, click here.
HCAA Appoints 2020-2021 Board of Directors
ST. LOUIS – The Health Care Administrators Association (HCAA), a leader in education, networking, resources and advocacy for the self-funding industry, today announced its new Board of Directors and Officers serving for the 2020-2021 term. This group of executives will lead the association in its efforts to extend awareness of self-funding initiatives, promote educational forums, engage and grow membership levels, and direct advocacy efforts.
HCAA Officers
- HCAA President: Carolyn Jarschkeof QVI Risk Solutions, Inc.
- HCAA Vice President: Ernie Clevenger of CareHere, LLC and MyHealthGuide LLC
- HCAA Treasurer: Kirti Mutatkar of UnitedAg
- HCAA Immediate Past President: Joanie Verinder, CSFS, HIPAAP of Group & Pension Administrators, Inc.
HCAA Board of Directors
- Matthew Burghardt of Lockton Companies, LLC
- Tim Callender of The Phia Group, LLC
- Tom Cardwell of Leading Edge Administrators Inc.
- Mike Clayton of Virtual Benefits Administrator
- Jim Farley of J. P. Farley Corporation
- Julie Mueller of Custom Design Benefits
- Caryn Rasnick of 90 Degree Benefits
- Jim Stanis of J. J. Stanis and Company, Inc.
HCAA Past President’s Liaison (Advisory to the Board)
- Steve Rasnick of Self Insured Plans LLC
“I’m thrilled to welcome this impressive group of industry visionaries to lead our association at a time when the healthcare ecosystem continues to experience a fundamental shift in how we think about, administer and fund care,” said HCAA Chief Executive Officer Carol Berry, CSFS. “We value the role that each of these new board members will play in guiding our association, and I look forward to seeing the impact they will make as we strive towards bringing education and advocacy to all of our self-funded members and their organizations during these changing times.”
About HCAA
The Health Care Administrators Association is the nation’s most prominent nonprofit trade association supporting the education, networking, resource and advocacy needs of health benefit administrators (TPAs), stop loss insurance carriers, managing general underwriters, audit firms, medical managers, technology organizations, pharmacy benefit managers, brokers/agents, human resource managers, plan sponsors and health care consultants. For over 40 years, HCAA has taken a leadership role in transforming the self-funding industry, and increasing the importance of self-funding as an important alternative in the health care delivery systems of our country. Visit www.hcaa.org, or connect with us at @HCAAinfo, HCAA LinkedIn or HCAA YouTube.