Newly issued patent expands TAEUS' addressable market potential beyond $21 billion NAFLD-NASH diagnostic opportunity
ANN ARBOR, MI / ACCESSWIRE / October 28, 2020 / ENDRA Life Sciences Inc. (NASDAQ:NDRA), a pioneer of Thermo Acoustic Enhanced UltraSound (TAEUS®), announces it has been issued European Patent EP 3 294 142 B1 (the '142 patent) from the European Patent Office, entitled "Systems and Methods for Imaging Biological Tissue Structures." The issuance of this patent covers indications for TAEUS beyond measuring fat in the liver, and brings ENDRA's total number of patent assets to 75 worldwide, including five in Europe.
"The granting of our fifth European patent - and third in Europe in the last month - bolsters our intellectual property protection at a key stage of commercialization," said ENDRA's Chief Executive Officer, Francois Michelon. "As a reminder, in September, we established our first clinical evaluation reference site in Germany. We expect to finalize plans for two more in Europe in the coming months, as we concurrently ramp up sales efforts in this major global market, where the TAEUS Fatty Liver Imaging Probe System received CE Mark approval for targeting Non-Alcoholic Fatty Liver Disease (NAFLD) earlier in the year."
"Moreover, this new patent expands the potential clinical applications for TAEUS beyond NAFLD-NASH to provide clinicians with, for example, point-of-care tools to visualize micro-vascular fluid flows in tissues damaged by cancer or trauma. "This goes beyond ENDRA's current addressable market in liver disease diagnostics, which according to a 2020 report by Grandview Research represents a $21 billion opportunity," added Michelon.
ENDRA's goal is to develop applications for its proprietary TAEUS technology in areas of high unmet clinical need and for which there are no practical existing tools. The '142 patent covers a system and method for imaging biological tissue structures, which defines a hybrid integrated ultrasound/thermoacoustic system and method that locates and registers the ultrasound and thermoacoustic portions of the invention, relative to each other. The '142 patent complements ENDRA's European patent EP 3 294 143 B1, which relates to a system and method that utilizes separate ultrasound/thermoacoustic systems concurrently.
ENDRA's global IP portfolio continues to grow and currently stands at 75 assets, which are defined as in preparation, filed, issued or licensed.
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, establishing evaluation reference sites and initial sales in Europe, receipt of U.S. Food and Drug Administration regulatory approval, 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.
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