Market Overview

Axonics® Granted Six U.S. Patents and Allowed Three Additional Patents Related to its Implantable Sacral Neuromodulation Technology

Share:

Seven Additional Patents Granted in Western Europe, Japan, China, Australia and Canada

Axonics Modulation Technologies, Inc. (NASDAQ:AXNX), a medical technology company that has developed and is commercializing novel implantable Sacral Neuromodulation ("SNM") devices for the treatment of bladder and bowel dysfunction, today announced that the United States Patent and Trademark Office has issued or allowed Axonics nine U.S. utility patents in 2019, along with numerous foreign counterparts relating to its implantable sacral neuromodulation technology.

The U.S. patents range in subject matter and include coverage of the Axonics lead design, patient remote control, external trial system, wireless charging, current control stimulation, electromyography and internal system electronics. The U.S. patents are: 10,478,619; 10,406,369; 10,384,067; 10,376,704; 10,447,083; 10,449,277 and 15/719,461; 15/416,888; 15/980,642.

"The volume, subject matter diversity, and breadth of important geographies demonstrate the investment in innovation that Axonics continues to make in the miniaturized and rechargeable sacral neuromodulation technology space," said Raymond W. Cohen, Chief Executive Officer.

The Axonics patent portfolio represents technology internally developed by Axonics and technology developed under license from the Alfred Mann Foundation.

The Axonics r-SNM® System has obtained U.S. Food & Drug Administration (FDA) approval, European CE Mark approval, Health Canada approval, and Australian Therapeutic Goods Administration approval for the treatment of overactive bladder, urinary retention and fecal incontinence.

Currently, Axonics is in the initial phase of its launch in the United States following FDA approvals in September and November 2019. The Company has been marketing in select countries in Europe and Canada since the second half of 2018.

About Axonics Modulation Technologies, Inc. and Sacral Neuromodulation

Axonics, based in Irvine, Calif., has developed and is commercializing novel implantable SNM devices for patients with urinary and bowel dysfunction. These conditions are caused by a miscommunication between the bladder and the brain and significantly impacts quality of life. Overactive bladder affects an estimated 87 million adults in the U.S. and Europe. Another estimated 40 million adults are reported to suffer from fecal incontinence/accidental bowel leakage. SNM therapy has been employed to reduce symptoms and restore pelvic floor function for the past two decades. Reimbursement coverage is well established in the U.S. and Europe. The Axonics System is the first rechargeable SNM system approved for sale in the world, and the first to gain full-body MRI conditional labeling. For more information, visit the Company's website at www.axonics.com.

Forward-Looking Statements

Statements made in this press release that relate to future plans, events, prospects or performance are forward-looking statements as defined under the Private Securities Litigation Reform Act of 1995. Words such as "planned," "expects," "believes," "anticipates," "designed," and similar words are intended to identify forward-looking statements. While these forward-looking statements are based on the current expectations and beliefs of management, such forward-looking statements are subject to a number of risks, uncertainties, assumptions and other factors that could cause actual results to differ materially from the expectations expressed in this press release, including the risks and uncertainties disclosed in Axonics filings with the Securities and Exchange Commission, all of which are available online at www.sec.gov. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. Except as required by law, Axonics undertakes no obligation to update or revise any forward-looking statements to reflect new information, changed circumstances or unanticipated events.

View Comments and Join the Discussion!
 
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Daily Analyst Rating
A summary of each day’s top rating changes from sell-side analysts on the street.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com