NeuroMetrix,
Inc. (Nasdaq: NURO), a medical device company focused on the
treatment and management of the neurological complications of diabetes,
announced that it had entered into an agreement with Omron Medical
Devices, a subsidiary of Omron Healthcare China, to be the exclusive
distributor for NC-stat® DPNCheck® in China.
Earlier this year NeuroMetrix and Omron Healthcare Co. Ltd. announced a
partnership for the exclusive distribution of NC-stat DPNCheck in Japan.
NC-stat DPNCheck is a rapid, accurate and quantitative point-of-care
test for early detection of diabetic peripheral neuropathy (DPN), which
affects over half of people with diabetes. DPN causes significant
morbidity including pain, increased risk of falling in the elderly, and
is the primary trigger for diabetic foot ulcers which may require lower
extremity amputations.
According to a recently published study in the Journal of the American
Medical Association (JAMA), the prevalence of diabetes in the Chinese
population has risen dramatically over the past decades to 11.6% today.
The International Diabetes Federation (IDF) estimated in 2012 that over
ninety-two million people in China had diabetes. This represents nearly
25% of the IDF estimated worldwide population of 371 million people with
diabetes. The president of the IDF has described diabetes in China as a
“catastrophe”.
Omron Healthcare China is a leading manufacturer and distributor of
medical screening and wellness products. Omron’s market-leading products
include home blood pressure monitors, fitness tools, such as pedometers
and heart rate monitors, and electrotherapy devices. It provides devices
and services focused on lifestyle diseases such as hypertension,
diabetes and other chronic diseases. Omron Healthcare China has the
leading market share of vascular screening devices (VP-1000 plus) in
China. The VP-1000 plus measures the blood flow in the peripheral
arteries which is often a concern among patients with DPN. In addition
to Omron’s dominant presence in the vascular screening market in China,
Omron Healthcare China distributes numerous diabetes-related screening
products. Omron’s product portfolio is synergistic with NC-stat
DPNCheck. Its distribution channel includes both the direct sales force
of Omron Medical Devices and a broad local distributor network. Omron
Healthcare is well positioned to launch the NC-stat DPNCheck in China
and provide medical professionals focused on diabetes the tools they
need to screen and diagnose DPN.
“Recent studies of diabetes in China highlight the dramatic need for
innovative and proven technology such as the NC-stat DPNCheck to address
the neuropathic complications of this disease,” said Hiroto Iwasa,
Chairman of Omron Healthcare China. “Our ongoing work in Japan preparing
for the imminent NC-stat DPNCheck launch there has reinforced our
positive assessment of the technology and its suitability for the China
market.”
"Omron has a strong and growing presence in China to compliment its
global reach,” said Shai N. Gozani M.D., Ph.D., President and Chief
Executive Officer of NeuroMetrix. “We are building an effective working
relationship with Omron as we navigate the Japan regulatory process and
prepare for commercial launch. We are pleased to join with Omron in
bringing NC-stat DPNCheck to the large Chinese diabetes market.”
Orient Strategy K.K., a healthcare consulting firm based in Japan,
facilitated this partnership between NeuroMetrix and Omron Healthcare
China.
About Omron Healthcare Co., Ltd.
Omron Healthcare, headquartered in Kyoto, Japan, is a global leader in
health care monitoring. The company offers a wide range of devices and
services that help prevent and manage lifestyle diseases such as blood
pressure monitors, body composition monitors and activity counters as
well as medical devices such as vascular screening devices and visceral
fat monitors in more than 100 countries. For more information on Omron
Healthcare, visit www.healthcare.omron.co.jp/english/.
About NeuroMetrix
NeuroMetrix is a medical device company that develops and markets home
use and point-of-care devices for the treatment and management of
chronic pain, peripheral neuropathies, and associated neurological
disorders. The Company is presently focused on diabetic neuropathies,
which affect over 50% of people with diabetes. If left untreated,
diabetic neuropathies trigger foot ulcers that may require amputation
and cause disabling chronic pain. The annual cost of diabetic
neuropathies has been estimated at $14 billion in the United States. The
company markets the SENSUS™ Pain Management System for treating chronic
pain, focusing on physicians managing patients with painful diabetic
neuropathy. The company also markets the DPNCheck® device,
which is a rapid, accurate, and quantitative point-of-care test for
diabetic neuropathy. This product is used to detect diabetic neuropathy
at an early stage and to guide treatment. For more information, please
visit http://www.SENSUSRx.com.
Copyright Business Wire 2013