NORTHVALE, N.J., June 1, 2017 /PRNewswire/ -- ADM Tronics Unlimited, Inc. (OTCQB - ADMT) announced today its subsidiary, Aurex International, Inc. ("AIC"), is taking an innovative, three-pronged approach to launching its entree into the tinnitus marketplace. Tinnitus is a hearing condition commonly known as "ringing in the ears." The American Tinnitus Association estimates there are up to 50 million tinnitus sufferers in the U.S. and some 250 million worldwide. The U.S. Center for Disease Control estimates that nearly 15% of the general public - over 45 million Americans - experience some form of tinnitus. The U.S. Veterans Health Administration ("VA") reports that tinnitus is the most prevalent combat-related disability affecting veterans, making it a high-priority healthcare issue facing the military and the VA.
At the forefront of AIC's three-pronged approach is the "Tinnitus Shield™", an innovative, patent-pending hearing protection device ADMT jointly developed with Gama Research and Development LTD, also known as Otifleks., an award-winning producer of advanced hearing protection devices. Otifleks, a Turkish-based company, specializes in research, development and manufacturing of specialized advanced hearing protection devices which have had distribution in certain countries in Europe, particularly to the military and for multiple other applications. The joint collaboration between ADMT and Otifleks was to develop a product specifically for the unique needs of the tinnitus marketplace.
The second prong of AIC's "go to market" strategy is to introduce to the North American markets Otifleks' line of advanced hearing protection products, which include products for individuals who suffer from transient attacks of tinnitus and other otolaryngology problems such as experienced in air travel, certain medical procedures and various noise related occupations.
And lastly, the final prong - on December 13, 2016 ADMT announced that it was re-engineering it's patented, non-invasive medical device used for the treatment and control of tinnitus, called the Aurex-3®, which was previously FDA-cleared. The new version of the device will be enhanced to state-of-the-art digital control, allowing for smartphone, tablet and cloud integration, expected to significantly improve patient usability and compliance. Additionally, the new Aurex-3® will include the ability to wirelessly monitor and forward patient progress directly to their physician.
"Our efforts in developing the Tinnitus Shield with Otifleks will be our launching point for AIC, which we believe will help maintain our record of 14 consecutive quarters of increased revenues," stated Andre' DiMino, President and CEO of ADMT.
In summary, AIC is assembling a technological product suite of hearing devices that has the potential to prevent, reduce and treat tinnitus. AIC anticipates rolling out its first product, the "Tinnitus Shield™" in the next 60 days. In preparation AIC has developed its new website. Visit www.aurex3.com.
ADMT is a diversified, technology-based developer and manufacturer of innovative technologies and products. Its core competency is its ability to conceptualize a technology, bring it through development, into manufacturing and commercialization, all in-house. ADMT has three areas of activity: Medical Device Design, Engineering, Regulatory and Manufacturing Services; Proprietary Electronic Medical Devices; and Eco-Friendly, Water-Based Formulations. ADMT's multi-disciplinary team of engineers, researchers and technologists utilize advanced technology infrastructure, such as 3-D prototyping, precision instrumentation and specialized software and peripherals, for the research, development and commercialization of diversified technologies. Additional information is available at the Company's websites - admtronics.com and concepttoquantity.com.
Except for historical information contained herein, the matters set forth in this news release are "forward looking" statements (as defined in the Private Securities Litigation Reform Act of 1995), including statements regarding future revenue growth and performance. Although ADMT believes the expectations reflected in such forward-looking statements are based upon reasonable assumptions, there can be no assurance that its expectations will be realized. Forward looking statements involve risks and uncertainties that could cause actual results to differ materially from expectations. Factors that could contribute to such differences include those described from time to time in ADMT's filings with the SEC, news releases and other communications. The Company assumes no obligation to update the information contained in this news release.
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SOURCE ADM Tronics Unlimited, Inc.