NORTHVALE, N.J., Dec. 13, 2016 /PRNewswire/ -- ADM Tronics Unlimited, Inc. (OTCQB - ADMT) announced today that its subsidiary, Aurex International Corporation ("AIC"), will spearhead the launch of a re-engineered version of ADMT's patented, FDA-cleared, proprietary medical device Aurex-3®. The new Aurex-3, will be regulated as a prescription device, used for the treatment and control of tinnitus. It will be exclusively manufactured by ADMT in its FDA-registered medical device manufacturing facility and made available for both national and international distribution.
Tinnitus is an auditory condition, described as the perception of sound in the head, when no outside sound is present. It is typically referred to as "ringing in the ears." The American Tinnitus Association estimates that there are up to 50 million tinnitus sufferers in the U.S. and some 250 million worldwide. The U.S. Centers 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.
In response to recent news reports about the prevalence of combat-related tinnitus affecting U.S. veterans, ADMT reached out and initiated discussions with prominent VA practitioners dealing with the treatment of tinnitus. "They advised us that the number of veterans afflicted with tinnitus is now growing into the millions, and is the single-most combat-related disability affecting the U.S. military today and expressed a sincere interest to continue discussions about our technology," stated Bez Arkush, President and Director of Business Development of AIC.
Heading up AIC is CEO Mark Brenner, BSc, PhD., who draws upon over five years of experience serving the tinnitus market in the UK. Brenner brings with him the vision and resources necessary to set in motion the launching and distribution of Aurex-3 throughout the U.S. and Europe. "I feel extremely privileged to be heading up the Aurex-3 project to bring relief to the millions of tinnitus sufferers worldwide. And now, with the newly elected U.S. administration's commitment to give the military the best possible medical care available, we will make a concerted effort to work closely with the VA and military."
Andre' DiMino, CEO of ADMT stated, "Aurex-3 is the first of our suite of proprietary medical device technologies we expect to be bringing to market. Each technology addresses a significant medical need with universal potential. The Aurex-3 will be made in America for Americans, as well as for the tens of millions of sufferers worldwide."
DiMino concluded, "Although, we are very excited about our recent growth in revenues and profits over the past eleven consecutive quarters, we believe the commercialization of Aurex-3 alone can eclipse our recent success."
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.