DOVER, Delaware, August 3, 2015 /PRNewswire/ --
E-QURE Corp. (OTCQB: EQUR), a Delaware Corporate engaged in the commercialization of its Bio-electrical Signal Therapy device ("BST Device"), a new and novel electrotherapy for the noninvasive treatment of hard to heal chronic wounds, today announced that the Company has signed its second distribution agreement with Chemipal, an Israeli distributor specializing in medical devices, for the marketing and distribution of the BST device.
Chemipal is a 70 years old, sales, marketing and distribution company in Israel with annual sales exceeding $200M per annum. It is specializing in distribution of medical drugs, devices and health products to hospitals, pharmacies and clinics.
The distribution agreement was signed for a period of 10 years with annual minimum purchase obligation increasing up to $3M within 10 years. In addition to purchase obligations, the distribution agreement defines the commercial terms of the relationship. In principle, devices will be rented to hospitals and clinics at a small monthly monetary rate to cover service and repairs, while the distributor will sell disposable electrodes on "treatment days" basis. E-QURE and Chemipal will share revenue equally between them for days of treatment and device rentals. Marketing efforts will commence before yearend, once AMAR (Israel Marketing Approval) will be renewed.
Ron Weissberg, Chairman of E-QURE Corp., commented. "The Company estimates that there are about 12,000 wounds in Israel that are applicable for immediate treatment with the BST Device (stage 3 and stage 4 wounds). This present immediate market size exceeding $30M per annum, for advance wound treatment and cure. This is a small but lucrative market for us with the fundamentals necessary for success. We look forward to penetrating this additional market while progressing toward FDA approval for the BST Device here in the U.S."
E-QURE Corp (OTCQB: EQUR) develops, manufactures and markets the E-QURE BST (Bioelectrical Signal Therapy) Device for the treatment and cure chronic wounds such as; pressure ulcers; diabetics foot ulcers; venous stasis ulcers and; hard to heal ulcers. The E-QURE BST device had few regulatory approvals in different part of the world that is currently being renewed. The company is seeking FDA approval for the device to start marketing it in the US.
Safe Harbor Statement
This press release contains forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995 and federal securities laws. For example, we are using forward-looking statements, when we discuss the potential of E-QURE BST device to treat wounds. These forward-looking statements and their implications are based on the current expectations of the management of E-QURE only, and are subject to a number of factors and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements: changes in technology and market requirements; we may encounter delays or obstacles in launching and/or successfully completing our clinical trials; our products may not be approved by regulatory agencies; we may be unable to retain or attract key employees whose knowledge is essential to the development of our products; results of preclinical studies may not correlate with the results of human clinical trials; our patents may not be sufficient; our products may harm recipients; changes in legislation; inability to timely develop and introduce new technologies, products and applications; loss of market share and pressure on pricing resulting from competition, which could cause the actual results or performance of E-QURE to differ materially from those contemplated in such forward-looking statements. Except as otherwise required by law, ADBI undertakes no obligation to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. For a more detailed description of the risks and uncertainties affecting E-QURE, reference is made to E-QURE reports filed from time to time with the Securities and Exchange Commission.
SOURCE E-QURE Corp