NEW YORK, January 18, 2017 /PRNewswire/ --
- Marks E-QURE's 3rd distribution agreement, following similar agreements in Israel and Argentina
- Wound care is $25 billion global market
E-QURE Corp. (OTCQB: EQUR), a leader in medical devices for the treatment of advanced wound care, announced today it signed a distribution agreement with Tech - Médica Equipos Médicos S.A.S. (TeckMedica) in Colombia for the Company's patented Bio-electrical Signal Therapy device ("BST Device"), a breakthrough novel electrotherapy for the non-invasive treatment of hard-to-heal chronic wounds.
This distribution agreement in Colombia is part of E-QURE's worldwide launch of its BST Device, serving the $25 billion global wound care market. E-QURE previously singed distribution agreements in Argentina and Israel, where marketing clearance is expected soon.
E-QURE granted TeckMedica the exclusive rights to distribute its BST device and accompanying disposable electrodes for the treatment of chronic wounds. The 5-year agreement includes increasing minimum annual sales quotas. TeckMedica will make an initial advance payment to E-QURE which will be applied against the first year's quota, in addition to placing an initial agreed minimum order upon receiving local marketing approval in Colombia.
E-QURE will provide TeckMedica with supplies of the BST Device and disposable electrodes for treatment of patients in hospitals, long-term care facilities, medical centers and out-patient clinics. TeckMedica is responsible for securing any product certification, permit, license or approval that may be required for marketing, sales, sublicensing and treatment in Colombia.
"We intend to build revenues through sales of the BST in Colombia, Argentina, and Israel where we now have distribution agreements, as well as a few other countries we are now targeting, while we pursue regulatory approval in the United States, the largest market in the world for wound care," sated Ron Weissberg, Chairman of E-QURE Corp.
E-QURE Corp (OTCQB: EQUR) is a leader in medical devices for the treatment of advanced wound care. E-QURE's breakthrough patented Bioelectrical Signal Therapy (BST) Device is the only method in the world to non-invasively close and heal chronic wounds and ulcers. Current methods of chronic wound treatment at best treat or reduce the wound, but none consistently heal or cure it. The BST Device not only cures wounds, it does so faster, at lower cost, and with more convenience to the patient and the healthcare system. The BST Device has received regulatory approval in Europe, and is expected to launch in Q1 - Q3 2017 in Argentina and Israel, where approvals are pending. E-QURE plans to begin its pivotal U.S. FDA trial in the first quarter of 2017. The Company's pipeline includes additional proprietary wound care products in development.
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, E-QURE Corp. 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