NORTHVALE, N.J., Oct. 3, 2017 /PRNewswire/ -- ADM Tronics Unlimited, Inc. (OTCQB - ADMT) is in the final stage of developing the Alvio™ device, a new technology it has had under development pursuant to its previously announced agreement with QOL Devices, Inc. ("QOL"). Alvio is a respiratory therapy and training platform targeted for use in non-regulated respiratory training applications as well as for medical respiratory indications.
Over 80 million people in the US and over 1 billion people worldwide suffer with respiratory challenges such as COPD (chronic obstructive pulmonary disease), CHF (congestive heart failure), and asthma. These patients require special breathing monitoring, training, and therapeutic devices in the hospital and at home. The Alvio device can serve as an enabler to lower costs and improve patient outcomes across the continuum of care in the hospital and at home.
"It is exciting to see the Alvio approaching commercialization," stated Bez Arkush, founder and President of QOL. "We have already had significant interest from many major medical institutions, healthcare professionals and international distributors for the Alvio, so it is great to see it now taking shape. I am pleased to be working with ADMT which has the development, regulatory expertise and experience to bring this breakthrough technology to market." ADMT is the exclusive manufacturer of Alvio technology.
QOL and ADMT plan to first introduce the non-regulated version of Alvio for sale to the public for breathing training, while preparing submission to FDA for clearance of Alvio for medical applications in the US market and for CE marking for Europe and Canadian CMDCAS.
"We believe the Alvio platform is positioned to disrupt the $5+ billion US and the $6+ billion international respiratory therapy markets. Alvio is the world's only fully integrated respiratory therapy platform, mobile connected, respiratory sensor and trainer that can redefine respiratory therapy and training markets," continued Mr. Arkush.
"Alvio can provide an end-to-end solution for lung function testing, respiratory training, and data tracking, utilizing an interactive connection among patients, their caregivers, health care providers, and payers. Alvio employs games and activities to incentivize patients, especially children, to complete respiratory therapy, overcoming chronic non-compliance issues. The Alvio platform can solve a major challenge in the healthcare market by offering the next generation of a combination of data and device connectivity - it's Respiratory Therapy 2.0™."
Andre' DiMino, President and CEO of ADMT stated, "The upcoming release of Alvio is the first of our new line of digital medical device technologies in our development pipeline. We believe the success of any one of our new proprietary medical device technologies could be a gamechanger for the company with the potential to become the standard of care for the medical applications they address."
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: Proprietary Medical Devices; Medical Device Design, Engineering, Regulatory and Manufacturing Services; and Eco-Friendly, Water-Based Formulations. The Company's headquarters, laboratories, FDA-Registered medical device and manufacturing operations are in Northvale, NJ. 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 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 SEC filings, news releases and other communications. The Company assumes no obligation to update information contained in this news release.
SOURCE ADM Tronics Unlimited, Inc.