Motus GI Strengthens IP Portfolio with Issuance of Japanese Patent for the Pure-Vu® System
Expansion of global IP portfolio continues to lay foundation for future growth opportunities in key markets outside the United States
FORT LAUDERDALE, Fla.--(BUSINESS WIRE)-- Motus GI Holdings, Inc., (NASDAQ: MOTS) (“Motus GI” or the "Company"), a medical technology company dedicated to improving endoscopy outcomes and experiences, announced today that the Japanese Patent Office has issued a patent covering claims related to the Company’s flagship product, the Pure-Vu® System, a medical device that cleanses the colon intra-procedurally to facilitate improved visualization during a colonoscopy procedure to enable a quality exam and has demonstrated effective cleaning in hundreds of procedures.
“The need to improve the quality, efficiency and cost-effectiveness of inpatient colonoscopy procedures is a global issue. While our immediate focus continues to be on market development and preparation for commercial launch of the Pure-Vu® System for inpatient colonoscopy in the U.S., we believe Japan is a key international market for future commercial expansion,” commented Mark Pomeranz, CEO of Motus GI. “Our goal is to make the Pure-Vu® System the standard of care for inpatient colonoscopy procedures worldwide, and we are pleased to see our global IP portfolio continue to expand rapidly.”
Motus GI is currently focused on post-approval clinical trials and pilot commercial evaluations of the Pure-Vu® System with leading U.S. hospitals in preparation for a commercial launch in the U.S. and select international markets in 2019 focused on the inpatient, hospital-based colonoscopy market where challenges with bowel prep slow diagnosis, diminish the quality of care, and add significant costs for hospitals. Challenges with bowel preparation for inpatient colonoscopy represent a significant area of unmet need that directly affects clinical outcomes and the cost of care in a market that comprises nearly 4 million annual procedures worldwide. Published studies have found that the inpatient population has high rates of insufficiently prepped colons, which can lead to significantly longer hospital stays and other additional costs. This is exemplified in a recently published study from Northwestern University Hospital System which showed an average hospital stay extension of two days and cost increase of as much as $8,000 per patient as a result of challenges associated with bowel preparation. Motus GI believes that the Pure-Vu® System may potentially reduce healthcare costs by reliably and predictably moving patients through the hospital system to a successful examination.
About the Pure-Vu® System
The Pure-Vu® System is a 510(k) U.S. Food and Drug Administration cleared medical device indicated to help facilitate the cleaning of a poorly prepared colon during the colonoscopy procedure. The device integrates with standard colonoscopes to enable cleaning during the procedure while preserving standard procedural workflow and techniques. The Pure-Vu® System has received CE mark approval in Europe. The Pure-Vu® System is currently being introduced on a pilot basis in the U.S. market, and the Company is planning to initiate a full commercial launch focused on the inpatient colonoscopy market in the U.S. and select international markets in 2019.
About Motus GI
Motus GI Holdings, Inc. is a medical technology company, with subsidiaries in the U.S. and Israel, dedicated to improving endoscopy outcomes, lowering costs and enhancing patient experiences. The Company is focused on the development and commercialization of the Pure-Vu® System to improve the colonoscopy experience and assist in the early detection and prevention of colorectal cancer and other diseases of the rectum and colon. In clinical studies to date, the Pure-Vu® System significantly increased the number of patients with an adequate cleansing level, according to the Boston Bowel Preparation Scale Score, a validated assessment instrument.
This press release contains certain forward-looking statements. Forward-looking statements are based on the Company's current expectations and assumptions. The Private Securities Litigation Reform Act of 1995 provides a safe-harbor for forward-looking statements. These statements may be identified by the use of forward-looking expressions, including, but not limited to, "expect," "anticipate," "intend," "plan," "believe," "estimate," "potential," "predict," "project," "should," "would" and similar expressions and the negatives of those terms. Prospective investors are cautioned not to place undue reliance on such forward-looking statements, which speak only as of the date of this presentation. The Company undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise. Important factors that could cause actual results to differ materially from those in the forward-looking statements are set forth in the Company's filings with the Securities and Exchange Commission.
Source: Motus GI Holdings, Inc.
Released July 30, 2018