Misonix expands high intensity focused ultrasound business to Spain
30 October 2006
Farmingdale, N.Y., USA. Misonix, Inc. (Nasdaq: MSON)
has expanded its European high intensity focused ultrasound (HIFU) business
into Spain. The Company’s activities in Spain are supported by a partnership
agreement with IMEX Clinic Group.
The HIFU device that it supplies, the Sonablate 500 (SB500), was
developed by Focus Surgery, Inc. and is manufactured and distributed in
Europe by Misonix. In addition to applying HIFU to prostate cancer
treatment, Misonix has the right to utilize the same technology for
treatment of tissue in the kidney, liver and breast. Misonix is an investor
in Focus Surgery.
According to the Comprehensive Cancer Monitoring Program in Europe, there
are over 11,000 new cases of prostate cancer in Spain annually.
Clinic, a division of the IMEX Group, was founded in 1995 and had
substantial medical device distribution revenues in its most recent fiscal
year. The IMEX Clinic is divided into three major divisions: surgical,
instrument, and capital equipment. The IMEX Group has distribution
agreements with leading companies, including Carl Zeiss (Ioltech), Intralase
and Allegiance (Cardinal Healthcare). IMEX has partnered with Misonix, Ltd.,
Misonix’s wholly-owned European subsidiary, and will serve Misonix as the
commercial arm within Spain offering both fee-for-use and capital sales.
The partnership is intended to increase the SB500 share of an important
continental European market in Spain as Misonix has done with other partners
and through UKHIFU in other European countries.
Integral to the success to
date for Misonix and the SB500 in Europe is the results of a previously
announced study on Misonix’s Visually Directed HIFU. This study reported
that 84% of patients were able to achieve success as measured by PSA nadir
levels dropping to 0.2ng/ml or less after treatment. This measurement for
success using the SB500 has not been achieved by previous published HIFU
techniques; these PSA nadirs are typically associated with a surgical
Commenting on the HIFU entry into Spain, Michael A. McManus,
Jr., President and Chief Executive Officer of Misonix, said, “We are excited
about the agreement with the IMEX Group and look forward to seeing our share
in Spain replicate our current and growing share across Europe. IMEX, with
its extensive network of contacts in Spanish healthcare facilities, is well
positioned to assist Misonix in achieving its goal of offering the market a
different kind of HIFU that is visually directed. Visually Directed HIFU
involves a surgeon-controlled operation so that each patient is treated
individually for their specific condition.”
“We are proud to work with
Misonix in bringing Visually Directed HIFU using the Sonablate 500 to the
Spanish market. We intend to aggressively present the Misonix’s Visually
Directed HIFU to our customer and medical community constituencies,” said
Jose-Maria Reiz, Managing Director of IMEX Clinic Group.