Business
American Diversified Holdings Corporation (ADHC-OTC) Revises Projected Cost To Develop Auracis (TM) Migraine Device Therapy
American Diversified Holdings Corporation (ADHC-OTC) Revises Projected Cost To Develop Auracis (TM) Migraine Device Therapy.
About this update from American Diversified Holdings Corp.
[{"type":"text","content":"DEL MAR, CA / ACCESSWIRE / October 23, 2018 / ADHC has revised its Projected Cost to Complete Auracis (Tens) Migraine Therapy. The cost of Engineering and Development to FDA Approval Over 2 year Time Frame has been reduced by $500,000 to $1.5 mm.ADHC is currently working with financial advisors to create a Private Placement Memorandum (PPM). The PPM will contain all relevant information and risk factors available to investors interested in AURACIStm. Initial valuation estimates for AURACIS have been in the $10 mm range. If this valuation holds true ADHC will retain 85 % of the AURACIStm worth an estimated $8.5 mm. The The valuation model is based upon a variety of factors including: cost of development, competitive environment, Alternative therapies or medications, market size (38 mm patients), ease of market penetration, regulatory risk and other factors.ADHC has completed a "USE OF FUNDS" projected costs analysis for the development of its migraine management therapy AURACIStm. Management has met with medical device engineering firms and have done an exhaustive analysis of the AURACISTM TENS Migraine therapy system including all the patents and patent applications in the US and abroad, patent license agreement, technical engineering schematics, FDA plans, patient study information and other related assets. Current estimates have been lowered $500k to $1.5 mm to complete all prototype development and FDA compliant market image product development clinical use. Barring any unforeseen issues management believes the $1.5 mm budget should be adequate for all proposed costs over a 24month time frame. Brazos Biomedical is currently meeting with institutional investors to devise a financing strategy to successfully bring The AURACIS product to market.Investors can find a complete overview of all the AURACIS information on the www.BrazosBiomedical.com website.As a Holding Company ADCH is uniquely suited to expand into other sectors Migraine and other chronic pain conditions are highly attractive is todays current environment.ADHC will keep shareholders informed as events progress.ADHC is a holding company that provides executive management, corporate governance, administrative support, financial advice, and introductions to capital sources to various micro-cap private and public companies that have proven revenues and busines...