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Autonomix Enters into Definitive Agreement to License Intellectual Property for FDA-Cleared Ablation Technology from RF Innovations, Inc.
RF Innovations’ Apex 6 Generator aligns with specifications required for Autonomix’s ablation system and facilitates ongoing development Transaction further
About this update from Autonomix Medical, Inc.
[{"type":"text","content":"RF Innovations’ Apex 6 Generator aligns with specifications required for Autonomix’s ablation system and facilitates ongoing development Transaction further reinforces Autonomix’s FDA regulatory pathway THE WOODLANDS, TX, July 15, 2024 (GLOBE NEWSWIRE) -- Autonomix Medical, Inc. (NASDAQ: AMIX) (“Autonomix” or the “Company”), a medical device company focused on advancing innovative technologies to revolutionize how diseases involving the nervous system are diagnosed and treated, today announced it has entered into a definitive agreement with RF Innovations, Inc., a privately held medical technology company, to license the intellectual property to its Apex 6 Radiofrequency Generator. The Apex 6 Generator is an FDA-cleared ablation technology designed to lesion neural tissue for pain management in the peripheral nervous system. The transaction is expected to close before the end of July 2024. The transaction, for 250,000 shares of common stock, grants Autonomix a perpetual non-exclusive worldwide and royalty-free license of the Apex 6 Generator intellectual property. Autonomix plans to utilize the technology in its strategic therapeutic areas to drive value across its pipeline. “This transaction represents a significant step forward for the development and commercialization of our innovative technology platform and can potentially simplify our regulatory strategy, as the Apex 6 Generator is already FDA-cleared in pain management,” commented Brad Hauser, President and Chief Executive Officer of Autonomix. “I would like to commend our team for their hard work in identifying and validating this compatible radio frequency ablation generator that will be used in conjunction with our novel sensing device. Additionally, the team from RF Innovations is deeply experienced in the development and manufacturing of radio frequency generators and their assistance will be invaluable as we move our system forward towards commercialization. Together, we can work to adapt the technology for our specific use case and accelerate our journey to revolutionize how diseases involving the nervous system are diagnosed and treated.” To facilitate equipment development, activities will begin immediately with RF Innovations manufacturing partner who will be incorporated into Autonomix’s manufacturing supply chain. Autonomix is initially developing its technolo...