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Medovex’s Transition to H-CYTE Underscores Biotechnology Focus
Medovex’s Transition to H-CYTE Underscores Biotechnology Focus.
About this update from Innoveren Scientific Inc.
[{"type":"text","content":"\nALPHARETTA, Ga., June 24, 2019 (GLOBE NEWSWIRE) -- Medovex Corp. (OTCQB: Symbol MDVX) (\"Medovex\" or the \"Company\"), is transitioning to its new name H-CYTE Inc. (“H-CYTE”) to underscore its focus of delivering regenerative anti-inflammatory solutions to treat the unmet needs of patients.\n Within its portfolio, the Company announced today H-CYTE will enhance its existing cytotherapy product line, developing a disruptive technology for chronic obstructive pulmonary disease (“COPD”), the fourth leading cause of death in the U.S. To accelerate this vision, a 10-year exclusive and extendable supply agreement with Rion LLC (“Rion”) has been executed that enables H-CYTE to develop proprietary biologics. Rion has established a novel technology to harness the healing power of the body. Rion’s novel exosome technology, based on science developed at Mayo Clinic, provides an off-the-shelf platform to enhance healing in soft tissue, musculoskeletal, cardiovascular and neurological organ systems. With this agreement, Rion will serve as the product supplier and will co-develop a proprietary cellular platform with H-CYTE for the treatment of COPD. H-CYTE will control the commercial development and facilitate clinical trial investigation. After conducting joint research and development of these biologics, H-CYTE intends to pursue submission of an investigational new drug (IND) application for review by the U.S. Food and Drug Administration (“FDA”) for treatment of COPD. \"We are extremely pleased to announce today’s agreement with Rion. This relationship has the potential to prove transformational for our company and future patients as we build promising new treatments for COPD and other lung disorders. Successful realization of this technology would be the first breakthrough in years for people with chronic lung disease. Patients deserve expanded treatment options, and we remain committed to delivering an optimal solution,” said Bill Horne, H-CYTE CEO and Chairman. Horne continued, “We look forward to working with Rion in this exciting endeavor. We intend to seek FDA approval for an innovative cellular treatment developed and marketed commercially to treat the underserved chronic lung disease patient population. This newest initiative enriches our portfolio in treati...