Brisbane, Australia 24 June 2019: Oventus Medical Ltd or the Company (ASX: OVN) is pleased to announce it has signed its first material contracts with Canadian sleep medicine groups who will adopt the Company’s O2Vent® Sleep Treatment Platform. The launch with the two groups, which represent 7 clinical delivery sites, is scheduled for July 2019.
The exclusive supply agreements require that each of the 7 sites must deliver minimum monthly quotas of 20 devices from the O2Vent® Sleep Treatment Platform, which will be delivered to patients using the ‘lab in lab’ model. The Oventus Sleep Treatment Platform encompasses the O2Vent® oral therapeutic device, and the unique valve accessories, ExVent™ and O2Vent® OnePAPTM*
CEO of Oventus, Dr Chris Hart commented, “We have been working hard over the past 18 months to educate sleep clinicians and dentists on the benefits of our Sleep Treatment Platform, which is delivering therapeutic outcomes similar to CPAP for the majority of OSA patients. These first contracts are representative of a significant pipeline of interest in our technology and strong validation that our ‘lab in lab’ model can make commercial sense.”
Oventus is in ongoing negations with multiple groups across Canada, the US and Australia for the adoption of its technology and the ‘lab in lab’ model with a view to significant scaling through the end of calendar 2019 and 2020. Further agreements of this kind are expected to be secured and announced across these key markets over the next 12-24 months.