Oslo, 28 October 2016 - Navamedic ASA (OSE: NAVA), today announced an exclusive agreement with the Danish company, Re5 ApS, for Nordic distribution of Re5-NTS®, an innovative, non-invasive treatment device based on patented Danish technology, for patients with refractory depression.
"Navamedic is very excited to announce the partnership with Re5 ApS for Nordic distribution of Re5-NTS, bringing an innovative, non-invasive and safe treatment option to patients suffering from refractory depression. The device, which uses technology based on Transcranial Pulsed Electric Fields, has shown very encouraging results in clinical studies. Navamedic sees great value in an unmet, significant medical need for this product, and begins the Nordic roll-out of the device in Denmark to psychiatric clinics," says Tom Rönnlund, Chief Executive Officer of Navamedic.
The Re5-NTS® technology is developed by leading researchers at the University of Copenhagen, in collaboration with researchers at Karolinska Institutet in Stockholm. As many as 30 percent of patients diagnosed with Major Depressive Disorder (MDD) can become refractory, meaning the optimised standard pharmaceutical and psychological treatment does not provide a sufficient response. Such patients often continue to suffer from depression despite completing standard treatment, and experience a significantly reduced quality of life, reduced daily functioning, as well as prolonged personal and societal costs.
The Re5-NTS® device is used as a complementary treatment in combination with standard treatment of patients with refractory depression. The Re5-NTS® device is used by the patient for 30 minutes daily over the course of eight weeks. Clinical studies 1 have recorded low levels of side effects from the combined treatment, and a statistically significant positive effect from using Re5-NTS® for patients with refractory depression.
"Clinical depression is an incredibly debilitating disease and costs an estimated DKK 4.3 billion annually, just in the form of treatments and lost productivity, to the Danish society. The disease affects an estimated 3-4 percent of the population, and up to 30 percent of them suffer from refractory depression. Used as a complementary treatment in combination with standard treatment of refractory depression, the Re5 technology could significantly improve these patients' well-being and quality of life," says Rönnlund.
" We are very pleased to announce Navamedic as our Nordic partner for the sale and distribution of Re5-NTS, our proprietary product with approval, for treatment of refractory depression in all EU markets, as well as Norway and Iceland. The agreement supports our strategy of identifying a strong distribution partner in this region with the right agility and ability to provide Re5-NTS the focus needed to make it a success. We look forward to working with the Navamedic team to secure the full commercial potential of Re5-NTS," says Teddy Hebo Larsen, Managing Partner of Re5 ApS.
For further information, please contact:
Tom Rönnlund, CEO, Navamedic. Tel: +46 727 320 321.
Teddy Hebo Larsen, Managing Partner, Re5. Tel:+45 2092 5767
About Navamedic :
Navamedic ASA is a Norwegian medtech and pharmaceutical products company, delivering products to patients, hospitals and pharmacies in the Nordic and Benelux markets. The Group's Medtech business has developed and is currently introducing the next generation of digital urine meter Sippi®. Navamedic's Pharma and Healthcare business is a distributor of products supplied by a number of pharmaceutical and medical device manufacturers. Navamedic is listed on the Oslo Stock Exchange (ticker: NAVA).
About Re5 ApS:
Re5 ApS is a privately owned med-tech company founded in 2000. Re5 has developed the new and innovative treatment concept Re5-NTS, for treatment of refractory depression. www.re5.com
Dose-remission of pulsating electromagnetic fields as augmentation in therapy-resistant depression: a randomized, double-blind controlled study. Birgit Straasø, Lise Lauritzen, Marianne Lunde, Maj Vinberg, Lone Lindberg, Erik Roj Larsen, Steen Dissing and Per Bech. Acta Neuropsychiatrica, 2014;