Full Press Release Details
ENDRA Life Sciences Reports Fourth Quarter and Full Year
Management to Host Conference Call Today at 4:30 p.m.
ANN ARBOR, Michigan March 20, 2018 - ENDRA Life Sciences
Inc. ( ENDRA ) (NASDAQ: NDRA), a developer of
enhanced ultrasound technologies, reported its financial and
operational results for the fourth quarter and full year ended
Key 2017 and Subsequent Highlights:
collaboration agreement with GE Healthcare to accelerate
development of ENDRA's Thermo-Acoustic Enhanced UltraSound
(TAEUS ) clinical platform.
public offering, as well as the exercise of over-allotment option,
which generated $8.6 million in net proceeds.
Stock Market Closing Bell at the Nasdaq MarketSite in Times Square
with company management, board of directors and IPO
personnel including an IP Specialist, engineering leader and
specialized engineers with deep knowledge of radio-frequency
photoacoustic imaging research at the 2017 World Molecular Imaging
Congress in Philadelphia.
installed a next-generation Nexus 128+ preclinical imaging system
at a leading research university in South Korea.
StarFish Medical and CriTech Research to advance development of the
TAEUS clinical product meeting CE regulatory requirements for
anticipated 2018 commercial launch in the European
with the Centre for Imaging Technology Commercialization (CIMTEC)
to conduct human studies with ENDRA's Thermo-Acoustic
Enhanced Ultrasound (TAEUS ) clinical product targeting
Non-Alcoholic Fatty Liver Disease (NAFLD).
ENDRA's total 2017 intellectual property portfolio to 33
patents and patent applications that are in preparation, filed,
issued or licensed, encompassing a range of device and
method-focused IP in targeted global markets.
presented at six institutional investor conferences and two
industry conferences in New York, California, Pennsylvania,
Minnesota and Florida.
extended terms of global collaboration agreement with GE Healthcare
to accelerate development of ENDRA's Thermo-Acoustic Enhanced
UltraSound (TAEUS ) clinical platform.
patents for non-invasive fat assessment to support TAEUS
clinical product targeting Non-Alcoholic Fatty Liver
Management Commentary
was a pivotal year for ENDRA as we successfully completed our IPO,
strategically deployed our capital, expanded the team and achieved
several operational milestones, said Francois Michelon,
ENDRA's CEO. On the heels of a renewed global
collaboration agreement with GE Healthcare, the global ultrasound
market leader, we raised $8.6 million in new capital, listed on the
NASDAQ Capital Market and positioned ENDRA to acquire CE
certification and deliver its first liver diagnostic tool for the
European market in 2018.
those new to the ENDRA story, our disruptive clinical technology in
development leverages our photo-acoustic Nexus-128 technology,
which is currently used by world-class researchers at Stanford
University and the University of Michigan. ENDRA's
Thermo-Acoustic Enhanced UltraSound (TAEUS ) clinical
platform combines RF pulses and ultrasound to visualize human
tissue composition, function and temperature in ways previously
possible only on CT & MRI and at a fraction of the total cost.
Our first TAEUS application will focus on the assessment of fat in
the liver, for early detection and monitoring of Non-Alcoholic
Fatty Liver Disease (NAFLD), which affects over one billion people
2017, we began building the foundation for the successful
commercial launch of our TAEUS clinical product in the second half
of 2018. To support this, we hired strategic personnel including an
IP specialist, engineering leader, and specialized engineers with
deep knowledge of radio-frequency applications. On the IP front, we
also strengthened ENDRA's total intellectual property
portfolio from 24 to 33 assets in 2017, with a strong focus on
protecting enabling methodologies and technical innovations related
to our TAEUS fatty liver application.
the pre-commercialization front in 2017, we formalized our
relationship with the Centre for Imaging Technology
Commercialization (CIMTEC) to complete human studies for our TAEUS
clinical product targeting NAFLD expected in the second quarter of
2018. These human studies with CIMTEC involve conventional
ultrasound, TAEUS imaging and magnetic resonance imaging (MRI). Our
objective is to obtain important insights into clinical work flow
and quantitative methodologies of ENDRA's TAEUS
product, continued Michelon.
support ENDRA's human studies and commercialization plans, in
the fourth quarter of 2017 we also partnered with StarFish Medical
and CriTech Research to advance the development of the hardware and
software elements of the TAEUS clinical product. StarFish Medical
is Canada's largest medical device development and contract
manufacturing company, while CriTech Research is an industry leader
in medical device software development. This diversified,
two-pronged productization approach will allow us to best leverage
each partner's respective area of expertise.
is already off to an exciting start as evidenced by the accelerated
renewal of our collaboration agreement with GE Healthcare. We
believe this continues to demonstrate GE's confidence with
our development progress in 2017 and signals their continued
support with development and commercialization of ENDRA's
TAEUS fatty liver product in Europe.
also expanded our patent portfolio in 2018 and were recently
granted two U.S. patents for non-invasive fat assessment to support
TAEUS clinical product targeting Non-Alcoholic Fatty Liver
Disease. These are the first U.S. patents issued to ENDRA for
non-invasive fat assessment, and we expect to receive additional
patents to protect our thermoacoustic intellectual property. As of
today, ENDRA's IP portfolio totals 39 patents and patent