Oventus signs Manufacturing Agreement with Modern Dental
Brisbane, May 30, 2017 AEST (ABN Newswire) - Oventus Medical Ltd (
ASX:OVN) is pleased to announce it has entered into a manufacturing agreement with Hong Kong based Modern Dental Group. Modern Dental have extensive expertise in the manufacture of dental appliances and hold the required quality management certifications for medical device manufacture. They are registered as a contract manufacturer with the FDA for the US market.
Key Points:
- Oventus and Modern Dental have executed a manufacturing agreement for Modern Dental to co-manufacture the current O2Vent range of products.
- Modern Dental Group is listed on the Hong Kong Stock exchange and is the world's leading dental prosthetics device provider.
- Oventus will focus on designing and 3D printing of the Oventus proprietary airway component before sending to Modern Dental to complete the appliance utilising traditional dental laboratory manufacturing methods.
- Allows Oventus to more rapidly scale-up manufacturing when required and at lower cost.
The manufacturing agreement executed between Oventus and Modern Dental relates to Oventus' proprietary O2Vent products that are indicated for use during sleep to aid in the treatment of snoring and obstructive sleep apnoea (OSA). The agreement between the two parties is non-exclusive and includes set pricing for the applicable manufacturing steps. Oventus will continue to design and 3D print the Oventus proprietary airway components.
Mr Alwin Ngai, Chief Operating Officer of Modern Dental said: "We believe the collaboration with Oventus is of significant benefit to both parties. We can manufacture these types of oral appliances in large volumes and therefore anticipate to be able to meet future demand. We look forward to a long and mutually beneficial relationship."
Oventus Managing Director and Chief Executive Officer, Neil Anderson said: "We are very pleased to have entered into a manufacturing agreement with Modern Dental. The agreement allows us to focus on the manufacture of our unique differentiating feature - the Oventus Airway Technology that distinguishes us from all other appliances in the market. ."
He added: "Our strategy is to commercialise a range of oral appliances with our proprietary airway design that have the various lower jaw advancement mechanisms. To date this includes three custom made appliances. Modern Dental will be able to manufacture the volumes required to meet the future demand for our products and at relatively short notice."
The manufacturing agreement starts immediately and will initially be for relatively small volumes for the Australian market before starting to manufacture for the US market later in 2017.
About Oventus Medical Ltd
Oventus Medical Ltd (ASX:OVN) is a Brisbane based medical device company that is commercialising a unique treatment platform for the treatment of sleep apnoea and snoring. Unlike other oral appliances or CPAP interfaces, the Oventus devices have a unique and patented airway within the treatment platform that allows air to flow to the back of the mouth unobstructed while maintaining an oral seal and stable jaw position, bypassing multiple obstructions from the nose, soft palate and tongue, reducing airway collapsibility and managing mouth breathing while maintain a stable airway with or without nasal CPAP. They are particularly designed for the many people that have nasal obstructions and consequently tend to mainly breathe through their mouth. While it may seem counterintuitive, this technology actually manages mouth breathing by converting it to device breathing and normalising ventilation. The O2Vent(TM) is designed to allow nasal breathing when the nose is unobstructed, but when obstruction is present, breathing is supplemented via the airways in the appliance.
For more information on Oventus' Sleep Treatment Platform, please visit https://www.oventus.com
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