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Oventus signs first U.S. agreements with sleep medicine groups

Health Care
ASX:OVN
15 July 2019 00:56 (AEST)

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Oventus Medical has signed its first material contract with eight sleep medicine groups across Texas, Arizona and New Mexico.

Under the agreement, Oventus will supply its O2Vent treatment platform for the treatment of obstructive sleep apnoea (OSA).

OSA can be defined as a sleep-related breathing disorder involving a decrease or complete pause in airflow. It happens when the muscles relax during sleep, causing soft tissue in the throat to collapse and block the upper airway.

The O2Vent oral device allows for airflow to the back of the mouth and reduces the soft tissue in the throat to collapse. The device also helps people who have nasal obstruction and have trouble breathing through their nose.

When obstruction is present, the O2Vent device will support breathing using its airways.

The agreement will include the delivery of 20 O2Vent devices to patients across the eight U.S facilities. However, device orders are expected to increase once fully operational.

The agreement will officially launch once the device has received approval from the FDA.

“This is an important agreement as it is the first we’ve announced in the US which will use our ‘lab in lab’ business model and one that we have signed in anticipation of FDA clearance of the company’s flagship device the O2Vent® Optima,” CEO Dr Chris Hart said.

Last month, Oventus secured seven sites in Canada under the same model. The company is hoping FDA approval will occur soon in Canada so the US agreements can quickly follow.

Further agreements are also in negotiations across additional areas in Canada and the U.S, as well as in Australia.

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