KORU Medical Systems Announces Novel Therapies Collaboration for Late-Stage Endocrinological Biologic
July 27 2023 - 3:05PM
Business Wire
KORU Medical Systems, Inc. (NASDAQ: KRMD) (“KORU Medical” or
the “Company”), a leading medical technology company focused on
the development of innovative and easy-to-use subcutaneous infusion
solutions, today announced an agreement with a biopharmaceutical
company to validate its FREEDOM™ Infusion System for use with the
biopharma company’s drug, a novel biologic. Under terms of the
Agreement, Koru Medical will validate the Freedom Infusion System
for use with the company’s drug. The drug developer is expected to
begin Phase III studies by the end of 2023 for treatment of a rare
genetic disease with global prevalence of roughly 10,000 that
currently has no pharmaceutical treatments.
The agreement adds to KORU Medical’s previously announced
collaborations with multiple biopharmaceutical companies for Phase
II and Phase III studies of treatments for neurology, immunology,
pulmonology, and other diseases outside of KORU’s Medical’s core
subcutaneous immunoglobulin market.
“Adding a late-stage pharmaceutical collaboration is a major
milestone for our Novel Therapies business as we continue to
progress our relationships to help drive greater knowledge and
adoption around the benefits of subcutaneous drug delivery for
patients in the home. We are excited to partner with this rare
disease biopharmaceutical company to bring a therapy to an area of
significant unmet need where patients have few options today,” said
Linda Tharby, KORU Medical’s President and CEO. “We believe drug
development companies are choosing Koru’s Freedom System because of
our proven experience in delivering millions of subcutaneous home
infusions each year paired with our ability to rapidly customize
the Freedom System for use in their development programs and a
high-confidence path to commercialization.”
About KORU Medical
KORU Medical develops, manufactures, and commercializes
innovative and easy-to-use subcutaneous infusion solutions that
improve quality of life for patients around the world. The FREEDOM
Syringe Infusion System (the “Freedom System”) currently includes
the FREEDOM60® and FreedomEdge® Syringe Infusion Drivers, Precision
Flow Rate Tubing™ and HIgH-Flo Subcutaneous Safety Needle Sets™.
These devices are used for infusions administered in the home and
alternate care settings. For more information, please visit
www.korumedical.com.
Forward-looking Statements
This press release contains forward-looking statements that
involve risks and uncertainties. Forward-looking statements can be
identified by words such as "will" and “seek” and include without
limitation the success and potential benefits of the Freedom System
adaptation. Actual results may differ materially from the results
predicted. The potential risks and uncertainties that could cause
actual results to differ from the results predicted include, among
others, whether KORU Medical can successfully develop and obtain
regulatory approval for the adaptation and those risks and
uncertainties included under the captions "Risk Factors" in our
Quarterly Report on Form 10-Q for the quarter ended March 31, 2023,
which is available on the SEC website at www.sec.gov and on our
website at www.korumedical.com/investors. All information provided
in this release and in the attachments is as of July 27, 2023 and
based on information available to us on the date hereof. We
undertake no duty to update this information unless required by
law.
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version on businesswire.com: https://www.businesswire.com/news/home/20230727853994/en/
Investor Contact: Greg Chodaczek 347-620-7010
investor@korumedical.com
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