Business, oncology  

Misonix expands high intensity focused ultrasound business to Spain

30 October 2006

Farmingdale, N.Y., USA. Misonix, Inc. (Nasdaq: MSON) has expanded its European high intensity focused ultrasound (HIFU) business into Spain. The Company’s activities in Spain are supported by a partnership agreement with IMEX Clinic Group.

The HIFU device that it supplies, the Sonablate 500 (SB500), was  developed by Focus Surgery, Inc. and is manufactured and distributed in Europe by Misonix. In addition to applying HIFU to prostate cancer treatment, Misonix has the right to utilize the same technology for treatment of tissue in the kidney, liver and breast. Misonix is an investor in Focus Surgery.

According to the Comprehensive Cancer Monitoring Program in Europe, there are over 11,000 new cases of prostate cancer in Spain annually.

The IMEX Clinic, a division of the IMEX Group, was founded in 1995 and had substantial medical device distribution revenues in its most recent fiscal year. The IMEX Clinic is divided into three major divisions: surgical, instrument, and capital equipment. The IMEX Group has distribution agreements with leading companies, including Carl Zeiss (Ioltech), Intralase and Allegiance (Cardinal Healthcare). IMEX has partnered with Misonix, Ltd., Misonix’s wholly-owned European subsidiary, and will serve Misonix as the commercial arm within Spain offering both fee-for-use and capital sales.

The partnership is intended to increase the SB500 share of an important continental European market in Spain as Misonix has done with other partners and through UKHIFU in other European countries.

Integral to the success to date for Misonix and the SB500 in Europe is the results of a previously announced study on Misonix’s Visually Directed HIFU. This study reported that 84% of patients were able to achieve success as measured by PSA nadir levels dropping to 0.2ng/ml or less after treatment. This measurement for success using the SB500 has not been achieved by previous published HIFU techniques; these PSA nadirs are typically associated with a surgical approach.

Commenting on the HIFU entry into Spain, Michael A. McManus, Jr., President and Chief Executive Officer of Misonix, said, “We are excited about the agreement with the IMEX Group and look forward to seeing our share in Spain replicate our current and growing share across Europe. IMEX, with its extensive network of contacts in Spanish healthcare facilities, is well positioned to assist Misonix in achieving its goal of offering the market a different kind of HIFU that is visually directed. Visually Directed HIFU involves a surgeon-controlled operation so that each patient is treated individually for their specific condition.”

“We are proud to work with Misonix in bringing Visually Directed HIFU using the Sonablate 500 to the Spanish market. We intend to aggressively present the Misonix’s Visually Directed HIFU to our customer and medical community constituencies,” said Jose-Maria Reiz, Managing Director of IMEX Clinic Group.

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