FORT LAUDERDALE, Fla.--(BUSINESS WIRE)--
Motus GI Holdings, Inc., (MOTS) (“Motus GI” or the "Company"), a medical technology company dedicated to improving endoscopy outcomes and experiences, announced today that the U.S. Patent and Trademark Office (USPTO) has issued patent No. 9,895,483 titled “Systems and Methods for Cleaning Body Cavities” which relates to the Company’s flagship product, the Pure-Vu® System, a medical device that cleans the colon to facilitate improved visualization during a colonoscopy procedure to enable a quality exam.
“We continue to work diligently to establish an extensive intellectual property portfolio to bolster and protect key aspects of the Pure-Vu System. The issuance of this U.S. patent further supports our current activities as we lay the groundwork to strategically position the Pure-Vu System to eventually become the standard of care for in-patient colonoscopy and other difficult to prep populations,” said Mark Pomeranz, CEO of Motus GI. “Combined with our recently granted EU patent and currently issued and pending patents across the world, we believe we have strong IP protection for our product which may enable us to establish a strong presence in the global colonoscopy market.”
The Pure-Vu System is currently being introduced on a pilot basis in the U.S. market in parallel to the execution of several in-patient and out-patient clinical studies that are underway or planned to start in 2018. Motus GI is planning to initiate a full commercial launch in the U.S. and select international markets in 2019.
“Our initial target market is in-patient colonoscopy which consists of more than 4 million emergent procedures performed annually in hospitals worldwide. Challenges with bowel prep represent an unmet need in this segment, as highlighted by a recently published 500 patient study from Northwestern University, where it was found that insufficiently prepped colons lead to significantly longer hospital stays and result in an average cost increases of as much as $8,000 per patient,” said Mr. Pomeranz.
“We believe the Pure-Vu System can improve colonoscopy procedures in this segment, improving speed of diagnosis and clinical outcomes while potentially saving hospitals thousands of dollars per patient without the need for any new reimbursement coverage,” said David Hochman, Chairman of Motus GI. “We believe the in-patient studies we plan to execute in the year ahead will demonstrate these benefits and establish a strong body of clinical and health economic data that will serve as a foundation for our commercial launch into this market.”
About the Pure-Vu® System
The Pure-Vu® System is a 510(k) U.S. Food and Drug Administration cleared medical device indicated to help facilitate the cleaning of a poorly prepared colon during the colonoscopy procedure. The device integrates with standard colonoscopes to enable cleaning during the procedure while preserving standard procedural workflow and techniques. The Pure-Vu System has received CE mark approval in Europe.
About Motus GI
Motus GI Holdings, Inc. is a medical technology company, with subsidiaries in the U.S. and Israel, dedicated to improving endoscopy outcomes, lowering costs and enhancing patient experiences. The Company is focused on the development and commercialization of the Pure-Vu® System to improve the colonoscopy experience and assist in the early detection and prevention of colorectal cancer and other diseases of the rectum and colon. In clinical studies to date, the Pure-Vu System significantly increased the number of patients with an adequate cleansing level, according to the Boston Bowel Preparation Scale Score, a validated assessment instrument.
This press release contains certain forward-looking statements. Forward-looking statements are based on the Company's current expectations and assumptions. The Private Securities Litigation Reform Act of 1995 provides a safe-harbor for forward-looking statements. These statements may be identified by the use of forward-looking expressions, including, but not limited to, "expect," "anticipate," "intend," "plan," "believe," "estimate," "potential," "predict," "project," "should," "would" and similar expressions and the negatives of those terms. Prospective investors are cautioned not to place undue reliance on such forward-looking statements, which speak only as of the date of this presentation. The Company undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise. Important factors that could cause actual results to differ materially from those in the forward-looking statements are set forth in the Company's filings with the Securities and Exchange Commission, including its registration statement on Form S-1, as amended from time to time, under the caption "Risk Factors."