Healthcare company Oventus Medical Limited wheels the launch of O2Vent® Optima oral device in Australia aimed at the treatment of sleep apnoea. The news sent the OVN stock price to jump up by 11.667% to trade at $0.335 on 8 January 2019 (2:19 PM AEST).
The launch presents the latest range of oral device product targeted to strengthen Oventus’ sleep treatment platform. The O2Vent® Optima is a customized 3D printed nylon oral appliance that incorporates Oventus’ proprietary Airway Technology to offers an enhanced treatment alternative for the potentially fatal condition like obstructive sleep apnoea (OSA).
Oventus Managing Director and CEO Dr. Chris Hart stated that the launch of next-generation O2Vent® product outlines the lightweight and durable device incorporating Oventus Airway technology. He added the O2Vent® Optima offers more flexible option to those that cannot tolerate CPAP therapy.
On the financial front, the combination of reduced material costs and lower manufacturing time for O2Vent® Optima will reportedly bring down the cost of goods compared to original titanium O2Vent®. It will also lessen timeframe on the delivery of devices to patients.
But the introduction of O2Vent® Optima is the first of the two new products that Oventus has planned to launch this year. Its second product is a valve called ExVent TM that is designed to stabilize the airway and increase airflow naturally.
This valve has been developed in collaboration with Neuroscience Research Australia and CISRO in the three years. It includes the integration with select O2Vent® that could potentially increase the success rate of traditional mouthguard devices. Moreover, clinical trials have shown that Oventus’ proprietary airway alone or in combination with ExVent TM valve technology can dramatically improve the treatment outcomes for sufferers of obstructive sleep apnoea.
As per the company’s information, $2.95 million were Federally funded for the development of Oventus’ valve technology through the Cooperative Research Centres Project grant. ExVentTM is slated to be launched in Australia during the first quarter of the calendar year 2019.
The company further stated that after the launch of both the products, O2Vent® Optima, and ExVent TM, in Australia, these products are scheduled to be released in European and North American markets.
Oventus Medical Limited (ASX: OVN) is an ASX-listed medical equipment company that focuses on developing and commercializing unique products for the treatment of snoring and sleep apnoea. The company uses its proprietary airflow technology within the treatment platform that provides airway stability and with or without nasal CPAP.
OVN last traded at $0.330 on 8 January 2019 with a market capitalization of $31.78 million. Over the past 12 months to date, the stock has witnessed a meltdown of 51.61% including a decline of 7.69% in just past month.