Medifocus, Ideal Concept JV To Market Prolieve Treatment

Medifocus has entered into a joint venture agreement with Ideal Concept Group to sell and market its Prolieve treatment in China and other Asian countries.

AsianScientist (Nov. 26, 2013) – Medifocus, Inc. has announced a joint venture (JV) agreement with Ideal Concept Group, Ltd., a Hong Kong-based company with expertise in business development, to sell and market the Prolieve® Thermodilatation System in China and other Asian countries.

ICG and Medifocus will own 60 and 40 percent of the JV, respectively. The JV will assist Medifocus in obtaining commercial approval for the Company’s Prolieve® Thermodilatation System from the China Food and Drug Administration (CFDA) to allow the marketing and sales of Prolieve® as a treatment for benign prostatic hyperplasia (BPH) in China.

Following CFDA approval, the JV intends to seek distributors to market and sell Prolieve® in Greater China and other countries in Asia. The JV will identify and select GMP compliant manufacturers for the Prolieve® system and treatment disposables to reduce costs and broaden supply channels.

The Company’s APA 1000 Breast Cancer Treatment System has already received allowance from the U.S. FDA and Health Canada to conduct a pivotal Phase III clinical trial as a final step towards pre-marketing approval (PMA) for commercialization. ICG will assist Medifocus in recruiting additional clinical sites in China to expedite the completion of the study and also initiate the process to seek simultaneous CFDA approval for the APA 1000 for treatment of breast cancer.

In addition, the JV expects to identify and collaborate with institutions in China to develop next generation focused heat systems using the Company’s catheter-based Endo-thermotherapy Platform for the treatment of cervical, prostate and esophageal cancers, and to develop external focused heating systems using its Adaptive Phased Array (APA) Microwave Focusing Technology Platform for the treatment of surface, sub-surface and deep seated localized and regional cancers.

“This joint venture should expedite the entry of our products in a region with a significantly larger patient population and position our technology platforms and products at the forefront of the vast and rapidly expanding BPH and cancer treatment markets worldwide,” said Dr. Augustine Y. Cheung, CEO of Medifocus.


Source: Medifocus Inc.
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