IMBiotechnologies Ltd. Announces Agreement with Canadian Hospital Specialties to Distribute Ekobi® Embolization Microspheres in Canada

IMBiotechnologies Ltd. Announces Agreement with Canadian Hospital Specialties to Distribute Ekobi® Embolization Microspheres in Canada




IMBiotechnologies Ltd. Announces Agreement with Canadian Hospital Specialties to Distribute Ekobi® Embolization Microspheres in Canada

Canadian Hospital Specialties will be the exclusive distributor of Ekobi® Embolization Microspheres in Canada.

EDMONTON, Alberta–(BUSINESS WIRE)–#AlbertaTech–IMBiotechnologies Ltd. (“IMB” or the “Company”) today announced that it has signed an agreement with Canadian Hospital Specialties (“CHS”) for the exclusive right to distribute Ekobi® Embolization Microspheres (“Ekobi”) in Canada.

“CHS has expertise in the distribution of a broad range of medical devices, including interventional products,” said Michael Stewart, CEO of IMB. “We look forward to working with CHS to bring Ekobi to hospitals and clinics across Canada.”

“CHS is proud to partner with another Canadian medical device company in IMB to market and distribute Ekobi® Microspheres in Canada” added Mike Canzoneri, CEO of CHS. “CHS has been a trusted supplier to clinicians and patients for more than 50 years and the Ekobi® product line adds a critical pillar to our Interventional Radiology offering.”

Clinical studies have demonstrated safety and efficacy of Ekobi® microspheres for the treatment of hypervascularized tumors, uterine fibroids, and enlarged prostates caused by benign prostatic hyperplasia (“BPH”). Using a minimally invasive technique called embolotherapy, Ekobi® microspheres selectively block the blood vessels that feed a target tissue, starving it of oxygen and nutrients. An important advantage of Ekobi is that after providing a therapeutic benefit, Ekobi® microspheres biodegrade and are completely eliminated from the body. In addition, Ekobi can be easily seen in the body using minimally invasive ultrasound. Ekobi is the first, and only, biodegradable embolic agent detectable by ultrasound.

Ekobi® Embolization Microspheres has also received US FDA clearance for the treatment of unresectable/inoperable hypervascularized tumors.

About Canadian Hospital Specialties Limited (CHS)

Canadian Hospital Specialties (est.1967) is a privately held company located in Oakville, ON, Canada that serves customers in the acute hospital and non-acute healthcare space in Canada and Internationally. CHS provides self-manufactured products (Med-RX® brand) and third party represented products across categories including Respiratory, Anesthesia, Perfusion, Interventional, Biopsy, Drainage, Diagnostic Imaging, Pharmacy, and General Medical. The Med-Rx® line is produced in Oakville, ON, and is predominantly single use, disposable trays and kits used in a variety of procedures such as IV Starts, Feeding, Biopsy, and Thoracic drainage. All products are serviced out of three distribution facilities located in Oakville, ON and Vancouver, BC. CHS employs over 300 people, with more than 200 being in manufacturing.

About Embolotherapy

Embolotherapy works by reducing or eliminating the blood supply to target tissues. The procedure is performed by injecting embolic agents through a catheter into the blood vessels that feed a target tissue. By selectively blocking the tissue’s blood supply, the target tissue is either destroyed or devitalized, resulting in therapeutic benefit.

About IMBiotechnologies Ltd.

IMBiotechnologies Ltd. is a privately held Canadian medical device company located in Edmonton, Alberta, focused on the commercialization of medical products in the area of embolotherapy.

This press release may contain forward-looking statements and predictions. These forward-looking statements, by their nature, necessarily involve risks and uncertainties that could cause actual results to differ materially from those contemplated by the forward-looking statements. The Company considers the assumptions on which these forward-looking statements are based to be reasonable at the time they were prepared, but cautions that these assumptions regarding the future events, many of which are beyond the control of the Company, may ultimately prove to be incorrect. The Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information or future events and except as required by law.

Contacts

Michael Stewart

President & CEO

mstewart@imbiotechnologies.com
(780) 945-6609

www.imbiotechnologies.com