AOTI
Inc. announced today that it has entered into a major strategic relationship
with a leading Chinese medical company, Nanning Xinzizhu Trading
Co.,Ltd, for distribution of its patented Topical Wound Oxygen (TWO2)
therapy wound healing products into the People’s Republic of China.The
multi-year agreement includes minimum sales performance expectations totaling
close to $18 million.
Both
companies are initially working closely together
to achieve National Medical Products Administration (NMPA) registration and
approval for the TWO2therapy product line in China, while in
parallel generating market awareness and clinical acceptance of this unique
therapy across the country. Following this initial phase and after gaining marketing
approval, Nanning will aggressively market the product line nationwide through
both its direct sales force and network of regional distribution partners.
“We are delighted to
enter into this unique collaboration with such a respected partner that will
allow our revolutionary TWO2 therapy to be quickly made available to
the millions of Chinese patients suffering with non-healing wounds” stated
Dr. Mike Griffiths, President and Chief Executive Officerof AOTI Inc.
With
a growing prevalence, it is estimated that
there are at least 109.6 million adults with diabetes in China already,
resulting inover 16 million patients that are likely suffering from Diabetic
Foot Ulcers (DFU) alone.Resultantly, China's healthcare market is growing at an
unprecedented CAGR of about 12%. With healthcare spending expected to reach $1
trillion by 2020.
“Our company has been searching for products
that can make real impact in healing chronic wounds, such as Diabetic Foot
Ulcers, which afflict such a large number of people across China” stated
Peter Pan, President and Chief Executive Officer of Nanning Xinzizhu Trading
Co.,Ltd. He further commented that “with
our experience in the surgical and wound care sector, combined with our
expertise in launching new product across China, we believe we can grow this
business opportunity exponentially in the coming years.”
