MALAKOFF, France--(BUSINESS WIRE)--Regulatory News:
THERACLION (Paris:ALTHE) (Alternext, FR0010120402 – ALTHE), a company specialized in leading-edge medical equipment for echotherapy, today announced the signature of a joint venture agreement with Inner Mongolia Furui Medical Science Co., Ltd, https://www.bloomberg.com/quote/300049:CH). Theraclion will own 56% of Theraclion China Co., Ltd. and Inner Mongolia Furui Medical Science Co., Ltd 44%.
The joint venture company, Theraclion China Co., Ltd., will be based in Shenzhen and will focus on developing the Chinese market for Theraclion‘s Echopulse®, a non-invasive medical device employing ultrasound-guided high-intensity focused ultrasound, as an alternative to surgery.
Annually, one million surgeries to excise benign thyroid nodules and 700 thousand surgeries to remove breast fibroadenoma are performed in China1. This represents more than 50% of the surgeries performed to treat these conditions every year in the world and makes China the biggest addressable market for Theraclion’s products.
High-intensity focused ultrasound is already a well-established treatment method in China with specific public reimbursement codes that should facilitate the rapid adoption of Echopulse® Non-invasive treatment with Echopulse® is expected to provide a significantly less expensive treatment compared to surgery in the nearly 1,500 level III hospitals that offer the procedure. Thyroid surgeries for example, require on average a six-day hospital-stay costing up to USD 2,000. The Echopulse® procedure can be performed in an ambulatory setting, without a sterile environment and promises almost immediate recovery for patients.
Guanyi Wang, Inner Mongolia Furui Medical Science Co., Chairman said, “In 2016, Furui became the second shareholder of Theraclion. The signature of this Joint Venture agreement with Theraclion is a new step in our ambition to attack the Chinese market of Thyroid and BFA treatments. We see a huge potential for echotherapy in China and we are looking to build a successful partnership.”
Sylvain Yon, Deputy CEO of Theraclion, added, “China is a major market for Echopulse with a high rate of surgical interventions for thyroid nodules and breast fibroadenomas. The local expertise of Furui, and its long and successful track record of partnering with French medical technology companies combined with our technology that promises to improve patient treatment at lower cost has all the elements for a very successful venture. We look forward to continuing to build our very constructive relationship with Furui, and transform it into a huge commercial success in Mainland China.”
David Caumartin, CEO of Theraclion, added, “Furui has a very strong track record of success in China. Its collaboration with Echosens SA, acting initially as their Chinese distributor and ultimately owner, was instrumental in transforming that French medtech company into a global success. The Chinese market is the biggest opportunity for Theraclion’s innovative technology and we strongly believe that a partnership with Furui is the best solution to quickly build a strong and enduring market position in China.”
About Inner Mongolia Furui Medical Science Co., Ltd
Inner Mongolia Furui Medical Science Co Ltd. (https://www.bloomberg.com/quote/300049:CH) manufactures and sells hepatology Chinese medicines. The Company's products include anti-fibrosis drug, anti-fatty liver disease medicine, and liver fibrosis testing instruments. In 2016, Company recorded CNY 827 million of revenues, a growth of 58% to 2013 and posted a Net Income of CNY 121 million. The Company owns 44.78% of Echosens SA shares.
Theraclion is a French company specializing in high-tech medical equipment using therapeutic ultrasound. Drawing on leading-edge technologies, Theraclion has designed and manufactured an innovative solution for echotherapy, the Echopulse®, allowing non-invasive tumor treatment through ultrasound-guided high-intensity focused ultrasound. Theraclion is ISO 13485 certified and has received the CE mark for non-invasive ablation of breast fibroadenomas and thyroid nodules. Based in Malakoff, near Paris, France Theraclion has brought together a team of 34 people, 50% of whom are dedicated to R&D and clinical trials. For more information, please visit Theraclion’s website: www.theraclion.com.
This press release contains elements that are not historical facts including, without limitation, certain statements about future expectations and other forward-looking statements. Such statements are based on management’s current views and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those anticipated. In addition, THERACLION, its shareholders, and its affiliates, directors, officers, advisors and employees have not verified the accuracy of, and make no representations or warranties in relation to, statistical data or predictions contained in this press release that were taken or derived from third party sources or industry publications, and such statistical data and predictions are used in this press release for information purposes only. Finally, this press release may be drafted in the French and English languages. If both versions are interpreted differently, the French language version shall prevail.
Theraclion is listed on Alternext Paris
Mnemonic: ALTHE - ISIN Code: FR0010120402
1 China Hospital Data Base 2012