NeuroOne Medical Technologies Signs Exclusive Agreement with Zimmer, Inc. for OneRF Ablation System Distribution

NeuroOne Medical Technologies Corporation recently announced the signing of an amended and restated exclusive development and distribution agreement with Zimmer, Inc. The agreement grants Zimmer exclusive rights and licenses for distributing NeuroOne’s OneRF Ablation System. This agreement, effective as of October 25, 2024, specifies that Zimmer will make an initial payment of $3.0 million to NeuroOne within ten business days from the effective date, with the potential for an additional $1.0 million payment based on specified net sales milestones.

The exclusive distribution agreement is set to conclude on September 30, 2034, unless terminated earlier as outlined in the agreement. Termination clauses include provisions for written notices concerning material breaches, insolvency proceedings, and competitor acquisitions. Both parties have agreed to indemnify each other against losses and expenses related to product development, commercialization activities, and breaches of representations, warranties, or covenants.

In conjunction with this agreement, NeuroOne issued a press release on October 31, 2024, highlighting the milestone. The press release emphasized the positive impact the agreement is expected to have on the company’s sales revenue and profitability.

The OneRF Ablation System, the only FDA-cleared radiofrequency ablation system for both diagnostic and therapeutic use in the United States, has been successfully utilized in various cases since its limited launch in April. The technology enables the identification and ablation of targeted brain tissue to reduce or eliminate seizure activity. Its innovative features aim to reduce hospital stays, the number of surgeries, adverse events, and enhance patient safety through temperature control.

Company executives expressed enthusiasm for the expanded collaboration. NeuroOne’s President and CEO, Dave Rosa, highlighted the strategic advantages the partnership with Zimmer provides, leveraging their expertise in robotic technologies and extensive distribution channels. Conversely, Zimmer Biomet’s President, Brian Hatcher, underscored their enthusiasm in expanding their relationship with NeuroOne and the prospects for launching the OneRF Ablation System.

NeuroOne Medical Technologies Corporation, a medical technology company dedicated to enhancing surgical care for patients with neurological disorders, aims to provide minimally invasive solutions for conditions like epilepsy, Parkinson’s disease, and chronic pain, among others. The company looks forward to further expanding its technology’s indications and applications in the future.

Please note this press release may contain forward-looking statements subject to uncertainties and risks, as outlined by NeuroOne. The company, while confident in the basis for forward-looking statements, acknowledges that actual results may differ due to various external factors beyond its control.

For further information about NeuroOne Medical Technologies Corporation, visit www.nmtc1.com.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read NeuroOne Medical Technologies’s 8K filing here.

About NeuroOne Medical Technologies

NeuroOne Medical Technologies Corporation, a developmental stage company, provides solutions for EEG recording, brain stimulation and ablation solutions for patients suffering from epilepsy, Parkinson’s disease, dystonia, essential tremors, and chronic pain due to failed back surgeries and other related neurological disorders.