SANUWAVE Inc. is an emerging medical technology company engaged in the development and commercialization of non-invasive, biological response activating devices. The company yesterday announced it is now the subsidiary of a publicly traded company through a reverse merger with a wholly owned subsidiary of Rub Music Enterprises Inc. (RME), effective September 25, 2009.
Per the merger, SANUWAVE is the surviving entity. RME’s common stock is traded on the OTCBB under the ticker symbol “RBME”; however, SANUWAVE said it plans to change RME’s name and stock symbol to better fit SANUWAVE’s name.
Christopher M. Cashman, president and CEO of SANUWAVE and RME, said the company’s entrance into the public market is a significant achievement for the company as it strives to expand its operations.
“Becoming a public company is another important milestone for SANUWAVE as we strive to bring to market safe and effective, non-invasive technologies in regenerative medicine for the repair and regeneration of tissue, musculoskeletal and vascular structures. We believe we have a robust research and development pipeline, experienced management and research teams, and broad patent protection. As a public company we expect to have more access to the capital markets to help further the development and commercialization of our products,” Cashman stated in the press release.
The company also said it plans to extend applications for its proprietary Pulsed Acoustic Cellular Expression technology to wound healing, orthopedic/spine, plastic/cosmetic and cardiac conditions. SANUWAVE is currently developing a platform of products designed to assist in the restoration of the body’s normal healing processes and regeneration.
“Our immediate focus is the potential $5 billion U.S. advanced wound care market. With our Investigational Device Exemption (IDE) wound care study on diabetic foot ulcers in progress, we look forward to continuing our developmental activities and bringing our lead product, dermaPACE™, to the market. We remain on track to complete enrollment by June 2010, and look forward to submitting our Premarket Approval application to the FDA in 2011,” Cashman stated.
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