Autonomix Medical (Nasdaq:AMIX) today announced that it has signed a definitive licensing agreement with RF Innovations.
The agreement allows Autonomix to license intellectual property rights to RF Innovations' Apex 6 radio frequency (RF) generator. RF Innovations' FDA-approved Apex 6 damages nerve tissue for peripheral nervous system pain management.
Autonomics expects to close the transaction by the end of this month. The company is offering 250,000 shares of its common stock in exchange for a perpetual, non-exclusive, worldwide, royalty-free license. Autonomics plans to leverage the technology in strategic therapeutic areas to increase value across its pipeline. New president and CEO Brad Hauser said the company plans to use the RF ablation generator in conjunction with its new sensor devices.
The company is currently conducting proof-of-concept trials of its transvascular radiofrequency (RF) ablation technology to treat pancreatic cancer pain.
Autonomics plans to begin working with RF Innovations' manufacturing partners immediately to accelerate device development and also plans to incorporate the partners into its own manufacturing supply chain.
“This transaction marks a major step forward in the development and commercialization of our innovative technology platform and potentially simplifies our regulatory strategy as the Apex 6 generator is already FDA cleared for pain management,” said Brad Hauser, president and CEO of Autonomics. “Together, we can adapt the technology to our specific use cases and accelerate our efforts to revolutionize the way diseases related to the nervous system are diagnosed and treated.”
