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Axonics Modulation Technologies, Inc. (Nasdaq: AXNX), a global medical technology company that has developed and is commercializing novel products for the treatment of bladder and bowel dysfunction, today announced it has entered into a strategic alliance with Micro Systems Technologies (MST), a leading manufacturer of medical microelectronics.
MST currently manufactures printed circuit board assemblies for the Axonics r-SNM System in Lake Oswego, Oregon. This strategic alliance expands Axonics’ relationship with MST, with the parties collaborating on the non-rechargeable SNM device Axonics has developed and anticipates bringing to market following FDA approval.
Raymond W. Cohen, chief executive officer of Axonics, commented, "We have been working with MST for over half a decade and we have developed a strong relationship. As Axonics develops new SNM embodiments for the benefit of patients suffering from bladder and bowel dysfunction, working with an experienced, best-in-class contract manufacturer with proven implantable device experience and the ability to rapidly scale is critical to support our long-term growth objectives."
The newly developed Axonics non-rechargeable implantable neurostimulator will be manufactured on the most advanced printed circuit board assembly line at Micro Systems Engineering, Inc., an MST company. The line leverages automation and an exceptional paperless traceability system to drive superior levels of throughput, yields and quality.
Christian Roessle, president of sales and marketing at MST, commented, "MST is proud to broaden our relationship with Axonics and is committed to continuing to provide the highest quality medical components and automated manufacturing capabilities. Our extensive experience in microelectronics and implantable technology, as well as our specialization in the production of hundreds of thousands of implantable devices, positions MST to provide excellent support to Axonics for years to come."
About Axonics Modulation Technologies, Inc.
Axonics has developed and is commercializing novel implantable sacral neuromodulation (SNM) devices for patients with bladder and bowel dysfunction, and through its acquisition of Bulkamid®, offers a best-in-class urethral bulking agent for women with stress urinary incontinence. These conditions significantly impact quality of life. Overactive bladder affects an estimated 87 million adults in the U.S. and Europe, with an additional 40 million adults estimated to suffer from fecal incontinence. Stress urinary incontinence affects an estimated 20 million women in the U.S. alone. Axonics’ clinically proven products are offered at hundreds of medical centers across the U.S. and abroad. Reimbursement coverage is well established in the U.S. and is a covered service in most European countries. For more information, visit www.axonics.com.
About Micro Systems Technologies
Micro Systems Technologies consists of four high-tech companies that offer innovative components and services for medical devices and other high-tech industries that demand exceptional performance, quality and the highest levels of reliability. The globally active companies that constitute MST – Micro Systems Engineering, Inc. (USA), DYCONEX AG (Switzerland), LITRONIK Batterietechnologie GmbH (Germany) and Micro Systems Engineering GmbH (Germany) – offer their customers integrated solutions ranging from initial design through to series production. For more information, visit www.mst.com.
Statements made in this press release that relate to future plans, events, prospects or performance are forward-looking statements as defined under the Private Securities Litigation Reform Act of 1995. Words such as "planned," "expects," "believes," "anticipates," "designed," and similar words are intended to identify forward-looking statements. While these forward-looking statements are based on the current expectations and beliefs of management, such forward-looking statements are subject to a number of risks, uncertainties, assumptions and other factors that could cause actual results to differ materially from the expectations expressed in this press release, including the risks and uncertainties disclosed in Axonics filings with the Securities and Exchange Commission, all of which are available online at www.sec.gov. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. Except as required by law, Axonics undertakes no obligation to update or revise any forward-looking statements to reflect new information, changed circumstances or unanticipated events.
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Senior Director, MST Sales & Marketing