WALTHAM, Mass.--(BUSINESS WIRE)--
NeuroMetrix, Inc. (Nasdaq: NURO) reported that it has started shipping
Quell wearable pain relief devices out of its production and fulfillment
facility in Woburn, MA. The initial shipments are directed to leading
doctors and thought leaders in chronic pain. The Company anticipates
that it will start fulfilling orders in late May that were placed
through its pre-order campaign on the Indiegogo platform. The Company
expects to clear the remaining backorders and begin ongoing commercial
shipments for new orders in June. The Company has an order backlog of
about 2000 Quell devices.
Quell is an over-the-counter wearable pain relief device that utilizes
proprietary non-invasive neurostimulation technology to provide pain
relief. The device is designed for people with conditions such as
diabetic nerve pain, low back and leg pain, fibromyalgia, and pain
associated with osteoarthritis. The advanced wearable device is
lightweight and can be worn during the day while active, and at night
while sleeping. It has been cleared by the FDA for treatment of chronic
pain without a prescription. Users of the device have the option of
using their smartphone to automatically track and personalize their pain
therapy through the Quell Relief app, an updated version of which was
released this week in the Apple app store.
"Initiating shipments of Quell represents a significant milestone for
NeuroMetrix. This is an important step in completing our transformation
from a traditional medical device company to one focused on the growing
consumer healthcare market," said Shai N. Gozani, M.D., Ph.D., President
and Chief Executive Officer of NeuroMetrix. "Our employees have worked
very hard to achieve this goal, and we are justifiably proud of this
important achievement. We now look forward to growing Quell into a large
and successful consumer healthcare brand."
Forward-Looking Statements
Certain statements in this press release constitute forward-looking
statements that involve a number of known and unknown risks,
uncertainties and other factors that may cause such forward-looking
statements not to be realized. We believe these factors include but are
not limited to those described under "Risk Factors" in our Annual Report
on Form 10-K, as such factors may be updated from time to time in our
periodic filings with the Securities and Exchange Commission (the
"SEC"), which are accessible on the SEC's website at www.sec.gov.
These factors should not be construed as exhaustive and should be read
in conjunction with the other cautionary statements that are included in
our Annual Report on Form 10-K and other filings with the SEC. We
undertake no obligation to publicly update or review any forward-looking
statement, whether as a result of new information, future developments
or otherwise.
About NeuroMetrix
NeuroMetrix is an innovative health-care company that develops wearable
medical technology and point-of-care tests that help patients and
physicians better manage chronic pain, nerve diseases, and sleep
disorders. For more information, please visit www.QuellRelief.com
and www.NeuroMetrix.com.
NeuroMetrix, Inc.
Thomas T. Higgins, 781-314-2761
SVP and
Chief Financial Officer
neurometrix.ir@neurometrix.com
Source: NeuroMetrix, Inc.
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