MAHWAH, N.J. - KORU Medical Systems, Inc. (NASDAQ: KRMD), a medical technology company, has announced a collaboration with an unnamed global pharmaceutical manufacturer to conduct a feasibility study. This study will test the use of KORU's Freedom Infusion System with an existing rare disease therapy.
The company, known for its development and commercialization of subcutaneous infusion solutions, aims to create a custom version of the Freedom System for subcutaneous administration of this therapy. Currently, the drug is administered in ambulatory infusion centers (AICs) and suites (AISs) in the U.S., and hospitals in the European Union.
Linda Tharby, President and CEO of KORU Medical, expressed enthusiasm for expanding the use of the Freedom Infusion System into new therapeutic settings. She highlighted the system's versatility and its potential to deliver life-changing treatments in various care environments. KORU Medical plans to seek FDA clearance for the device within the next 12 months, pending the success of the feasibility study.
The Freedom System, which includes the FREEDOM60® and FreedomEdge® Syringe Infusion Drivers, is designed for infusions in home and alternate care settings. The company's commitment to improving patients' quality of life is evident in its patient-centric products.
The press release also contained forward-looking statements, cautioning that actual results might differ due to risks such as the feasibility study's success, customization agreement with the pharmaceutical manufacturer, development of the system, and obtaining regulatory clearances.
These statements are based on information as of March 5, 2024, and the company does not commit to updating this information except as required by law.
This collaboration represents a step forward for KORU Medical in its mission to lead in the field of large volume subcutaneous infusion, based on a press release statement.
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