Shares of Autonomix Medical, Inc. (NASDAQ: AMIX) have seen a remarkable increase, soaring by 104.92% to $1.24 during the latest session. This substantial rise in AMIX stock is attributed to a newly announced patent licensing initiative.
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Strategic Agreement with RF Innovations
Autonomix Medical announced a definitive agreement with RF Innovations, Inc., a private medical technology firm, to license the intellectual property of the Apex 6 Radiofrequency Generator. This FDA-cleared ablation technology is designed to lesion neural tissue for pain management within the peripheral nervous system.
The transaction, involving 250,000 shares of common stock, grants Autonomix a perpetual, non-exclusive, worldwide, and royalty-free license for the Apex 6 Generator intellectual property. The deal is expected to close by the end of July 2024.
Enhancing Therapeutic Potential
Autonomix’s innovative technology platform features a catheter-based microchip sensing array capable of detecting and differentiating neural signals with approximately 3,000 times greater sensitivity than existing technologies.
The acquisition of the Apex 6 Generator represents a significant advancement for the development and commercialization of Autonomix’s technology, potentially simplifying its regulatory strategy due to the generator’s existing FDA clearance for pain management.
Autonomix plans to integrate the Apex 6 technology within its strategic therapeutic areas to enhance its pipeline. The collaboration with RF Innovations, whose team has extensive expertise in developing and manufacturing radiofrequency generators, will be crucial as Autonomix progresses towards commercialization.
Commercial Strategy
Immediate efforts will commence with RF Innovations’ manufacturing partner, incorporating them into Autonomix’s supply chain. Initially, Autonomix aims to address pain associated with pancreatic cancer, with further indications considered based on initial data outcomes.
The company’s ongoing proof-of-concept (PoC) human clinical trial is testing the safety and efficacy of radiofrequency (RF) ablation in a transvascular approach to relieve pain associated with pancreatic cancer, and the findings thus far have been quite convincing.
Current treatments often involve opioids or invasive ethanol injections, which offer limited relief and pose significant side effects.
