ADM Tronics to Develop Patented, Next-Generation Ophthalmic Diagnostic System for RetinalGeniX Technologies, Inc.
January 13, 2020
Northvale, NJ, Jan. 13, 2020 (GLOBE NEWSWIRE) -- ADM Tronics Unlimited, Inc. (OTCQB: ADMT) announced that RetinalGeniX Technologies, Inc. (“RTI”), has entered into an engineering development agreement for ADMT to develop and manufacture RTI’s patented, next-generation ophthalmic diagnostic technology known as the RetinalGeniX™ system.
The RetinalGeniX system is a cost-effective, ultra-wide imaging system to examine the periphery of the retina for the detection of early signs of diabetic retinopathy (“DR”) without dilating a patient’s pupils. RetinalGeniX was developed by researchers at RTI and is covered by three patents.
ADMT will develop and engineer the RetinalGeniX system to meet regulatory requirements and for quantity manufacturing in ADMT’s FDA-Registered Medical Device Manufacturing Facility in Northvale, NJ. Once the commercial-ready design of the RetinalGeniX system is completed, ADMT will support RTI in regulatory submission requirements for US FDA and international distribution to the ophthalmic and ophthalmology markets.
Jerry Katzman, MD, Chairman, President and CEO of RTI, stated, “We are pleased to be working with ADM Tronics to bring the RetinalGeniX system to market readiness. There is a significant need for a simpler and more affordable device for uncomplicated but accurate imaging of a person’s retina to detect symptoms of diabetic retinopathy. I know our RetinalGeniX system fills that need and I am confident ADMT can help us to bring this great technology to fruition.”
DR is a leading cause of vision loss globally. Of an estimated 285 million people with diabetes mellitus, about one-third, over 100 million, have signs of DR with approximately one-third of those, or 35 million, threatened with blindness due to diabetic maculopathy. Early detection of diabetes, by observing vascular changes in the peripheral retina, not only serves as an early warning for diabetes but also signals vascular cerebral pathology and early signs of dementia. Early diagnosis leads to more favorable outcomes in both diseases. This technology will facilitate the mass screening of large populations.
“We are excited that RTI has chosen our company for this important project that can help so many people around the world,” stated Andre’ DiMino, President and CEO of ADMT. “Our engineering and regulatory teams look forward to working with Dr. Katzman and researchers at RTI to bring the RetinalGeniX system to commercialization.”
RTI is an emerging medical device company focused on commercializing the next generation of cost-effective, ultra-wide imaging technologies to examine the periphery of the retina, at up to a 200° field of view, to detect early signs of diabetic retinopathy.
“We are dedicated to developing technologies that advance the next generation of diagnostics. Detected early and treated effectively, retinopathy can be stopped so that vision can be maintained. The proliferation of tools making early diagnosis easy and inexpensive is a critical factor in broadening care,” stated Dr. Katzman. “Our relationship with ADM Tronics for engineering the RetinalGeniX system helps us to advance our efforts.”
ADMT is a diversified, technology-based developer and manufacturer of innovative technologies and products. Its core competency is its ability to conceptualize a technology, bring it through development, into manufacturing and commercialization, all in-house. ADMT has three areas of activity: Proprietary Medical Devices; Medical Device Design, Engineering, Regulatory and Manufacturing Services; and Eco-Friendly, Water-Based Formulations. The Company’s headquarters, laboratories, FDA-Registered medical device, and manufacturing operations are in Northvale, NJ. ADMT’s multi-disciplinary team of engineers, researchers, and technologists utilize advanced technology infrastructure, such as rapid 3-D prototyping, precision instrumentation, and specialized software and peripherals, for research, development, and commercialization of diversified technologies. Additional information is available on the Company’s website - admtronics.com.
Except for historical information contained herein, the matters set forth in this news release are “forward-looking” statements (as defined in the Private Securities Litigation Reform Act of 1995), including statements regarding future revenue growth and performance. Although ADMT believes the expectations reflected in such forward-looking statements are based upon reasonable assumptions, there can be no assurance that its expectations will be realized. Forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from expectations. Factors that could contribute to such differences include those described from time to time in ADMT’s SEC filings, news releases, and other communications. The Company assumes no obligation to update the information contained in this news release.