January 29, 2008
Canadian Venture Development Company Green Lighted from Health Canada to Manufacture, Sell and Distribute MPowRx™ Anti-Snoring Device Throughout Canada
Calgary based Tech Avenue Ventures Corp announced today that it has been granted a Medical Device Establishment License by Health Canada for the manufacture, sale and distribution of the MPowRx™ Snoring Solution in Canada. MPowRx is a clinically proven medical device, intended as a first line treatment option for those suffering from snoring.
Snoring and sleep apnea are common sleep disorders which carry serious medical and social consequences. Nearly 60 million people in North America suffer from problematic snoring or mild Obstructive Sleep Apnea (OSA), a condition in which patients stop breathing during sleep. The majority of sufferers (98 percent) simply ignore their condition or seek the convenience of over-the-counter remedies that lack clinical efficacy. Custom devices offered by sleep specialists come at high expense, inconvenience and stigma associated with seeking treatment through this channel, all of which have contributed to low adoption. As such, a large number of snorers and OSA sufferers go untreated or rely on ineffective over-the-counter remedies.
The MPowRx device was invented and clinically validated by Dr. Leslie Dort, a dentist and researcher in the field of dental sleep medicine in Alberta. “The Health Canada approval is a significant step forward in bringing this device to market,” says Gijs van Rooijen of Tech Avenue Ventures. “We expect that the availability of an over-the-counter treatment option with proven benefits will empower sufferers to seek treatment earlier and facilitate in the diagnosis and treatment of these serious medical conditions.” The company expects to initiate a pilot commercial launch of its MPowRx device in the first quarter of 2008.
“We strive to facilitate the development of successful Alberta technologies, and Tech Avenue Ventures is committed to bringing innovative technologies and products such as MPowRx to those who need it,” adds van Rooijen.
About TAV
Tech Avenue Ventures Corp, incorporated in December 2005 and is based in Calgary, Alberta, is a venture development company focused on accelerating the commercialization of high value consumer and medical products. TAV is leveraging its life sciences management and core expertise in the areas of sales and marketing, research and development, manufacturing, and intellectual property to guide the development and commercialization process and build profitable companies. More information can be accessed at www.taventures.ca.
Business Contact:
Gijs van Rooijen, Ph.D. Co-Founder
Tech Avenue Ventures Corp.
vanro@taventures.ca
403.475.8324
Media Contact:
Rodger Roeser, APR
Eisen Management Group
rroeser@eisenmanagementgroup.com
859.291.4302 |
