Autonomix Medical (NASDAQ: AMIX) stock more than doubled during intraday trading after securing RF Innovations technology license.
Autonomix Medical has entered into a definitive licensing agreement with RF Innovations, Inc., a privately held medical technology company. The deal grants Autonomix access to the intellectual property of RF Innovations’ Apex 6 Radiofrequency Generator, the FDA-cleared ablation technology designed to lesion neural tissue for pain management in the peripheral nervous system.
Under the terms of the deal, Autonomix will issue 250,000 common shares to RF Innovations in exchange for a perpetual, non-exclusive, worldwide, and royalty-free license to the Apex 6 technology. The transaction will close before the end of July.
The company plans to advance treatments for pancreatic cancer-related pain using Apex 6 Generator technology, addressing an area with currently limited effective options and often significant side effects.
Executive Statement
Brad Hauser, President and CEO of Autonomix Medical, expressed optimism about the agreement, highlighting its potential to streamline regulatory processes and accelerate the development of their advanced sensing device. Hauser said,
“The team from RF Innovations is deeply experienced in the development and manufacturing of radio frequency generators and their assistance will be invaluable as we move our system forward towards commercialization. Together, we can work to adapt the technology for our specific use case and accelerate our journey to revolutionize how diseases involving the nervous system are diagnosed and treated.”
Autonomix’s technology platform features a catheter-based microchip sensing array, which reportedly offers significantly higher sensitivity in detecting neural signals than existing technologies. While the company’s immediate focus is on pancreatic cancer pain management, there are plans to expand the application of this technology to other medical fields, including cardiology and chronic pain management.
It is important to note that Autonomix’s technology is still under investigation and hasn’t yet received marketing clearance in the United States.
Autonomix Medical (NASDAQ: AMIX) Stock Reaction
AMIX stock soared 130% on Monday, closing at $1.38, marking a 159.40% increase for the week. The trading volume was 153,752,183 shares, significantly higher than the average daily volume of 2.96 million.
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