E-QURE, a Delaware Corporate engaged in the commercialization of its Bio-electrical Signal Therapy device (BST Device), a new and novel electrotherapy for the noninvasive treatment of hard to heal chronic wounds, announced that the company has signed its first distribution agreement with Rubifarm, an Argentinian distributor specializing in medical devices.
The agreement goes into effect immediately.
After conducting preliminary market research, testing the device, and securing regulatory approval, E-QURE and Rubifarm entered into agreement where Rubifarm would undertake a minimum electrodes purchasing obligation of $50,000 for the first year, growing up to a minimum of $1,000,000 after 5 years.
Local regulatory process has put the agreement into effect.
In addition to purchase obligations, the distribution agreement defines the commercial terms of the relationship. In principle, devices will be rented to hospitals and clinics at a small monthly monetary rate to cover service and repairs, while the distributor will sell disposable electrodes on "treatment days" basis.
Rubifarm attended a professional conference to present the device to Doctor and Clinicians, back in November, and there, presented first hand testimonials and gained interest from attendees.
Ron Weissberg, Chairman of E-QURE Corp., commented. "The Company estimates that out of the approximately 41 million people residing in Argentina some 400,000 of them are suffering from stage 2 to stage 4 chronic wounds. This is a sizable market for us with the fundamentals necessary for growth.
"The distributor predicts that electrode purchasing from E-QURE will exceed minimum quantities substantially. We look forward to penetrating this new market while progressing toward FDA approval for the BST Device here in the U.S."
E-QURE Corp (OTCQB: EQUR) develops, manufactures and markets the E-QURE BST (Bioelectrical Signal Therapy) Device for the treatment and cure chronic wounds such as; pressure ulcers; diabetics foot ulcers; venous stasis ulcers and; hard to heal ulcers.
The E-QURE BST device had few regulatory approvals in different part of the world that is currently being renewed. The company is seeking FDA approval for the device to start marketing it in the US.