CEDAR KNOLLS, N.J.,
Oct. 2, 2018 /PRNewswire/
-- MYOS RENS Technology Inc. ("MYOS" or "the Company")
(NASDAQ: MYOS), a biotherapeutics and bionutrition company and the
owner of Fortetropin®, a proprietary bioactive
composition derived from fertilized egg yolk that helps build lean
muscle, announced today that MYOS Enteral Nutrition
Formula, formulated with
Fortetropin®, has become eligible for
Medicare and Medicaid reimbursement. Specifically, the formula has
been approved as an HCPCS B4150 Product after review by the
Pricing, Data Analysis, and Coding Contractor for the Centers for
Medicare and Medicaid Services ("CMS"). This HCPCS B4150 code
is used to describe enteral formulas which are nutritionally
complete with intact nutrients, including proteins, fats,
carbohydrates, vitamins, and minerals.
Joseph Mannello, Chief Executive
Officer of MYOS, commented, "We are thrilled to have secured
reimbursement approval from CMS for our enteral nutrition formula,
and the fact that for the first time, a Fortetropin®-based
nutrition product has been assigned an HCPCS code."
"Many patients who require enteral nutrition are very sick and
can benefit from access to high quality nutrition products.
Patients who experience difficulty eating due to issues related to
swallowing or with their esophagus, require the use of an enteral
feeding tube to deliver their nutrients. We will continue to
devote efforts towards commercializing our enteral nutrition
formula so that the potential of Fortetropin to improve quality of
life can be realized."
"Our team of scientists continue to work towards exploring the
range of health benefits of Fortetropin. The development and
commercialization of medical nutrition products is a long-term
initiative that we believe will enable us to further leverage the versatility of
Fortetropin," concluded, Mr. Mannello.
"The challenge of managing many chronic diseases includes
controlling the catabolic effects of therapies such as
anti-neoplastics, as well as the metabolic abnormalities central to
the primary illness. An effective anti-catabolic
bionutritional product such as Fortetropin, which is well-tolerated
and cost-effective is a huge advance for healthcare," added
Robert J. Hariri, M.D., Ph.D., Myos
Chairman.
A serving of MYOS Enteral Nutrition Formula contains 6.6 grams
of Fortetropin in addition to 23 grams of protein and 26 high
quality vitamins and minerals. The term, "enteral nutrition"
typically refers to a feeding method that makes use of the
gastrointestinal tract to deliver some component of a
patient's dietary
needs.
Many patients who suffer from certain Cancers, Cerebral Palsy,
Down Syndrome, Duchenne Muscular Dystrophy, Stroke, Traumatic Brain
Injury and Ulcerative Colitis, rely upon enteral nutrition to meet
their dietary needs.
About MYOS RENS Technology Inc.
MYOS RENS
Technology Inc. (MYOS), "The Muscle Company™", is a Cedar Knolls, NJ-based bionutrition company
that develops and markets products that improve muscle health and
performance. MYOS is the owner of Fortetropin®, a
fertilized egg yolk-based product manufactured via a proprietary
process to retain and optimize its biological activity. Fortetropin
has been clinically shown to increase muscle size and lean body
mass in conjunction with resistance training. MYOS believes
Fortetropin has the potential to redefine existing standards of
physical health and wellness. For more information, please visit
www.MYOSRENS.com.
Forward-Looking Statements
Any statements in
this release that are not historical facts are forward-looking
statements. Actual results may differ materially from those
projected or implied in any forward-looking statements. Such
statements involve risks and uncertainties, including but not
limited to those relating to product and customer demand, market
acceptance of our products, the ability to create new products
through research and development, the successful results of
strategic initiatives, the successful launch of our products,
including Qurr® products and MYOS Enteral
Nutrition Formula, the success of our research and development, the
results of the clinical evaluation of Fortetropin and its effects,
the ability to enter into new partnership opportunities and the
success of our existing partnerships, the ability to generate the
forecasted revenue stream and cash flow from sales of our products,
the ability to continue increasing our revenue and gross profit
margins, the ability to achieve a sustainable, profitable business,
the effect of economic conditions, the ability to protect our
intellectual property rights, competition from other providers and
products, the continued listing of our securities on the Nasdaq
Stock Market, risks in product development, our ability to raise
capital to fund continuing operations, and other factors discussed
from time to time in our filings with the Securities and
Exchange Commission. We undertake no obligation to update or revise
any forward-looking statement for events or circumstances after
the date on which such statement is made except as required by
law.
These statements have not been evaluated by the Food and Drug
Administration. Our products are not intended to diagnose, treat,
cure or prevent any disease.
Investor Relations:
Porter LeVay & Rose
Michael Porter, President
Phone: 212-564-4700
Email: MYOS@plrinvest.com
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SOURCE MYOS RENS Technology