dazetrader
4 years ago
NEWS! Health-Canada issued Class-II Medical Device License!
Cell MedX Corp.'s eBalance Home System Receives Class II Medical Device License from Health Canada
Carson City, Nevada--(Newsfile Corp. - July 22, 2020) - Cell MedX Corp. (OTCQB: CMXC) ("Cell MedX" or the "Company"), a bio-tech company focusing on the discovery, development and commercialization of therapeutic and non-therapeutic products that promote general health and wellness, is happy to announce that on July 17, 2020, Health Canada granted Cell MedX (Canada) Corp., the Company's wholly-owned subsidiary, a Class II Medical Device License for its innovative eBalance Home System.
The License #104925 was issued in accordance with the Medical Device Regulations, Section 36.
eBalance Home System
The eBalance Home System is a non-invasive, fully automated microcurrent electrotherapy system that administers pre-programmed algorithms through the epidermis with the touch of a button. The eBalance Home System includes the eBalance Console which acts as the central controller for three (3) pre-programmed microcurrent algorithms (Wellness, Pain Management, & Dual) referred to as Treatment Options. Treatments are administered using Hand Bars and Foot Plates along with the proprietary ePro Gel specially formulated to aid in the conduction of microcurrent. The general wellness and pain management treatment duration and treatment intensity are controlled by the eBalance Console. The eBalance Home System is a safe, effective, easy-to-use therapeutic option for those wanting to use frequency-specific microcurrent for pain relief and general relaxation at home.
Frank McEnulty, the Company's CEO and Director, stated, "An important key aspect of our mission is to promote healthier lifestyles that offer individuals the opportunity to live their best lives through wellness, and with the Class II Medical License for our eBalance Home System we gained a wider avenue to serve our community."
About Cell MedX Corp.
Cell MedX Corp. is an early development stage bio-tech company focused on the discovery, development and commercialization of therapeutic and non-therapeutic products that promote general health and wellness and alleviate complications associated with medical conditions including, but not limited to, diabetes, Parkinson's disease, and high blood pressure. For more information about the Company and its technology please visit our website at: www.cellmedx.com, for the Company's newsletter, please go to www.cellmedx.com/media/newsletters/
On behalf of the Board of Directors of Cell MedX Corp.
Frank McEnulty
CEO, Director
Forward Looking Statements
The information included in this press release has not been reviewed by the FDA or Health Canada, nor has it been peer reviewed. This press release contains forward-looking statements. Forward-looking statements are subject to risks, uncertainties and assumptions and are identified by words such as "expects", "intends", "estimates", "projects", "anticipates", "believes", "could", and other similar words. All statements addressing product performance, events, or developments that the Company expects or anticipates will occur in the future are forward-looking statements. Because the statements are forward-looking, they should be evaluated in light of important risk factors and uncertainties, some of which are described in the Company's Quarterly, and Annual Reports filed with the United States Securities and Exchange Commission (the "SEC"). Should one or more of these risks or uncertainties materialize, or should any of the Company's underlying assumptions prove incorrect, actual results may vary materially from those currently anticipated. In addition, undue reliance should not be placed on Company's forward-looking statements. In particular, the Company's eBalance® technology is still in development. Except as required by law, Cell MedX Corp. disclaims any obligation to update or publicly announce any revisions to any of the forward-looking statements contained in this press release. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. No stock exchange, securities commission or other regulatory body has reviewed nor accepts responsibility for the adequacy or accuracy of this release. Investors are advised to carefully review the reports and documents that Cell MedX Corp. files from time to time with the SEC, including its Annual, Quarterly and Current Reports.
SOURCE:
Cell MedX Corp.
For further information visit: www.cellmedx.com.
Investor Relations: 1-310-409-6614
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To view the source version of this press release, please visit https://www.newsfilecorp.com/release/60249
copyright (c) newsfile corp. 2020
Source: Newsfile Corp. (July 22, 2020 - 8:00 AM EDT)
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https://www.newsfilecorp.com/release/60249/Cell-MedX-Corp.s-eBalance-Home-System-Receives-Class-II-Medical-Device-License-from-Health-Canada
July 22, 2020 - 8:00 AM EDT
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davidsson10
4 years ago
Cell MedX Corp. Reacquires World Wide Exclusivity Rights for the eBalance(R) Device
Carson City, Nevada--(Newsfile Corp. - January 30, 2020) - Cell MedX Corp. (OTCQB: CMXC) (MUN: 9CX) ("Cell MedX" or the "Company"), a biotech company focusing on the discovery, development and commercialization of therapeutic and non-therapeutic products that promote general wellness, is pleased to announce that the Company has repurchased the worldwide exclusive direct rights for distribution of its eBalance® devices.
Cell MedX identified two distribution market channels for sales of the eBalance® device, individual rights for home based use ("Direct Rights") and wholesale rights for use by clinics, doctors and practitioners ("Wholesale Rights"). On March 21, 2019, the Company entered into a definitive agreement granting Live Current Media Inc. ("LIVC") worldwide exclusive Direct Rights to the eBalance® device. For additional information please refer to the news release disseminated on March 27, 2019.
LIVC's decision to concentrate its efforts on the eSports Industry created an opportunity for the Company to reacquire the Direct Rights from LIVC. By reacquiring the Direct Rights, Cell MedX can assure that proper time and dedication is put towards customer service while at the same time giving the Company greater flexibility with its sales and marketing program.
In order to reacquire the Direct Rights Cell MedX agreed to pay LIVC a royalty on all sales of the eBalance® device up to an aggregate USD$507,500 calculated as follows;
$25 per eBalance® device sold by Cell MedX. This royalty will cease after the sale of 3,500 eBalance® devices, resulting in a total royalty of USD$87,500
$5 per month for each eBalance® device generating recurring monthly revenue, up to an aggregate royalty of USD$420,000
The above payments are to be made quarterly
If the recurring monthly revenue is changed or cancelled then Cell MedX will pay USD$145 per eBalance® device sold to an aggregate of USD$507,500.
In addition to the royalty, Cell MedX agreed to issue to LIVC share purchase warrants entitling LIVC to purchase up to two million (2,000,000) common shares of Cell MedX (the "CMXC share") as follows;
A warrant to acquire up to one million (1,000,000) CMXC shares at USD$0.50 per CMXC share (the "First Warrant")
A warrant to acquire up to one million (1,000,000) CMXC shares at USD$1.00 per CMXC share (the "Second Warrant")
The First Warrant and the Second Warrant expire three years after the issuance (the "Warrant Term")
Cell MedX shall have the right, but not an obligation, to accelerate the expiry date of the warrants. The First Warrant may be accelerated in case where the weighted average closing price (the "WACP") of the CMXC shares over any 30 consecutive trading day period that the CMXC shares trade on the OTC Market, or such other principal stock exchange or market, is equal to or greater than USD$1.00 per share. The Second Warrant may be accelerated when the WACP is equal to or greater than USD$1.75 per share. LIVC will have 30 days to exercise the warrants once LIVC receives an acceleration notice from CMXC.
MjMilo
5 years ago
There has been no fundamental breakthrough in diabetes therapy since the discovery of insulin.
Diabetes management entails administration of insulin in combination with careful blood glucose monitoring (Type 1) or involves the adjustment of diet and exercise level, the use of oral anti-diabetic drugs, and insulin administration to control blood sugar (Type 2).
Self-monitoring of blood sugars using a portable, personal device that takes a small blood sample obtained with a tiny finger lancet. Using such a device, tight glycemic control (TGC) becomes possible, as an adjunct to insulin therapy, either injected or delivered via a wearable insulin pump. This technology-enabled self-care model has been shown to reduce complications and improve the quality of life in T1DM. Replicating these results in T2DM has been challenging, largely reflecting the heterogeneous nature of the disease and the fact that it changes with increasing age and other factors. Implantable sensors that measure blood glucose continually have come into practice more recently.
The value of self-monitoring enablement using electronic devices, including the next generation of wearable health appliances, is aided by incorporating decision support algorithms and other intelligent information technology tools. The concept of the “artificial pancreas” combines glucose sensing technologies with automated insulin delivery by pump, with software based decision making interposed so that the former drives the latter (fully automated feedback loop). Such systems are under development but have not yet made their way to market.
In the absence of a cure, the goal of diabetes management is to alter the natural course of the disease by reducing the likelihood of complications by eliminating the wide fluctuations in blood sugar that define the disease. The toolset to do so is currently limited.
Energy medicine currently represents only a small fraction of 1% of the $2.2 trillion healthcare industry. A new era is dawning in the management of chronic illness. Striking clinical and scientific findings indicate that energy (electro) medicine is the future of medicine. Energy medicine is based on the supposition that illness results from disturbances in the body’s energies and energy fields.
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