DGAP-News: Nanotech Systems Inc.: License Agreement Reached for EU rights to Chronic Pain Management Protocol
(firmenpresse) - DGAP-News: Nanotech Systems Inc. / Key word(s): Agreement
Nanotech Systems Inc.: License Agreement Reached for EU rights to
Chronic Pain Management Protocol
13.11.2013 / 09:00
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Nanotech Systems Inc.
November 13, 2013
License Agreement Reached for EU rights to Chronic Pain Management Protocol
Vancouver, BC, Canada - Nanotech Systems, Inc. ('NSI') is pleased to
announce that a binding Memorandum of Understanding has been reached with
Champion Care Corp. ('Champion'), located in Toronto, Canada, that grants
NSI the European rights to Champion's chronic pain management system.
Chronic pain
Chronic pain is the primary reason patients seek medical care. Globally,
more than 1.5 Billion people live with chronic pain. In 2007, the global
pain management market was in excess of US$46 Billion (EUR33 Billion)
including US$20 Billion (EUR24 Billion) for drugs alone. The projected
global pain management market in 2015 is expected to reach US$60 Billion
(EUR43 Billion) by 2015 including $35 Billion (EUR25 Billion) for drugs
alone. An increasing proportion of older people in all populations is
creating strong demand for additional pain management services.
Current treatments
Existing medical options often involve questionable treatments and
expensive, frequently addictive or harmful prescription drugs. Patients are
fearful of medications that may be required in ever-increasing amounts and
are seeking alternatives. Governments are taking strong action against the
overuse of prescription drugs and are enforcing rigourous compliance.
Health care systems are financially overburdened, in some cases, to the
brink of collapse. Funding agencies are seeking new approaches to increase
competitiveness, cut costs and provide better patient care.
The Protocol - a new approach
The Protocol is a new, proprietary medical approach for the treatment and
management of chronic pain, a debilitating condition which inhibits normal
pain messaging to the brain. If the pain lasts for an extended period,
generally 8 weeks, it causes a reduction in the concentration of natural
pain killers ('NPK's') such as endorphins, in the brain and spinal fluids.
Existing medical interventions generally treat symptoms by masking pain
with powerful drugs such as Oxycodone, Vicodin and Morphine and do not
promote the restoration of normal brain chemistry. The Protocol, using
accurate testing and diagnosis, irritant identification, inflammation
reduction, behavioural changes and carefully planned use and control of
existing medications, appears to restore normal brain chemistry. The
Protocol results in overall decreases and, in some case, elimination of
prescription medications, provides better relief from chronic pain, reduces
long term disabilities and costs, delivers successful management of chronic
pain and provides better efficacy than existing medical options. Many
patients experience improvements in their quality of life and a return to
better activity levels. Reduction of chronic pain provides financial relief
to funding agencies by removing the burden of life-long support for many of
their clients and to patients through improvements to their quality of
life.
The market
Our research has established that the US market for private pain management
clinics is over US$6 Billion (EUR4.3Billion). With a similar sized
population and the knowledge that chronic pain is a world-wide problem, the
market potential for the EU is considered to be similar to that of the US.
Business model
Champion has licensed the Protocol to a company in the US that Champion
owns, Champion Pain Care Corp. ('CPCC'). CPCC is completing a listing on
the OTC market in the US by taking over OICco I Acquisition, Inc. ('OICco).
CPCC has reached agreements to acquire a number of pain management clinics
in the US. More information is available on CPCC, the Protocol and the
share exchange agreement on the website for the US SEC at:
http://www.sec.gov/Archives/edgar/data/1469284/000138713113003904/00013871
31-13-003904-index.htm.
As described below, Champion has established a Memorandum of Understanding
with NSI that will allow NSI pursue pain management business in Europe.
The Memorandum of Understanding
NSI will be granted the rights to the Protocol for all of Europe ('the
Territory') by Champion in exchange for a controlling interest in NSI. NSI
will enter into licensing, joint venture and acquisition agreements with
clinics that provide pain management services under the direction of
physicians who are properly licensed to practice medicine and qualified to
treat patients using the Protocol in the Territory.
NSI will also take any other actions that are required to develop the
business of pain management in the Territory, as permitted by the
regulations enforced by the applicable governments within the Territory and
in accordance with the standards established by Champion. For example NSI
will be seeking to establish pharmacies, drug testing laboratories and
rehabilitation facilities, enter into contracts and agreements with funding
agencies, securing internationally recognized accreditation from CARF
International and introduce validated new medical treatments.
Under the terms of the Memorandum of Understanding, NSI will be
restructuring and securing new funding in order to pursue a listing on a
European stock exchange. While the restructuring is in progress, NSI is
permitted to undertake market research and enter into agreements with pain
management specialists and clinics in order to develop its business as
quickly as possible.
About Nanotech Systems, Inc.
NSI is a private corporation based in Ontario, Canada that is focused on
the delivery of market-ready medical technologies for the European market.
About Champion Care Corp.
Champion developed the Protocol over a period of 5 years. This treatment
program for chronic pain results in significant decreases in drug
dependence in patients, better relief from chronic pain of all types,
reduction of long term disabilities and lower costs for the funding
agencies. Champion has delivered successful management of chronic pain and
has provide better results than has been seen with the existing medical
options.
Patients have experienced significant positive outcomes such as a reduction
of prescription, medications, a reduction of pain, greatly improved sleep
and a much better quality of life where when all other therapies have
failed.
This press release is for informational purposes only and does not
constitute, or form part of, an offer to buy or a solicitation of any offer
to sell any securities in any jurisdiction nor shall it (or any part of
it), or the fact of its distribution, form the basis of or be relied on in
connection with any contract therefore.
End of Corporate News
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