August 23, 2021 – Batavia, New York – First Wave Technologies, Inc. (“First Wave” and “company”), announces that the company has received a Notice of Allowance from the United States Patent and Trademark Office (USPTO) pertaining to the company’s third-generation anesthesia system – Clarity-IA®. The patent application, titled “Device and Method to Compensate for Air Leak from an Anesthesia Circle Circuit” (US Patent No. 16/263,749), upon granting, will enable First Wave to significantly expand the addressable market for Clarity-IA. The patent is also pending on a worldwide basis.

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Clarity-IA®

 

The patent covers a unique method of compensation for potential air leaks that may occur in the patient circuit. The design of the patent offers a more efficient solution, thereby eliminating the technical complexity and additional costs associated with addressing air leaks using more traditional electronic methods.

Furthermore, the patent holds additional value by:

  • Greatly expanding the addressable market in inhaled anesthesia to include more cost-conscious segments
  • Ensuring that clinical focus can be centered on managing patient care
  • Significantly extending the company’s patent coverage for Clarity-IA into future years

To date, Clarity-IA has 58 patents and applications that cover a broad spectrum of design, engineering, and safety features to support the most optimal platform for inhaled drug delivery. The current patent was awarded in conjunction with Texas Tech University.

First Wave’s Chief Executive Officer and Director, Brian Bell, stated, “We are pleased to be working with the Texas Tech University System, who collaborated with us in developing the technology that was recently patented. We believe that the patent, particularly as it pertains to air leakage, plays a vital role in product performance, especially as the use environment for inhaled anesthetics is expanded within the hospital setting. The patent further differentiates Clarity-IA, truly making it a state-of-the-art, next-generation anesthesia system that expands opportunities for the use of inhaled anesthetics.”

About First Wave Technologies, Inc.
First Wave Technologies, Inc. is a medical device company developing products for the acute care and long-term care market. The focus is to disrupt areas of healthcare with innovative products which have not seen meaningful change historically for the improvement of patient care. Current products are centered around improving the ease and accuracy of pharmaceutical delivery. For more information, please visit www.firstwavetechnologies.com.

About Texas Tech Office of Research and Communication
The staff of the Office of Research Commercialization is dedicated to bringing Texas Tech innovations to the marketplace. Our team of professionals manages the licensing of intellectual property to outside business. We also can help with faculty and/or student-led startup companies. For more information, please visit https://www.depts.ttu.edu/research/commercialization.

Forward Looking Statements
This press release includes forward-looking statements including, but not limited to, statements related to the development of our technology, our operations and business strategy, our expected financial results, and corporate updates. The forward-looking statements contained in this press release are based on management’s current expectations and are subject to substantial risks, uncertainty and changes in circumstances. Actual results may differ materially from those expressed by these expectations due to risks and uncertainties. Forward-looking statements speak only as of the date of this press release, and we undertake no obligation to review or update any forward-looking statement except as may be required by applicable law.

Corporate Contact:
Brian Bell
Chief Executive Officer and Director
First Wave Technologies, Inc.
99 MedTech Dr.
Batavia, New York 14020
Phone: +1 877.784.0269

E-mail: info@firstwavetechnologies.com

Investor Contact:
Jennifer K. Zimmons, Ph.D., MBA
Investor Relations
Zimmons International Communications, Inc.
Phone: +1.917.214.3514
E-mail: jzimmons@zimmonsic.com

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