May 5, 2020 – Batavia, New York – First Wave Technologies, Inc. (“First Wave,” “FWT” and “Company”), a medical device company developing products for the acute care and long-term care market announces it has executed an Agreement (“The Agreement”) with Vauxhall International Ltd, a Texas-based company that works extensively and exclusively with Heads of State, Foreign Dignitaries, Health Ministers, COVID-19 Task Force Leaders, Government Approved Distributors, and Director Generals of Procurement for the African Continent. The Agreement provides First Wave an opportunity to gain entry to the continent of Africa and its 1B Population for its suite of Medical Devices, specifically its proprietary, disruptive IsoVENT™ ventilator for use throughout Africa to help with COVID-19 public health emergency efforts. First Wave submitted a request with the Food and Drug Administration (“FDA”) and is currently under review for Emergency Use Authorization (“EUA”) to manufacture and sell its IsoVENT™ ventilator during the Coronavirus Disease (COVID-19) public health emergency. First Wave recently announced that, assuming its request for an EUA is granted by the FDA and the ventilators can be made available for use during the public health emergency, it will work with Canon Virginia, Inc. (”CVI”), a wholly-owned subsidiary of Canon U.S.A., Inc., engaged in engineering and manufacturing operations to manufacture the IsoVENT™ ventilators.
Brian Bell, CEO of First Wave Technologies stated, “Vauxhall is a great addition to our team and significantly expands our capabilities in addressing the COVID-19 public health crisis.”
Helen Alfa, Vauxhall International Managing Director and Partner, stated, “The IsoVENT™ ventilator is the kind of disruptive technology that Vauxhall strives to introduce globally, especially in Africa. We look forward to working with First Wave as they join our mission to positively impact societies, improve patient outcomes, save lives, and reduce overall healthcare costs while improving economics for all.”
About First Wave Technologies
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 https://firstwavetechnologies.com
About Vauxhall International Ltd
Vauxhall International Ltd, a partner company of Alfa Solutions Inc., (www.alfapsonline.com) is an advisory firm offering international access to the African market. Our company is in the business of offering entry to the relevant decision-makers, market approach and risk analysis to ensure clear business dealings for the benefit of our clients, their projects and markets that they are interested in. This ensures availability of critical business, market and political information, in the process enabling our clients to take advantage of a myriad of business opportunities that have the potential of yielding significant and profitable results. For more information please visit www.vauxhill-international.com
About Canon U.S.A., Inc.
Canon U.S.A., Inc., is a leading provider of consumer, business-to-business, and industrial digital imaging solutions to the United States and to Latin America and the Caribbean markets. With approximately $33 billion in global revenue, its parent company, Canon Inc. (NYSE:CAJ), ranks third overall in U.S. patents granted in 2019 and is one of Fortune Magazine’s World’s Most Admired Companies in 2020. Canon U.S.A. is dedicated to its Kyosei philosophy of social and environmental responsibility. To keep apprised of the latest news from Canon U.S.A., sign up for the Company’s RSS news feed by visiting www.usa.canon.com/rss and follow us on Twitter @CanonUSA.
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.
President, Investor Relations
Zimmons International Communications, Inc.
Phone: +1 917.214.3514
E-mail: jzimmons@zimmonsic.com
This press release contains forward-looking information that involves various risks and uncertainties regarding future events related to our IsoVENT™ ventilator and our partnership with Canon. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements and are not guarantees of future performance of the Company. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. These forward-looking statements reflect management’s current views and are based on certain expectations, estimates and assumptions which may prove to be incorrect. A number of risks and uncertainties could cause our actual results to differ materially from those expressed or implied by the forward-looking statements, including:
(1) a downturn in general economic conditions in North America and internationally, (2) the inherent uncertainties and speculative nature associated with the development and commercialization of technology and the practice of medicine, (3) a change in health regulations, (4) any number of events or causes which may delay or cease commercialization and development of the IsoVENT™ device, (5) the risk that the Company does not execute its business plan or that the companies engaged to develop and obtain regulatory approval for the IsoVENT™ ventilator do not execute their plans, (6) inability to retain key employees, (7) inability to finance operations and growth, (8) the IsoVENT™ ventilator has not been cleared or approved for sale in the United States by the FDA and therefore is not currently available for sale in the United States. Although First Wave has submitted a request for Emergency Use Authorization (“EUA”) to the FDA with regard to the IsoVENT™ ventilator, there can be no assurance that the EUA will be granted so that the IsoVENT™ ventilators may be made available for sale in the United States or if granted, the EUA will not be terminated by the FDA and (9) other factors beyond the Company’s control. These forward-looking statements are made as of the date of this news release and, except as required by law, the Company assumes no obligation to update these forward-looking statements, or to update the reasons why actual results differed from those projected in the forward-looking statements.
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