iSonea accelerates commercialisation of asthma devices in U.S., in negotiations with partners

iSonea (ASX: ISN) is focused on securing a major strategic partner to launch, distribute and sell its Acoustic Respiratory Monitoring® products in the U.S. and other key asthma markets as it ramps up towards commercialisation.

The company is in negotiations with several major strategic partner candidates for development and distribution of its products.

Another core objective of iSonea’s commercialisation plan is developing over-the-counter asthma monitoring devices with mobile health capabilities, using iSonea core technology coupled with internet and social media marketing campaigns.

This will lower production costs and should increase sales and distribution capacity.

iSonea also plans to conduct short-duration clinical studies in the U.S. to enable insurance reimbursement for iSonea products.


Acoustic Respiratory Monitoring®

iSonea is focused on supplying innovative, non-invasive Acoustic Respiratory Monitoring® devices and software for disease management of asthma and related pulmonary disorders.

Specific devices have been designed for intermittent or continuous monitoring applications in clinical settings, such as the physician’s office or the hospital intensive care unit, and for consumer use at home, school, playground or work.

The Acoustic Respiratory Monitoring® devices have been cleared for use by the U.S. Food and Drug Administration, the Australian Therapeutic Goods Administration and the European Union CE.


Rights Issue

iSonea’s $4.3 million renounceable rights issue will comprise three new shares for every four held at A$0.005, with one free attaching option for every four new shares accepted, priced at A$0.007 with an expiry of 30 June 2014.

Importantly, the company has received some strong support from the investment community with $3.7 million of the issue to be underwritten.

iSonea will allocate the funding injection to accelerate development and integration of company's products with strategic partners, with the funds also expected to replace the existing convertible note equity draw-down facility negotiated with Bergen Global Opportunity Fund, LP.


U.S. listing for iSonea

Earlier in the month iSonea made another significant step in the transformation of the company with a move to list in the U.S. using American Depositary Receipts, providing a direct market for U.S. investors to gain exposure to iSonea's unique technology.

The company remains on schedule to complete its U.S. listing by the end of 2011.

Originally published at: http://www.proactiveinvestors.com.au/companies/news/22626/isonea-accelerates-commercialisation-of-asthma-devices-in-us-in-negotiations-with-partners--22626.html