Eternity Healthcare, Inc. (OTC Pink: ETAH) is engaged in the development, manufacturing, sale of medical devices in Canada. The company’s flagship medical device is a needle-free injection system that could have a variety of treatment applications. However, shares of the medical device company are under pressure 17.53% during early trading on Tuesday, January 10, 2017. Over the past three months, Eternity Healthcare, Inc. has seen average daily volume of 152,858 shares. However, volume of 953,240 shares or dollar volume of $133,453, has already exchanged hands in early trading Tuesday.
Shares of Eternity Healthcare, Inc. are under pressure Tuesday, after the company announced that its needle-free injector, Lenis, has received its first regulatory approval. European regulators have awarded the company and its device with a CE Certification, which helps Lenis near ability to begin generate sales. Here is the full press release detailing of the regulatory approval:
Eternity Healthcare, Inc. Press Release:
PHOENIX and VANCOUVER, B.C., Jan. 10, 2017 (GLOBE NEWSWIRE) — Eternity Healthcare, Inc. (ETAH), announces first regulatory approval of its Lenis®, Needle-Free Injector.
“CE Certification opens the door for regulatory approval in the EU as well as other countries that follow the EU. I couldn’t be more excited about this development that moves us closer to sales. It was also encouraging to see our Device exceeded design goals,” said Hassan Salari, President & CEO
The Lenis® injector concluded rigorous testing with major ISO auditing company (SGS of Great Britain) and passed all requirements for approval. The Lenis® Needle-Free Injection system has four major components that each will require individual testing to satisfy regulatory approval. The main component of the system, the injector, has already been approved under CE Certification. The approval of the other three lesser components is next and underway.
“We believe Lenis® will revolutionize medical injections, removing patient fear of needles along with substantial reduction in cost per injection. The injection systems market is currently estimated at $9.8 Billion for 2016 and expected to grow at 15.5% until reaching $20.17 Billion in size by 2021. Unlike our competition, our design allows for delivery of higher doses, meaning Lenis® could be used with traditional needles and syringes used worldwide. We’re confident we have a superior technology,” said Dr. Salari.
Needle-Free Injection System Applications
The Needle-Free Injection system can be used for a vast variety of injectable medications, and supplements. These include injection of Insulin for diabetes, injection of vaccines such as flu vaccine and many others, injection of steroids, vitamins, human growth hormones, infertility medications and a vast number of cancer drugs. Further applications such as injection of epinephrine might replace Auto-Injectors such as Mylan’s Epipen®.
Benefits of Needle-Free Injection System
The Needle-Free Injection system has many advantages over the existing needle injection. These include being environmentally friendly and reducing the risk of accidental poking and cross contamination. Further, the Needle-Free Injection device is good for children and people with needle phobia. It is easy to discard the used syringes as well as to recycle them.
About Eternity Healthcare, Inc.
Eternity Healthcare or the “Company” (ETAH) is a healthcare company with technologies in medical devices. Our most advanced product is a Needle-Free Injection system known as Lenis®. Our products are targeted for use by the healthcare professionals, physicians and consumers directly. More information on Eternity Healthcare, visit the Company’s website; www.eternityhealthcare.com