BTC secures exclusive distribution rights for NEOLA® from GPX Medical

BTC health (ASX:BTC) is pleased to announce its investee company, BioImpact Pty Ltd, has secured exclusive distribution rights from GPX Medical AB (publ) (Nasdaq First North: GPXMED) for NEOLA® in Australia, New Zealand and Singapore. NEOLA® is an innovative, safe and non-invasive medical device which continuously measures lung volume changes and oxygen gas concentration in the lungs of preterm born infants with the possibility of instantly detecting complications. This means that health care professions are alerted to problems in real time and can treat infants right away, a significant advancement in care monitoring and management of preterm infants.

GPX Medical is expected to obtain Conformité Européene (CE) approval in 2023, enabling NEOLA® to be marketed and sold in Europe. Following CE approval, BTC will apply to the Therapeutic Goods Association (TGA) in Australia and Medsafe in NZ for product registration leading to commercial launch in Australia and New Zealand. In return for exclusive distribution rights, BTC will invest in product evaluation and premarket trials, enabling neonatologists to evaluate and trial NEOLA® in a clinical setting. BTC anticipates NEOLA® will be approved and available for sale in Australia within 12 months of GPX Medical achieving CE approval.