Vivos, Inc. (OTC Pink: RDGL) is a pharmaceutical company focused on the research and development of minimally invasive treatments for the treatment of cancer in humans and animals. Shares jumped 24.14% through early trading on Friday, January 11, 2019. Over the past month, Vivos has seen an average daily volume of 8,634,552 shares. However, through Friday morning, already 17.82 million shares have traded hands, equating to $128,270 in dollar volume.
Shares surged Friday morning after Vivos announced that the FDA Center for Veterinary Medicine (CVM) has extended the range of uses for its IsoPet® device. The device classification was initially limited to canine and feline sarcomas but has now been “extended to a much broader population of veterinary cancers, essentially all solid tumors in animals.” IsoPet® utilizes “the same technology as RadioGel™ for treating humans.” Dr. Mike Korenko, CEO of Vivos, commented, “We intend to continue with our strategy of partnering with university veterinary hospitals to generate additional data on the safety and effectiveness of IsoPet® therapy in order to enhance the confidence of the veterinary medicine community.” Here is the full press release detailing the expanded device classification:
Vivos, Inc. Press Release:
Richland WA, Jan. 11, 2019 (GLOBE NEWSWIRE) — Vivos, Inc. (OTCPINK: RDGL), announced that the device classification obtained from the FDA Center for Veterinary Medicine (CVM) is not limited to canine and feline sarcomas, and can be extended to a much broader population of veterinary cancers, essentially all solid tumors in animals.
A review by the international law firm, Hogan-Lovells, who are premier experts on FDA matters, confirmed the broader application of the FDA’s veterinary device classification. While the FDA does not have premarket authority over veterinary devices (i.e., products classified as a device can be brought to market without first being reviewed by the FDA) the manufacturer is responsible for assuring that the product is safe, effective, properly labeled, and otherwise in compliance with all applicable laws and regulations.
It is the company’s responsibility to maintain a strict configuration control of the product and product labeling, including applicable indications for use, to stay within the bounds of the FDA regulations. We have prepared a formal Memorandum to File to document our systematic interpretation of the regulations and our disciplined process for assuring compliance with FDA requirements.
Dr. Mike Korenko, Vivos Inc CEO stated “With this significant development we are confident that there are no regulatory obstacles to treating a wide range of tumors in animals. We intend to continue with our strategy of partnering with university veterinary hospitals to generate additional data on the safety and effectiveness of IsoPet® therapy in order to enhance the confidence of the veterinary medicine community. We will also ensure that future users obtain our certified training to administer IsoPet® according to the procedures defined in our product labeling.”
About Vivos Inc. (OTC: RDGL)
Vivos, Inc. is a pharmaceutical company researching and developing minimally invasive treatments to combat cancer in humans and animals. It has developed an Yttrium-90 based brachytherapy injectable device, for the treatment of tumors in animals (IsoPet®) and in humans (Radiogel™). Brachytherapy uses highly localized radiation to destroy cancerous tumors by placing a radioactive isotope directly inside the treatment area using the company’s proprietary hydrogel formulation. The injection delivers therapeutic radiation from within the tumor without the entrance skin dose and associated side effects of treatment that characterize external-beam radiation therapy. This feature allows safe delivery of higher doses needed for treating both non-resectable and radiation-resistant cancers.
IsoPet® for treating animals uses the same technology as RadioGel™ for treating humans. The Food and Drug Administration advised using different product names in order to avoid confusion and cross-use.
IsoPet® is a hydrogel liquid containing tiny yttrium-90 phosphate particles that may be administered directly into a tumor. This hydrogel is an yttrium-90 carrier at room temperature that gels within the tumor interstitial space after injection to keep the radiation source safely in place. The short-range beta radiation from yttrium-90 localizes the dose within the treatment area so that normal organs and tissues are not adversely affected.
IsoPet® also has a short half-life – delivering more than 90% of its therapeutic radiation within 10 days. This compares favorably to other available treatment options requiring up to six weeks or more to deliver a full course of radiation therapy. Therapy can be safely administered as an out-patient procedure and the patient may return home without subsequent concern for radiation dose to the family.
The IsoPet® Solutions division is using university veterinary hospitals to demonstrate the safety and therapeutic effectiveness for different animal cancers. The testing on feline sarcoma at the Washington State University is completed and the testing on canine soft tissue sarcomas at the University of Missouri is currently underway.
The Company recently obtained confirmation from the FDA Center for Veterinary Medicine that IsoPet® is classified as a device according to its intended use and means by which it achieves its intended purpose. The FDA also reviewed the product labeling which included canine and feline sarcomas as the initial indications for use. FDA does not require pre-market approval for veterinary devices so no additional approval is required for treating skin cancer, which is the largest market sector. Following this demonstration phase, Vivos can begin to generate revenues through the sale of IsoPet® to University animal hospitals and private veterinary clinic consortiums.
The Company is also engaging the FDA for premarket clearance to market RadioGel™ for the treatment of advanced basal and squamous cell skin cancers in humans.
Safe Harbor Statement
This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. You can identify these statements by the use of the words “may,” “will,” “should,” “plans,” “expects,” “anticipates,” “continue,” “estimates,” “projects,” “intends,” and similar expressions. Forward-looking statements involve risks and uncertainties that could cause results to differ materially from those projected or anticipated. These risks and uncertainties include, but are not limited to, the Company’s ability to successfully execute its expanded business strategy, including by entering into definitive agreements with suppliers, commercial partners and customers; general economic and business conditions, effects of continued geopolitical unrest and regional conflicts, competition, changes in technology and methods of marketing, delays in completing various engineering and manufacturing programs, changes in customer order patterns, changes in product mix, continued success in technical advances and delivering technological innovations, shortages in components, production delays due to performance quality issues with outsourced components, regulatory requirements and the ability to meet them, government agency rules and changes, and various other factors beyond the Company’s control.
Article By: Andrew Rego