Nanotech Systems Inc.
Nanotech Systems Inc.: License Agreement Reached for EU rights to Chronic Pain Management Protocol
Nanotech Systems Inc. / Key word(s): Agreement Nanotech Systems Inc. License Agreement Reached for EU rights to Vancouver, BC, Canada – Nanotech Systems, Inc. (‘NSI’) is pleased to announce that a binding Memorandum of Understanding has been reached with Champion Care Corp. (‘Champion’), located in Toronto, Canada, that grants NSI the European rights to Champion’s chronic pain management system. Chronic pain Chronic pain is the primary reason patients seek medical care. Globally, more than 1.5 Billion people live with chronic pain. In 2007, the global pain management market was in excess of US$46 Billion (EUR33 Billion) including US$20 Billion (EUR24 Billion) for drugs alone. The projected global pain management market in 2015 is expected to reach US$60 Billion (EUR43 Billion) by 2015 including $35 Billion (EUR25 Billion) for drugs alone. An increasing proportion of older people in all populations is creating strong demand for additional pain management services. Current treatments Existing medical options often involve questionable treatments and expensive, frequently addictive or harmful prescription drugs. Patients are fearful of medications that may be required in ever-increasing amounts and are seeking alternatives. Governments are taking strong action against the overuse of prescription drugs and are enforcing rigourous compliance. Health care systems are financially overburdened, in some cases, to the brink of collapse. Funding agencies are seeking new approaches to increase competitiveness, cut costs and provide better patient care. The Protocol – a new approach The Protocol is a new, proprietary medical approach for the treatment and management of chronic pain, a debilitating condition which inhibits normal pain messaging to the brain. If the pain lasts for an extended period, generally 8 weeks, it causes a reduction in the concentration of natural pain killers (‘NPK’s’) such as endorphins, in the brain and spinal fluids. Existing medical interventions generally treat symptoms by masking pain with powerful drugs such as Oxycodone, Vicodin and Morphine and do not promote the restoration of normal brain chemistry. The Protocol, using accurate testing and diagnosis, irritant identification, inflammation reduction, behavioural changes and carefully planned use and control of existing medications, appears to restore normal brain chemistry. The Protocol results in overall decreases and, in some case, elimination of prescription medications, provides better relief from chronic pain, reduces long term disabilities and costs, delivers successful management of chronic pain and provides better efficacy than existing medical options. Many patients experience improvements in their quality of life and a return to better activity levels. Reduction of chronic pain provides financial relief to funding agencies by removing the burden of life-long support for many of their clients and to patients through improvements to their quality of life. The market Our research has established that the US market for private pain management clinics is over US$6 Billion (EUR4.3 Billion). With a similar sized population and the knowledge that chronic pain is a world-wide problem, the market potential for the EU is considered to be similar to that of the US. Business model Champion has licensed the Protocol to a company in the US that Champion owns, Champion Pain Care Corp. (‘CPCC’). CPCC is completing a listing on the OTC market in the US by taking over OICco I Acquisition, Inc. (‘OICco). CPCC has reached agreements to acquire a number of pain management clinics in the US. More information is available on CPCC, the Protocol and the share exchange agreement on the website for the US SEC at: http://www.sec.gov/Archives/edgar/data/1469284/000138713113003904/0001387131-13-003904-index.htm. As described below, Champion has established a Memorandum of Understanding with NSI that will allow NSI pursue pain management business in Europe. The Memorandum of Understanding NSI will be granted the rights to the Protocol for all of Europe (‘the Territory’) by Champion in exchange for a controlling interest in NSI. NSI will enter into licensing, joint venture and acquisition agreements with clinics that provide pain management services under the direction of physicians who are properly licensed to practice medicine and qualified to treat patients using the Protocol in the Territory. NSI will also take any other actions that are required to develop the business of pain management in the Territory, as permitted by the regulations enforced by the applicable governments within the Territory and in accordance with the standards established by Champion. For example NSI will be seeking to establish pharmacies, drug testing laboratories and rehabilitation facilities, enter into contracts and agreements with funding agencies, securing internationally recognized accreditation from CARF International and introduce validated new medical treatments. Under the terms of the Memorandum of Understanding, NSI will be restructuring and securing new funding in order to pursue a listing on a European stock exchange. While the restructuring is in progress, NSI is permitted to undertake market research and enter into agreements with pain management specialists and clinics in order to develop its business as quickly as possible. About Nanotech Systems, Inc. NSI is a private corporation based in Ontario, Canada that is focused on the delivery of market-ready medical technologies for the European market. About Champion Care Corp. Champion developed the Protocol over a period of 5 years. This treatment program for chronic pain results in significant decreases in drug dependence in patients, better relief from chronic pain of all types, reduction of long term disabilities and lower costs for the funding agencies. Champion has delivered successful management of chronic pain and has provide better results than has been seen with the existing medical options. Patients have experienced significant positive outcomes such as a reduction of prescription, medications, a reduction of pain, greatly improved sleep and a much better quality of life where when all other therapies have failed. This press release is for informational purposes only and does not constitute, or form part of, an offer to buy or a solicitation of any offer to sell any securities in any jurisdiction nor shall it (or any part of it), or the fact of its distribution, form the basis of or be relied on in connection with any contract therefore. End of Corporate News 13.11.2013 Dissemination of a Corporate News, transmitted by DGAP – a company of EQS Group AG. The issuer is solely responsible for the content of this announcement. DGAP’s Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de |
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