Therma Bright Inc Stock Price, News & Analysis

Therma Bright announces successful Medicare and Medicaid HCPCS Level II code reimbursements for its Venowave VW5 device through U.S. distribution partners within 60 days. Out of 110 units deployed in pilot tests since October 1, 2024, 25 units have received full reimbursement through commercial health networks or Medicare/Medicaid.

The Venowave VW5, qualifying for reimbursement under 10 medical indications, is a battery-operated peristaltic pump enhancing vascular and lymphatic flow in lower limbs. The FDA-designated Durable Medical Equipment device operates on a rechargeable battery and allows treatment during activity.

The company has begun discussions regarding sales roadmap and manufacturing schedules with distributors, while terminating previously announced private placement financings from September 27, 2024.

Therma Bright Inc. (TSXV: THRM) (OTCQB: TBRIF) has announced plans to spin off its Consumer Product Portfolio into a separate publicly traded company. The transaction, expected to complete in the first half of 2025, aims to enhance shareholder value and operational focus. The consumer portfolio will include TheroZap insect bite therapy device, InterceptCS cold sore prevention system, Benepod pain relief device, and AcuVid Covid-19 rapid antigen test. Shareholders will receive pro-rata distribution of shares in the new company. The AGM has been deferred until June 30, 2025, to align with the spin-off approval process.

Therma Bright announces a strategic partnership between its investment partners InStatin and InVixa. InVixa will assign its exclusive worldwide licensing agreement for inhaled statin solutions to InStatin, pending University of California, Davis approval. InStatin will issue 160,000 shares to InVixa shareholders, increasing Therma Bright's stake to approximately 20%. InStatin is initiating a Series A funding round to advance its statin inhalant solution for asthma and COPD. The global asthma treatment market is projected to reach $30.1 billion by 2030, while the lung disease therapeutics market is expected to grow from $83.4 billion in 2023 to $152.4 billion by 2033.

Therma Bright Inc. (TSXV: THRM) (OTCQB: TBRIF) announces that its investment portfolio company, InStatin, has secured an agreement with Mountain West Research for a non-GLP discovery study. This study will investigate the pharmacokinetics of InStatin's innovative statin inhalant solution for asthma and COPD treatment.

The research aims to provide insights for targeting the delivery of active pharmaceutical ingredients (API) in the lungs, supporting the development of InStatin's therapeutic solution. This pre-clinical study is a important step towards Phase 1 human trials.

Therma Bright owns 17% of InStatin, with potential for increased ownership through a SAFE investment. The Asthma Treatment market is projected to reach USD 39.04 billion by 2032, growing at a CAGR of 3.8% from 2023 to 2032.

Therma Bright Inc. (TSXV: THRM) (OTCQB: TBRIF) has appointed Douglas S. Sommerville to its Advisory Board. With 30 years of experience in the medical device industry, Sommerville brings valuable expertise to the company. He previously served as Head of Country for Teva Canada and Global Vice President of Infusion Systems at Baxter Healthcare International. Sommerville will focus on Venowave sales and business development efforts, leveraging his extensive network in the medical retail space, hospital management, and industry associations. Therma Bright has also granted 3,300,000 stock options to directors, officers, and consultants, exercisable at $0.08 per share for three years.

Therma Bright Inc. (TSXV: THRM) (OTCQB: TBRIF) congratulates John Patton, Ph.D, Chairman of their strategic investment partner InStatin, on receiving the prestigious Charles G. Thiel Award for outstanding research in respiratory drug delivery. Patton, a renowned biotechnology scientist, has a track record of successful ventures including co-founding Inhale/Nektar and Halozyme. InStatin is developing a novel inhaled statin solution for treating chronic lung conditions like asthma and COPD. Therma Bright owns 17% of InStatin, with potential for increased ownership. The global asthma treatment market is projected to reach $30.1 billion by 2030. Therma Bright also holds over 60% of InVixa shares, which is developing inhaled statins for acute lung disease.

Therma Bright Inc. (TSXV: THRM) (OTCQB: TBRIF) announces a significant milestone achieved by its portfolio company, Inretio. The Preva® ischemic stroke clot removal device has successfully completed its third human trial, marking a major advancement in thrombectomy procedures. This innovative device offers enhanced precision and efficacy in blood clot removal, particularly effective when traditional treatments like tPA are insufficient.

The global coronary stents market is projected to reach $4.8 billion by 2029, presenting a substantial growth opportunity for Inretio and Therma Bright's investment. As Inretio progresses with the FDA 510K designation process, Therma Bright anticipates potential significant returns on its investment in this pioneering health-tech solution.

Therma Bright Inc. (TSXV: THRM) (OTCQB: TBRIF) has secured a new Nationwide U.S. Durable Medical Equipment (DME) distribution partner for its Venowave device. The partner has launched an initial sales program to assess Medicare/Medicaid reimbursement processes. Upon success, the distributor commits to acquire remaining inventory, valued at up to USD $2.38 million in reimbursement.

The Venowave VW5, effective for ten circulatory indications, offers up to USD $1,199 reimbursement per unit. Therma Bright expects its current inventory of 2,000 units to sell quickly, with strong demand for additional orders. The device's HCPCS Level II code E068 qualifies for reimbursement, potentially contributing significantly to the company's revenue and market valuation.

The new partnership offers favorable payment terms, reflecting confidence in Venowave's market readiness and reimbursement setup. Therma Bright anticipates successful program outcomes, leading to increased monthly orders and accelerated revenue growth.

Therma Bright's Venowave VW5 has secured a permanent Healthcare Common Procedure Coding System (HCPCS) code E0683 from the U.S. Centers for Medicare and Medicaid Services (CMS). This makes it the first-of-its-kind Durable Medical Equipment to receive a new HCPCS Level II designation. The device addresses deep vein thrombosis (DVT) and nine other circulatory issues.

CMS has approved a complete patient buyout option for a pair of Venowave devices with a capped reimbursement of $1199, or a rental option at $78.05 per month for 13 months. The Venowave VW5 is a compact, battery-operated peristaltic pump that improves vascular and lymphatic flow in the lower limbs. It offers advantages over compression socks, providing comfortable and effective treatment for various circulatory conditions.