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Valion Bio, formerly Tivic Health Systems, reports developments tied to its transformation into a biopharmaceutical company focused on innate-immune therapeutics. Company news centers on Entolimod™, a TLR5 agonist lead candidate for acute radiation syndrome, related gastrointestinal radiation-injury work, broader oncology supportive-care applications, and pipeline depth from Entolasta™.
Updates also cover the company’s wholly owned Velocity Bioworks subsidiary, a full-service CDMO providing analytical testing, process development, and cellular and biologic therapy manufacturing services. Recurring announcements include government and public-health preparedness engagement, nonclinical study agreements, financial results, corporate presentations, leadership changes, and the completed name and ticker change from TIVC to VBIO.
Tivic Health Systems (TIVC), a health technology company specializing in bioelectronic medicine, announced the completion of supplier qualification and first article inspection with ALOM, enhancing production efficiency. This advancement aims to decrease third-party logistics costs by up to 30% and reduce assembly costs by 40% per unit. This move is part of Tivic's strategy to improve margins and cost management, confirming that their production processes meet regulatory standards.
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Tivic Health Systems, Inc. (TIVC) has completed an underwritten public offering, issuing 20,000,000 shares of common stock at $0.25 each, raising approximately $5 million. The underwriters also have a 45-day option for an additional 3,000,000 shares. The funds will primarily support the expansion of their ClearUP® product for sinus relief and cover clinical and regulatory expenses for future products. While Tivic is exploring potential strategic investments, no definitive agreements are currently in place. The registration statement for this offering was effective as of February 8, 2023, with the prospectus filed on February 10, 2023.
Tivic Health Systems, Inc. (Nasdaq: TIVC), a bioelectronic medicine company, announced a public offering of 20 million shares at $0.25 each, aiming for approximately $5 million in gross proceeds. The offering includes a 45-day option for underwriters to purchase an additional 3 million shares. Proceeds will be used for expanding sales of its product ClearUP® for sinus relief and for clinical and regulatory costs related to new product candidates. The offering is expected to close on February 13, 2023, subject to standard conditions.
Tivic Health Systems, Inc. (TIVC), recognized as the Most Pioneering Bioelectronic Medicine Company of 2022 by Global Health & Pharma, emphasizes the growing field of bioelectronic medicine. CEO Jennifer Ernst highlighted the shift from traditional drug therapeutics to innovative electronic solutions for chronic conditions. The company's ClearUP device, a non-invasive treatment for sinus pain, has earned accolades as the Most Innovative Sinus Relief Solution for two consecutive years. Tivic Health's commitment to evidence-based, non-invasive therapies positions it as a leader in the evolving healthcare landscape.
Tivic Health Systems (Nasdaq: TIVC) has mutually terminated its agreement with Reliefband Technologies regarding the acquisition of the Reliefband product line, initially announced on October 7, 2022. CEO Jennifer Ernst cited volatile capital market conditions as a primary reason for this decision. Despite the setback, the relationship between the two companies remains positive, and Tivic is focused on accelerating sales of its ClearUP product while exploring other growth opportunities.
Tivic Health Systems (TIVC) has hired ALOM Technologies Corporation to enhance its supply chain management, aiming for cost improvements and scalable growth in the bioelectronic medicine sector. ALOM will manage inventory, logistics, and fulfillment from its 19 global locations. This partnership follows a recent agreement with Microart Services Inc. to significantly reduce manufacturing costs by 70% for certain components. Tivic has also increased the MSRP for its ClearUP products by $20 to improve margins.
Tivic Health Systems, Inc. (TIVC) reported a 72% revenue increase in Q3 2022, totaling $477,000, driven by a 130% rise in direct-to-consumer unit sales. Year-to-date revenue increased 65% to $1.4 million, with gross margins improving 22%. The company announced a $33.5 million acquisition of Reliefband Technologies to expand its product offerings, alongside a partnership with Microart Services to reduce manufacturing costs. However, research and development expenses rose significantly, contributing to a net loss of $2.6 million for the quarter.
Tivic Health Systems, Inc. (TIVC) announced it has entered a non-exclusive manufacturing agreement with Microart Services Inc. This partnership aims to significantly reduce product manufacturing and shipping costs. COO Ryan Sabia emphasized that the agreement offers advantageous pricing and enhances scalability while maintaining North American-based production. Tivic Health focuses on bioelectronic medicine, delivering non-invasive treatments for inflammation and related conditions.