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Digital therapeutics (DTx) are a form of patient care that are gaining momentum in the medical industry and the effects of the pandemic have only accelerated this growth.
In 2019, Insider Intelligence projected that the digital therapeutics industry would reach a market value of $9 billion by 2025. Although last year, their projections increased dramatically with the market value of DTx expected to hit nearly $56 billion in the next five years.
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NEW YORK, Feb. 23, 2021 /PRNewswire/ Hoth Therapeutics, Inc. (NASDAQ: HOTH), a biopharmaceutical company, today announced today the successful completion of a pre-IND meeting with the U.S. Food and Drug Administration (FDA) regarding the Company s development plan for their HT-001 product. The Pre-IND meeting was completed through written responses provided by the FDA Division of Dermatology and Dentistry on February 22, 2021.
HT-001 is a topical formulation under development for the treatment of rash and skin disorders associated with initial and repeat courses of tyrosine kinase inhibitor/epidermal growth factor receptor (EGFR) inhibitor therapy. HT-001 is being developed for New Drug Application (NDA) submission via the 505(b)(2) regulatory pathway.
Operator
Good morning and welcome to ImmunoGen s Fourth Quarter and Full-Year 2020 Financial and Operating Results Conference Call. Today s conference is being recorded.
At this time, I would like to turn the call over to Courtney O Konek, Senior Director of Corporate Communications and Investor Relations. Please go ahead.
Courtney O Konek
Senior Director of Corporate Communications and Investor Relations
Good morning, and thank you for joining today s call. Earlier today, we issued a press release that includes a summary of our recent progress and fourth quarter and full-year 2020 financial results. This press release and a recording of this call can be found under the Investor and Media section of our website at immunogen.com.
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The German Institute for Hospital Remuneration (InEK) has renewed the NUB Status 1 designation of VasQ™ External Support for 2021. NUB Status 1 provides supplemental reimbursement for innovative medical devices that have the potential to improve the standard of care for patients. VasQ™ External Support first received NUB Status 1 in 2017 with 35 participating hospitals. It has since grown to 321 participating hospitals to date, which is the second highest among devices that serve the dialysis patient population.
The VasQ™ External Support is implanted around the anastomosis during the creation of an arteriovenous fistula (AVF) to promote more usability without the need for the frequent additional procedures typically required for standard AVFs. In seven clinical studies, VasQ AVFs have reported usability rates as high as 86% or better by 6 months. Growing clinical evidence in support of VasQ, as well
VasQ™ External Support Awarded NUB Status 1 Reimbursement Renewal for 2021 for 321 Hospitals
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BERLIN, Feb. 1, 2021 /PRNewswire/
The German Institute for Hospital Remuneration (InEK) has renewed the NUB Status 1 designation of Laminate Medical s VasQ™ External Support for 2021. NUB Status 1 provides supplemental reimbursement for innovative medical devices that have the potential to improve the standard of care for patients. VasQ™ External Support first received NUB Status 1 in 2017 with 35 participating hospitals. It has since grown to 321 participating hospitals to date, which is the second highest among devices that serve the dialysis patient population.
The VasQ™ External Support is implanted around the anastomosis during the creation of an arteriovenous fistula (AVF) to promote more usability without the need for the frequent additional procedures typically required for standard AVFs. In seven clinical studies, VasQ AVFs