Decision Represents Early Step in Building the Company's Foundation Internationally
MENLO PARK, Calif.--(BUSINESS WIRE)-- Intersect ENT, Inc. (Nasdaq:XENT), a company dedicated to improving the quality of life for patients with ear, nose and throat conditions, today announced that InEk, the German Institute for the Hospital Remuneration System, has assigned NUB (Neue Untersuchungs und Behandlungsmethoden) Status 1 for mometasone furoate implants for 2016.
The purpose of the NUB process is to support the initial introduction of new and innovative medical products by allowing a limited number of participating hospitals to receive reimbursement. NUB Status 1 is the highest priority designation available, and was only assigned to a minority of product submissions for 2016.
"We believe that the robust clinical evidence supporting PROPEL was key to this favorable decision, which we received on the first application round," stated Lisa Earnhardt, president and chief executive officer, Intersect ENT. "While our focus as a company is very much on U.S. commercialization as well as development of our pipeline products, this represents an important step in our efforts to build a foundation for international expansion over the coming years."
About Intersect ENT
Intersect ENT, Inc. is dedicated to improving the quality of life for patients with ear, nose and throat conditions. The company markets two steroid releasing implants, PROPEL and PROPEL mini, clinically proven to improve surgical outcomes for patients with chronic sinusitis undergoing ethmoid sinus surgery. In addition, Intersect ENT is developing new steroid releasing implants designed to provide ENT physicians with even more customized options to treat patients with chronic sinusitis less invasively and more cost effectively. Chronic sinusitis is an inflammatory condition leading to debilitating symptoms and chronic infections, and is one of the most costly conditions to U.S. employers.
For additional information on the company or the products including risks and benefits please visit www.intersectENT.com.
The statements in this press release regarding the ability of hospitals to negotiate for additional funding to cover the cost of procedures and Intersect ENT's ability to expand its business internationally are "forward-looking" statements. These forward-looking statements are based on Intersect ENT's current expectations and inherently involve significant risks and uncertainties. These statements include those related to the review of data by and timing for approval by the FDA as well as the rate of patient adoption for Intersect ENT's products, if approved. Actual results and the timing of events could differ materially from those anticipated in such forward-looking statements as a result of risks and uncertainties, which include, without limitation, the performance of PROPEL and PROPEL mini, the development of competitive products, the uncertain timing of completion of and the success of clinical trials and market competition. Additional factors that could cause results to differ materially from those described in the forward-looking statements can be found in Intersect ENT's filings on Form 10-K, Form 10-Q and the company's other filings with the Securities and Exchange Commission (SEC) available at the SEC's Internet site (www.sec.gov). IntersectENT does not undertake any obligation to update forward-looking statements and expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein.
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Source: Intersect ENT, Inc. '