Print 09 June 2016
SANTA CLARA, Calif., June 09, 2016 (GLOBE NEWSWIRE) -- Miramar Labs, Inc., (OTCQB:KTLC), a global aesthetic company announced today that it has entered into an exclusive distribution agreement with Meheco, a state-holding company listed on the Shanghai Stock Exchange (Ticker Symbol: China Meheco; Stock Code: 600056). Miramar Labs received the China Food and Drug Administration (CFDA) initial approval in May 2015 for the marketing and sale of miraDry® system in the People’s Republic of China and full approval to distribute its product in April 2016. The miraDry® system utilizes the Company’s proprietary miraWave® technology and is the first non-surgical system to permanently eliminate apocrine and eccrine glands in the axilla which are the cause of unwanted sweat and odor.
Meheco is dedicated to the promotion of human health and has been offering excellent service to global customers for over 30 years. It has established strategic partnerships with numerous well-known transnational medical device companies.
This represents a significant market expansion opportunity for Miramar Labs and the miraDry® system and will supplement sales for miraDry® in over 40 countries.
Mike Kleine, President and Chief Executive Officer of Miramar Labs said, “This partnership with Meheco is a significant advancement in our worldwide distribution efforts, as well as in creating new markets for axillary sweat and odor reduction. Meheco’s commitment to this venture is firmly demonstrated through their establishment of a sales and support team solely dedicated to miraDry®. We couldn’t be more pleased with the partnership.”
Sales VP for Meheco added, “We are very pleased and excited about our new partnership with Miramar Labs. This has been an untouched market with a large population suffering from excessive underarm sweat and odor. We strongly believe Miramar Labs’ unique miraDry® technology offers significant opportunities by delivering new innovative applications to treat unmet needs in China’s rapidly growing aesthetic market.”
About Miramar Labs:
Founded in 2006, Miramar Labs, Inc., is a global medical device company dedicated to bringing innovative applications to treat unmet needs in the aesthetic marketplace. Supported by rigorous clinical research, Miramar Labs is focused on addressing medical conditions for which there are significant unmet clinical needs. The company’s first priority is the treatment of bothersome underarm sweat, an issue that millions of people deal with daily. The miraDry® procedure has an established safety and efficacy profile with over 55,000 patients treated worldwide. Physicians and patients are encouraged to visit www.miramarlabs.com or www.miradry.com for additional information.
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