Axonics Modulation Technologies (NSDQ:AXNX) announced today that it entered into an agreement to supply its r-SNM (sacral neuromodulation) system to the University of Tennessee Medical Center (UTMC) in Knoxville, Tenn.
UTMC has been implanting SNM devices for more than a decade and is one of the first hospitals in the U.S. to use the Axonix r-SNM system for its patients, according to a news release.
Last week, Axonics won FDA premarket approval for the r-SNM system with an indication for the treatment of overactive bladder and urinary retention, which followed the FDA approval that r-SNM won in September for fecal incontinence.
The implantable, rechargeable sacral neuromodulation device is the first of its kind to win approval for sale in the U.S., Europe, Canada and Australia. It is also the only SNM device approved for full-body MRI scans without needing the device explanted.
“UT Medical Center is committed to assisting women who are suffering from pelvic floor disorders,” UTMC urogynecologist Dr. C. Bryce Bowling said in the release. “It is unfortunate that this population is suffering and for the most part, unaware there are numerous treatments available to help alleviate symptoms and correct anatomic- and neurologic-related conditions. We believe that offering the latest technology in sacral neuromodulation is important for our patients. We are impressed with the efficacy results from the ARTISAN-SNM clinical trial and the tangible and significant features of the Axonics r-SNM System, including the long life of the implant and MRI compatibility. Both the urogynecology and urology departments at the medical center are currently implanting the Axonics system. We look forward to working with Axonics for years to come.”
Axonics is currently involved in a legal battle over its SNM technology. Earlier this month, Medtronic (NYSE:MDT) filed a lawsuit against the company in the U.S. District Court for the Central District of California, alleging infringements of four patents for Medtronic’s SNM technologies indicated for bowel and bladder conditions.
Earlier this week, Axonics announced that it commenced a proposed public offering worth $110 million in shares of its common stock.
