An industry that has grown a recovered at a good pace following the effects of the COVID-19 pandemic is the medical devices industry. In 2021, the industry was worth $488.98 billion and in 2022 it grew to $495.46 billion. In 2029, the industry is projected to be worth as much as $718.92 billion and that would reflect a CAGR of 5.5% from 2022 through to 2029. In this situation, it may well be a good time for investors to take a look into companies involved in the biomedical and medical devices spaces.
Halberd Corporation (OTCMKTS:HALB) - One of the companies that may well be worth watching at this point is Halberd Corporation. The company is currently best known for having come up with its patented extracorporeal technology.
The company had been awarded two issued patents and four provisional ones. The technology can be deployed to treat blood-borne and cerebrospinal fluid-related diseases. However, there is a specific focus from the company on the detection of COVID-19 and other viruses. The issued patents in relation to extracorporeal technology related to the fact that the technology could be deployed to treat a number of fatal diseases affecting the world including cancer, CTE, and PTSD.
On Tuesday, the company announced that it was going to begin pre-clinical testing of one of its key products at Mississippi State University. The testing would be of its innovative nasal spray that had been designed for the purpose of suppressing the effects of traumatic brain injury.
The test is going to see the staff at MSU work on the quantification and correlation of the head impact to the degree of head injury. It would be the first time that testing would be undertaken with regard to traumatic brain injury. As soon as these vital parameters are established, it would be possible to commence the actual testing of the nasal spray.
Halberd had also been working on testing antibiotic-resistant bacteria that had been sent to it by the Centers for Disease Control and Prevention earlier this year and had found significant success.
Last week it was announced that the company's representatives met with 5 representatives from the CDC and the meeting turned out to be a fruitful one. The CDC representatives acknowledged the success of Halberd in the whole thing and made a commitment to send more strains of such bacteria and fungi which are considered antibiotic resistant and dangerous.
It was back on March 30 that the company made the announcement with regards to the fact that it had signed an agreement with Mississippi State University for the testing of the pre-clinical models for its nasal spray.
At the time it was announced that the work would commence on April 10, 2023, and the tentative completion date had been set for October 10, 2023. It may be a good idea to keep an eye on further developments on this particular front
Evofem Biosciences Inc (OTCMKTS:EVFM) - The company is involved in the development of innovative products meant for taking care of unmet needs in the women’s reproductive and sexual health niche. The company is best known for its product Phexxi and yesterday it emerged that the product had been added to the list of Preferred Drug List by New York Medicaid.
That had gone into effect back on April 1, 2023. It means that there would not be any need for any Prior Authorization requirement with regard to Phexxi. That is going to make it easier for Phexxi to be available to potentially 5.8 million potential patients in the New York area.
Enzolytics Inc (OTCMKTS:ENZC) - Enzolytics Inc is involved in the development of medicines through the commercialization of its proprietary proteins and deploying those in treating infectious diseases. It is currently involved in developing monoclonal antibody therapy.
Last week on April 4 the company had come into the news cycle after it announced that it had made meaningful progress in its program related to the production of monoclonal antibodies for the treatment of animals.
"As Enzolytics advances its science and clinical products, the Company continues to build a robust Intellectual Property portfolio", said Gaurav Chandra, MD, the Company COO. "Intellectual property protection is crucial to fostering innovation. Our focus is on gaining competitive advantage through an aggressive patent strategy."
Northwest Biotherapeutics (OTCMKTS:NWBO) - Northwest Biotherapeutics is a biotech firm that is involved in the development of personalized immunotherapy products for treating cancers. The company is best known for having come up with its own platform technology which helps in producing DCVax® dendritic cell-based vaccines.
Last month the company announced that it had been awarded an MIA license by the Medicines and Healthcare Products Regulatory Agency of the United Kingdom so that it could begin commercial manufacturing of cell therapy products at its Sawston facility.
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