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Nuvectra Announces Formation of Medical Advisory Board

PLANO, Texas, Aug. 08, 2016 (GLOBE NEWSWIRE) -- Nuvectra Corporation (NASDAQ:NVTR), a neurostimulation medical device company, announced today the formation of the Nuvectra Medical Advisory Board (“MAB”). The Nuvectra MAB is composed of three renowned experts in neurostimulation therapies and pain medicine. The MAB will serve as a key strategic resource for the Company as it commercializes the Algovita® Spinal Cord Stimulation System. The MAB will help guide the development of clinical study and marketing strategies, clinician education programs, and future pipeline initiatives.

The founding members of the Nuvectra MAB include:

  • Robert M. Levy, MD, PhD, will serve as Chairman of the MAB. Dr. Levy is a board-certified neurological surgeon and is a member of the Executive Board of Directors of the International Neuromodulation Society (“INS”). He has more than 25 years of experience in neurosurgery, including serving in leadership and academic positions at prestigious institutions including Northwestern University Medical School; University of Florida; and the Marcus Neuroscience Institute in Boca Raton, Florida. He is also the Editor-in-Chief of Neuromodulation: Technology at the Neural Interface, the official journal of the INS.
  • Jason E. Pope, MD, is board-certified in Anesthesiology and Pain Medicine. Dr. Pope previously served as faculty at Vanderbilt University Medical Center and Cleveland Clinic. He is well published in peer-reviewed journals and has presented at national and international conferences. He is the President of Summit Pain Alliance in Santa Rosa, CA, where he has an active research group and continues to be highly engaged in national and international society work within the neuromodulation and pain space.
  • W. Porter McRoberts, MD, is board-certified in Physical Medicine and Rehabilitation (“PM&R”). He is a member of the Holy Cross Hospital in Ft. Lauderdale, FL and is a thought leader amongst physicians who practice neurostimulation therapies. He has been and currently is a principal investigator in numerous clinical trials studying medical device therapies for the treatment of pain.

Dr. Levy commented, “The team at Nuvectra has developed a highly innovative neurostimulation platform that has the potential to enhance clinical results and quality of life for patients receiving spinal cord stimulation. I look forward to working with my fellow members of the Medical Advisory Board and collaborating with the Company to advance the clinical evidence of the Algovita SCS system and other promising future applications.” Dr. Pope echoed a similar sentiment, “Nuvectra offers a neurostimulation platform that may improve clinical outcomes and is well poised to be a leader in technology innovation for chronic pain patients.”

Scott Drees, Chief Executive Officer of Nuvectra, said, “We are very pleased to introduce Drs. Levy, Pope and McRoberts as the founding members of the Nuvectra Medical Advisory Board. As Chairman, Dr. Levy is uniquely positioned to lead the Medical Advisory Board given his deep experience in the industry and position as Editor-in-Chief of Neuromodulation: Technology at the Neural Interface, the official journal of International Neuromodulation Society. His experience provides him with a unique and unparalleled perspective in neuromodulation therapies. We are also fortunate to have Dr. Pope and Dr. McRoberts on the Medical Advisory Board; both are leaders in their respective fields of medicine and are actively involved in neurostimulation clinical trials. All of these highly credentialed physicians will be instrumental in educating and training the medical community about the clinical benefits of Algovita. The first objectives of the Nuvectra Medical Advisory Board will be focused on refining our post market clinical study strategies for Algovita, with the goal of initiating the patient enrollment phase of these studies in the near-future.”

About Nuvectra Corporation

Nuvectra™ is a neurostimulation company committed to helping physicians improve the lives of people with chronic neurological conditions. The Algovita® Spinal Cord Stimulation (SCS) System is our first commercial offering and is CE marked and FDA approved for the treatment of chronic pain of the trunk and/or limbs. Our innovative technology platform also has capabilities under development to support other neurological indications such as sacral nerve stimulation (SNS), and deep brain stimulation (DBS). In addition, our NeuroNexus subsidiary designs, manufactures and markets leading-edge neural-interface technologies for the neuroscience clinical research market. Visit the Nuvectra website at www.nuvectramed.com.

Cautionary Note Regarding Forward-Looking Statements

This press release contains "forward-looking statements," including statements we make regarding the outlook for Nuvectra as an independent publicly-traded company. Forward-looking statements are based only on our current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions, and therefore they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and may be outside of our control. Our actual performance may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Any forward-looking statement made by us is based only on information currently available to us and speaks only as of the date on which it is made. Important factors that could cause our actual results to differ materially from those indicated in the forward-looking statements include: (i) our ability to successfully commercialize Algovita and to develop, complete and commercialize enhancements or improvements to Algovita; (ii) our ability to successfully compete with our current SCS competitors and the ability of our U.S. sales representatives to successfully establish market share and acceptance of Algovita, (iii) our ability to demonstrate the features, perceived benefits and capabilities of Algovita to physicians and patients in competition with similar products already well established and sold in the SCS market; (iv) our ability to anticipate and satisfy customer needs and preferences and to develop, introduce and commercialize new products or advancements and improvements to Algovita in order to successfully meet our customers’ expectations; (v) the outcome of our development plans for our neurostimulation technology platform, including our ability to identify additional indications or conditions for which we may develop neurostimulation medical devices or therapies and seek regulatory approval thereof; (vi) our ability to identify business development and growth opportunities and to successfully execute on our strategy, including our ability to seek and develop strategic partnerships with third parties to, among other things, fund clinical and development costs for new product offerings; (vii) the performance by our development partners, including Aleva Neurotherapeutics, S.A., of their obligations under their agreements with us; (viii) the scope of protection for our intellectual property rights covering Algovita and other products using our neurostimulation technology platform, along with any product enhancements or improvements; (ix) our ability to successfully build, attract and maintain an effective commercial infrastructure and qualified sales force in the United States; (x) our compliance with all regulatory and legal requirements regarding implantable medical devices and interactions with healthcare professionals; and (xi) any product recalls, or the receipt of any warning letters, mandatory corrections or fines from any governmental or regulatory agency. Please see the sections entitled “Cautionary Statement Concerning Forward-Looking Statements" and “Risk Factors” in Nuvectra’s Registration Statement on Form 10 and in our other quarterly and periodic filings for a description of these and other risks and uncertainties. We undertake no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise.

Company Contacts: Nuvectra Corporation Walter Berger, Chief Financial Officer (214) 474-3102 wberger@nuvectramed.com Jennifer Armstrong, Media Relations (214) 474-3110 jarmstrong@nuvectramed.com Investor Contacts: The Ruth Group Nick Laudico (646) 536-7030 nlaudico@theruthgroup.com Zack Kubow (646) 536-7020 zkubow@theruthgroup.com

Source:Nuvectra