The company’s shares were last trading circa 8% higher intra-day, at $0.205.
Mute is an over-the-counter product to enable snorers to breathe more easily through their nose and keep their mouth closed during sleep. In turn, this reduces vibration in the airways that causes snoring.
The product is designed to fit the natural anatomy of the nose and it is adjustable so the user can control the level of dilation and airflow.
The new non-exclusive agreement will see Brojaw distribute Mute to ear, nose and throat (ENT) clinics, sleep doctors, sleep centres, medical centres and sleep clinics in Taiwan.
This will then be followed by distribution into drug stores / pharmacies. An initial purchase order has been received.
This agreement follows the recent approval of Mute by the Taiwanese Food and Drug Administration (TFDA) as a class 1 medical device.
In July, Rhinomed received purchase orders from the U.S. pharmacy giant Walgreens for Mute to be sold in circa 4,300 pharmacy/drugstores throughout the U.S.
This 5 fold increase in U.S. distribution has occurred 12 months after the start of the initial trial that began in 107 Duane Reade stores and 891 Walgreens stores in May 2016.