Vivos Therapeutics (NASDAQ:VVOS) shares continued to make gains on Thursday morning after the developer of oral appliances for the treatment of sleep-related disorders announced it has entered into an exclusive distribution agreement with Dubai-based Noum, a company that distributes products to healthcare providers and hospital networks treating patients with obstructive sleep apnea in the Middle East–North Africa (MENA) region.
Shares of Vivos gained 6.4% at US$0.32 late morning Thursday after closing up almost 64% higher on Wednesday on the news it has entered into partnerships with Ormco and ON Demand Orthodontist.
Per the terms of the collaboration, Vivos said that Noum has been given exclusive distribution rights for its products and services in Saudi Arabia, United Arab Emirates, Qatar, Kuwait, Bahrain, Oman, Jordan, Lebanon and Palestine.
Noum will immediately seek regulatory approvals in the various countries for Vivos medical devices, with approval times expected to range from a few weeks to several months, it added.
Vivos has already scheduled an initial provider training event on its oral appliances and technology for early 2024 in Dubai.
The company said it expects that Vivos products will eventually be manufactured locally in the region under a future license agreement currently being finalized between Vivos and Noum.
CEO Kirk Huntsman noted that Vivos’ expansion into the MENA region represented an important milestone for the company, which has been focused on its domestic expansion opportunities in the United States.
“However, given Noum’s excellent track record representing SleepImage in the region, we could not pass up this opportunity as we knew that we now had a partner with the resources and expertise to support our expansion into the Middle East region of the globe,” Huntsman said in a statement.
“We look forward to supporting Noum in their efforts to train and support doctors treating breathing and sleep disorder patients using Vivos products and technology, as well as the revenue opportunities for Vivos from this collaboration.”
Vivos is a medical technology company focused on developing and commercializing innovative diagnostic and treatment methods for patients suffering from breathing and sleep issues arising from certain dentofacial abnormalities such as mild-to-moderate obstructive sleep apnea and snoring in adults.
- Updated with share price movement -
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