American Medical Innovations Sells Juvent Assets and Grants Worldwide Exclusive License to all Intellectual Property to Regenerative Technologies Corporation
Palm Beach Gardens, Florida [October 30, 2011] — Juvent Regenerative Technologies Corporation(RTC) has bought the assets and exclusively licensed all of the intellectual property of American Medical Innovations, LLC (AMI). Marie Dinon, Ed.D., AMI’s founder and Managing Director and Rush E. Simonson, Chairman and CEO of Juvent RTC are excited about the prospects of bringing the popular Juvent 1000 platform back to market.
Simonson said, “Our extensive due diligence, which involved a comprehensive review of both the science and patents convinced us of the tremendous potent and value. The Juvent/AMI patent portfolio of over 20 issued patents and more pending applications is both wide and deep. The portfolio clearly places us in the leadership position from the start.
The company’s goal is to have the new Juvent 1000 back on the market by early 2013. Additionally, the company is dedicated to building the device here in the U.S. which will allow us to closely monitor progress and quality. “We are dedicated do producing the best and safest whole body therapy platform in the world,” Simonson said. There research reveals that most of the whole body vibration (WBV) devices on the market today are made in China and are frankly dangerous if you use the published OSHA guidelines as a guide.
Our team’s extensive science and medical device experience will be key to re-launching the product.” Simonson also pointed out that interviews with current users further validated the technology. “We were pleasantly surprised by the almost universal praise and success with benefiting their poor bone health.”
Simonson was also intrigued by the nickname of the Juvent 1000, “The Feel Good Machine” heard from former Juvent employees and contractors. Simonson attributes this to some newer research showing the Juvent’s patented Dynamic Motion Therapy may actually increase the number of an important stem cell, mesenchymal stem cells, which can help assist the body’s natural healing process.
Simonson brings an extensive medical device background to this effort. He was recently founding CEO of Cytonics Corporation (www.cytonics.com). Cytonics local scientist worked closely with a team of researchers from Stanford University and University of Pittsburgh, to open a new lab in Jupiter, Florida close to the new Scripps Research facility, and successfully discover a novel protein complex responsible for joint and back pain. Cytonics has recently been partially acquired a subsidiary of Johnson & Johnson. He also has been a Medtronic medical distributor, and an investor in other successful spinal device and electronic medical record companies which were later acquired by Kyphon/Medtronic and AllScripts. Simonson also holds 3 pioneer patents for a posterior artificial disk.
Rush is also joined by his brother, Peter Simonson, another experienced medical device developer. Peter is the inventor of one of the world’s most widely used degenerative and deformity spinal instrumentation systems, TSRH-3D System, marketed by Medtronic, the Minneapolis based medical device manufacturer. RTC has assembled a team of over 12 medical device professionals who will contribute to the effort.
“Both of us are excited about being part of this important relaunch. Spine has been a passion for both us for over 20 years. We have seen, first hand, the devastation that poor bone health can have on both adults and children.” said Simonson.
Stay tuned to the web site for updates. RTC plans on working closely with many of the former Juvent Medical distributors.
This press release may contain “forward-looking statements” as that term is defined in the Private Securities Litigation Reform Act of 1995. These statements are based on management’s current expectations and involve risks and uncertainties, which may cause results to differ materially from those set forth in the statements. The forward-looking statements may include statements regarding product development, product potential or financial performance. No forward-looking statement can be guaranteed, and actual results may differ materially from those projected. Regenerative Technologies Corporation undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events, or otherwise. Forward-looking statements in this press release should be evaluated together with the many uncertainties that affect Regenerative Technologies Corporation’s business.
Dynamic Motion Therapy ® is a registered trademark of AMI.