REDWOOD CITY, Calif., Feb. 22, 2016 (GLOBE NEWSWIRE) -- Capnia, Inc. (NASDAQ:CAPN), a diversified healthcare company that develops and commercializes innovative diagnostics, devices and therapeutics addressing unmet medical needs, today announced that the Company’s CoSense ETCO Monitor will be showcased at the 2016 Mobile World Congress, which is being held February 22-25, 2016 in Barcelona, Spain. The CoSense ETCO monitor will be exhibited by its technology partner, Harman International Industries, in Hall 2, Stand 2K30.
Harman International, a major participant at the Conference, will display CoSense as an example of its capabilities in the health care arena. Harman has been a strategic partner to Capnia, helping Capnia to develop the embedded system software and hardware aspects of CoSense.
“Our portable, non-invasive CoSense ETCO Monitor represents a paradigm shift in the measurement of hemolysis, a condition that, if left untreated, can lead to a range of neurodevelopmental disorders in newborns,” said Anish Bhatnagar, MD, Chief Executive Officer of Capnia. “We believe our proprietary Sensalyze™ technology underlying CoSense has a broad range of potential mobile applications aimed at improving patient outcomes while reducing health care costs, and we are delighted that CoSense is being showcased at such a high-profile event as the Mobile World Congress.”
The CoSense ETCO Monitor rapidly and accurately measures carbon monoxide in the exhaled breath. It is a simple, point-of-care, 5-minute breath test with an initial target indication of newborns with jaundice in order to assess their risk for adverse neurodevelopmental outcomes. The measurement of carbon monoxide is the gold standard for measuring hemolysis. CoSense is currently marketed in the US and EU.
Capnia is exploring, in collaboration with its development partner Harman, certain mobile connectivity applications for CoSense for potential future development. In particular, these include the ability to instantly alert a physician or health care professional of a high CO value so important decisions can be made regarding treatment or discharge. A modified version of the CoSense monitor is being developed for screening newborns for sickle cell disease (sickle cell anemia) in developing countries.
About the Mobile World Congress
The Mobile World Congress (MWC) is the largest mobile trade show of the year. It hosts 95,000 visitors and 2,000 exhibitors from 200 different countries. On display are products that represent the future of mobile technology in a host of industry sectors including healthcare. Many of the major mobile product launches occur at MWC and the 2016 session Barcelona, Spain is expected to introduce more products than ever.
About Capnia
Capnia, Inc. is a diversified healthcare company that develops and commercializes innovative diagnostics, devices and therapeutics addressing unmet medical needs. Capnia's lead commercial product, CoSense, is based on the Sensalyze™ Technology Platform. It is a portable, non-invasive device that rapidly and accurately measures carbon monoxide (CO) in exhaled breath. CoSense has 510(k) clearance for sale in the U.S. and has received CE Mark certification for sale in the European Union. CoSense is used for the monitoring of CO from internal sources (such as hemolysis, a dangerous condition in which red blood cells degrade rapidly), as well as external sources (such as CO poisoning and smoke inhalation). The initial target market is newborns with jaundice that are at risk for hemolysis, comprising approximately three million births in the U.S. and European Union. The Company's commercial, neonatology-focused product line also includes innovative pulmonary resuscitation solutions, including the NeoPIP™ Infant T-Piece Resuscitator and Universal T-Piece Circuit consumables. Capnia's proprietary therapeutic technology uses nasal, non-inhaled CO2 and is being evaluated to treat the symptoms of allergies, as well as the trigeminally-mediated pain conditions such as cluster headache, trigeminal neuralgia and migraine.
Forward-Looking Statements
This press release contains forward-looking statements that are subject to many risks and uncertainties. Forward-looking statements include statements regarding our intentions, beliefs, projections, outlook, analyses or current expectations concerning, among other things, our ongoing and planned product development, including in connection with mobile connectivity, our renewed focus on our therapeutic business and the ability of CoSense ETCO monitor to effectively identify newborns with elevated levels of bilirubin.
We may use terms such as "believes," "estimates," "anticipates," "expects," "plans," "intends," "may," "could," "might," "will," "should," "approximately" or other words that convey uncertainty of future events or outcomes to identify these forward-looking statements. Although we believe that we have a reasonable basis for each forward-looking statement contained herein, we caution you that forward-looking statements are not guarantees of future performance and that our actual results of operations, financial condition and liquidity, and the development of the industry in which we operate may differ materially from the forward-looking statements contained in this presentation. As a result of these factors, we cannot assure you that the forward-looking statements in this presentation will prove to be accurate. Additional factors that could materially affect actual results can be found in Capnia's Form 10-Q filed with the Securities and Exchange Commission on November 12, 2015, including under the caption titled "Risk Factors." Capnia expressly disclaims any intent or obligation to update these forward looking statements, except as required by law.
Investor Relations Contact:
Michelle Carroll/Susie KimArgot Partners
(212) 600-1902
michelle@argotpartners.com
susan@argotpartners.com
Capnia, Inc.