TORONTO, ON--(Marketwired - Mar 17, 2014) - Medifocus, Inc. (OTCQX: MDFZF) (TSX VENTURE: MFS) (Medifocus or the Company), a leader in the development and commercialization of focused microwave energy to treat cancer and other diseases, is pleased to announce that Medifocus Asia, Ltd. has entered into an advisory agreement with Euro Japan Marketing Ltd. and Maxim Group, LLC to help identify distribution and joint venture partners for the Company's cutting-edge Prolieve® Thermodilatation System in Japan and South Korea.
Under the terms of the agreement, Euro Japan Marketing and Maxim Group will serve as co-advisors to Medifocus Asia, Ltd. as it works to expand its presence throughout Japan and South Korea. They will help identify distribution and joint partners which can further the Company's position as an emerging leader within the Benign Prostatic Hyperplasia ("BPH") treatment market. Benign Prostatic Hyperplasia is the medical term for enlarged prostate, a non-cancerous urological disease in which the prostate enlarges and constricts the urethra. BPH is an age-related disorder. It is generally estimated that approximately 50% of all men over the age of 55 and 90% of all men over 75 will have BPH symptoms at various times.
The Company has already made significant progress in its effort to build its presence in the Asia-Pacific market through its joint venture partnership with Ideal Concept Group, Ltd. (ICG), a Hong Kong-based company with extensive expertise in business development in Greater China and other Asia-Pacific countries. ICG and Medifocus own 60% and 40% of Medifocus Asia, respectively.
Dr. Augustine Y. Cheung, President and CEO of Medifocus, commented, "Since the formation of Medifocus Asia in November 2013, we have worked diligently with Ideal Concept Group to introduce our unique thermotherapy technology platforms to the Asia-Pacific marketplace. Through their deep connections and resources, we have taken important steps to position our Prolieve® system at the forefront of one of world's largest BPH patient populations. With a population of 4.3 billion and growing economies, the Asia market presents enormous potentials for our products. We believe the Prolieve® therapy offers a more patient-friendly alternative to medication and other more invasive surgical-based treatments without the complications and side effects associated with those procedures."
"We are pleased to expand our global team with the engagement of Euro Japan Marketing and Maxim Group as they offer the ability to further our success within the Asia-Pacific region by assisting our expansion in Japan and South Korea. Similar to China, these countries offer a vast opportunity for our business as they represent a male population of over 85 million."
Christopher Jackson, Managing Director of Euro Japan, commented, "With aging populations and a high incidence of Medifocus' target indications, including prostate cancer and urological diseases, both Japan and South Korea are well-placed to become key regions for Medifocus' future business. The minimally invasive microwave heat system that does not cause harm to surrounding tissue is a very neat technology that offers key benefits in terms of treatment regime and quality of life. We look forward to working with Medifocus to secure strong local partners in both territories."
About Medifocus, Inc.
Medifocus owns two fully developed technology platforms with comprehensive US and international patent protection: (1) The Endo-thermotherapy Platform -- a catheter-basis focused heat technology platform that utilizes natural body openings to deliver precise microwave thermotherapy to the diseased sites. The U.S. FDA approved Prolieve Thermodilatation System for the treatment of Benign Prostatic Hyperplasia ("BPH") was developed based on Endo-thermotherapy and is currently generating revenue, and (2) The Adaptive Phased Array (APA) Microwave Focusing Platform -- invented by MIT, licensed to Medifocus, directs precisely focused microwave energy at tumor center to induce shrinkage or eradication of tumors without undue harm to surrounding tissue. The Company's APA 1000 Breast Cancer Treatment System, developed from the APA technology platform, has received approval from the U.S. FDA and Health Canada to conduct the pivotal Phase III clinical trials. The Company believes that these two technology platforms can provide the design basis for the development of multiple cancer treatment systems for surface, subsurface and deep seated localized and regional cancers. Please visit www.medifocusinc.com, www.prolieve.com and http://www.facebook.com/pages/Medifocus-Inc-Company-Page/546315028715627 for more details.
About Euro-Japan Marketing Ltd
Euro Japan is a long-established consultancy company that, through offices in London and Tokyo, provides consultancy services and advice to biotech and medtech companies in both regions. This includes identifying and securing licensing partners and distributors; securing funding; and developing positive relationships with key stakeholders. Euro Japan has extensive knowledge of the biopharma and medtech sectors in both Japan and South Korea (until recently, it had a sister company, Euro Korea Marketing Limited, with an office in Seoul) and is able to leverage its network to the benefit of clients. More details about Euro Japan can be found at www.eujapan.co.jp
About Maxim Group LLC:
Maxim Group LLC is a full-service investment banking firm headquartered in New York. Maxim Group provides a full array of financial services including investment banking; private wealth management; and global institutional equity, fixed-income and derivatives sales and trading as well as equity research. The investment banking group focuses on middle market and emerging growth companies within the shipping, energy, healthcare, technology, retail, and business and financial services sectors. The institutional coverage of Maxim Group spans North and South America, Europe and Asia. Maxim Group LLC is registered as a broker-dealer with the U.S. Securities and Exchange Commission and is a member of the following: Financial Industry Regulatory Authority (FINRA); Municipal Securities Rulemaking Board (MSRB); Securities Insurance Protection Corporation (SIPC); NASDAQ Stock Market and the NYSE Arca, Inc. To learn more about Maxim Group, visit www.maximgrp.com.
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