SEVERNA PARK, Md.--(BUSINESS WIRE)--iSonea Ltd. (ASX: ISN; OTCQX: ISOAY), an emerging medical technology company developing innovative monitoring systems and software for the management of asthma, announced that the Company’s American Depositary Receipts (“ADRs”) will commence trading today on the OTCQX® International marketplace in the United States. iSonea’s ADRs will be traded under the symbol ISOAY.
The Company’s stock principally trades on the Australian Securities Exchange (“ASX”) under the symbol ISN.
“Trading on the OTCQX marketplace is an important milestone for iSonea’s continued growth,” said Michael J. Thomas, chief executive officer. “We will now have greater visibility among U.S.-based investors, enabling them to support our commercial development efforts and participate in the progress of the Company.”
OTC Markets Group Inc. operates the world's largest electronic marketplace for broker-dealers to trade unlisted stocks. OTCQX is the highest tier of the OTC market designed for the best OTC companies that meet the highest financial standards and undergo a qualitative review. Investors can find current financial disclosure and Real-Time Level 2 quotes for iSonea Ltd. on www.otcqx.com.
U.S. investment bank Viriathus Capital LLC will serve as iSonea’s exclusive OTCQX Advisor and the Company has appointed Bank of New York Mellon (“BNY Mellon”) as its depositary bank for the ADR program as well as its Principal American Liaison (“PAL”) for OTCQX regulatory matters. “Viriathus is very excited to be working with iSonea,” said David Batista, senior managing director of Viriathus. “With our sponsorship platform consisting of investment banking, equity research and financial marketing services, Viriathus is uniquely positioned to help elevate iSonea’s profile amongst U.S. investors.”
About iSonea Limited
iSonea Limited (formerly KarmelSonix) is an emerging medical technology company developing innovative, non-invasive Acoustic Respiratory Monitoring™ (ARM) devices and software for the management of asthma and related pulmonary disorders. ARM is a breakthrough in asthma management. ARM devices are more patient-friendly than traditional tests, addressing a huge unmet medical need for frequent asthma monitoring, which is routinely recommended to improve asthma control. iSonea’s ARM technology makes accurate, consistent, frequent monitoring possible for any patient, anywhere, at anytime. iSonea’s ARM devices have been cleared for use by the U.S. Food and Drug Administration, the Australian TGA and the European Union CE. Specific ARM devices have been designed for intermittent or continuous monitoring applications in clinical settings and for consumer use in life settings.
About Viriathus Capital LLC
Viriathus Capital LLC is a global boutique investment bank dedicated to providing corporate finance, strategic advisory, equity and debt advisory, and related services to public and private companies across multiple sectors and regions, with a particular and demonstrable experience in assisting ASX listed emerging growth companies in raising capital from U.S. institutional investors. Viriathus is headquartered in Miami with additional offices in New York, Geneva and Perth. Viriathus Capital LLC is an affiliate of Near Earth, LLC which is a broker-dealer registered with the Financial Industry Regulatory Authority in the United States.
Forward Looking Statements
Certain statements made in this presentation are forward-looking statements. These forward looking statements are not historical facts but rather are based on iSonea’s current expectations, estimates and projections about the industry in which iSonea operates, and its beliefs and assumptions. Words such as "anticipates," "expects," "intends," "plans," "believes," "seeks,” "estimates,“ “guidance” and similar expressions are intended to identify forward-looking statements and should be considered an at-risk statement. Such statements are subject to certain risks and uncertainties, particularly those risks or uncertainties inherent in the process of developing technology and in the endeavour of building a business around such products and services. These statements are not guarantees of future performance and are subject to known and unknown risks, uncertainties and other factors, some of which are beyond the control of iSonea, are difficult to predict and could cause actual results to differ materially from those expressed or forecasted in the forward-looking statements. iSonea cautions shareholders and prospective shareholders not to place undue reliance on these forward-looking statements, which reflect the view of iSonea only as of the date of this presentation. The forward-looking statements made in this presentation relate only to events as of the date on which the statements are made. iSonea will not undertake any obligation to release publicly any revisions or updates to these forward-looking statements to reflect events, circumstances or unanticipated events occurring after the date of this presentation except as required by law or by any appropriate regulatory authority.