Hey guys
Below is a responce by Wolfgang Storf in regards to the questions I put to NTI (Neurotech International)
I was so very impressed by the quick response in addition to it coming from the Chief Executive Officer Wolfgang Storf.
What I was also impressed by was his comments including:
"should the double blind study results be successful, we expect acceptance and adoption of the technology to increase significantly and in due course flow through to greater sales of the device."
"it is our intention to maximise the publication of the results to gain further traction in the market and to strengthen Mente Autism’s credibility as a product and treatment for children on ASD."
"Our strategy is to create a group of medical professionals in every market we enter who are key opinion leaders and who will prescribe Mente. It is critical that every Mente user has a clear diagnosis of autism and is referred to our distribution partners by the medical professional. This gives us more credibility in the market and gives parents peace of mind that they are purchasing a device that is suitable for the child"
"By presenting the results of the clinical trial, we immediately give a clear answer that we are a serious company, developing a product that has been tested in a clinical environment and that has passed rigorous testing."
This is my thoughts only - but does anyone else get the feeling that NTI Neurotech International has many of the qualities similar to that of medical device maker Cochlear? NTI is becoming a bit of a sleeping giant in my opinion only.
Please discuss!
Regards Bruutz82
COMPLETE EMAIL......
Dear XXXXXXX
thanks for your questions! Please find my answers:
1) Upon publication of NTI’s double blind results (if positive) is NTI going to start an immediate marketing/ advertising campaign to notify the market of the positive results and unique benefits of the ‘in-home’ Mente autism device? If so, what will the marketing/ advertising drive look like and will it include large target markets such as Europe and the USA?
We will be adopting a two-step process here. Once the final results are available, a notification will, as usual, be issued on the ASX. This announcement will also be distributed as a press release to interested media in our key markets. The second step is to get the results published in one or more of the leading, peer reviewed publications in the neurological field. This publication of peer-reviewed articles is critical as they carry greater weight when presenting Mente to the market, especially among medical professionals. We are cognisant of the fact that in marketing activities we have to follow certain guidelines and this may impact what we can do or how we can present the results. However, it is our intention to maximise the publication of the results to gain further traction in the market and to strengthen Mente Autism’s credibility as a product and treatment for children on ASD.
In terms of the large target markets, we have flagged our intention to pursue FDA Clearance in 2018 which, if successful, would enable us to enter the US market. With regulatory approval in Europe already in place, our focus to date has been on key European markets such as Germany, and we will use the results of the trial to further our standing with medical professionals in these markets.
2) Is it expected around the same period of the double blind results announcement that the UK distribution agreement will be additionally signed and announced to the market?
We are currently negotiating with the distributor in the UK and will announce the signing of the agreement in due course.
3) How will the results of the double blind study (if successful) be utilised to speed up sales of the Mente autism device to target customers?
As Mente is a medical device it is critical that the medical professional is the link between us and the patient. Our strategy is to create a group of medical professionals in every market we enter who are key opinion leaders and who will prescribe Mente. It is critical that every Mente user has a clear diagnosis of autism and is referred to our distribution partners by the medical professional. This gives us more credibility in the market and gives parents peace of mind that they are purchasing a device that is suitable for the child. In saying that, should the double blind study results be successful, we expect acceptance and adoption of the technology to increase significantly and in due course flow through to greater sales of the device.
4) How will the double blind results (if positive) be used to drive penetration into target countries and distribution channels?
One of the first questions we are often asked is, what papers have you published. Scientific evidence, particularly for medical devices, is a must and the market is very demanding in this respect. By presenting the results of the clinical trial, we immediately give a clear answer that we are a serious company, developing a product that has been tested in a clinical environment and that has passed rigorous testing. Combined with our certifications like CE and the TGA in Australia, the results give credibility to our story when we go to market.
Regards
Wolfgang Storf
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