BSD Medical Corporation (NASDAQ:BSDM) (Company or BSD) ( www.BSDMedical.com), a leading provider of medical systems that utilize heat therapy to treat cancer, announced today that the Company has signed an exclusive agreement with Linden Bioscence Co., Ltd. (Linden), a Taiwan corporation, for the sale and distribution of BSD’s hyperthermia products in Taiwan.
Linden’s primary focus will be licensing, marketing and selling the BSD-2000 Hyperthermia System (BSD-2000) in Taiwan. Linden is funded by a large Taiwanese philanthropic cancer foundation. Per the agreement, Linden is required to purchase a minimum number of BSD-2000 systems annually over a five year period, totaling a cumulative $7.1 million in revenue to BSD. Shipment of the first hyperthermia systems will coincide with Linden’s receipt of Taiwan FDA import license approval.
“We are pleased to have a focused, well-funded organization such as Linden as our distribution partner in Taiwan,” stated Harold R. Wolcott, President of BSD Medical. “The Asia Pacific countries are becoming an increasingly important market and could represent up to 40% of the global health care market by 2015. With the addition of Taiwan, our exclusive Asian distributors have committed to minimum purchases, which could total more than $26.0 million in revenue to BSD over a five year period.”
Taiwan ranks as one of the world’s leading economies, with a population of 23.3 million and overall GDP among the top 20 in the world. As a result, much of the population expects a high level of medical care. The Taiwan medical equipment market is focused on high-end, innovative technology, with a strong reliance on imported products.About the BSD Hyperthermia Systems The BSD-2000 – developed and patented exclusively by BSD – delivers localized therapeutic heating (hyperthermia) by applying radiofrequency (RF) energy. The BSD-2000 creates a central focusing of energy that can be electronically focused to target the shape, size and location of the tumor, thus providing dynamic control of the heating delivered to the tumor region. The BSD-2000 has Humanitarian Device Exemption (HDE) marketing approval from the U.S. Food and Drug Administration (FDA) for use in conjunction with radiation therapy for the treatment of cervical cancer patients who are ineligible for chemotherapy. The BSD-2000 also has CE (Conformité Européenne) Marking approval for the commercial sale in Europe. CE Marking approval is also recognized in many countries outside of the EU.