Cell MedX Corp (OTCMKTS:CMXC) has announced that it has entered into a production agreement, with an ISO9001 certified manufacturing facility, in Coquitlam, British Colombia. The company noted that this was made possible through its Canadian subsidiary. The new manufacturing partner would be producing CMXC’s eBalance Pro device, with essential supplies being provided by North American suppliers. The move is aimed at keeping greater control of the manufacturing process, while ensuring lower production costs.
The company noted that the partnership would allow them to facilitate its previously planned distribution, under the current registration, with the US FDA. This would also ensure that CMXC enjoys stricter controls over the distribution process, while developing a standard of operating procedures, which meet the requirements set forth, by Health Canada. Once these requirements have been met, the company would be able to register the eBalance Pro device, as a class II medical device.
The CEO of Cell MedX, McEnulty, has stated that their team is very excited about the execution of their strategic plan. He claimed that securing their relationship with the manufacturer and suppliers is the next essential step to bring the device to market. It should be noted here that the device was registered with the FDA, at the end of March 2017, but is yet to be cleared for use, as a class II non-exempt device. The device is also undergoing a phase-1 clinical observational trial.
CMXC has stated that its trial is progressing, as expected and the company has decided to increase the group size of the participants, to 21. Moreover, a total of 18 patients had received their first eBalance treatment, as of March 27, 2017. It is anticipated that all patients have received their first treatments, by now. The study has been developed for a period of 3-months and is focused on observing eBalance as an adjunct treatment, for type-1 and type-2 diabetics.
Cell MedX Corp (OTCMKTS:CMXC) gained by 1.46%, during the April 28 trading session, to reach a close at $0.41 per share.