TORONTO, Oct. 2 /CNW/ - Fralex Therapeutics Inc. (TSX: FXI) ("Fralex" or
the "Company"), a medical technology company developing a treatment for
chronic pain associated with fibromyalgia using a non-invasive neuromodulation
device, today announced results from the interim analysis of its pivotal
RELIEF trial.
The independent Data Monitoring Committee ("DMC") for the RELIEF trial
has notified Fralex management that the trial does not have the potential for
a successful outcome based on the data from the first 100 patients.
"We are obviously disappointed by this outcome and will be moving to
suspend the RELIEF trial immediately," said Avi Grewal, President and CEO of
Fralex.
About FRALEX:
FRALEX is a medical technology company focused on developing and
commercializing Complex Neural Pulse or CNP(TM), a novel neuromodulation
therapeutic technology for chronic pain, which utilizes specifically designed,
low-frequency electromagnetic pulses. For more information on FRALEX, please
visit www.fralex.com.
Certain statements contained in this release containing words like
"believe", "intend", "may", "expect", and other similar expressions, are
forward-looking statements that involve a number of risks and uncertainties.
Factors that could cause actual results to differ materially from those
projected in the Company's forward-looking statements include the following:
market acceptance of the Company's technologies and products; the ability to
obtain financing; the Company's financial and technical resources relative to
those of its competitors; the Company's ability to keep up with rapid
technological change; government regulation of therapeutic technologies; the
Company's ability to enforce its intellectual property rights and protect its
proprietary technologies; the ability to obtain and develop partnership
opportunities; the timing of commercial product launches; the ability to
achieve key technical milestones in key products and other risk factors
identified from time to time in the Company's filings.
%SEDAR: 00024447E
