Centers For Medicare and Medicaid Services Approves Reimbursement For Unique Fortetropin®-Based Enteral Nutrition Formula
New, High-Quality Nutrition Product Now Eligible for Medicare and Medicaid Reimbursement
Underpins Launch of MYOS Medical Nutrition, Fully Leveraging the Versatility of Fortetropin®
CEDAR KNOLLS, N.J., Oct. 2, 2018 /PRNewswire/ -- MYOS RENS Technology Inc. ("MYOS" or "the Company") (NASDAQ: MYOS), a biotherapeutics and bionutrition company and the owner of Fortetropin®, a proprietary bioactive composition derived from fertilized egg yolk that helps build lean muscle, announced today that MYOS Enteral Nutrition Formula, formulated with Fortetropin®, has become eligible for Medicare and Medicaid reimbursement. Specifically, the formula has been approved as an HCPCS B4150 Product after review by the Pricing, Data Analysis, and Coding Contractor for the Centers for Medicare and Medicaid Services ("CMS"). This HCPCS B4150 code is used to describe enteral formulas which are nutritionally complete with intact nutrients, including proteins, fats, carbohydrates, vitamins, and minerals.
Joseph Mannello, Chief Executive Officer of MYOS, commented, "We are thrilled to have secured reimbursement approval from CMS for our enteral nutrition formula, and the fact that for the first time, a Fortetropin®-based nutrition product has been assigned an HCPCS code."
"Many patients who require enteral nutrition are very sick and can benefit from access to high quality nutrition products. Patients who experience difficulty eating due to issues related to swallowing or with their esophagus, require the use of an enteral feeding tube to deliver their nutrients. We will continue to devote efforts towards commercializing our enteral nutrition formula so that the potential of Fortetropin to improve quality of life can be realized."
"Our team of scientists continue to work towards exploring the range of health benefits of Fortetropin. The development and commercialization of medical nutrition products is a long-term initiative that we believe will enable us to further leverage the versatility of Fortetropin," concluded, Mr. Mannello.
"The challenge of managing many chronic diseases includes controlling the catabolic effects of therapies such as anti-neoplastics, as well as the metabolic abnormalities central to the primary illness. An effective anti-catabolic bionutritional product such as Fortetropin, which is well-tolerated and cost-effective is a huge advance for healthcare," added Robert J. Hariri, M.D., Ph.D., Myos Chairman.
A serving of MYOS Enteral Nutrition Formula contains 6.6 grams of Fortetropin in addition to 23 grams of protein and 26 high quality vitamins and minerals. The term, "enteral nutrition" typically refers to a feeding method that makes use of the gastrointestinal tract to deliver some component of a patient's dietary needs.
Many patients who suffer from certain Cancers, Cerebral Palsy, Down Syndrome, Duchenne Muscular Dystrophy, Stroke, Traumatic Brain Injury and Ulcerative Colitis, rely upon enteral nutrition to meet their dietary needs.
About MYOS RENS Technology Inc.
MYOS RENS Technology Inc. (MYOS), "The Muscle Company™", is a Cedar Knolls, NJ-based bionutrition company that develops and markets products that improve muscle health and performance. MYOS is the owner of Fortetropin®, a fertilized egg yolk-based product manufactured via a proprietary process to retain and optimize its biological activity. Fortetropin has been clinically shown to increase muscle size and lean body mass in conjunction with resistance training. MYOS believes Fortetropin has the potential to redefine existing standards of physical health and wellness. For more information, please visit www.MYOSRENS.com.
Any statements in this release that are not historical facts are forward-looking statements. Actual results may differ materially from those projected or implied in any forward-looking statements. Such statements involve risks and uncertainties, including but not limited to those relating to product and customer demand, market acceptance of our products, the ability to create new products through research and development, the successful results of strategic initiatives, the successful launch of our products, including Qurr® products and MYOS Enteral Nutrition Formula, the success of our research and development, the results of the clinical evaluation of Fortetropin and its effects, the ability to enter into new partnership opportunities and the success of our existing partnerships, the ability to generate the forecasted revenue stream and cash flow from sales of our products, the ability to continue increasing our revenue and gross profit margins, the ability to achieve a sustainable, profitable business, the effect of economic conditions, the ability to protect our intellectual property rights, competition from other providers and products, the continued listing of our securities on the Nasdaq Stock Market, risks in product development, our ability to raise capital to fund continuing operations, and other factors discussed from time to time in our filings with the Securities and Exchange Commission. We undertake no obligation to update or revise any forward-looking statement for events or circumstances after the date on which such statement is made except as required by law.
These statements have not been evaluated by the Food and Drug Administration. Our products are not intended to diagnose, treat, cure or prevent any disease.
Porter LeVay & Rose
Michael Porter, President
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SOURCE MYOS RENS Technology
Released October 2, 2018