MERIDIAN, Idaho, October 5th, 2020
PKG Inc. is pleased to announce a joint agreement with Adventus Venture, a medical device incubator, to finalize development and manufacturing plans for two companies in their portfolio: Allevion Therapeutics and Pressao Medical. PKG Inc. has been in business for over 30 years, developing complex and high-tech products for healthcare, aerospace, industrial, and government markets. In addition to the primary business model that supports Fortune 500 customers, PKG has heavily invested in developing infrastructure for the incubation and acceleration of start-up companies in the medical device sector.
“For the last five years, PKG has been diligently working to strengthen our position as a future leader in state-of-the-art medical, aerospace, industrial and government product development and manufacturing. We are excited to continue delivering innovative products that enable us to fulfill our vision and values,” said Almir Garibovic, CEO of PKG. “As PKG is in the final stages of joining Cerebain Biotech Corporation, we are very eager to continue investing in promising start-up companies. With the addition of these highly sophisticated products for Allevion Therapeutics and Pressao Medical, we will ensure that our vision and long-term strategy are aligned with Cerebain Biotech Corporation. Once the merger is complete, we intend to add several more start-up companies to our investment portfolio in the near future.”
“Global neuromodulation market opportunities for both Allevion Therapeutics and Pressao Medical are significant and expected to grow substantially with the increasing aging population. We are very pleased with our relationship with PKG and looking forward to entering the final phase of product development and manufacturing as we are preparing for regulatory filings and international commercialization," said Shawn Moaddeb, Founder and Chairman of Adventus Ventures.
Allevion Therapeutics and Pressao Medical are part of the portfolio of Adventus Ventures, LLC, a medical device venture capital company.
Allevion Therapeutics is developing a smart wrist-wearable device (Allevx™) to reduce hand and leg tremor, specifically essential tremor (ET). Allevx™ is considered to be the next-generation neuromodulation device that delivers an individualized noninvasive, multi-modal energy therapy to alter the activity of nerves responsible for tremors. This breakthrough energy system has the potential to address essential tremor and other movement-related disorders, such as Parkinson's disease and dystonia. Millions of people struggle with ET, a movement disorder far more common than Parkinson's, with a significant impact on mobility and quality of life. These numbers are expected to increase more than 6% annually. For more information, visit the company's website at www.alleviontx.com.
About Pressao Medical:
Pressao Medical is a neuromodulation therapeutics company focused on the development of a smart noninvasive energy-based wearable devices for treatment of prehypertension and hypertension. Pressao Medical has two products under development. The first is BP-ADJUST™, a new device in the form of a wristwatch that monitors blood pressure (BP) and heart rate and uses the information to deliver unique energy therapy to control BP. The second product is BP-ADJUST™ CV. This device uses the same technology, plus additional features that monitor vital diagnostic information, such as ECG, heart rate variability, and oxygen level in combination with BP. The system is completely battery-operated, with rechargeable capabilities and wireless data communication. For more information, visit the company's website at www.pressaomd.com
PKG, Inc. was established in 1989 and is a privately held corporation based out of Meridian, ID. PKG, Inc. specializes in contract design, development, and manufacturing of system-level devices with expertise in human-machine interfaces. With experience in medical, aerospace, government, and industrial products, PKG helps to raise your company to the next level by leveraging our skills in engineering and technology integration across your product lines. With a complete in-house vertical integration of expertise, services, manufacturing processes, and technologies, PKG provides our customers with all of their product development and manufacturing needs. In addition to our expertise in system-level devices and human-machine interfaces, PKG also offers incubation and acceleration services for start-up businesses and entrepreneurs.
For more information, visit the company's website at www.pkguis.com