ADM Tronics Unlimited, Inc., (ADMT) Northvale, NJ—a technology-based medical device manufacturer and developer—announced that its subsidiary, Aurex International Corporation (AIC), has entered into a Memorandum of Understanding with Gama Research and Development LTD also known as Otifleks—a producer of advanced hearing protection devices—to jointly develop and manufacture proprietary tinnitus prevention earplugs and for AIC to also market and sell Otifleks’ current line of hearing protection devices. Otifleks produces a comprehensive line of specialized hearing protection devices used by the military, in medical applications, for those with pressure sensitivity during plane travel, and for general applications, which are sold throughout Europe. AIC will market Otifleks line of products in the United States.
According to ADM, Otifleks is a developer and manufacturer in Istanbul, Turkey, with award-winning innovations in advanced hearing protection. The company took home a Gold Medal at the Geneva Inventions Exposition and was a winner of the Reddot Design Award. Hamit Kuralkan, founder and CEO of Otifleks, said, “I look forward to this collaboration with AIC and ADMT. We will strive to develop a state-of-the-art product to protect people from the debilitating onset of tinnitus.”
As previously announced, AIC is spearheading the launch of a re-engineered version of ADMT’s patented, FDA-cleared, proprietary medical device
Aurex-3®. The new Aurex-3 will be regulated as a prescription device to be used for the treatment and control of tinnitus. It will be exclusively manufactured by ADMT in its FDA-registered medical device manufacturing facility and made available for both national and international distribution. Management has determined that the addition of a tinnitus prevention product, as contemplated by the arrangement with Otifleks, will expand the activities and revenue potential for AIC.
Mark Brenner, CEO of ADMT subsidiary AIC said, “We are extremely excited about the potential for a tinnitus prevention technology as part of our offerings from AIC. The addition of tinnitus preventative products, alongside tinnitus treatment technology, provides an holistic approach to the complex health service challenge that tinnitus presents. Otifleks is an excellent partner to work with in bringing this to the world market, as well as for us to produce revenues with the Otifleks current line of hearing protection products.”
Tinnitus is an auditory condition, described as the perception of sound in the head, when no outside sound is present. It is typically referred to as “ringing in the ears.” The American Tinnitus Association estimates that there are up to 50 million tinnitus sufferers in the U.S. and some 250 million worldwide.