Lucius Partners Portfolio Company AerWave Medical, Inc. Announces it Initiated Filing of Regulatory Documents for First in Man Studies

Important step in improving patient care in treatment of COPD & Asthma

NEW YORK, April 4, 2023 (GLOBE NEWSWIRE) — Lucius Partners, LLC (“LP”), today announced the initiation of submissions to begin first in man studies of AerWave’s unique ultrasound technique for lung denervation.

Two studies are planned to be performed in two European countries. Aerwave believes that the studies could start as soon as the 2nd quarter of 2023. The studies will evaluate patients undergoing lung denervation with the AerWave’s novel device to treat Asthma and COPD.  Each study is expected to enroll 5 patients who will each receive AerWave’s treatment.  Safety and efficacy of lung denervation with ultrasound will then be evaluated.

AerWave offers an interventional approach to treat Asthma, COPD and advanced lung disease, which addresses a significant unmet medical need. It is targeting the addressable COPD market made up of 4 million patients in the US, and the addressable Asthma market of 2.5 million patients in the US.  The Company has a seasoned, experienced executive team with a track record of value creation.

The studies are designed to determine the safety and efficacy of lung denervation with the AerWave device.

“We are gratified to take this transformative step for AerWave and pulmonary patients worldwide,” stated Jeff O’Donnell, AerWave Chief Executive Officer.   “This initial experience with our novel device will give us valuable information that can guide our path to regulatory approval.”

“Look forward to working with the relevant authorities to secure approval to begin these trials, which will be a step closer to helping COPD and asthmatic patients worldwide”, added Reinhard Warnking, AerWave President and Chief Technology Officer. “These two studies are part of our efforts to create a safer and simpler procedure, versus other treatment options.”

James Ahern, Founding Partner, Lucius Partners added, “We are in a very exciting time of growth for Lucius Partners.  We applaud the efforts of management to continue to build a valuable and dynamic company.  Further, we will continue to fully vet new opportunities moving forward, focusing on our ability to add value for our companies and investors.”

About AerWave Medical, Inc.
AerWave Medical is dedicated to creating and advancing medical devices to address unmet medical needs in Pulmonary medicine and beyond, using proprietary technology developed by our highly accomplished scientists.

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About Lucius Partners, LLC
Lucius Partners is a consultancy that provides a broad suite of services to help healthcare companies grow, achieve milestones, and generate value for their shareholders.

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Investor Contacts:

Matthew Duffy, Managing Partner

Patrick Gallagher, Managing Partner