Rhinomed (ASX:RNO) should trade firmer after appointing Australian based EI Trading and its Israeli subsidiary AirActive as inaugural distribution partner for its Turbine nasal dilation device in Israel.
The deal seeks to introduce the Turbine range of technologies into the Israeli cycling and triathlon community and place the Turbine into over 450 Israeli cycling retailers.
Rhinomed is focused on producing leading technologies and launching these into the international marketplace.
Air Active has a strong relationship with the Israeli Pharmacy sector and will be utilising this network, alongside its partnership with leading bike retailers to grow the presence of the Turbine range in Israel.
A distributor with strong links into pharmacy retailers puts in place the foundations for extending the agreement to our sleep apnea range of products which Rhinomed is on track to launch later this year.
Last month, the Turbine was granted registration with the US Food and Drug Administration as a medical device.
The Turbine is an internal nasal dilator that increases airflow by an average of 38% and can assist athletes as a solution to breathlessness during aerobic exercise.
A recent independent high performance product trial showed that 66% of professional riders increased their power output at an average of 6.5%.
US FDA registration of the Turbine is an important step in allowing the Turbine to enter the giant US market with premium positioning as a FDA class 1 medical device in the US.
The Turbine is currently sold on line and at selected retail outlets in Australia.
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