From GlobeNewswire: 2024-04-02 08:00:00

Envoy Medical, Inc. provided a corporate update on its investigational fully implanted Acclaim Cochlear Implant. The device has met milestones in the Early Feasibility Study, with three patients surpassing twelve-month post-activation visits. A bipartisan Congressional bill, the Hearing Device Coverage Clarification Act, aims to secure insurance coverage for Envoy’s Esteem Fully Implanted Active Middle Ear Implant.

Key financial and corporate highlights include completing a Business Combination transaction in September and beginning trading on Nasdaq as COCH in October 2023. Envoy Medical secured up to $10 million in debt financing and announced four additional patents. Revenue increased by $79,000 in 2023, R&D expenses rose by $4.0 million, and sales and marketing expenses increased by $0.8 million.

Envoy Medical’s investigational Acclaim Cochlear Implant leverages fully implanted technology to address severe to profound sensorineural hearing loss. The Acclaim CI features a sensor that captures sound without an external microphone. The Esteem Fully Implanted Active Middle Ear Implant is the only FDA-approved device for moderate to severe sensorineural hearing loss that requires no external components for daily use.

Looking ahead, Envoy Medical plans to conduct a pivotal clinical trial for the Acclaim Cochlear Implant in 2024. The company remains focused on innovation and progress in the hearing implant industry. For more detailed financial information and forward-looking statements, interested parties can refer to documents filed by Envoy Medical with the SEC. Envoy Medical’s goal is to become the leading hearing implant company, with a commitment to improving hearing health worldwide.



Read more at GlobeNewswire:: Envoy Medical Reports Fourth Quarter and Full Year 2023