Therma Bright Reviews Manufacturing Strategy in Light of US Tariff Changes
Toronto, Ontario--(Newsfile Corp. - April 16, 2025) - Therma Bright Inc. (TSXV: THRM) (OTCQB: TBRIF) (FSE: JNX) ("Therma" or the "Company"), a developer and investment partner specializing in advanced diagnostic and medical device technologies, is pleased to provide an update to address the potential impact of recent and evolving US tariff policies on our current manufacturing operations of Venowave in China, which serves the US market.
The Company is actively reviewing the implications of recent tariff changes imposed by the US on goods manufactured in foreign countries, particularly China. These tariffs have the potential to significantly increase the cost of our products sold in the US market. In response, Therma has initiated a comprehensive review of all available manufacturing options to ensure the long-term competitiveness and stability of our supply chain.
Therma is reviewing various manufacturing options which includes a thorough analysis of onshoring and establishing manufacturing capabilities within North America (Canada, USA, or Mexico).
The Company is also considering a hybrid approach; combining manufacturing of Venowave or component parts in China with onshoring in North America. In the case of continued full manufacturing of Venowave in China the option will be evaluated in conjunction with strategies to mitigate tariff costs, including potential absorption of some or all tariff expenses if financially feasible in the current dynamic environment.
The Company's decision-making process will extend beyond pure cost considerations and will encompass critical factors such as:
Supply chain resilience: assessing the stability and reliability of different manufacturing locations and potential risks.
Lead Times: evaluating the impact on production and delivery timelines.
Quality Control: ensuring consistent product quality across different manufacturing environments.
Intellectual Property Protection: considering the risks associated with different manufacturing locations.
Logistics and Transportation: analysing the efficiency and cost of moving goods from various manufacturing sites to the US market.
Market Access and Geopolitical Stability: evaluating the long-term implications of manufacturing locations on market access and geopolitical risks.
Therma Bright recognizes that the current tariff landscape is subject to change. Our analysis will consider various potential scenarios and their impact on our business.
It is important to emphasize that no final decision regarding our future manufacturing strategy has been made at this time. The Company is committed to keeping our shareholders informed. We will provide a further update once our comprehensive review is complete and a definitive course of action has been determined. We appreciate our shareholders' understanding as we navigate this evolving situation and work to ensure the long-term success of the Company.
Therma Bright would also like to announce that it continues to work with national distributors to expand the market presence for Venowave with further updates in the near future.
The Venowave VW5, which qualifies for Medicare and Medicaid HCPCS code reimbursement under 10 medical indications, is a compact, battery-operated peristaltic pump designed to enhance vascular and lymphatic flow in the lower limbs. When strapped below the knee, the device generates a wave-form motion that compresses the calf, promoting upward displacement of venous and lymphatic fluid. Powered by a single rechargeable 1.5V NiMH AA battery, the FDA-designated Durable Medical Equipment (DME) device allows users to receive treatment while staying active. The Venowave VW5 is built for durability and supports repeated use across multiple patients.
About Therma Bright Inc.Therma Bright develops and partners on cutting-edge diagnostic and medical device technologies that address key healthcare challenges. Therma Bright Inc. trades on the (TSXV: THRM) (OTCQB: TBRIF) (FSE: JNX). Visit: www.thermabright.com.
Therma Bright Inc.Rob Fia, CEOrfia@thermabright.com
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FORWARD-LOOKING STATEMENTS
Certain statements in this news release constitute "forward-looking" statements. These statements relate to future events such as manufacturing and future sales of Venowave and related technology as described in the news release. All such statements involve substantial known and unknown risks, uncertainties and other factors which may cause the actual results to vary from those expressed or implied by such forward-looking statements. Forward-looking statements involve significant risks and uncertainties, they should not be read as guarantees of future performance or results, and they will not necessarily be accurate indications of whether such results will be achieved. Actual results could differ materially from those anticipated due to several factors and risks. Although the forward-looking statements contained in this news release are based upon what management of the Company believes are reasonable assumptions on the date of this news release, the Company cannot assure investors that actual results will be consistent with these forward-looking statements. The forward-looking statements contained in this press release are made as of the date hereof and the Company disclaims any intention or obligation to update or revise any forward-looking statements whether because of new information, future events or otherwise, except as required under applicable securities regulations.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/248674
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Monitor blood pressure, serum potassium, edema, and kidney function regularly when used concomitantly with moderate CYP3A inhibitors. Concomitant use with a strong CYP3A inhibitor increases sparsentan exposure which may increase the risk of FILSPARI adverse reactions. Strong CYP3A Inducers: Avoid concomitant use with a strong CYP3A inducer. Concomitant use with a strong CYP3A inducer decreases sparsentan exposure which may reduce FILSPARI efficacy. Antacids and Acid Reducing Agents: Administer FILSPARI 2 hours before or after administration of antacids. Avoid concomitant use of acid reducing agents (histamine H2 receptor antagonist and PPI proton pump inhibitor) with FILSPARI. Sparsentan exhibits pH-dependent solubility. Antacids or acid reducing agents may decrease sparsentan exposure which may reduce FILSPARI efficacy. Non-Steroidal Anti-Inflammatory Agents (NSAIDs), Including Selective Cyclooxygenase-2 (COX-2) Inhibitors: Monitor for signs of worsening renal function with concomitant use with NSAIDs (including selective COX-2 inhibitors). In patients with volume depletion (including those on diuretic therapy) or with impaired kidney function, concomitant use of NSAIDs (including selective COX-2 inhibitors) with drugs that antagonize the angiotensin II receptor may result in deterioration of kidney function, including possible kidney failure. CYP2B6, 2C9, and 2C19 Substrates: Monitor for efficacy of concurrently administered CYP2B6, 2C9, and 2C19 substrates and consider dosage adjustment in accordance with the Prescribing Information. Sparsentan decreases exposure of these substrates, which may reduce efficacy related to these substrates. P-gp and BCRP Substrates: Avoid concomitant use of sensitive substrates of P-gp and BCRP with FILSPARI. Sparsentan may increase exposure of these transporter substrates, which may increase the risk of adverse reactions related to these substrates. Agents Increasing Serum Potassium: Monitor serum potassium frequently in patients treated with FILSPARI and other agents that increase serum potassium. Concomitant use of FILSPARI with potassium-sparing diuretics, potassium supplements, potassium-containing salt substitutes, or other drugs that raise serum potassium levels may result in hyperkalemia. Please see the full Prescribing Information, including BOXED WARNING, for additional Important Safety Information. Forward Looking Statements This press release contains "forward-looking statements" as that term is defined in the Private Securities Litigation Reform Act of 1995. Without limiting the foregoing, these statements are often identified by the words "on-track," "positioned," "look forward to," "will," "would," "may," "might," "believes," "anticipates," "plans," "expects," "intends," "potential," or similar expressions. In addition, expressions of strategies, intentions or plans are also forward-looking statements. Such forward-looking statements include, but are not limited to, references to: statements relating to the clinical studies and models described herein, and data to be presented; statements regarding the potential role of FILSPARI as foundational therapy for rare kidney diseases; statements regarding the impact of FILSPARI on IgAN disease progression; statements regarding the goal of advancing research and delivering innovative therapies that can make a meaningful difference for people living with IgAN and FSGS; and statements related to the estimated sizes of patient populations. Such forward-looking statements are based on current expectations and involve inherent risks and uncertainties, including factors that could delay, divert or change any of them, and could cause actual outcomes and results to differ materially from current expectations. No forward-looking statement can be guaranteed. Among the factors that could cause actual results to differ materially from those indicated in the forward-looking statements are risks and uncertainties related to the Company's sNDA for FILSPARI in FSGS, including the timing and outcome thereof. There is no guarantee that the FDA will grant approval of FILSPARI for FSGS on the anticipated timeline, or at all. The Company also faces risks and uncertainties related to its business and finances in general, the success of its commercial products, risks and uncertainties associated with its preclinical and clinical stage pipeline, risks and uncertainties associated with the regulatory review and approval process, risks and uncertainties associated with enrollment of clinical trials for rare diseases, and risks that ongoing or planned clinical trials may not succeed or may be delayed for safety, regulatory or other reasons. Specifically, the Company faces risks associated with the ongoing commercial launch of FILSPARI in IgAN, the timing and potential outcome of its and its partners' clinical studies, market acceptance of its commercial products including efficacy, safety, price, reimbursement, and benefit over competing therapies, risks related to the challenges of manufacturing scale-up, risks associated with the successful development and execution of commercial strategies for such products, including FILSPARI, and risks and uncertainties related to the new administration, including but not limited to risks and uncertainties related to tariffs and the funding, staffing and prioritization of resources at government agencies including the FDA. The Company also faces the risk that it will be unable to raise additional funding that may be required to complete development of any or all of its product candidates, including as a result of macroeconomic conditions; risks relating to the Company's dependence on contractors for clinical drug supply and commercial manufacturing; uncertainties relating to patent protection and exclusivity periods and intellectual property rights of third parties; risks associated with regulatory interactions; and risks and uncertainties relating to competitive products, including current and potential future generic competition with certain of the Company's products, and technological changes that may limit demand for the Company's products. The Company also faces additional risks associated with global and macroeconomic conditions, including health epidemics and pandemics, including risks related to potential disruptions to clinical trials, commercialization activity, supply chain, and manufacturing operations. You are cautioned not to place undue reliance on these forward-looking statements as there are important factors that could cause actual results to differ materially from those in forward-looking statements, many of which are beyond our control. The Company undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events, or otherwise. Investors are referred to the full discussion of risks and uncertainties, including under the heading "Risk Factors", as included in the Company's most recent Form 10-K, Form 10-Q and other filings with the Securities and Exchange Commission. 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Edison Lithium Provides Further Update on Sale of Interest in Resource Ventures S.A.
Vancouver, British Columbia--(Newsfile Corp. - June 3, 2025) - Edison Lithium Corp. (TSXV: EDDY) (OTC Pink: EDDYF) (FSE: VV0) ("Edison" or the "Company") is pleased to provide an update on the previously announced proposed sale of its Argentina subsidiary, Resource Ventures S.A. ("ReVe"), to Mava Gasoil LLC ("Mava") (the "Proposed Transaction"). To facilitate the completion of the Proposed Transaction, the Company has granted Mava an extension, and the parties now anticipate the completion of the closing on or before June 30, 2025. In consideration for the extension, Mava has agreed to pay an advance payment of US$100,000, which will be credited against the total purchase price of US$3,500,000 upon closing. The Company previously received an initial deposit of USD$100,000 from Mava and further payments of USD$3,100,000, USD$100,000 and USD$100,000 are payable by Mava to the Company and the two other shareholders of ReVe, respectively, upon closing. As previously disclosed, the proposed transaction contemplates Mava acquiring all of the issued and outstanding shares of ReVe for total consideration of USD$3,500,000. The completion of the Proposed Transaction remains subject to, among other conditions, TSX Venture Exchange final acceptance, and receipt of the balance of the purchase price. About Edison Lithium Corp. Edison Lithium Corp. is a Canadian-based junior mining exploration company focused on the procurement, exploration and development of cobalt, lithium, alkali and other energy metal properties. The Company's acquisition strategy is based on acquiring affordable, cost-effective, and highly regarded mineral properties in areas with proven geological potential. Edison is building a portfolio of quality assets capable of supplying critical materials to the battery industry and intends to capitalize on and have its shareholders benefit from the renewed interest in the battery metals space. On behalf of the Board of Directors: "Nathan Rotstein" Nathan RotsteinChief Executive Officer and Director For more information, please contact:Tel: 416-526-3217Email: info@ Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Forward-Looking Disclaimer: This news release contains certain forward-looking statements. Statements that are not historical facts, including statements about Edison's beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties and a number of factors could cause actual results to differ materially from those contained in any forward-looking statement. In some cases, forward-looking statements can be identified by words or phrases such as "may," "will," "will be", "expected," "anticipate," "target," "aim," "estimate," "intend," "plan," "believe," "potential," "continue,", "proposes", "contemplates", "is/are likely to" or other similar expressions. All information provided in this news release is as of the date of this news, and the Company undertakes no duty to update such information, except as required under applicable law. Forward-looking statements in this press release relate to, among other things: the proposed sale of ReVe, the anticipated timing and completion of the Proposed Transaction, the receipt of final TSX Venture Exchange approval for the disposition, the closing of the Proposed Transaction, and the receipt of the purchase price. Actual future results may differ materially. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements reflect the beliefs, opinions and projections of management on the date the statements are made and are based upon a number of assumptions and estimates that, while considered reasonable by the respective parties, are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies. Many factors, both known and unknown, could cause actual results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements and the parties have made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation: receipt of final TSXV approval required for the Proposed Transaction, and receipt of the purchase price. Readers should not place undue reliance on the forward-looking statements and information contained in this news release concerning these times. Except as required by law, the Company does not assume any obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by law. To view the source version of this press release, please visit Sign in to access your portfolio
