NeuroMetrix Partners with Handok Pharmaceuticals for NC-stat DPNCheck Distribution in the Republic of Korea

  NeuroMetrix Partners with Handok Pharmaceuticals for NC-stat DPNCheck
  Distribution in the Republic of Korea

Business Wire

WALTHAM, Mass. -- March 12, 2013

NeuroMetrix, Inc. (Nasdaq: NURO), a medical device company focused on the
diagnosis and treatment of the neurological complications of diabetes,
announced that it has entered an agreement with Handok Pharmaceuticals, Inc.
Under terms of the agreement, Handok will be the exclusive distributor for
NC-stat^® DPNCheck^™ in the Republic of Korea. NC-stat DPNCheck is a rapid,
accurate and quantitative point-of-care test for diabetic neuropathy. The
product is used to detect neuropathy at an early stage and to guide treatment.
Diabetic peripheral neuropathy (DPN) is the most common complication of
diabetes, affecting over half of people with diabetes. DPN causes significant
morbidity including pain, increased risk of falling in the elderly, and is the
primary trigger for diabetic foot ulcers which may require lower extremity
amputations.

The Korea market is characterized by high prevalence of people with diabetes.
The Korea National Health and Nutrition Examination Survey (KNHANES), a
nationwide survey examining the general health and nutrition status of the
Korean people, reported in 2008 that the prevalence of diabetes in the Korea
population was estimated at 10.9% representing about 2.6 million people. While
the overall prevalence had not changed significantly during the seven year
study period, physician diagnosis and treatment rates had significantly
improved. Handok Pharmaceuticals has been a leader in supporting physicians in
this field and considers diabetes to be a core business focus. It offers a
range of diabetes products including systems for hemoglobin A1c testing, blood
glucose meters, and pharmacological products for pain associated with nerve
disease. Handok distributes its products through direct sales representatives
in its hospital and physician clinic sales teams. It also works with
independent distributors in Korea. It intends to utilize both direct and
indirect sales channels in promoting NC-stat DPNCheck.

"As a company that values innovation in health care, we are pleased to have
the opportunity to bring the diagnostic capabilities NC-stat DPNCheck to the
Korea market,” stated Young-jin Kim, Handok’s CEO. “It broadens the range of
products we offer to Koreans with diabetes while leveraging our established
sales channels. We look forward to a long relationship with NeuroMetrix.”

"Handok’s commitment to diabetes care and long history of collaboration with
foreign companies make it an attractive partner as we begin to build our
presence in Asian markets.” said Shai N. Gozani M.D., Ph.D., President and
Chief Executive Officer of NeuroMetrix. “The Korea market is important to this
initiative, and we hope to further expand our presence in these large and
important markets over the coming months.”

About HANDOK Pharmaceuticals

HANDOK, a leading innovation-driven pharmaceutical/healthcare company in
Korea, develops, manufactures and distributes healthcare solutions to improve
health and quality of life for all. Handok has a core business focus in
diabetes, cardiovascular, oncology, human vaccines, medical devices,
diagnostics and consumer health. Handok, founded in 1954, has grown as a joint
venture with Hoechst/Aventis/Sanofi and has established strategic
collaborations in several areas with multiple multinational pharmaceutical
companies. For more information, please visit http://www.handok.co.kr.

About NeuroMetrix

NeuroMetrixis an innovative medical device company that develops and markets
home use and point-of-care devices for the treatment and management of
diabetic neuropathies, which affect over 50% of people with diabetes. If left
untreated, diabetic neuropathies trigger foot ulcers that may require
amputation, cause disabling chronic pain, and increase the risk of falling in
the elderly. The annual cost of diabetic neuropathies has been estimated
at$14 billioninthe United States. The company’s products are used by
physicians and managed care organizations to optimize patient care and reduce
healthcare costs. The company markets the NC-stat^®DPNCheck^™device, which
is a rapid, accurate, and quantitative point-of-care test for diabetic
neuropathy. This product is used to detect diabetic neuropathy at an early
stage and to guide treatment. The company also markets the SENSUS™ Pain
Management System for treating chronic pain, focusing on physicians managing
patients with painful diabetic neuropathy. The company has additional
therapeutic products in its pipeline. For more information, please visit
http://www.neurometrix.com.

Contact:

NeuroMetrix, Inc.
Thomas T. Higgins, 781-314-2761
SVP and Chief Financial Officer
neurometrix.ir@neurometrix.com
 
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