Autonomix Completes Licensing Transaction for FDA-Cleared Ablation Technology

RF Innovations' Apex 6 Generator aligns with specifications required for Autonomix's ablation system and facilitates ongoing development

Transaction further reinforces Autonomix's FDA regulatory pathway

THE WOODLANDS, TX, July 24, 2024 (GLOBE NEWSWIRE) -- Autonomix Medical, Inc. (NASDAQ:AMIX) ("Autonomix" or the "Company"), a medical device company focused on advancing innovative technologies to revolutionize how diseases involving the nervous system are diagnosed and treated, today announced it has completed its previously announced transaction with RF Innovations, Inc., a privately held medical technology company, to license the intellectual property to its Apex 6 Radiofrequency Generator. The transaction, for 250,000 shares of common stock, grants Autonomix a perpetual non-exclusive worldwide and royalty-free license of the Apex 6 Generator intellectual property, as well as enhances the Autonomix supply chain with RF Innovations' experienced manufacturing partner.

The Apex 6 Generator is an FDA-cleared ablation technology designed to lesion neural tissue for pain management in the peripheral nervous system and will be a component of the sensing and ablation system submitted to gain FDA clearance for Autonomix's technology. Autonomix plans to utilize the technology in its strategic therapeutic areas to drive value across its pipeline.

"The Apex 6 Generator's compatibility with the specifics for our radiofrequency generator ablation system de-risks incremental product development and further accelerates our journey towards FDA clearance. We are pleased to successfully execute this transaction and advance the development and commercialization of our innovative technology platform, which we believe has the potential to fill an important unmet need for patients. With this transaction now complete, we are focused on working with RF Innovations' manufacturing partner and integrating them into our supply chain as quickly and efficiently as possible," commented Brad Hauser, President and Chief Executive Officer of Autonomix.

To facilitate equipment development, activities will begin immediately with RF Innovations' manufacturing partner who will be incorporated into Autonomix's manufacturing supply chain.

Autonomix is initially developing its technology to address pancreatic cancer-related pain, with plans for follow-on indications pending the results of the initial data. Current approaches, primarily relying on opioids or invasive ethanol injections, can provide only limited relief and may lead to risky side effects. For more information about the Company's technology, please visit autonomix.com.

About Autonomix Medical, Inc.

Autonomix is a medical device company focused on advancing innovative technologies to revolutionize how diseases involving the nervous system are diagnosed and treated. The Company's first-in-class technology platform includes a catheter-based microchip sensing array that has the ability to detect and differentiate neural signals with approximately 3,000 times greater sensitivity than currently available technologies. We believe this will enable, for the first time ever, transvascular diagnosis and treatment of diseases involving the peripheral nervous system virtually anywhere in the body.

We are initially developing technology for the treatment of pain, with initial trials focused on pancreatic cancer, a condition that causes debilitating pain and is without a reliable solution. Our technology constitutes a platform to address dozens of indications, including cardiology, hypertension and chronic pain management, across a wide disease spectrum. Our technology is investigational and has not yet been cleared for marketing in the United States.

For more information, visit autonomix.com and connect with the Company on X, LinkedIn, Instagram and Facebook.

Forward Looking Statements

Some of the statements in this release are "forward-looking statements," which involve risks and uncertainties. Forward looking statements in this press release include, without limitation, the ability of Autonomix to adapt the licensed technology for its specific use case. Such forward-looking statements can be identified by the use of words such as "should," "might," "may," "intends," "anticipates," "believes," "estimates," "projects," "forecasts," "expects," "plans," "can," and "proposes."

Although Autonomix believes that the expectations reflected in these forward-looking statements are based on reasonable assumptions, there are a number of risks and uncertainties that could cause actual results to differ materially from such forward-looking statements. You are urged to carefully review and consider any cautionary statements and other disclosures, including the statements made under the heading "Risk Factors" and elsewhere in the Annual Report on Form 10-K filed with the U.S. Securities and Exchange Commission ("SEC") on May 31, 2024. Forward-looking statements speak only as of the date of the document in which they are contained and Autonomix does not undertake any duty to update any forward-looking statements except as may be required by law.

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