Peijia Medical announced that its wholly-owned subsidiary, Achieva Medical Limited ("Achieva Medical"), entered into an exclusive distribution agreement with Jiangsu NowYon Medical Limited ("NowYon Medical") on August 28, 2024. Under the terms of the agreement, Achieva Medical has been appointed as the exclusive distributor for NowYon Medical's innovative YonFlow® flow diverter for a period of eight years from the date of the agreement.
YonFlow® flow diverter is the core product of NowYon Medical and is also the world's first fully retrievable blood flow guiding stent system. In January 2023, the product passed the innovative medical device review and was accepted into the special approval procedure for innovative medical devices by the NMPA. In addition, the registration approval application for this product has been submitted to the NMPA and is expected to be approved in the near future.
