ENDRA Life Sciences Inc. (NASDAQ: NDRA)

ENDRA Life Sciences Inc. is a medical device company that develops a next generation ultrasound platform called Thermo Acoustic Enhanced Ultrasound or TAEUS.

The company’s initial application of TAEUS measures fat content in the liver to serve as a biomarker for metabolic diseases and to support the management of GLP 1 based therapies.

ENDRA aims to provide an accurate simple to use low cost point of care test that can be used in various clinical settings.

ENDRA generates revenue primarily from the sale of its TAEUS liver device system and related service offerings.

The company offers both a traditional direct sales model with annual upgrade and maintenance fees and a new subscription based model that provides monthly recurring revenue.

Revenue may also come from licensing the TAEUS technology to original equipment manufacturers for integration into their ultrasound or therapeutic equipment.

ENDRA positions itself as the sole developer of radio frequency based thermoacoustic ultrasound technology for liver fat assessment.

It competes with large imaging companies such as GE Healthcare Philips Siemens Canon and Fujifilm which provide ultrasound MRI and CT systems.

Additionally it faces competition from biopsy tool makers like Cook Medical and Sterylab and from temperature probe suppliers such as Medtronic and St Jude Medical.

ENDRA’s competitive advantage lies in its ability to deliver fat quantification temperature monitoring vascular imaging and perfusion data using a low cost add on that works with existing ultrasound scanners avoiding the need for expensive MRI or invasive procedures.

ENDRA’s customers include pharmaceutical companies and contract research organizations that use the device to screen and monitor subjects in GLP 1 and metabolic disease trials.

The company also serves high end primary care networks often known as concierge medicine bariatric and metabolic clinics and broad primary and internal medicine practices.

No specific customer names are disclosed in the filing.