RTTNews | Mar 1, 2021 10:55AM EST

10:55 Monday, March 1, 2021 (RTTNews.com) - Shares of electroCore, Inc. (ECOR) are rising more than 50% Monday morning after the company entered into an exclusive distribution agreement with medical device distributor, Medistar for the company's non-invasive vagus nerve stimulator, gammaCore Sapphire.

As per the deal, Medistar will serve as the exclusive distributor of the gammaCore Sapphire in Australia, following regulatory approval for gammaCore Sapphire family of products in the country.

gammaCore is the first non-invasive, hand-held medical therapy applied at the neck as an adjunctive therapy to treat migraine and cluster headache through the utilization of a mild electrical stimulation to the vagus nerve.

."Medistar has demonstrable expertise in medical device distribution in Australia and we are incredibly excited to have its team working on behalf of electroCore," said Iain Strickland, electroCore's Vice President of European Operations.

GammaCore Sapphire launch is expected at the 2021 ANZHS Headache Annual Scientific Meeting, held on March 13-14.

ECOR, currently at $3.26, has traded in the range of $0.32- $3.63 in the last one year.

Read the original article on RTTNews ( https://www.rttnews.com/3173893/stock-alert-electrocore-zooms-50-following-distribution-deal-with-medistar.aspx)

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