PAXMAN receives first order from Teva in Mexico for 17 scalp cooling systems

PAXMAN announces that the company has received a first order from its license partner Teva Pharmaceutical Industries Ltd for 17 scalp cooling systems to Mexico. The systems are to be installed at five cancer centres, three of which will install systems in Mexico City. 

The order marks a strong start for PAXMANs launch in Mexico since the market approval in April of 2018. At the same time, it is completely in line with the substantial interest that the company has received from both cancer centres and patients in Mexico.

“There are a number of renowned cancer centres in Mexico that want to start using scalp cooling, and it is inspiring that we will now be able to offer their patients a better quality of life during chemotherapy treatment. I also want to highlight our beneficial collaboration with Teva, that has made it possible to launch in Mexico in a fast and efficient manner,” says PAXMAN’s CEO Richard Paxman.

“It is exciting that we will now install the first scalp cooling systems from PAXMAN here in Mexico, and we expect the demand to rise as these installations show good results. This product is a valuable addition to our oncology portfolio, and we have already received positive feedback from both clinicians and patients for bringing it to Mexico,” says Guillermo Ibarra, General Manager of Teva Mexico.

As announced in January 2018, PAXMAN has signed an exclusive license agreement regarding the Mexican market with the global pharmaceutical company Teva Pharmaceutical Industries Ltd. Teva is established in the oncology treatment field in several international markets and is thus considered an excellent partner that will assist in increasing PAXMAN’s global expansion rate. If the market launch in Mexico is successful, the partners intend to expand the collaboration to additional markets.

For PAXMAN, the license agreement with Teva will generate ongoing revenues based on every cold cap or treatment sold and is thus similar to its successful business model in the USA.

Media contacts:

PAXMAN
Richard Paxman, CEO
Tel: +44 7968 020641
Email: richard@paxmanscalpcooling.com

TEVA
Joelle Inowlocki
Tel: +972 3926 7587 
Email: Joelle.Inowlocki@teva.co.il

This information is information that PAXMAN AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 15.35 CET on 17 July 2018.

About PAXMAN
The Paxman Scalp Cooling System has been developed by the Paxman family to reduce hair loss in breast cancer patients undergoing chemotherapy. The concept behind the system came when the mother of four, Sue Paxman, experienced first-hand the trauma of chemotherapy-induced hair loss. With more than 3,000 systems delivered in to hospitals, clinics and treatment centres around the world, PAXMAN is the leading supplier of Scalp Cooling technology. PAXMAN’s scalp-cooling cap is made from lightweight, biocompatible silicone that is soft and flexible, providing a snug yet comfortable fit during treatment. PAXMAN AB (publ) has its headquarters in Karlshamn (Sweden), with subsidiaries in Huddersfield (UK) and Houston, Texas (US)

The PAXMAN share is listed on Nasdaq First North. FNCA Sweden AB is the company’s Certified Adviser.

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