PAXMAN’s scalp cooling system available at all the five highest-ranked cancer centres in the USA
PAXMAN announces that the company now has signed delivery agreements in the USA for its leading scalp cooling system with all of the five highest-ranked cancer treatment centres according to U.S. News & World Report’s annual ranking. This important milestone was achieved by an agreement for four systems with the last remaining top-ranked cancer center.
The most recent agreement follows the company’s business model in the USA, which means that PAXMAN receives a fixed sum directly from the patient for every single patient use cooling cap and each time the patient uses the cooling system. This successful business model, which PAXMAN is now also using in other parts of the world, minimizes the initial costs for the healthcare provider while also allowing the company to build a strong and sustainable cash flow.
"We are pleased and honoured that all of the five highest-ranked cancer centres in the USA now offer PAXMAN scalp cooling to its patients. This is an incredible achievement – a milestone reached less than a year after our FDA clearance in April 2017. There is no doubt that we are now the leading supplier of scalp cooling systems to minimize chemotherapy-induced hair loss. Our success on the US market, which is key to our global expansion, is also testimony to the growing understanding of the importance of scalp cooling as a way of improving quality of life and giving the patients increased control during chemotherapy treatment," says PAXMAN’s CEO Richard Paxman.
The PAXMAN Scalp Cooling System received market clearance by the FDA in April 2017, for use during chemotherapy treatment for breast cancer. The company expects to reach its initial target set for the US market – a total of 250 scalp cooling systems that are either installed or covered by signed delivery agreements – during the first year after the company’s FDA clearance. PAXMAN has also filed an application with the FDA for use of its scalp cooling system during treatment of patients with solid tumours. The expanded FDA clearance will substantially increase PAXMAN’s accessible market in the US.
For further information, please contact:
Richard Paxman, CEO
Tel: +44 7968 020641
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 14.00 CET on 27th February 2018.
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 close to 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.