Change of Supplier delays launch until Q1, 2019

QuickCool AB (Publ) ("QuickCool") informs that a change of supplier delays the CE-mark process, and thus also the launch of the QuickCool© SYSTEM. According to the updated time plan, the launch is scheduled for the first quarter, 2019.

When QuickCool initiated ordering of components in June to ensure the supply for the year, QuickCool’s supplier of flow sensors reverted with the news that they have discontinued the production of the component with immediate effect. Additionally, since the supplier did not have any components in stock, QuickCool was forced to find a new supplier. QuickCool has identified a new supplier that will ensure supply of the replacing component.

”Although the change of supplier and component delays the CE-mark process, the technical solution will be better suited for the future when we introduce so called line extensions. We have chosen to replace the original flow sensor with an ultrasound solution instead, which offers enhanced reliability and reduces the cost per unit for the cooling device, but particularly on our disposable Nasal Cooling Kit. We become even more competitive in the market place and improve our margins both in the short-term as well as long term”, CEO Fredrik Radencrantz, says.

The work to replace the flow sensor started in July and the new solution will be fully integrated in September, after which the third party testing and review of our technical files will continue according to plan.

For additional information, please contact:
Fredrik Radencrantz, CEO

Phone: 046-286 38 40
E-mail: fredrik.radencrantz@quickcool.se

This information is such that QuickCool AB is required to make public in accordance with the EU’s market abuse regulation (MAR) and the Swedish Securities Market Act. The information was made publicly available by the Company’s contact person on 21 August, 2018.

Quickcool is a Swedish medical technology company, whose business concept is to save lives and prevent brain damage in acute ischemia (Inadequate blood supply to the brain) by developing and providing a unique and globally patented cooling system, the Quickcool SYSTEM. Quickcool is active in the fast-growing market, Targeted Temperature Management (TTM), for brain-protective cooling treatment of patients with e.g. acute cardiac arrest and stroke. QuickCool’s solution protects the brain by cooling in the nasal cavity and thus takes advantage of the innate heat exchanger in the nose. QuickCool’s Intranasal method offers gentle and uninterrupted cooling treatment for sedated patients. Quickcool is listed on Spotlight Stock Market and conducts its business at Ideon Science Park in Lund. For more Information, please refer to www.quickcool.se

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