Senzime signs distribution agreement in South Korea
Press release: Uppsala, March 19, 2018. Senzime AB (publ) today announced that it signed an exclusive distribution agreement with Unimedics (unimedics.co.kr) for the commercialization of the TetraGraph in South Korea. Compensation will be paid per unit in line with current industry compensation including a minimum guaranteed sale. The registration process is estimated to be finalized during 2019.
South Korea is a technology-driven country with a vast interest in innovations, especially in the healthcare segment. Unimedics’ product portfolio is a perfect fit for the TetraGraph system as it complements the TetraGraph with its ADMS monitor measuring the depth of Anesthesia, while the TetraGraph measures the depth of neuromuscular block to ensure optimal surgical conditions and avoid unintended patient recall. Because of Unimedics’ well-established sales force that includes both internal and external sales representatives, the TetraGraph will achieve maximum exposure and strong sales capacity throughout South Korea. There are over 3000 hospitals in the country and annually 1.3 million operations are performed with anesthesia, of which muscle relaxants are used in more than half of these.
Lena Söderström, Senzimes CEO, commented:” We have had a great deal of interest from South Korean clinicians and are happy that we can initiate the regulatory process together with Unimedics for commencing sales in South Korea during next year. Unimedics has the infrastructure and experience needed to make the TetraGraph into a market leader in South Korea.”
Senzime participated along with Unimedics’ during the KIMES conference on March 15-18. At the KIMES conference, the latest medical industry trend was presented, where 1,200 domestic and overseas manufacturers exhibited new technologies and products, making KIMES the largest medical conference in South Korea.
The TetraGraph is an innovative and user-friendly system for monitoring patients undergoing general anesthesia with muscle relaxant drugs. The system makes it possible to objectively determine the correct dose of muscle relaxants to optimize surgical conditions, and helps the clinician determine when the patient is sufficiently recovered to sustain spontaneous breathing. TetraGraph is intended to easily and precisely monitor the effects of muscle relaxant drugs and their reversal agents and to reduce postoperative complications and healthcare costs. The system consists of a portable, hand-held patient monitoring unit and non-invasive disposable sensors.
Senzime has previously entered distribution agreements for TetraGraph in the UK, Ireland, Switzerland, Australia, New Zealand, Spain and Portugal and licensing agreements in Japan. Discussions are ongoing with distributors for additional markets and additional agreements are expected during 2018.
For further information, please contact:
Lena Söderström, CEO of Senzime AB
Tel: +46 708-16 39 12, email: email@example.com
TO THE EDITORS
Senzime develops unique patient-oriented monitoring systems that make it possible to assess patients' biochemical and physiological processes before, during and after surgery. The portfolio of technologies includes bedside systems that enable automated and continuous monitoring of life-critical substances such as glucose and lactate in both blood and tissues, as well as systems to monitor patients’ neuromuscular function perioperatively and in the intensive care medicine setting. The solutions are designed to ensure maximum patient benefit, reduce complications associated with surgery and anesthesia, and decrease health care costs. Senzime operates in growing markets that in Europe and the United States are valued in excess of SEK 10 billion. The company's shares are listed on Nasdaq First North (ticker SEZI). FNCA is Certified Adviser for Senzime. www.senzime.com
This information is insider information that Senzime AB 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, on March 19, 2018.