ChemoTech launches IQWave™ in Myanmar
ChemoTech has signed a distributor agreement for Myanmar with Gold Lite Private Limited (Gold Lite) in Singapore. The agreement includes an order of at least one IQWave™ D-EECT-machine. This means that ChemoTech has signed agreements of a total of five IQWave™-machines during the first eight months of the year.
The agreement with Gold Lite is part of the market expansion, that ChemoTech's distributor ABEX in Malaysia was given as option by ChemoTech earlier this year. Gold Lite in Singapore, a sister company to ABEX in Malaysia, is responsible for all the operations in Myanmar. ABEX has therefore chosen to transfer its option for Myanmar to its sister company. The product expertise throughout the Group will still be built up by ABEX in Kuala Lumpur.
The agreement guarantees an order of at least one IQWave™ D-EECT-machine and that Gold Lite will achieve a certain level of sales within the next two years. The sales rate is, of course, overseen by a registration process of IQWave™.
The ABEX Group has proven to be very serious in launching IQWave™. They have dedicated and highly experienced executives who operate our project, which makes us strongly believe in our continued cooperation, says Mohan Frick, CEO of ChemoTech.
For more information, please contact:
Mohan Frick, CEO
+46 (0)10-218 93 00
This information is such information which Scandinavian ChemoTech AB (publ) are obligated to make public according to EU’s market abuse regulation. The information was submitted by the agency of above stated contact person, to be made public on Monday 20th of August 2018 at 11.00 (CET).
Scandinavian ChemoTech AB (publ)
ChemoTech is a young and dynamic life science company that possesses a great medical expertise and technical knowledge. Our latest launch of IQWave™ is an innovation within electrochemotherapy, that is adapted for the treatment of different types of tumors. ChemoTech strives to contribute to a more accessible cancer care. ChemoTech's shares (CMOTEC B) are listed on Nasdaq First North in Stockholm and Västra Hamnen Corporate Finance AB is the company's Certified Adviser. The company is headquartered in Malmö, in the midst of the medical technology expansionary Öresund region.