Scandinavian ChemoTech initiates a new long-term strategy for its two business areas
After a year full of success, the Company initiates its new strategy that clarifies the way forward for the Company's two business areas.
Since 2020, the ChemoTech Group has been conducting two business areas, veterinary and human medicine, which, in addition to sharing the unique TSE1 technology, have relatively different conditions. As a result, the Company has worked with an overall strategy during the year in order to optimise the clinical and commercial opportunities for each business area.
Vetiqure (Animal Care)
It is clear today that the Company's veterinary operations have at least as great commercial opportunities as the Company's human medicine operations, but where sales and clinical success can be reached in parallel. Vetiqure will therefore place great focus on sales activities in Europe, the USA and the Middle East. In parallel with the commercial efforts Vetiqure will conduct clinical studies to demonstrate the competitive advantages of TSE compared to the older ECT2 technology. Unlike human medicine, these studies will be significantly smaller and with less regulatory and administrative processes.
ChemoTech (Human Care)
Following the successful CE mark of IQwave 3.0 CE and the establishment of the collaboration with the Government Hospital AIIMS Hospital in Jodhpur, India, the Company is ready to increase the pace in both clinical and commercial development. Here, however, the growth in sales is not expected to go as fast as for Vetiqure.
A new strategy is now in place where the Company clearly establishes two separate market strategies for TSE treatments for humans, one for superficial tumours and one for the development project for deep-seated tumours. In connection with this, the company's pain treatment program for tumours in the spine and bones (D-EEPC3) is also merged with TSE for deep-seated tumours.
IQwave 3.0 CE, which was primarily developed for superficial tumours, will continue to have Asia, the Middle East and Africa as its main markets. In these markets, the need for new technology for superficial tumours is significantly greater than in Europe and market establishment can happen much faster.
The establishment of our new "Centre of Excellence" at the Innovation Centre at AIIMS in Jodhpur, is a great milestone for ChemoTech. There, partly state-funded studies will be conducted in order to create clinical documentation to support a broad launch of TSEs in India as well as other parts of Asia.
In order to seriously establish TSE in Europe and North America, the Company will concentrate its operations on collaborations where hospitals and institutes already have funding for studies on cancer indications for deep seated tumours in sensitive locations, such as pancreatic cancer. This is where TSE's unique and more gentle properties create great interest. Through this, we establish two human medical clinical specialisations, each with enormous potential and which can largely share our CE-marked TSE platform.
“It really feels like ChemoTech has reached a whole new level when we can now establish collaborations with leading organisations and medical researchers who share our vision of the possibilities with our TSE technology. It then becomes even more important to create a long-term strategy and build on our technology and knowledge.” - says Mohan Frick, CEO
1TSE = Tumour Specific Electroporation
2ECT = Electro Chemo Therapy
3D-EEPC = Dynamic Electro-Enhanced Pain Control
For further information please contact: Mohan Frick, CEO
+46 (0)10-218 93 00
info@chemotech.se
Certified Adviser: Erik Penser Bank, Tel: +46 8 463 80 00, E-mail: certifiedadviser@penser.se
Scandinavian ChemoTech AB (publ)
ChemoTech is a Swedish medical technology company based in Lund that has developed a patented technology platform to offer cancer patients access to a new treatment alternative, Tumour Specific Electroporation™ (TSE), available for treatment of both humans and animals. There are a large number of cancer patients whose tumours for various reasons cannot be treated by conventional methods but where TSE can be a solution. Therefore, the company continuously evaluates new opportunities and areas of application for the technology. ChemoTech's shares (CMOTEC B) are listed on Nasdaq First North Growth Market in Stockholm and Erik Penser Bank is the company's Certified Adviser. Read more at: www.chemotech.se.
