Monivent signs a Letter of Intent (LOI) to enter a global distribution agreement with a major industry leading player
A defining step towards a commercial breakthrough for Monivent’s innovative product (Neo100), supporting a gentle and effective ventilation of newborns, is a strong collaboration with an industry partner with global commercial reach. The signed LOI marks a clear commitment from both parties to negotiate a global distribution and joint product development agreement.
As previously communicated, a commercial partnership with one of the market leaders with a matching product portfolio and well-established sales channels has been an integral part of Monivent’s strategy for a successful global commercialization. The now signed LOI marks a clear commitment from a major, industry leading player within neonatal and intensive care to enter a global distribution agreement for the Neo100.
A vital part of the future partnership will also include a joint product development initiative,
including completion of the transition from MDD to MDR in Europe and finalization of the ongoing process for FDA clearance to enter the US - a key market for Monivent. Focus will also be spent on decreasing cost of goods sold, to further enable the reach of a broader market with this essential product.
Positive discussions are held with Monivent’s major owners and the LOI counterpart to find solutions to finance the continued product development as well as regulatory and commercialization efforts.
“We are very happy to have signed this LOI with a global industry player having the knowledge and necessary resources and to create the best conditions for the Neo100 to become available at delivery wards and neonatal intensive care units worldwide”, says Maria Lindqvist, CEO of Monivent.
“We will now enter a phase of intensified negotiations to enter a complete distribution and joint product development agreement as soon as possible. In parallel there will be a joint effort between all stakeholders to resolve the short-term capital need to deliver on our operative goals and commitments”, says Fredrik Sjövall, Monivent’s Chairman of the Board.
This disclosure contains information that Monivent is obliged to make public pursuant to the EU Market Abuse Regulation (EU nr 596/2014). The information was submitted for publication, through the agency of the contact person, on 23-08-2024 09:45 CET.
For more information, please contact:
Maria Lindqvist, CEO
Phone: +46 70 748 01 30
E-mail: maria@monivent.se
Web: www.monivent.se
Monivent AB (”Monivent”) develops, manufactures and sells medical devices in order to improve the emergency care provided to newborns in need of respiratory support at birth. About three to six percent of all newborns end up in this critical situation and healthcare professionals today lack good tools to determine how effective this manual ventilation is. Monivent has developed equipment that measure the airflow to the child directly in the face mask via a sensor module that sends data wirelessly to an external monitor. The caregiver thereby receives immediate feedback, which enables necessary adjustments to support an effective but at the same time gentle treatment. The company is also marketing a product for simulation-based training on manikins, building on the same technology as the clinical product. The clinical product, Monivent Neo100, is not available for sale in the United States.