Paxman AB (publ) confirms its first installations in the US

Paxman can today confirm the first installations in the US of its advanced scalp cooling technology to prevent alopecia in breast cancer patients. Following FDA clearance in April, five medical centers in Denver, Colorado, will give women the choice to retain a degree of control during their chemotherapy treatment to keep their hair. Two further sites across the state will install Paxman Scalp Cooling Systems next month.

Rocky Mountain Cancer Centers (RMCC) is Colorado’s largest and most comprehensive provider of cancer care and the first to provide Paxman scalp cooling since its launch in the USA.  Part of the US Oncology Network, RMCC deliver high-quality, evidence-based care to patients close to home.  The Paxman Scalp Cooling System is currently available at the following Rocky Mountain Cancer Centers:

RMCC Aurora
RMCC Boulder
RMCC Lakewood
RMCC Colorado Springs
RMCC Swedish Medical Center
RMCC Skyridge (July 2017)
RMCC Rose (July 2017)  

Paxman aims to revolutionize the current landscape of scalp cooling by ensuring that affordability is at the center of the treatment, giving more patient choice.  Each patient is supplied with their own single-use personal cap model, which will be loaded with scalp cooling credits depending on the number of chemotherapy infusions they are having.  Patients using scalp-cooling treatment will only pay for their own personal cap and the treatment they use.  The compact refrigerated system is easily operated, requiring little nursing time. In the US market Paxman uses a pay-per-use business model, which means that revenues will be generated over time based on patient usage.

 “We are overjoyed to be working with RMCC, enabling women going through breast cancer treatment in Colorado the opportunity to use scalp cooling.  Knowing first-hand the effects that both cancer and its treatment can have on the patient, friends and family, makes our business more than just a job.  We are passionate to make a difference in people’s lives, giving them the choice to retain their hair at this incredibly difficult time.” says Richard Paxman, CEO at Paxman. 

For further information, please contact:

Richard Paxman, CEO
Tel: +44 7968 020641
E-mail: richard.paxman@paxmanscalpcooling.com
www.paxmanscalpcooling.com

This information is information that Paxman AB (publ) 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 8 June 2017.

About Paxman
The Paxman Scalp Cooling System has been developed by the Paxman family to reduce hair loss in breast cancer patients undergoing chemotherapy. The concept behind the pioneering system came when the mother of four, Sue Paxman, experienced first-hand the trauma of chemotherapy-induced hair loss. The company has since been on a personal journey to ensure Sue’s legacy lives on by helping women around the globe minimize chemotherapy-induced hair loss and contribute to their quality of life.  With over 2,500 systems delivered in to hospitals, clinics and treatment centres around the world, Paxman is the leading supplier of Scalp Cooling technology. The scalp-cooling cap is made from lightweight, biocompatible silicone which is soft and flexible, providing a snug yet comfortable fit during treatment.

Paxman AB (publ) has its headquarters in Karlshamn (Sweden), with subsidiaries in Huddersfield (UK) and Dallas, Texas (US).

The Paxman share will be listed on Nasdaq First North on 12 June 2017. Erik Penser Bank has been appointed Paxman's Certified Adviser.