PolarCool AB (publ) has decided to initiate development of a mobile application (APP)
At the latest board meeting, held on September 26, 2019, PolarCool AB (publ) decided to begin the development of mobile application (APP) to be used primarily as support for the athlete during the rehabilitation amidst a mild traumatic brain injury (mTBI) and concussion-related diseases. The APP development is intended to be conducted in collaboration with an IT partner.
PolarCool AB (publ) currently estimates that the APP development will not affect the company's revenues for 2019 and 2020. The cost of developing the APP cannot be assessed today and is entirely dependent on the contract format with a potential IT partner. PolarCool AB (publ) has initiated preliminary investigations with a potential supplier. Furthermore, PolarCool believes that the APP development may have to be interrupted if the company cannot sign an agreement with an IT partner.
PolarCool AB (publ) has applied for a trademark for potential future solutions. The application for trademark registration was filed on September 22, 2019. The goods and services listed for the trademark applied for - PolarConcussion - are not something the company promises to develop.
In the next quarterly report, PolarCool AB (publ) will provide further information on the development of a mobile application (APP).
This information is information that PolarCool (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 herein, on September 30, 2019.
For more information
Matz Johansson – CEO PolarCool AB (publ)
+46 - 731 45 14 93
About PolarCool AB (publ)
PolarCool AB (publ) is a medical device company that develops, markets, and sells products for sports medicine. The company focuses on treatment of concussive and sub-concussive brain injury with the portable cooling device PolarCap® System. PolarCool AB (publ) is based in Lund, Sweden, and its shares are listed on Spotlight Stock Market.