More from the Company Monthly Newsletter February 2020
During the month of February, we have continued our development and documentation work. We CE-marked our positioning strap, continued the preparations for two patent applications, expanded our organization with Sara Nehlstedt, and continued the negotiations regarding the long-term financing.
QuickCool’s Positioning Strap, intended to keep catheters in place during treatment, has been CE-marked. It has been registered at Läkemedelsverket i.e. the Swedish Medical Products Agency’s register for medical devices Class I products. The Positioning strap is part of the Nasal Cooling Kit, i.e. disposable kit, which will be used during mild hypothermia treatments of cardiac arrest patients together with the QuickCool® SYSTEM. The Positioning Strap enables health care professionals to fixate the catheters, without using tape on the patient's face or head. We have applied for additional IPR protection for the Positioning Strap in several countries.
During the year, the technical files for the remaining parts of the solution will be submitted to the notified body, TÜV Süd, for review, as part of the CE marking process for QuickCool® SYSTEM.
During February, we have continued the preparations for two more patent applications. We intend to submit one patent application within the next few weeks.
The new Director Quality Assurance and Regulatory Affairs is Sara Nehlstedt. Sara has a Master of Medical Science from Lund University and has worked in the MedTech industry and with QA issues for more than 15 years. Sara was one of the founders of SensoDetect AB where, in addition to developing a Quality Management System (QMS), she was responsible for all regulatory aspects during product development, market launch and post market surveillance. The past year Sara prepared ProstaLund and Bildteknik International in Lund for the new Medical Directive Regulation (MDR). Sara has already joined us and will continue the ongoing work to adapt our QMS according to MDR.
On February 12, 2020, we signed a letter of intent with the Canadian Esport company GameCubed Inc. and its shareholders, according to which the shareholders of GameCubed will transfer a 100% stake in GameCubed to QuickCool in exchange for newly issued QuickCool shares.
The completion of the transaction is subject to a number of conditions, including the implementation of binding agreements and approval by both shareholders and the market trading venue.
At the same time as the completion of the reverse acquisition, all assets/operations/employees in QuickCool's existing operations will be spun off into a newly formed 100% subsidiary of QuickCool ("New QuickCool") and restructured. The Board evaluates the possibility of distributing the shares in New QuickCool to the shareholders of QuickCool, through a dividend or similar structure. The Board of Directors will revert in March with more information and proposals for a decision on the future structure.
Follow us on LinkedIn. Additional information about QuickCool and our solution may be found on our homepage: http://www.quickcool.se/en/home.html
Kind regards,
Fredrik
Fredrik Radencrantz
CEO
QuickCool AB
Ideon Science Park
Beta 6, Scheelevägen 17 - SE-223 70 Lund - Sweden
E-mail: fredrik.radencrantz@quickcool.se Web: www.quickcool.se
Mobile +46 (0)73 834 1188
QuickCool is a Swedish medical technology company, whose business concept is to save lives and prevent brain damage in acute ischemia (Inadequate blood supply to the brain) by developing and providing a unique and globally patented cooling system, the QuickCool® SYSTEM. QuickCool is active in the fast-growing market, Targeted Temperature Management (TTM), for brain-protective cooling treatment of patients with e.g. acute cardiac arrest and stroke. QuickCool’s solution protects the brain by cooling in the nasal cavity and thus takes advantage of the innate heat exchanger in the nose. QuickCool’s Intranasal method offers gentle and uninterrupted cooling treatment for sedated patients. QuickCool is listed on Spotlight Stock Market and conducts its business at Ideon Science Park in Lund. For more Information, please refer to www.quickcool.se