More from the Company Monthly Newsletter October 2018
The month of October was an active month. We signed a distribution agreement with ATN Medical in Portugal, TÜV Süd, QuickCool’s notified body, reviewed our Quality Management System, a notice for an extraordinary general meeting was issued, and we participated in the Outsourcing in Clinical Trials Nordic 2018 conference in Copenhagen.
TÜV Süd, our notified body, visited us to review our quality management system in accordance with ISO 13485:2016. The audit did not result in any major deviations. It confirms that we are developing our products in accordance with the stringent medical regulations and that we have a well-functioning Quality Management System.
All shareholders of QuickCool are invited to an Extraordinary General Meeting on Monday, 19 November 2018 at 17:00 in QuickCool’s premises, Ideon Science Park, Beta 6, Scheelevägen 17, 223 70 Lund.
Complementing the financing agreement that we have with the European High Growth opportunities Securitization Fund, the Board of Directors proposes a rights issue for shareholders totaling SEK 6.2 million. This will enable us to handle the peaks that arise when the costs for the third party testing and procurement of components for the 0-series occur. The rights issue is already guaranteed to SEK 3 million. More information about the extraordinary general meeting can be found on www.quickcool.se
We participated in the Outsourcing in Clinical Trials Nordic 2018 conference in Copenhagen to discuss our forthcoming clinical studies, that we will start as soon as we have a CE-marked cooling device, with possible partners. You may find more information about the conference here: http://www.arena-international.com/Uploads/2018/10/25/r/p/r/OCT-Nords-Agenda-2018-FINAL.pdf
Although the European Patent Office Published the news on its database some time ago, we were pleased when we received the news yesterday. QuickCool’s patent application via PCT (Patent Cooperation Treaty), concerning one of the significant components of QuickCool’s portable cooling device for Targeted Temperature Management (TTM) QuickCool® SYSTEM, is considered patentable. QuickCool has previously been granted the equivalent patent in Sweden. The positive opinion may contribute constructively in the patent process in several of the countries where QuickCool intends to apply for patents.
We signed a distribution agreement for Portugal with ATN Medical Lda. They have the distribution rights for other medical products that address needs within neurosurgery, spinal surgery and intensive care. Regional sales representatives cover the entire Portuguese market. We find many synergies as they already have a well-established network of Key Opinion leaders (KOLs) and customers. Dedicated service and training personnel ensure both clinical training and product and aftermarket support. We look forward to many successful years together.
Christopher W. Uhde, analyst at AGB Sundal Collier published his analytical report called QuickCool – To build a commercial organization, based on our quarterly report and independent research. Interestingly, the potential for the global Targeted Temperature Management (TTM) market was estimated at approximately USD 2.4 billion in 2017, but is expected to increase to USD 2.72 billion in 2022 and USD 4.6 billion in 2025. To access the full report, clink on the following link:
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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