BrainCool AB (publ) receives financing of EUR 3 million through a grant

BrainCool receives financing of EUR 3 million through a grant (non-dilutive funding) for the commercialization of the company's BrainCell-concept, ie the combination of RhinoChill™ and BrainCool™ System.

The funding is expected to be in place in May after the agreement has been finalized with the EU organization Horizon 2020, an innovation program within the EU.

More information about the project will be presented on Thursday, April 23.

CEO Martin Waleij comments:

The grant funding is a great success for the company, obviously. Braincool now receives financing at the start of the project and the money goes directly into the company's operational activities and secures financing in the company. Furthermore, the application is made in collaboration with a number of leading German intensive care university hospitals, which will further enable the establishment of our products as a standard of care.

This information is information that BrainCool (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 April 17, 2020.

For more information

Martin Waleij - CEO                                                               
+46 - 733 -93 70 76                                                                                          
E-mail: martin.waleij@braincool.se                       

About BrainCool AB (publ)

BrainCool AB (publ) is an innovative medical device company that develops, markets, and sells leading medical cooling systems for indications and areas with significant medical benefits within the healthcare sector. The company focuses on two business segments, Brain Cooling and Pain Management. BrainCool AB (publ) is based in Lund, Sweden, and its share is listed on Spotlight Stock Market.