Sedana Medical AB (publ) in final deal with Teleflex Medical Incorporation
Sedana Medical AB (publ) (Sedana Medical) has reached an agreement with the American medical device corporation Teleflex Medical Incorporation (Teleflex) to finally make a settlement of current royalty agreement for the AnaConDa products.
Since the acquisition of AnaConDa technology by Teleflex in 2005, Sedana Medical has paid royalty on the sale of AnaConDa products. In connection with this deal, Sedana Medical pays a one-off amount of $ 750,000 instead of the remaining $ 1,051,000 of royalties, which means a significant saving. This means that Sedana Medical's all royalties and any other commitments with Teleflex have been terminated. Sedana Medical has thereby no royalty commitments to any party.
“This agreement goes hand-in-hand with our strategy and ongoing efforts to independently develop the therapy inhalation sedation in intensive care, and the expand of our sales organisation. We have thanks to this agreement taken another step towards realising our vision of making inhalation sedation with IsoConDa and AnaConDa a global standard method for the sedation of mechanically ventilated patients in intensive care,” says Christer Ahlberg, CEO of Sedana Medical AB (publ).
The market in brief
Sedana Medical's market consists primarily of mechanically ventilated intensive care patients. The market for sedation of mechanically ventilated intensive care patients today consists of established drugs that are administered intravenously. The target group that the Company focuses on are those patients who are ventilated for more than 24 hours, a target group that globally amounts to between two and four million patients per year. In total, the Company consider this to be an addressable market of SEK 10-20 billion per year, of which Europe accounts for about SEK 6 billion.
For additional information, please contact:
Christer Ahlberg, CEO, Sedana Medical AB
Mobile: +46 70 675 33 30, E-mail: Christer.ahlberg@sedanamedical.com
Pareto Securities is certified advisor to Sedana Medical.
This information is such that Sedana Medical AB (publ) is obliged to disclose pursuant to the EU Market Abuse Regulation. The information was released for public disclosure, through the agency of the contact persons above, on 29 June 2017 at 09.00 a.m. (CET).
_________________________
Sedana Medical AB (publ) is a Swedish company that develops, manufactures and sells the medical device AnaConDa. AnaConDa is a medical device for inhalation sedation of mechanically ventilated patients in intensive care units. At the end of 2016, the company initiated a major clinical study to receive market approval in Europe for IsoConDa (isoflurane) for inhalation sedation in intensive care units. The study is expected to end in late 2018. Registration is expected at the end of 2019. Sedana Medical has sales offices in Germany, Spain and France, as well as external distributors in Europe, the Middle East, Canada, Australia and South Korea. The headquarters is based in Danderyd, Sweden and the company has R&D operations in Ireland.
Tags: