Sedana Medical expands in Eastern Europe – signs distribution agreements
Sedana Medical AB (publ) (SEDANA: FN Stockholm) today announced that it has signed agreements with distributors in Bulgaria, Cyprus, Greece, Slovakia and the Czech Republic. The agreements are part of the preparations ahead of the registration of the drug candidate IsoConDa, which is expected next year.
“We highly appreciate the great interest there is in launching and selling AnaConDa in the markets we do not cover ourselves. Through this expansion of our distributor network, we are strengthening the position ahead of the upcoming market launch of our therapy,” said Christer Ahlberg, CEO of Sedana Medical.
Sedana Medical is working towards a market approval of IsoConDa during the second half of 2021. The plan is to be represented in several European markets with established networks and reference clinics when the approval comes to quickly penetrate the market. Sedana Medical currently has its own representation in about 10 European countries; the Nordics, Benelux, Germany, France, the UK and Spain, and external distributors in parts of the rest of Europe.
For additional information, please contact:
Christer Ahlberg, CEO, Sedana Medical AB
Mobile: +46 70 675 33 30
E-mail: christer.ahlberg@sedanamedical.com
Sedana Medical is listed on Nasdaq First North Growth Market in Stockholm.
The company's Certified Adviser is Erik Penser Bank, +46 8 463 83 00, certifiedadviser@penser.se.
The information was released for public disclosure, through the agency of the contact person above, on June 25, 2020 at 08:00 a.m. (CET).
About Sedana Medical
Sedana Medical AB (publ) has developed and sells the medical device AnaConDa, for the administration of volatile anaesthetics to mechanically ventilated patients. A major pivotal study is currently ongoing to obtain market approval in Europe for inhaled sedation in intensive care units with the pharmaceutical IsoConDa® (isoflurane). The company expects the registration of IsoConDa in Europe to take place during the second half of 2021. Three years thereafter Sedana Medical expects sales of SEK 500 million in Europe and an EBITDA margin of about 40 percent.
The market for Sedana Medical’s sedation therapy of AnaConDa and IsoConDa consists primarily of sedation of mechanically ventilated intensive care patients. Today, these patients are sedated intravenously which leads to several challenges for both patients and care givers. Challenges that are solved by inhaled sedation. Based on an estimate of seven to eight million patients being sedated in intensive care due to mechanical ventilation globally, on average three to four days, Sedana Medical estimates the total market potential to SEK 20-30 billion, evenly distributed between the US, Europe and Asia. The company has initiated a process to obtain market approval in the US in 2024. Registration activities are also initiated in other markets outside the EU.
Sedana Medical has direct sales in the Nordic countries, Germany, Benelux, France, Great Britain and Spain as well as external distributors in parts of the rest of Europe, Australia, Canada, China, India, Israel, Japan, Mexico and South Korea. The company was founded in 2005 and is headquartered in Stockholm, Sweden, with medical device development in Ireland.