100 TetraGraph systems to Japan after regulatory approval
Press release: Uppsala, August 30, 2019. In December 2016, Senzime AB (publ) signed a ten-year licensing agreement with Japanese Fukuda Denshi on the exclusive right to license and commercialize Senzime's TetraGraph system in the Japanese market. Fukuda are now about to initiate market launch as TetraGraph has obtained regulatory approval from the Japanese authorities. At the same time, Senzime receives a milestone payment of approximately SEK 1.8 million and 100 TetraGraph systems are shipped to Japan.
Fukuda Denshi Co. Ltd (Fukuda) is a world leader in the patient monitoring market. The company licenses Senzime's TetraGraph technology to exclusively commercialize it in the Japanese market.
The license agreement covers variable remuneration to Senzime based on actual sales, and the now-initiated market launch also involves payment of the final milestone of approximately SEK 1.8 million. In connection with the launch, Fukuda has ordered 100 TetraGraph systems which will be delivered directly from Senzime's production partner in the UK.
In Japan, approximately 2.7 million major surgeries are performed annually, divided into approximately 13,500 operating rooms1. It is to this market TetraGraph is targeted.
"Japan is an important part of our investment in the large Asian medical technology market. The region is characterized by strong growth and a focus on new technology, and it feels very good that our close cooperation with Fukuda is moving into a commercial phase, "says Pia Renaudin, CEO of Senzime AB.
Senzime develops and markets systems, driven by unique algorithms and sensors, to follow patients ' nervous systems and electrical impulses – before, during and after surgery. The company's solution is called TetraGraph, a medical technology system that digitally and continuously measures the degree of neuromuscular blockade in the patient. The goal is improved clinical precision and simplified management in healthcare. By preventing complications and enabling healthcare professionals to follow health care guidelines and drug recommendations, TetraGraph contributes to shorter hospitalizations and lower health care costs – in a world where everyone wakes up safely after surgery. The vision is a world without narcotics-related complications. Senzime operates in growing markets that in Europe and the United States are valued in excess of SEK 10 billion. The company's shares are listed on Nasdaq First North (ticker SEZI). FNCA Sweden AB, +46 (0)8-528 00 399, firstname.lastname@example.org, is Certified Adviser for Senzime. www.senzime.com
This information is insider information that Senzime AB 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 above, on August 30, 2019, 08.45.
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