Senzime out-licenses OnZurf Probe on the European market
Press release: Uppsala, November 2, 2020. Senzime AB (publ) today announces the signing of an out-licensing agreement with the Italian company Moss S.p.A. As a result of the agreement, Moss will assume 10-year manufacturing and sales rights for the OnZurf Probe on the European market. The license agreement is estimated to generate more than SEK 100 million in license royalties over the term.
Moss S.p.A (“Moss”) is a medical device company headquartered outside Milan, Italy. As a result of the out-licensing agreement, Senzime will transfer the legal manufacturing rights and all related product liabilities related to the OnZurf Probe to Moss, including any future development costs. Senzime will keep rights to commercialization of OnZurf on all markets outside of Europe.
Moss will pay Senzime a fixed license royalty per unit sold on the European market over a period of 10 years. The fixed royalty level corresponds to a double-digit percentage of OnZurf Probe’s estimated sales value. Forecasted royalty income to Senzime during the agreement period amounts to more than SEK 100 million and the first royalty payments are expected to occur in 2022.
” It is with great pleasure that we announce this collaboration with Moss. OnZurf Probe is a unique product with a huge potential for early detection of serious conditions such as ischemia. Moss has prior experience in bringing innovative new technology to the market and is an ideal partner for us with the capacity and strength to successfully launch this product across Europe. The Senzime team has created great value in the finalization of the OnZurf Probe and the out-licensing is in-line with Senzime’s new strategy with focus on solutions for anesthesia monitoring”, says Pia Renaudin, CEO Senzime.
The OnZurf Probe was acquired by Senzime in 2016 and is based on an innovation by Dr. Pernilla Abrahamsson and clinical research at Umeå University. The development, including CE approval of OnZurf, was completed by Senzime in 2017. The probe is designed to enable continuous sampling from gastro-intestinal organs such as esophagus, stomach, and liver. By monitoring the organ surface, it is possible to detect elevations in lactate and other metabolic markers as early indicators of ischemia and post-operative complications.
TO THE EDITORS
About Senzime 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 Growth Market (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 November 2, 2020, 11:45 CET.
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