Senzime receives milestone payment from Fukuda Denshi of approximately 2.4 million SEK
PRESS RELEASE: Uppsala, December 21, 2018. Senzime AB (publ) today announces the booking of a milestone payment of approximately 2.4 million SEK related to the license agreement and collaboration with Fukuda Denshi signed in 2016.
Fukuda Denshi is one of the global market leaders in the field of patient monitoring. The company was founded in 1939 and reported global revenues in excess of JPY 125 billion in 2017. Pursuant to the Agreement, Fukuda licenses the TetraGraph technology to exclusively commercialize a handheld monitoring system under its own brand on the Japanese market. Furthermore, Fukuda is granted rights to develop, at its own expense, an integrated modular system based on the TetraGraph technology.
"The milestone payment is a result of our close collaboration and the intent is that Fukuda Denshi will commence the commercialization later in 2019 after regulatory approval. The collaboration is in line with our vision to become a global leader in the field of peri- and post-operative patient monitoring", says Catrin Molund, Acting CEO of Senzime AB.
The TetraGraph is an innovative and user-friendly system for monitoring patients undergoing general anesthesia with muscle relaxant drugs. The system makes it possible to objectively determine the correct dose of muscle relaxants and helps the clinician determine when the patient is sufficiently recovered to sustain spontaneous breathing. The system consists of a portable, hand-held patient monitoring unit and non-invasive disposable sensors.
The license agreement is based on fixed and variable payments based on milestones and actual sales. The Terms are not disclosed. The Agreement is valid over a 10 year term.
Senzime develops unique patient-oriented monitoring systems that make it possible to assess patients' biochemical and physiological processes before, during and after surgery. The portfolio of technologies includes bedside systems that enable automated and continuous monitoring of life-critical substances such as glucose and lactate in both blood and tissues, as well as systems to monitor patients’ neuromuscular function perioperatively and in the intensive care medicine setting. The solutions are designed to ensure maximum patient benefit, reduce complications associated with surgery and anesthesia, and decrease health care costs. 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 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 December 21, 2018, 12:00 CET
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