Sedana Medical appoints new CFO

Sedana Medical AB (publ) (SEDANA: FN Stockholm) today announced that Susanne Andersson has been appointed new CFO and will take office during the first quarter of 2021. Susanne Andersson succeeds Maria Engström, who on her own initiative has chosen to leave the CFO position. Maria Engström will transfer to an advisory role for Sedana Medical's management when Susanne Andersson has started.

Susanne Andersson most recently comes from the role as CFO at the technology company Pricer, listed on Nasdaq Stockholm. Susanne Andersson has solid experience from CFO roles in various listed companies and many years of experience from investor relations for companies such as Ericsson.

“Maria Engström has been incredibly important in Sedana Medical's development. With her hard work, competence and loyalty she has strongly contributed to leading the company to the position we are today, for which I am very grateful. Therefore, it feels extra good that Maria will assist the management also in the future and that she will remain as CFO until our new CFO is in place. Now that Maria on her own initiative has chosen to step down, I am happy to announce that we have succeeded in recruiting Susanne Andersson to our team. Susanne's broad experience comes in handy when we prepare the company for a move to Nasdaq Stockholm. I look forward to welcoming her to the team," said Christer Ahlberg, CEO of Sedana Medical.

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 October 5, 2020 at 15:00 pm. (CET).

About Sedana Medical

Sedana Medical AB (publ) has developed and sells the medical device AnaConDa for the administration of volatile anaesthetics. Through a combination of AnaConDa and the candidate drug IsoConDa (isoflurane), Sedana Medical provides inhaled sedation for mechanically ventilated intensive care patients. The company is working to obtain market approval in Europe for inhaled sedation in intensive care with the pharmaceutical IsoConDa® (isoflurane) during the second half of 2021.

Today, mechanically ventilated intensive care 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. Three years after market approval in Europe Sedana Medical expects sales of SEK 500 million in Europe and an EBITDA margin of about 40 percent. The company has initiated a process to obtain market approval in the US in 2024. Registration activities have also been 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.