Sedana Medical's CEO Christer Ahlberg is leaving the company
Sedana Medical AB (publ) (SEDANA: FN Stockholm) today announced that Christer Ahlberg has informed the board of directors of Sedana Medical that he is resigning as CEO to become CEO of Cinclus Pharma AB. Christer Ahlberg will remain as CEO until the summer of 2021 and the board is today starting a process to find a replacement.
“Sedana Medical is well on its way in establishing inhaled sedation as a standard treatment in intensive care. I strongly believe in that development and intend to remain a major shareholder. It has been fun and exciting years and it has been a privilege to build Sedana Medical together with all the incredible employees. My passion and strength lie in entrepreneurship, being involved from the beginning, in building from a small company, reaching the next level and making an organization ready for full commercialization. Given how well Sedana Medical has developed, the time feels right to hand over to a new CEO, now, when we are leaving the development phase and starting the European launch of our soon-to-be-approved drug Sedaconda together with the previously approved AnaConDa. We have also initiated the registration work to establish the treatment in the US in the coming years, which will be the biggest opportunity for the next CEO. The development has been fantastic during these years when our sales have multiplied, at the same time as we have a drug approval within reach later this year. Sedana Medical has a very solid base to build on,” said Christer Ahlberg, CEO of Sedana Medical.
“We would like to thank Christer for establishing and building Sedana Medical as CEO for just over four years, from being a small local med tech company to becoming a global med tech and pharmaceutical company with excellent conditions to develop inhaled sedation to a global standard therapy. At the same time, we have great respect for the fact that after everything he has achieved during these years, and with his competence to build companies in the early stages, he now feels that it is time to meet new challenges outside Sedana Medical,” said Thomas Eklund, Chairman of the Board of Sedana Medical.
For additional information, please contact:
Christer Ahlberg, CEO, Sedana Medical
Mobile: +46 70 675 33 30
Thomas Eklund, Chairman of the Board, Sedana Medical
Mobile: +46 70 824 20 25
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, firstname.lastname@example.org.
This information is such that Sedana Medical AB is obliged to publish in pursuant to the EU Market Abuse Regulation. The information was released for public disclosure, through the agency of the contact persons above, on February 24, 2021 at 21.00 (CET).
About Sedana Medical
Sedana Medical AB (publ) develops and sells the medical device AnaConDa for the administration of volatile anaesthetics. Through a combination of AnaConDa and the drug candidate Sedaconda (isoflurane), Sedana Medical provides inhaled sedation for mechanically ventilated intensive care patients. The company has applied for market approval in Europe for Sedaconda and expects an approval in 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. Globally, seven to eight million patients are estimated to be sedated in intensive care due to mechanical ventilation, evenly distributed between the US, Europe, and Asia. These patients are on average sedated three to four days. Sedana Medical estimates the total market potential to SEK 20-30 billion. Three years after marketing 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 processes to obtain market approval in the US in 2024 and in markets outside the EU.
Sedana Medical has direct sales in Benelux, France, Germany, Great Britain, the Nordics and Spain as well as external distributors in other parts 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.