Sedana Medical’s CEO divests shares – remains committed and long-term shareholder
Christer Ahlberg, CEO of Sedana Medical AB, has informed the Company that he has sold 30 000 shares in Sedana Medical, representing approximately 0.1% of total outstanding shares and 13.0% of his total shareholding in the Company, and that he has entered a 12 month lock-up agreement for his remaining 200 000 shares. Following the transaction, Christer Ahlberg holds 200 000 shares and warrants entitling him to subscribe for another 184 200 shares.
Christer Ahlberg commented: “The divestment is made for personal financial reasons only and I do not intend to sell additional shares and have therefore agreed to enter a lock-up agreement of 12 months on my remaining 200 000 shares. The proceeds from the share sale will mainly be used for the repayment of loans. I have great faith in the prospects for Sedana Medical and I look forward to continuing to lead the company going forward.”
For additional information, please contact:
Christer Ahlberg, CEO, Sedana Medical AB
Mobile: +46 70 675 33 30
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.
The information was released for public disclosure, through the agency of the contact person above, on January 20, 2020 at 20.30 p.m. (CET).
About Sedana Medical
Sedana Medical AB (publ) has developed and sells the medical device AnaConDa, for the administration of volatile anaesthetics to mechanically ventilated patients. A major pivotal study is currently ongoing to obtain market approval in Europe for inhaled sedation in intensive care units with the pharmaceutical IsoConDa® (isoflurane). The company expects the registration of IsoConDa in Europe to take place during the second half of 2021. Three years thereafter Sedana Medical expects sales of SEK 500 million in Europe and an EBITDA margin of about 40 percent.
The market for Sedana Medical’s sedation therapy of AnaConDa and IsoConDa consists primarily of sedation of mechanically ventilated intensive care patients. Today, these 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. The company has initiated a process to obtain market approval in the US in 2024. Registration activities are also initiated in other markets outside the EU.
Sedana Medical has direct sales in the Nordic countries, Germany, France, Great Britain and Spain as well as external distributors in the rest of Europe, Australia, Canada, China, India, Japan and South Korea. The company was founded in 2005 and is headquartered in Stockholm, Sweden with R&D operations in Ireland.