Sedana Medical signs distribution agreement in Australia and New Zeeland

Sedana Medical AB (publ) (SEDANA: FN Stockholm) today announced that the company has signed a distribution agreement for sales in Australia and New Zeeland with the distributor Device Technologies. As the AnaConDa already has market approval in both markets, sales can start immediately. Sedana Medical estimates that the annual market potential in these two markets to around SEK 300 million.

Device Technologies has over 850 employees supplying Australia and New Zealand with leading edge globally trusted brands within both medical devices and pharmaceuticals.

“Device Technologies is a leading distributor in the region and AnaConDa makes a great fit to their existing product portfolio. We will benefit from their strong and very relevant customer network within the ICUs with both medical devices and pharmaceuticals and I am very glad that they have a dedicated sales and marketing team with a strong focus on inhaled sedation,” said Christer Ahlberg, CEO of Sedana Medical.

AnaConDa already has market approval in Australia and New Zeeland. Once IsoConDa receives market approval in the EU, Sedana Medical will explore the possibility to apply for market approval in Australia and New Zeeland based on the same dossier as in Europe.   

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 August 19, 2020 at 08:00 a.m. (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.