Hemcheck has today submitted the formal application to Nasdaq to obtain a conditional approval for continued listing in connection with the implementation of the BioVitos agreement. The company hope to receive a decision from Nasdaq within about a month.
More about the possible Transaction
If the deal is completed, it will, as previously communicated, mean that Hemcheck will acquire capital and IP rights relating to the use of iron succinate for the treatment of patients diagnosed with heart failure with reduced ejection fraction (HFrEF) in the US,
Heart failure is a common disease globally. In
In 2018, a 3-month study evaluated oral iron succinate in patients with heart failure and iron deficiency without anemia. The study showed marked and significantly improved iron saturation and iron stores in the included patients. The supplement was well tolerated, the patient group experienced some well-known and mild side effects of oral iron therapy. This is a significant advantage for patients and for healthcare, as the treatment can be carried out at home and without the discomfort of intravenous injection.
It is this treatment method for which a patent has been applied for, with positive outlook, and which Hemcheck will own if the Transaction is completed. The substance is supposed to be registered as a drug under the name Succifer, starting in
The market for intravenous iron therapy, which is the market in which Succifer will primarily compete, is large and has a global turnover of over
Other types of iron tablets are another alternative treatment of which there are a variety of manufacturers and brands, but which for heart failure patients are not recommended due to a lack of evidence. This is therefore probably not a direct competitor to Succifer in terms of treating patients diagnosed with heart failure with reduced ejection fraction (HFrEF).
Since many people also suffer from iron deficiency and today's iron supplements are relatively ineffective and can cause side effects, the company also intends, if possible, to apply for drug approval for Succifer for improved iron absorption, iron saturation and iron stores in people with iron deficiency. This would then mean that Succifer competes more directly with other types of iron tablet treatments.
For further information contact:
Joen Averstad, acting CEO
Tel: +46 76 108 8191
Email: joen.averstad@hemcheck.com
About Hemcheck
https://news.cision.com/hemcheck/r/hemcheck-submits-a-formal-application-to-nasdaq-for-a-decision-on-continued-listing-before-the-imple,c3764032
https://mb.cision.com/Main/16884/3764032/2033889.pdf
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