Chordate’s CEO Anders Weilandt will present Ozilia at Biostock’s Global Forum on May 29, 2024. This event is one of several this spring where Chordate is participating to increase awareness of Ozilia among various investor segments within the Life Science sector.

“This particular event focuses largely on companies that are preparing to enter markets outside the Nordic region, and this aligns well with Chordate. We have already achieved success in several of our key markets and are now ready for the next step”, says Anders Weilandt, CEO of Chordate.

Biostock’s Global Forum is designed to connect Nordic growth companies with a global network of potential investors and partners, from USA, Europe, and Asia.

“Over the past few months, we have worked hard to introduce Ozilia to as many potential investors in Life Science as possible, and this is yet another opportunity for us.”

Read more about The Global Forum

Today, May 24, Chordate’s CEO Anders Weilandt presented the company’s Q1 report for 2024 on Finwire TV. He also answered questions from viewers and talked, among other things, about the reception of Ozilia in industrial and investor circles.

“Based on the results delivered by PM007, they can see, sometimes with quite a bit of surprise, how effective this is. We can show that we are as good as or better in terms of medical efficacy, we have as good or better response than all other alternatives, and we have no side effect profile to speak of. Then you can see that this must be taken seriously, especially since many people know that many patients prefer to avoid their heavy medications.”

“Industry evaluators see that this is extremely exciting, that’s the impression we have. This also applies to the clinical side, where many doctors and clinics want to have other options in their toolbox to offer patients when they run out of alternatives. So, the reception is very positive, I would say.”

Watch the full interview below:

Summary of the period January–March 2024

• Net turnover was SEK 257,677 (120,421)
• Cash flow from operating activities was SEK -5,908,058 (-8,479,928)
• Profit/loss after financial items was SEK -6,019,201 (-7,113,134)
• Profit/loss after tax was SEK -6,019,201 (-7,113,134)
• Earnings per share were SEK -0.02 (-0.03)

Breakthrough in several markets and strengthened cash flow via an issue

During the first quarter of the year, much of our focus has been on introducing Ozilia Migraine in the industry and investor circles surrounding Life Science. During several investor congresses, we have connected with interesting contacts who see the potential in Ozilia.

We find another highlight during the first months of the year in Germany, where the first migraine patients started treatment with Ozilia. It is very satisfying that the first clinic with private paying patients has started on a central focus market.

• First migraine patients treated in Germany
• Strong interest at several investing congresses
• New case report on Ozilia published: “Effective for both pain relief and reduced frequency of migraine attacks”
• Patents approved in Europe and USA
• Cash strengthened by approximately SEK 23 million before costs after the rights issue. Additional proceeds may come from warrant series T08

First migraine patients treated in Germany

At the beginning of January, Chordate trained clinic staff and assisted in the initiation of treatment for the first three patients in Germany. Chordate and the clinic signed an agreement in November 2023 for the installation of Chordate’s drug-free alternative for preventive migraine treatment.

At the end of January, we also signed an agreement with a second clinic in Germany. The Company’s ambition for the German market is to eventually also establish individual insurance compensation for the treatment. This is a key first step for being able to further scale up sales.

Strong interest at several investing congresses

We participated during the first quarter and thereafter in several international investing congresses that target Life Science, including in Switzerland, London and Oslo. As Ozilia reaches higher levels of acceptance and success on our focus markets, we are working to increase knowledge about the Company and Ozilia among potential investors and buyers of the Company. This is part of the Company’s overarching strategy and thus something we will continue to work with even during the rest of the year.

New case report on Ozilia published: “Effective for both pain relief and reduced frequency of migraine attacks”

In March, an Italian case report on Ozilia by a team at Campus BioBedico in Rome was published in the prestigious scientific journal Cephalalgia Reports. The case report describes a 60-year-old male patient whose days with migraines decreased significantly, from 18 to 7 days per month, with a simultaneous significant reduction in pain level.

The article also indicates that pain relief and reduction of migraine days from the initial treatment period had a sustained effect. After about three months, the patient underwent another treatment period with Ozilia, resulting in a quicker and more significant response.

Patents approved in Europe and the USA

In February, the European Patent Office granted Chordate’s patent application EP 20163024.1 from 2020. The patent application pertains to the Company’s treatment technique Ozilia, especially targeting chronic migraine. After the end of the period, at the beginning of May, the United States Patent and Trademark Office announced its intention to grant Chordate’s patent application US 17/942,912 from 2022.

The Company thus currently has 79 patents distributed between 32 countries and 9 patent families related to different aspects of the Company’s treatment techniques. Each newly granted patent is positive since the Company’s intellectual property rights enable exclusivity on the market, which is a pillar of the ownership value the Company is building.

Strengthened cash after rights issue

The rights issue conducted in January 2024 was subscribed to approximately 55 percent and raised approximately SEK 23 million for the Company before issue costs, and in the event of full exercise of all warrants series TO 8 that are issued, Chordate Medical may receive additional proceeds in November 2024.

Focus in 2024

• Proof-of-Concept in the focus markets
• Generate attention in the industry and investor circles
• Product registration in China, Saudi Arabia, UAE and USA
• The studies PM009 and PM010

Kista, May 2024
Anders Weilandt, CEO

For more information, please contact:
Anders Weilandt, CEO
anders.weilandt@chordate.com
Cell: +46 733-874277

About Chordate
Chordate Medical Holding AB (publ) is a medical technology company that has developed, patented and CE-marked Ozilia® Migraine (formerly K.O.S), a neuromodulation and drug-free treatment technology for chronic migraine and chronic rhinitis. The treatment has clinically proven efficacy according to a recent study, and is marketed in selected markets in the EU and the Middle East. Chordate Medical is listed on Nasdaq First North Growth Market Stockholm (ticker: CMH). Read more at www.chordate.com

The company’s Certified Adviser on Nasdaq First North Growth Market Stockholm is Vator Securities AB.
N.B. The English text is an in-house translation of the original Swedish text. Should there be any disparities between the Swedish and the English text, the Swedish text shall prevail.

This information is information that Chordate Medical Holding is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 2024-05-24 08:30 CEST.

Attachments
Chordate Medical Holding AB (publ) Interim Report January March 2024

Chordate Medical Holding (publ) is releasing its interim report for Q1 2024 on Friday, May 24, 2024, at 08:30. On the same day, at 11:00, the company invites you to a webcast presentation of the report with CEO Anders Weilandt on Finwire TV.

The presentation can be viewed through the following link: https://www.finwire.tv/webcast/chordate-medical/q1-2024/

Following the presentation, there will be a Q&A session where viewers can submit questions.

A recording of the presentation will be made available afterwards on the company’s website www.chordate.com and on Finwire TV’s YouTube channel.

For more information, please contact:
Anders Weilandt, CEO
anders.weilandt@chordate.com
Cell: +46 733-874277

About Chordate
Chordate Medical Holding AB (publ) is a medical technology company that has developed, patented and CE-marked Ozilia® Migraine (formerly K.O.S), a neuromodulation and drug-free treatment technology for chronic migraine and chronic rhinitis. The treatment has clinically proven efficacy according to a recent study, and is marketed in selected markets in the EU and the Middle East. Chordate Medical is listed on Nasdaq First North Growth Market Stockholm (ticker: CMH). Read more at www.chordate.com

The company’s Certified Adviser on Nasdaq First North Growth Market Stockholm is Vator Securities AB.
N.B. The English text is an in-house translation of the original Swedish text. Should there be any disparities between the Swedish and the English text, the Swedish text shall prevail.

Chordate Medical’s CEO, Anders Weilandt, will present the company and the migraine treatment Ozilia at Pharma Partnering EU Summit in Basel, Switzerland, on May 22–23. The congress gathers leading figures from around the world, primarily within the pharmaceutical industry, focusing on licensing, commercialization, investment, and other partnership opportunities.

“Unlike other investment conferences we participate in, this one is focused on the pharmaceutical industry, where we know there is substantial interest in innovations like Ozilia. The goal is to come away with a number of promising leads to follow up on,” says Anders Weilandt.

Chordate’s participation in the Pharma Partnering EU Summit is part of the company’s efforts to increase awareness about the company and Ozilia in various industry and investor segments.

“The company’s exit strategy is based on how the entire medtech industry has evolved in recent years – large players increasingly acquire smaller development companies that have demonstrated proof of concept and market potential, rather than developing innovative treatments themselves. This is especially true for the pharmaceutical industry.”

Read more about the Pharma Partnering EU Summit 2024

Biostock interviews Chordate Medical’s CEO Anders Weilandt about the upcoming patent approval by the US Patent Office, how the American migraine market differs from the European one, and the company’s next step in obtaining FDA approval for Ozilia in the US.

“The project is currently awaiting the publication of the article from the migraine study PM007. We need to have it in place to take the next step in the FDA project.”

Read the full interview

Chordate Medical Holding AB (Publ.) announces that the United States Patent and Trademark Office has issued a decision to grant Chordate’s patent application US 17/942,912 from 2022

The patent application relates to the treatment of headaches, focusing on protecting the company’s product Ozilia Migraine. The granting of the application means that a fourth U.S. patent is added to a growing patent family focused on headache treatment, which the company has been building since 2011.

“One of the three cornerstones of our strategic efforts to build shareholder value is to fulfill our patent strategy. The intellectual property defense of our technology to support our ongoing business development is an essential part of what we consider core values in the company,” says Anders Weilandt, CEO of Chordate Medical.

Chordate Medical today holds 79 patents across 32 countries and 9 patent families, covering various aspects of the company’s treatment technologies. The patent families deal with various aspects of Chordate’s technology and are designed to provide the best possible protection for the inventions that underpin the company’s products.

Biostock interviews Chordate board member Caroline Brandberg, who last week participated at Feminvest’s investor congress in Oslo. During the event, she presented Chordate’s migraine treatment, Ozilia.

“Migraine is one of the leading conditions among women. To address this, more treatment options are needed, which must be made available and affordable in order for all women to have access to adequate care.”

Read the full interview

Chordate Medical is participating in this year’s LSX World Congress in London on April 29-30. LSX World Congress is a leading event in the global life science sector, connecting innovative new solutions and start-up companies with major corporations and investors.

“LSX brings together potential investors in biotech, medtech, and healthtech from around the world in one place. It’s a very fitting forum for us to present Ozilia as the latest development in migraine treatment,” says Anders Weilandt, CEO of Chordate.

This year’s edition of LSX World Congress is the tenth in its series. The purpose of the event is to connect capital with innovative developments to help create tomorrow’s health solutions that can benefit more people.

“We already have the scientific evidence in place and are beginning to show proof of concept in several of our focus markets. The next step in the company’s strategy is to find a buyer for the company. At LSX World Congress and other similar events we participate in during the spring, we find precisely the right target audience for us.”Read more about LSX World Congress

Chordate Medical will exhibit at the Dreiländertagung Kopfschmerz congress in Switzerland from April 25th to 27th. The congress is jointly organized by specialist associations from Germany, Switzerland, and Austria.

“It’s an excellent opportunity for us to introduce Ozilia and inform a large number of migraine and headache specialists from three significant European markets all at once,” says Anders Weilant, CEO of Chordate.

The congress will bring together headache specialists and neurologists to discuss and present the latest developments in migraine treatment, with neuromodulation being one of the topics on the agenda.

“In addition to raising awareness of Ozilia among potential investors and buyers of the company, it’s important that we continue to engage with the profession in various markets. Interest in neuromodulation as a treatment technique for migraine among specialists and neurologists is growing, and Ozilia is a unique and new treatment option that an increasing number is evaluating.”

Learn more about the congress