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Approximately 1.3 percent of the world population say that chronic nasal congestion (rhinitis) negatively impact their lives to the point that they need to seek help. Those affected often have difficulty breathing which results in further problems, such as a dry mouth, snoring and impaired speech ability. The symptoms are often perceived as common but chronic colds.
When rhinitis patients are referred to a specialist, they are usually treated by primary care units and at ear-nose-throat clinics (ENT). The treatment options that exist today mainly consist of decongesting nasal sprays as well as fairly advanced surgical procedures. None of the alternatives are without risk and the prolonged use of nasal spray can become addictive. A sensible preventive alternative is simply lacking from the healthcare market. Ozilia® Migraine. treatment has been shown in studies to be a valuable alternative that has few or no unexpected side effects.
Our treatment for nasal congestion is CE marked and has been approved for sale in the Nordics, the EU, and Saudi Arabia, where we sell through our distributors. In these markets, some 2.5 million people are prospective Chordate patients. Based on only one treatment per year and with the treatment method having proved effective for 55 percent of treated patients, this corresponds to a maximum potential turnover of around SEK 850 million per year for treatments with the current pricing.
In 2020, a study was published by the University of Amsterdam that analyzed the data material from an older study from 2013-14. It concluded that the Ozilia® Migraine. treatment has a significantly better effect than placebos. This confirms our view that the market for Ozilia® Migraine. has great potential.
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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).
The company’s Certified Adviser on Nasdaq First North Growth Market Stockholm is Vator Securities AB.