News

Italian distributor expresses confidence in Chordate Medical’s migraine treatment

7 June, 2021

Italy is Chordate Medical’s most active market to date, in large part due to the distributor Vedise Hospital that has performed solid work regarding sales of K.O.S for the treatment of rhinitis. Now that Chordate has received CE marking in chronic migraine, K.O.S. will be launched as a migraine treatment in Italy. In an interview with BioStock, Vedise Hospital expresses high hopes for this launch and talks about its plans in connection with the launch.

Chordate Medical’s treatment method K.O.S has had a CE marking for the treatment of rhinitis (chronic nasal congestion) for a long time, but now the product is also CE marked for the treatment of chronic migraine in adults over 18 years of age. The approval, which came a year earlier than the company had anticipated, makes it possible to sell and market K.O.S as migraine treatment in the EU.

The company’s treatment method is the same for both rhinitis and migraines, but the market for the migraine treatment is significantly larger. The global migraine drug market is estimated to amount to approximately 83.7 billion SEK in 2026, according to the Global Data Healthcare report (2017).

Italy – Chordates Medical’s most important market

Since 2019, Chordate Medical’s distributor Vedise Hospital has sold K.O.S. for the treatment of rhinitis to eight clinics in Italy. The distributor’s marketing and sales work has generated good sales results, especially before the pandemic, and thus the Italian market has become Chordate Medical’s most important and active market.

Thanks to the CE marking that Chordate Medical received in May, the Italian distributor will now be able to introduce K.O.S as a migraine treatment. The already established network of clinics for the treatment of rhinitis will be an important key to quickly reach the Italian market with the migraine treatment. The plan is to activate already existing clinics as well as new clinics in northern and central Italy.

Vedise Hospital comments on the CE marking and potential

Vedise Hospital is a well-established player on the Italian market that has supplied medical devices to public hospitals and private clinics for over 30 years. The distributor works closely with the medical profession, especially in neurology, which will be beneficial to the launch of Chordate Medical’s migraine treatment.

 BioStock contacted Vedise Hospital’s CEO Valter Varano to hear his view of the potential in Italy for K.O.S as a migraine treatment.

First of all, can you tell us a bit about Vedise Hospital and your modus operandi when you are introducing a new product, or engaging in a new medical discipline – what makes you successful compared to your competitors?

 – Vedise Hospital has operated in the medical device distribution sector for over 30 years. In recent years, we have gained experience, skills and important knowledge. Human resources is one of our most valuable assets, as many of our employees have worked in our company for over twenty years and have increased their competence and professionalism. The constant contact with medical professionals has created the right synergy of cultural exchange between pathology and available treatments. We are, therefore, the perfect link between doctor and patient.

– All this has forged our DNA and allowed us to have a natural flow in the methodical and professional approach to the healthcare market. Before commercialisation, all the products in our portfolio undergo a market testing process conducted by the best medical specialists in the sector who verify the products’ performance and safety.

What was your reaction when Chordate Medical received CE marking for the chronic migraine treatment K.O.S. (one year earlier than expected)?

– We have a lot of confidence in this company. Over the years, Chordate Medical has shown a high level of professionalism, so we were confident that they would achieve this milestone. Our experience in K.O.S. technology for the treatment of non-allergic rhinitis has given us great motivation to move forward and find the right indication and therapeutic method. The satisfaction of the treated patients, as well as their enthusiasm towards receiving the treatment, have been a significant source of pride for us. We have received the news of the CE marking of K.O.S in chronic migraine with great enthusiasm. It will give many patients the opportunity to find the right therapeutic option for such a debilitating disease.

What is your plan to be able to start selling K.O.S as a treatment for chronic migraine as soon as possible?

 – We know many neurologists because Vedise Hospital has for many years dealt with the sale of products and services dedicated to the diagnosis and treatment of sleep apnea, called OSAS (Obstructive Sleep Apnea Syndrome). Neurologists are diagnostic sentinels within this indication. We are therefore thinking of combining a Neurologist for diagnostics and an Otolaryngologist for treatment in a single K.O.S. centre. The Otolaryngologist is already familiar with the K.O.S. system and knows how to best use the device as s/he is an expert in nasal anatomy. After all, the therapeutic approach involves the insertion of a catheter in the nose for a few minutes.

What has the market demand been like for the K.O.S treatment of rhinitis?

– We started in 2019 with a great interest shown in K.O.S. for the treatment of chronic rhinitis. There was also a lot of interest in K.O.S in the sports world due to the approaching Tokyo Olympics. K.O.S. can be used by all athletes because, since it is not a drug treatment, it does not interfere with the strict anti-doping rules for professional sporting events. Unfortunately, the Covid-19 pandemic has slowed down diagnosis and treatment over the past 12 months. But these days, with the slowdown in new Covid cases, great attention is again being paid to the product.

– Two medical scientific experiments were presented at the National Congress of the Italian Society of Italian Otolaryngology, which was held in Milan last week, with renowned doctors in attendance.

Finally, how do you view the potential in Italy for Chordate Medical’s treatment method in chronic migraine?

– The potential in Italy is great. There is a lot of attention being paid to this pathology, so much so that the Italian government has classified migraine as a chronic disease and thus has invited the scientific world to evaluate alternatives to today’s treatments.

– K.O.S. will surely be a valid therapy. Our mission for the near future will be to make this technology known to the highest possible number of doctors and patients, especially through our training and information campaigns. We can count on a database of about 400,000 doctors to whom we will send the first sets of information on K.O.S for the treatment of chronic migraines.

Fler Nyheter

Press releases

If you want to read our press releases, there are available in the Investor Relations section or by clicking the link below.

Press releases

For questions about Chordate's share price or other investment-related topics, please see if the answer is here.

For questions about the medical effects of the K.O.S treatment, please see if the answer is here.

To get in touch with Chordate regarding other questions, use the adjecent form. We do our best to respond as quickly as possible.

Please note that the MAR rules (Market Abuse Regulation) prohibits us from providing information to individual inquirers regarding matters of the company's share, share price, economy and financials, commercial and scientific activities, and other information that potentially can alter the Market valuation of the traded share. We refer in general to the public information published by the company for such questions. Hence, emails with such questions will not be responded to individually.

 

Contact us

The information is handled according to our  privacy policy.