The subscription price for the exercise of warrants of series TO 8 in Chordate Medical Holding AB (publ) has been set to SEK 23.99 per share and the exercise period begins on November 4, 2024

NOT FOR RELEASE, DISTRIBUTION OR PUBLICATION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA, BELARUS, HONG KONG, JAPAN, CANADA, NEW ZEALAND, RUSSIA, SWITZERLAND, SINGAPORE, SOUTH AFRICA, SOUTH KOREA OR ANY OTHER JURISDICTION IN WHICH THE RELEASE, DISTRIBUTION OR PUBLICATION OF THIS PRESS RELEASE WOULD BE UNLAWFUL OR WOULD REQUIRE ADDITIONAL REGISTRATION OR OTHER MEASURES.

The press release published on October 30, 2024, at 17:22 CET, incorrectly stated that the warrants after subscription and payment will be replaced with interim shares (IA) pending registration with the Swedish Companies Registration Office. The correct information is that no interim shares (IA) will be delivered, and that shares will be delivered as soon as the new issue is registered with the Swedish Companies Registration Office.

The full press release, updated with the correct information, follows below.

Chordate Medical Holding AB (publ) ("Chordate Medical" or the "Company") issued warrants of series TO 8 in connection with a rights issue of units that was completed in February 2024. Each warrant of series TO 8 gives, after recalculation carried out due to the reverse share split, the right to subscribe for 0.002 new share in the Company. Subscription cannot be made by part of a share, which means that 500 warrants of series TO 8 will be required for subscription of one (1) new share in the Company. The subscription price for the warrants of series TO 8 was set at 70 percent of the volume-weighted average price of the Company's share on Nasdaq First North Growth Market Stockholm during the period from October 16, 2024 up to and including October 29, 2024, however, not lower than the quota value of the Company's shares (SEK ten (10)) and not higher than SEK 75 per share. The volume-weighted average price of the Company's share during the period amounted to approximately SEK 34.27 and thus the subscription price is set at SEK 23.99. The exercise period for warrants of series TO 8 runs from November 4, 2024 up to and including November 18, 2024. The last day of trading in the warrants is November 14, 2024.

Complete terms and conditions for the warrants are available on the Company's website, www.chordate.com.

Terms summary for the warrants of series TO 8:

Exercise period: November 4, 2024 – November 18, 2024.

Subscription price: SEK 23.99 per share.

Issue volume: 127,835,679 warrants of series TO 8 entitle to subscription of a maximum of 255,671 shares. Upon exercise of all warrants of series TO 8, the Company may receive a maximum of approximately SEK 6.1 million before issue costs.

Last day of trading in warrants of series TO 8: November 14, 2024.

Dilution: Upon full exercise of all warrants of series TO 8, the number of shares in the Company will increase by a maximum of 255,671 shares, from 980,223 shares to a maximum of 1,235,894 shares and the share capital by a maximum of SEK 2,556,710 from SEK 9,802,230 to a maximum of SEK 12,358,940, corresponding to a maximum dilution effect of 20.7 percent of the number of shares. Note that warrants that are not exercised by November 18, 2024, or sold by November 14, 2024, will expire without value. In order for warrants of series TO 8 not to expire, warrant holders must actively subscribe for shares or sell the warrants. Please note that some nominees may close the application earlier than November 18, 2024.

How the warrants are exercised:

Nominee-registered warrants:
Subscription and payment, through exercise of warrants, shall be made in accordance with the instructions from each respective nominee. Please contact your nominee for further information.

Directly registered warrants:
No issue statement or payment instructions will be sent out. Subscription shall be made by simultaneous cash payment in accordance with the instructions on the application form. The warrants will be replaced by shares after the new issue has been registered with the Swedish Companies Registration Office.

The subscription form with instructions for payment will be available on the Company's website, www.chordate.com.

Advisors
Vator Securities AB act as financial advisor and CMS Wistrand Advokatbyrå act as legal advisor to Chordate Medical in connection with the exercise of the warrants of series TO 8. Vator Securities also act as issuer agent in connection with the exercise of the warrants of series TO 8.

The subscription price for the exercise of warrants of series TO 8 in Chordate Medical Holding AB (publ) has been set to SEK 23.99 per share and the exercise period begins on November 4, 2024

NOT FOR RELEASE, DISTRIBUTION OR PUBLICATION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA, BELARUS, HONG KONG, JAPAN, CANADA, NEW ZEALAND, RUSSIA, SWITZERLAND, SINGAPORE, SOUTH AFRICA, SOUTH KOREA OR ANY OTHER JURISDICTION IN WHICH THE RELEASE, DISTRIBUTION OR PUBLICATION OF THIS PRESS RELEASE WOULD BE UNLAWFUL OR WOULD REQUIRE ADDITIONAL REGISTRATION OR OTHER MEASURES.

Chordate Medical Holding AB (publ) ("Chordate Medical" or the "Company") issued warrants of series TO 8 in connection with a rights issue of units that was completed in February 2024. Each warrant of series TO 8 gives, after recalculation carried out due to the reverse share split, the right to subscribe for 0.002 new share in the Company. Subscription cannot be made by part of a share, which means that 500 warrants of series TO 8 will be required for subscription of one (1) new share in the Company. The subscription price for the warrants of series TO 8 was set at 70 percent of the volume-weighted average price of the Company's share on Nasdaq First North Growth Market Stockholm during the period from October 16, 2024 up to and including October 29, 2024, however, not lower than the quota value of the Company's shares (SEK ten (10)) and not higher than SEK 75 per share. The volume-weighted average price of the Company's share during the period amounted to approximately SEK 34.27 and thus the subscription price is set at SEK 23.99. The exercise period for warrants of series TO 8 runs from November 4, 2024 up to and including November 18, 2024. The last day of trading in the warrants is November 14, 2024.

Complete terms and conditions for the warrants are available on the Company's website, www.chordate.com.

Terms summary for the warrants of series TO 8

Exercise period: November 4, 2024 – November 18, 2024.

Subscription price: SEK 23.99 per share.

Issue volume: 127,835,679 warrants of series TO 8 entitle to subscription of a maximum of 255,671 shares. Upon exercise of all warrants of series TO 8, the Company may receive a maximum of approximately SEK 6.1 million before issue costs.

Last day of trading in warrants of series TO 8: November 14, 2024.

Dilution: Upon full exercise of all warrants of series TO 8, the number of shares in the Company will increase by a maximum of 255,671 shares, from 980,223 shares to a maximum of 1,235,894 shares and the share capital by a maximum of SEK 2,556,710 from SEK 9,802,230 to a maximum of SEK 12,358,940, corresponding to a maximum dilution effect of 20.7 percent of the number of shares. Note that warrants that are not exercised by November 18, 2024, or sold by November 14, 2024, will expire without value. In order for warrants of series TO 8 not to expire, warrant holders must actively subscribe for shares or sell the warrants. Please note that some nominees may close the application earlier than November 18, 2024.

How the warrants are exercised

Nominee-registered warrants:
Subscription and payment, through exercise of warrants, shall be made in accordance with the instructions from each respective nominee. Please contact your nominee for further information.

Directly registered warrants:
No issue statement or payment instructions will be sent out. Subscription shall be made by simultaneous cash payment in accordance with the instructions on the application form. The warrants will then be replaced by interim shares (IA) pending registration with the Swedish Companies Registration Office.

The subscription form with instructions for payment will be available on the Company's website, www.chordate.com.

Advisors
Vator Securities AB act as financial advisor and CMS Wistrand Advokatbyrå act as legal advisor to Chordate Medical in connection with the exercise of the warrants of series TO 8. Vator Securities also act as issuer agent in connection with the exercise of the warrants of series TO 8.

Chordate initiates market introduction of the migraine indication in Saudi Arabia

The first demonstration with Ozilia® Migraine was conducted yesterday at King Abdulaziz Medical City, a National Guard hospital in Jeddah. The company's distributor, Janin Medical, has been preparing for the launch since this spring – and this marks the first step after receiving market approval from the SFDA (Saudi Food and Drug Authority) a week ago.

King Abdulaziz Medical City, with 751 beds, is a significant part of the Ministry of National Guard Health Affairs' approximately 3,000+ beds across the kingdom, responsible for the healthcare of National Guard personnel and their families. Out of the country’s nearly 500 hospitals, about 335 are publicly owned or belong to various defense ministries, with the remainder being privately operated. The demonstration was carried out at the department of Dr. Abdullah Attar, head of neuroscience, by Janin’s sales manager Mohamad Ibrahim and Chordate’s General Manager Alain Durante, based in Jeddah.

"It’s a great feeling to finally get started after a period of preparation for the migraine introduction, and that we managed to secure product registration faster than expected," says Alain Durante, Chordate General Manager, MEA area.

Focus markets and exit strategy – Chordate CEO Anders Weilandt on Aktieportföljen live

At investor event Aktieportföljen Live, on October 15th, Chordate CEO Anders Weilandt talked about the appointment of Partner International Switzerland GmbH as an advisor to find a buyer for the business.

“If we focus on the exit, is it a partner (buyer) within the field of migraine or more of a medtech company or a distributor?”

“We are quite agnostic about who the best buyer could be. The easy answer is the one who pays the most, but it’s somewhere in the area you’re talking about. I would add besides the two obvious segments of the pharma industry and the medtech industry, a portfolio building structure that builds up product portfolio. It could very well be a company or outfit that we are unaware of. We do not really point our advisors in any specific direction. It’s their job, which they are good at, to comb the market for people with the strategic thinking that see a reason to invest in this kind of very clear cut, specific technology, to add to a probably already existing portfolio”, said Anders Weilandt till Aktieportföljen Live.

View the presentation and Q&A in full

Chordate Medical retains Swiss Advisor to initiate the exit process

Chordate Medical Holding AB (publ) (”Chordate” or ”The Company”) announces the board’s resolution to appoint Partner International Switzerland GmbH as an advisor to find an international buyer for the business. This marks the initiation of the final step in the company's strategy.

"As previously communicated, the final step in our strategy is to sell the business to a global player who sees value in acquiring our drug-free and patented method – Ozilia® for migraine and rhinitis treatment – as an addition to their presumably existing product portfolio," says Otto Skolling, Chairman of the Board at Chordate.

"We have made significant progress in establishing clear market validation in our focus markets, and we will of course continue with that task. However, the board's opinion is that completing a successful exit process will take a relatively long time, which is why we are starting the final part of our strategic plan at this point in time," concludes Otto Skolling.

Partner International group has over 24 years built its reputation as an advisor over numerous international deals in licensing, partnerships, and company sales, focusing on the life sciences sector. The group has offices in Boniswil, Switzerland; Dartmouth, Nova Scotia, Canada; East Brunswick, New Jersey, USA; and Hawthorn, East Victoria, Australia.

Chordate Medical receives market authorization for the migraine indication in Saudi Arabia

Chordate Medical announces that the Saudi Food and Drug Authority (SFDA) has approved the application for market authorization for the migraine indication of the Ozilia®Migraine product system. This means that Chordate and the distributor Janin Medical can initiate the introduction of Ozilia® in the migraine market in Saudi Arabia.

"Saudi Arabia's competent authority, SDFA, is undergoing rapid development, which for us means more bureaucracy, but also better predictability. It is therefore very gratifying that our application was approved earlier than expected. Janin, together with our General Manager in Jeddah, has been processing customer prospects for some time, and we can now immediately begin the introduction of the migraine treatment in the market," says Anders Weilandt, CEO of Chordate.

Chordate Medical CEO presents the company and Ozilia at Aktieportföljen Live

On Tuesday, October 15th, at 11:15, Chordate's CEO Anders Weilandt will participate at the investor event Aktieportföljen. He will present the latest developments in the company, such as the first migraine order from Saudi Arabia, the breakthrough in Switzerland and the progress on the other focus markets, the new patent in the US, as well as the next step of the exit-strategy.

"It is important for us to get out and meet both existing and potential new shareholders. We want to seize every opportunity to inform the market, and Aktieportföljen gathers a large investor community," says Anders Weilandt, Chordate CEO.

Aktieportföljen runs an investor network on Facebook in Sweden and Denmark with a total of 150,000 members.

Aktieportföljen Live can be streamed on Direkt Studios Youtube channel, and viewed on-demand in the Aktieportföljen Facebook group.

Chordate participates in Feminvest’s investor conference in Stockholm on October 8th

Chordate Medical non-executive Director and main owner Caroline Lundgren Brandberg will participate in Feminvest's investor conference "Fearless" in Stockholm on October 8th. She will take part in a panel discussion on entrepreneurship within publicly traded companies and growth in the life science sector.

“We participated in Fearless in Oslo earlier this year and received very positive response both on the Ozilia treatment method and the investment case itself. Feminvest represents a broad and strong network of investors with a particular focus on femtech and life science, where Chordate and Ozilia are a good fit given that migraine is a condition that primarily affects women,” says Caroline Lundgren Brandberg, board member of Chordate Medical.

Feminvest is an acceleration network for female ownership through education, as well as an investment operation. It is currently the largest platform for female investors and entrepreneurs in the Nordics, with nearly 47,000 subscribers. Feminvest also manages a network of 300 female angel investors.

“Over the past year, we have increased our efforts to raise awareness of the company and Ozilia both among potential investors and in segments surrounding Life Science. Feminvest covers both of these groups, making it a particularly suitable forum for us,” says Anders Weilandt, CEO of Chordate.

Caroline Lundgren Brandberg, MSc. in Engineering Physics, eMBA, has been a board member of Chordate Medical since 2021. Caroline is the Global Sales Director at climate-tech company Deedster and has previously worked internationally for Ericsson in various senior roles focusing on sales and marketing. She also holds several board and advisory board positions, including at Stockholm University.

Fearless Stockholm 2024 October Edition
October 8th, 2024
Musikaliska Kvarteret, Nybrokajen 11, Stockholm
Read more: https://feminvest.se/en/event/fearless-stockholm/

US magazine Wired covers migraine and Chordate’s Ozilia treatment

The American magazine Wired recently published an article on neuromodulation as an emerging method for treating migraines. Wired describes the technique as a “non-invasive method that can reprogram nerve signals” and potentially provide an effective alternative for patients who do not respond to traditional medications.

The Wired article highlights Chordate Medical’s development of the Ozilia treatment, which targets a specific nerve cluster in the nose (sphenopalatine ganglion) to alleviate migraine symptoms. It also emphasizes how neuromodulation, being drug-free and with minimal side effects, could challenge conventional approaches.

Several researchers are quoted, explaining that by stimulating the nervous system through the nose, this method may influence the onset and intensity of migraines, offering hope to patients searching for new options.

“Beyond awareness in the healthcare sector and research community, this type of international media attention is, of course, positive. The more people become aware of neuromodulation as an effective and safe migraine treatment, the greater the opportunity to establish Ozilia as a recognized treatment available to people suffering from migraines worldwide,” says Anders Weilandt, CEO of Chordate.

Chordate Medical has an ongoing project to obtain FDA market approval for the Ozilia treatment method and was granted a fourth patent in the United States as recently as May this year.

Read the full article in WIRED

Chordate Medical Receives First Order for Ozilia Migraine Treatment from Saudi Arabia

Chordate Medical has received its first order for the Ozilia migraine treatment from Janin Medical, the company's distributor in Saudi Arabia. The order is for two Ozilia systems that can be used for migraine treatment as soon as marketing approval for Ozilia's migraine indication is obtained in the country.

"Following the success of Ozilia for chronic rhinitis in Saudi Arabia, it is encouraging to see results also in the migraine segment. This order is a result of hard work by Janin Medical, who are also working on securing the registration for the migraine treatment as soon as possible," says Anders Weilandt, CEO of Chordate.

Saudi Arabia and the rest of the Gulf region have long been among Chordate's priority markets to demonstrate proof of concept, and Ozilia has been used for a longer period by several private hospitals for rhinitis treatment.