Prostatype Genomics engages Healthcare Capital Mergers as U.S. transaction advisor
Prenumeration
Beskrivning
| Land | Sverige |
|---|---|
| Lista | First North Stockholm |
| Sektor | Hälsovård |
| Industri | Medicinteknik |
Prostatype Genomics announces that the company has engaged Healthcare Capital Mergers, LLC, Chicago "HCM" as transaction advisor to identify one or more strategic investors and/or commercial partners, primarily in the United States. The collaboration is in line with the previously communicated business plan to initially launch Prostatype® in the U.S. on its own, followed by scaling up with one or more major partners. The company is already noticing significant interest from potential U.S. partners, and this interest is expected to become more concrete when Medicare approval for reimbursement is obtained and followed by sales revenue.
The existing U.S. market for Prostatype® is now estimated by the company to be worth at least 4 billion SEK (375 million USD) per year based on available sales data in 2024, and it is expected to grow to double this size up until 2040.
After Medicare approval, Prostatype Genomics plans to move from today's approximately 10 leading U.S. urology clinics/hospitals that are evaluating Prostatype® clinically to a broader commercial uptake in selected states and urology groups (LUGPA groups), using its own sales force to demonstrate commercial scalability. After that, the company is expected to have established good conditions to be able to move forward with partners, in parallel with its own operations, to increase its market share in a growing market.
“Considering the concrete progress we are making in the U.S., the board of directors and management believe that the timing is right to begin this process in line with the previously communicated business plan. We are now starting this work well in advance, together with a qualified advisor, to identify one or more major partners in the U.S. with the resources required to be able to scale up to nationwide commercial activities when the timing is right," says Prostatype Genomics' CEO Fredrik Rickman.
Healthcare Capital Mergers, LLC, Chicago has many years of experience identifying and assisting in executing licensing deals and acquisitions in the healthcare sector. The company has a solid network of contacts in the U.S., but also in other major markets in Europe, the Middle East and Asia.
For more information, please contact:
Fredrik Rickman, CEO Prostatype Genomics AB
Telephone: +46 (0)73 049 77 01
Email: fredrik.rickman@prostatypegenomics.com
About Prostatype Genomics AB
Prostatype® is a genomic test that is available to patients and treating urologists as a complementary decision basis for the question of treatment or no-treatment of prostate cancer. The test was developed by a leading research group at Karolinska Institute and is provided by Prostatype Genomics AB.