The final milestone in the monetization of the first technology developed by a company from the Adiuvo Investment Group: the shareholders of Airway Medix have agreed to sell a system for clearing the endotracheal tube (Closed Suction System, CSS). The transaction is scheduled to close by the beginning of October 2017.
The shareholders of Airway Medix present at the Extraordinary Meeting of Shareholders, agreed to sell an organized part of the enterprise related to the closed suction catheter airway maintenance system (CSS). This innovative product, in conjunction with the current medical procedures, offers a unquestionably more effective clearing of endotracheal tubes used in intubated patients treated in Intensive Care Units (ICU), in hospitals worldwide.
“The consent of the General Meeting was key to the execution of the transaction. We are now proceeding to close the transaction, which should take place in the early days of October. As a result, Airway Medix will receive over PLN 22 million, and pursuant to the terms and conditions of the agreement signed, the remaining payments for a similar total will be spread over time,” Anna Aranowska-Bablok, Board Member of Airway Medix SA, says.
The transaction on the sale of CSS Technology is a breakthrough for Airway Medix in both financial and business spheres.
“The first tranche of payment will serve to settle the liabilities of Airway Medix and the surplus will provide the necessary capital for complete commercialization of the other two technologies. This transaction, where we partner with a company listed on the New York Stock Exchange, a global industry leader, has increased out visibility in the sector. We are perceived as a reliable partner, offering solutions sought after by health professionals and other users of specialized devices in ICUs and anesthesiology departments. Thanks to this, it is much easier for us to pursue negotiations on the sale of other technologies from our portfolio. What more, we have acquired practical knowledge on building transaction value for businesses interested in acquiring other technologies that we are currently finalizing,” Anna Aranowska-Bablok emphasizes.
CSS is the only system available in the market, providing effective clearing of endotracheal tubes throughout the period when the patient is ventilated using a respirator. CSS is compatible with the currently applied devices and hospital procedures. CSS greatly reduces the risk of ventilator associated pneumonia (VAP), one of the most severe and costly hospital-acquired infections.
Within 12-24 months, Airway Medix is anticipating the monetization of the remaining two technologies, which are currently entering the clinical marketing studies phase.
“These technologies, as in the case of CSS, are a response to real medical needs, and present numerous competitive advantages. Their application, however, is broader compared to the first technology commercialized by Airway Medix, and this raises the interest of industry players in buying them. At present, we are carrying out an analysis of the market and patent environment in terms of potential portfolio extension to include subsequent, new and complementary in-house technologies, developed in the course of continuing discussions and consultations with clinicians and industry representatives,” Anna Aranowska-Bablok says.
Airway Medix focuses on research and development work and commercialization of medical devices for the mechanically ventilated and immobilized patients. By incorporating innovative, globally patented technologies, products developed by Airway Medix protect patients from acquiring VAP (ventilator associated pneumonia), a disease considered one of the most common, most serious, and most costly complications among mechanically ventilated patients.
Airway Medix SA has been listed on the main trading floor of the Warsaw Stock Exchange since 2014. For more information about the company, please visit the corporate website at: www.airwaymedix.com.
Adiuvo Investments engages in the selection, development, financing and commercialization of innovative technologies on international markets, focusing, in particular, on (1) disease management, monitoring of a healthy lifestyle and therapies by means of mobile devices, and (2) dietary supplements and functional food. Currently, Adiuvo’s portfolio counts 15 technologies and nearly 30 related products.
By ensuring the protection of intellectual property, validating technologies in clinical trials under pharmaceutical rigor, and acquiring marketing authorizations for new products, Adiuvo is in a position to commercialize projects according to various business models on an international scale.
Research and development work related to the projects in the company’s portfolio are carried out in various countries, including the UK, Israel, the USA, Poland and Germany. This applies to the location of research laboratories, which are usually run by the main inventors of specific products and technologies, as well as to clinical studies conducted by established research centers.
In 2015, Adiuvo Investments SA was listed on the main trading floor of the Warsaw Stock Exchange. For more information about the company, please visit the corporate website at: www.adiuvoinvestments.com.