Chordate Medical has secured an agreement for the installation of the migraine treatment Ozilia at a private specialist clinic in Germany. This follows from the active work of the company’s marketing consultants who are introducing the treatment to the German market. In addition, Chordate Medical has recently contracted a market expert in the United Arab Emirates for introduction of the migraine and rhinitis treatment. CEO Anders Weilandt tells us more in an interview.
Chordate Medical has developed the treatment method Ozilia Migraine, a neromodulating treatment alternative to today’s drugs for chronic migraine. The company has recently completed a clinical study with Ozilia in Finland and Germany, which shows that the treatment significantly reduces the number of days with headaches and migraines. In addition, Ozilia can be used for the treatment of chronic nasal congestion (rhinitis).
First installation in Germany
Germany is one of the world’s largest pharmaceutical markets for the treatment of migraine. Approximately 12.5 million people suffer from migraines in the country, of which approximately 1.5-1.8 million have chronic migraines. In addition, migraine and headache care in Germany is one of the most advanced in Europe.
In light of the well-developed care and Chordate Medical’s study progress in the country, the company has chosen to introduce its treatment in Germany. Recently, the company announced that it has entered into an agreement for the installation of equipment and consumables for Ozilia Migraine at a private specialist clinic in Hamburg, which is the first installation in the country:
“It is very satisfying to achieve a breakthrough in Germany as it is one of the markets we are focusing on. This will undoubtedly make it easier to continue converting prospects into orders in Germany. The agreement came about thanks to the skilled work of our German market experts.” – Anders Weilandt, CEO of Chordate.
Launching in the UAE
Chordate Medical’s focus markets have so far been Finland, Germany, the UK, Italy, Israel and Saudi Arabia. Previously, the company has also communicated its plans to exploit the opportunities in the rest of the Gulf region. The company now announces that they see the United Arab Emirates (UAE) as a logical next step and that they have therefore engaged MEDSWAN MEDICAL SUPPLIES for the introduction of Ozilia on the UAE market.
Medswan is owned and led by Hanna Hardwick, with 20 years of experience from leading sales and marketing positions at global companies such as Sirtex, Terumo, Fresenius, Hilrom, and Siemens.
In addition to extensive experience in relevant specialist segments in the medtech industry, Hanna Hardwick has a broad network of contacts and is very familiar with market introductions. Chordate Medical has also developed several important customer contacts for the UAE through participation at international congresses.
Medswan will work with the registration of the Ozilia products, which is estimated to take ten weeks. In parallel, they will focus on launch and market access. According to Chordate Medical, the healthcare market in the UAE is basically entirely private and relatively easy to access.
Comments from the CEO
BioStock reached out to CEO Anders Weilandt to find out more about the installation in Germany and the launch in the United Arab Emirates.
How big is the order from Germany financially?
– The benefit of this type of product is the volume that builds up over time. A patient can be assumed to need an average of four treatments per year, for many years. A smaller clinic can have 50-150 patients who regularly wants the treatment. All in all, it will be a significant revenue for us – from a single clinic. Discussing what it looks like right at the beginning does not really make sense because it does not say much about the deal itself.
– We are not always able to disclose the identity of individual customers or the size of a business due to the usual business confidentiality when it comes to private customers.
– However, our main focus is to build proof-of-concept (PoC) in the market, i.e. to show that we can gain customers and that they build up a volume of repeat patients. That is our strategic goal. In that process, revenues will also increase, which we are working towards, but the real goal is PoC.
Is the installation for commercial use of the system or evaluation at the private specialist clinic?
– It is for regular clinical activities, i.e. commercial use.
You have now also chosen to launch your migraine and rhinitis treatment in the United Arab Emirates. Why is this a natural next step?
– The market in UAE is both well-developed and relatively easy to process – the level of specialist care is high and the decision-making paths are short and efficient. We are clearly benefited by our experience from Saudi Arabia and the fact that we have accumulated many customer contacts at the scientific congresses where we have exhibited over the past year.The content of BioStock’s news and analyses is independent but the work of BioStock is to a certain degree financed by life science companies. The above article concerns a company from which BioStock has received financing.