ChemoTech has signed an important service agreement with HealthCare Global Enterprises Ltd. (HCG). HCG is listed on the Mumbai Stock Exchange and is one of the largest and most prestigious private providers of cancer care in India, with a network of more than 20 comprehensive cancer centres and hospitals spread across India.
By signing this service agreement ChemoTech and HCG has entered into a collaboration in order to establish further important clinical data using IQwave™ and its tumour specific electroporation using the D-EECT protocol (Dynamic ElectroEnhanced ChemoTherapy™), developed by ChemoTech. HCG's interest for IQwave™ involves various indications of cancer and for them to include D-EECT treatments in their portfolio for various treatment alternatives for cancer.
The agreement includes a validation of both commercial and clinical aspects for IQwave™ and the D-EECT treatment. ChemoTech has agreed to supply an IQwave™ to HCG during their validation process. The commercial interest for ChemoTech is initially to sell the disposable treatment kits. The delivery and training of the team at HCG will start immediate after the Indian COVID-19 lock-down has been lifted.
"We at HCG are optimistic that the 'HCG-Scandinavian Chemotech' collaboration for offering Electrochemotherapy treatment will be extremely beneficial for cancer patients in India. The Translational Medicine department at HCG and Chemotech will also work towards designing electrochemotherapy tools to reach deep-seated tumours and explore the immunomodulatory potential of electrochemotherapy." - Dr. Radheshhyam Naik, Chair, Department of Translational Medicine, Head, Medical Oncology and Group Medical Advisor, HealthCare Global Enterprises Ltd. (HCG Oncology).
"This contract is one of the most significant so far for ChemoTech. Through this partnership with HCG, which has over 20 cancer hospitals in India and a strong reputation for being at the forefront of clinical excellence, we see this a great opportunity to continue to establish IQwave™ and D-EECT as a treatment alternative to cancer in India. We look forward to, along with HCG, initiate investigations to identify and document the immunological effects of our treatment."- Mohan Frick, CEO
About the HCG Group
Healthcare Global Enterprises Ltd. (HCG), is a leading healthcare organisation publicly traded on the Mumbai stock exchange with its headquarter in Bangalore, focusing on delivering quality care, optimum cure and comfort to its patients. HCG and has become a synonym for the most trusted healthcare brand in India and holds a special position in cancer care in the country.
For more information, please contact:
Mohan Frick, Co-Founder and CEO
Phone: +46 (0)10-218 93 00
Certified Adviser: Västra Hamnen Corporate Finance AB, Tel: +46 40 200 250, E-mail: [email protected]
This information is such information which Scandinavian ChemoTech AB (publ) are obligated to make public according to EU's market abuse regulation and the law of securities market. The information was submitted by the agency of above stated contact person, to be made public on Friday March 27th 2020 at 10.30 (CET).
Scandinavian ChemoTech AB (publ)
ChemoTech is a Swedish medical technology company based in Lund that has developed a patented technology platform to offer cancer patients access to a new treatment alternative, tumour specific electroporation, available for treatment of both for humans and animals. There are a large number of cancer patients whose tumours for various reasons cannot be treated by conventional methods but where tumour specific electroporation can be a solution. Therefore, the company continuously evaluates new opportunities and areas of application for the technology. ChemoTech's shares (CMOTEC B) are listed on Nasdaq First North Growth Market in Stockholm and Västra Hamnen Corporate Finance AB is the company's Certified Adviser. Read more at: www.chemotech.se.
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