IceCure Medical Receives Notice of Intention to Grant a European Patent Covering Its Cryogenic Pump

Rhea-AI Summary

IceCure Medical Ltd. (NASDAQ: ICCM) announced receiving notification from the European Patent Office of an intention to grant a patent for its proprietary cryogenic pump, which will enhance the ProSense® cryoablation system. This pump is designed for long-term procedures without the need for frequent liquid nitrogen refills, improving efficiency and temperature control. The patent will be effective until 2041. CEO Eyal Shamir highlighted its potential to enhance cryoablation procedures and expand treatment applications.

Positive

• Notification of a patent for a new cryogenic pump will enhance the ProSense® system.
• Patent protection until 2041 provides a strategic advantage.
• Improves efficiency in cryoablation procedures and expands treatment applications.

Negative

• None.

CAESAREA, Israel, Dec. 20, 2021 /PRNewswire/ -- IceCure Medical Ltd. (NASDAQ: ICCM) (TASE: ICCM) ("IceCure" or the "Company"), developer of minimally-invasive cryoablation technology, the ProSense^® System, that destroys tumors by freezing as an alternative to surgical tumor removal, today announced that it received notification from the European Patent Office (the "EPO") of an intention to grant a patent for IceCure's application entitled "Cryogen Pump".  When issued, the patent will include protection for IceCure's proprietary cryogenic pump, with features that will enable IceCure's next generation of cryoablation systems. The patent will be in effect until 2041.

The novel cryogenic pump that IceCure has developed is submersible in liquid nitrogen and works in a closed circuit. In addition, this cryogenic pump is designed to be used for multiple procedures or long-term duration procedures without the need to refill liquid nitrogen. Moreover, this pump enables temperature control of the cryoprobe, as well as the use of a wider range of cryoprobes and catheters and, in addition, improves the cooling rate during a procedure.

Eyal Shamir, Chief Executive Officer of IceCure, noted, "This notification by the EPO of an Intention to Grant a patent for our cryogenic pump is another step forward for IceCure and the development of a new generation of single-probe and multi-probe cryoablation systems for ablating malignant tumors. Having use of this technology is critical, since we believe it will be instrumental to improving the quality of the cryoablation procedures available today, and enable practitioners to perform longer-term and multiple procedures more efficiently, as well as allowing for the expansion of cryoablation treatment to additional clinical applications in the future."

About IceCure Medical

Founded in 2006, Israel-based IceCure Medical (NASDAQ: ICCM) (TASE: ICCM) develops and markets ProSense®, an advanced liquid-nitrogen-based cryoablation therapy for the treatment of tumors (benign and cancerous) by freezing, with the primary focus areas being breast, kidney, bone and lung cancer. Its minimally invasive technology is a safe and effective alternative to hospital surgical tumor removal that is easily performed in a relatively short procedure. The system is marketed and sold worldwide for the indications approved to-date by FDA and the European CE Mark.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995 and other Federal securities laws. Words such as "expects," "anticipates," "intends," "plans," "believes," "seeks," "estimates" and similar expressions or variations of such words are intended to identify forward-looking statements. For example, IceCure is using forward looking statement in this press release when it discusses the benefits of cryoablation as a treatment for breast cancer and the benefits of its cryogenic pump and the development of the next generation of cryoablation systems. Because such statements deal with future events and are based on IceCure's current expectations, they are subject to various risks and uncertainties and actual results, performance or achievements of IceCure could differ materially from those described in or implied by the statements in this press release. The forward-looking statements contained or implied in this press release are subject to other risks and uncertainties, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company's Registration Statement on Form F-1 (as amended, the "Form F-1"). Copies of the Form F-1 are available on the SEC's website, www.sec.gov. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.

IR Contact:

Chuck Padala
LifeSci Advisors
o: +1 646-627-8390 / c: +1 917-741-7792
email: chuck@lifesciadvisors.com

View original content:https://www.prnewswire.com/news-releases/icecure-medical-receives-notice-of-intention-to-grant-a-european-patent-covering-its-cryogenic-pump-301448168.html

SOURCE IceCure Medical

FAQ

What did IceCure Medical announce on December 20, 2021?

IceCure Medical announced an intention to grant a patent for its cryogenic pump by the European Patent Office.

What is the significance of the cryogenic pump patent for IceCure Medical?

The patent enhances the ProSense® cryoablation system and is expected to improve procedural efficiency and expand treatment applications.

How long will the cryogenic pump patent be valid?

The patent will be effective until 2041.

What is the focus of IceCure Medical's cryoablation technology?

IceCure Medical focuses on treating tumors, both benign and cancerous, primarily in breast, kidney, bone, and lung cancer.

What are the benefits of IceCure's cryogenic pump?

The cryogenic pump allows for long-term procedures without frequent nitrogen refills and improves temperature control during cryoablation.