IceCure Receives Notice of Patent Allowance in Japan for a Novel Cryogen Flow Control to Optimize Patient Outcomes

Rhea-AI Summary

IceCure Medical Ltd. (ICCM) receives a Notice of Allowance from the Japan Patent Office for its 'Cryogen Flow Control' patent, enhancing cryoablation procedures. The patent will be effective until 2042, with pending approvals in the EU, the U.S., and other major markets. Cryogenic flow control optimizes temperature regulation for improved treatment efficacy and tissue safety, potentially expanding cryoablation applications.

Insights

Market Research Analyst

The granting of a patent notice by the Japan Patent Office to IceCure Medical Ltd. for 'Cryogen Flow Control' is a significant strategic advancement for the company. This development is poised to solidify IceCure's intellectual property portfolio and competitive edge in the cryoablation technology sector, particularly in the Japanese market. As Japan is known for its technological innovation and advanced healthcare system, securing a patent in this jurisdiction can potentially open up substantial commercial opportunities for IceCure.

From a market perspective, the extended protection until 2042 provides a long-term advantage, allowing IceCure to capitalize on its technology without immediate concerns of competition through similar technologies. Additionally, with the patent pending in other major markets such as the European Union and the U.S., IceCure is likely to pursue a similar protective strategy, which could lead to a global expansion and increased market share.

Medical Research Analyst

The technological implications of IceCure's cryogen flow control are substantial in the field of minimally-invasive surgery. The ability to regulate the flow of cryogens precisely ensures that the ablation process is both effective and safe, minimizing damage to surrounding tissues. This precision is particularly relevant for procedures where the margin for error is minimal. The enhanced efficacy and precision promised by IceCure's technology could lead to broader clinical applications and potentially improve patient outcomes.

Furthermore, the integration of navigation and mapping functionalities suggests a move towards more sophisticated cryoablation procedures. These advancements could lead to increased adoption rates among practitioners, especially for treating tumors where traditional surgical methods are high-risk or not viable.

Financial Analyst

The notice of allowance for IceCure's patent in Japan represents not just a legal milestone but also a financial one. Intellectual property, particularly in the healthcare technology sector, can be a critical driver of company valuation. The announcement may positively influence investor sentiment, as patents provide a form of security for the company's innovations, potentially leading to increased revenue streams through licensing deals or strategic partnerships.

Collaboration with Terumo, a well-established distributor in Japan, indicates a strategic move to penetrate the Japanese market effectively. The synergy between IceCure's innovative technology and Terumo's distribution network can be a catalyst for revenue growth. Investors will be keen to monitor the progress of patent approvals in other regions, which could signal further expansion and revenue diversification for IceCure.

• Innovating as a global leader in cryoablation technologies, with 42 patents issued and allowed
• Cryogenic flow control enhances the efficacy and precision of cryoablation procedures

CAESAREA, Israel, March 12, 2024 /PRNewswire/ -- IceCure Medical Ltd. (Nasdaq: ICCM) ("IceCure" or the "Company"), developer of the ProSense® System, a minimally-invasive cryoablation technology that destroys tumors by freezing as an alternative to surgical tumor removal, today announced it has received a Notice of Allowance from the Japan Patent Office (the "JPO") for its patent application titled "Cryogen Flow Control". Once granted, the patent will be in effect until 2042. A patent for this invention is pending approval in European Union, the U.S., and other major markets.

Precise temperature control is crucial for efficacy and tissue safety in cryoablation procedures. Cryogenic flow control achieves this by utilizing sensor data to regulate the flow of cryogens, ensuring the desired temperature is reached and maintained at the distal tip of catheters and probes. This optimized cryogenic delivery enhances treatment effectiveness in cryoablation procedures. Advanced cryogen flow control systems may also offer functionalities, such as navigation and mapping support within the patient's anatomy, and be incorporated into a wide range of cryosurgical tools.

"We believe that cryogen flow control will be instrumental in enabling practitioners to perform accurate navigation and cryo-mapping to achieve cryoablation efficiency and expand cryoablation treatment to more clinical applications in the future," stated Eyal Shamir, IceCure's Chief Executive Officer. "As a leader in cryoablation technology worldwide, we continue to innovate and build our IP portfolio. This Notice of Allowance in Japan further fortifies our position in an important market, served in partnership with our in-country distributor, Terumo."   

About ProSense®

The ProSense® Cryoablation System provides a minimally invasive treatment option to destroy tumors by freezing them. The system uniquely harnesses the power of liquid nitrogen to create large lethal zones for maximum efficacy in tumor destruction in benign and cancerous lesions, including breast, kidney, lung, and liver.

ProSense® enhances patient and provider value by accelerating recovery, reducing pain, surgical risks, and complications. With its easy, transportable design and liquid nitrogen utilization, ProSense® opens that door to fast and convenient office-based procedures for breast tumors.

About IceCure Medical

IceCure Medical (Nasdaq: 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 cleared and approved to date including in the U.S., Europe, and China.

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, the Company uses forward-looking statements when it discusses that advanced cryogen flow control systems may also offer other and that the Company believes that cryogen flow control will be instrumental in enabling practitioners to perform accurate navigation and cryo-mapping, that the Company is continuing to innovate and build its IP portfolio and that this Notice of Allowance in Japan further fortifies the Company's position in Japan. Historical results of scientific research and clinical and preclinical trials do not guarantee that the conclusions of future research or trials will suggest identical or even similar conclusions. Important factors that could cause actual results, developments and business decisions to differ materially from those anticipated in these forward-looking statements include, among others: the Company's planned level of revenues and capital expenditures; the Company's available cash and its ability to obtain additional funding; the Company's ability to market and sell its products; legal and regulatory developments in the United States and other countries; the Company's ability to maintain its relationships with suppliers, distributors and other partners; the Company's ability to maintain or protect the validity of its patents and other intellectual property; the Company's ability to expose and educate medical professionals about its products; political, economic and military instability in the Middle East, specifically in Israel; as well as those factors set forth in the Risk Factors section of the Company's Annual Report on Form 20-F for the year ended December 31, 2022 filed with the SEC on March 29, 2023, and other documents filed with or furnished to the SEC which 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:
Email: investors@icecure-medical.com
Michael Polyviou
Phone: 732-232-6914
Todd Kehrli
Phone: 310-625-4462

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SOURCE IceCure Medical

FAQ

What technology does IceCure Medical Ltd. (ICCM) specialize in?

IceCure Medical Ltd. (ICCM) specializes in cryoablation technology.

What is the title of the patent application that IceCure Medical Ltd. (ICCM) received a Notice of Allowance for?

IceCure Medical Ltd. (ICCM) received a Notice of Allowance for its patent application titled 'Cryogen Flow Control'.

Until which year will the patent granted by the Japan Patent Office be in effect for IceCure Medical Ltd. (ICCM)?

The patent granted by the Japan Patent Office will be in effect until 2042 for IceCure Medical Ltd. (ICCM).

What does cryogenic flow control achieve in cryoablation procedures?

Cryogenic flow control regulates the flow of cryogens to ensure desired temperature levels are reached and maintained at the distal tip of catheters and probes, enhancing treatment effectiveness.

How does IceCure Medical Ltd. (ICCM) plan to utilize cryogen flow control technology?

IceCure Medical Ltd. (ICCM) plans to use cryogen flow control technology for accurate navigation and cryo-mapping to improve cryoablation efficiency and expand clinical applications.