Press communication
Lund, Sweden, December 12 2023
This is a translation of the Swedish press release published 2023-12-12
Neola Medical AB (publ) announced today that the company has been granted a new patent in Europe for a strategically important invention in the medical technology product Neola®. The patent provides strong protection for the company’s disposables, the advanced light and detector probes that are attached to the child’s skin for continuous lung monitoring. To monitor both the right and left lung, two probe sets are needed, which are changed daily for preterm born infants. The patent is of particular significance as the disposables provide a significant leverage in the company’s future profitability model and feature a unique optical design developed by Neola Medical’s team.
“Our business model is based on selling the company’s medical technology product, Neola®, along with disposables, where the major leverage in the company’s profitability comes from the recurring revenues for the disposables that need to be changed daily. Today, there is no similar product on the market, making the patent approval strategically important for Neola Medical as it protects our unique design of the advanced disposables and is significant for our future profitability model,” says Hanna Sjöström, CEO Neola Medical.
The company’s medical technology product, Neola®, is based on optical spectroscopy for continuous monitoring of the lungs in preterm born infants. The unique optical construction in the light probes evenly distributes the measurement light diffusely from small light probes attached to the child’s skin with a transparent adhesive, enabling a non-invasive measurement of relative lung volume and oxygen concentration in the lungs of preterm born infants.
“It is gratifying to receive this patent for our advanced invention, which has a completely unique optical design that allows laser light from a laser to be directed to the skin and evenly distributed over the surface, staying in place for an extended period. As far as we know, there is no similar product on the market, making this patent approval significant and highlighting the innovation power of our technical team at Neola Medical,” says Sara Bergsten, CTO Neola Medical.
The company has also submitted patent applications for the invention in the USA, Australia and China.
For further information, contact:
Hanna Sjöström, CEO Neola Medical, phone: +46 (0)760-10 71 16, e-mail: hanna.sjostrom@neolamedical.com
Neola Medical AB (publ) develops medical technology device for continuous monitoring of preterm born infants’ lungs. Immediate detection of complications provides the possibility of early treatment and improved health care. The patented technology is based on a spectroscopic method developed at Lund University in Sweden. The company was founded in 2016 and is listed on NASDAQ First North Growth Market (ticker: NEOLA). Read more at www.neolamedical.com. The company’s Certified Adviser is FNCA Sweden AB.