Chordate Medical

“The availability of Ozilia as a treatment option for chronic migraine and chronic rhinitis in these markets adds significant value to the business for a potential acquiring company,” says Anders Weilandt, CEO of Chordate.

Chordate's focus markets stand out in two distinct ways. First, they have a well-developed private healthcare sector with an insurance system that, over time, could allow treatments like Ozilia to secure reimbursement codes. Second, the regulatory pathway for obtaining market approval for medical devices like Ozilia is considered favorable.

Germany

Ozilia is currently offered as a migraine treatment at six clinics in Germany.

In November 2023 and January 2024, Chordate Medical signed agreements with two specialist clinics in Hamburg and Munich for Ozilia. In addition to these two clinics, Ozilia is available as a migraine treatment at four other clinics, including those in Freiburg and Frankfurt.

Since August 2022, Chordate has been in partnership with MedTech Innovation Germany (MTIGER) to introduce Ozilia to key opinion leaders in neurology across both private and public healthcare sectors in Germany.

Saudi Arabia

Ozilia is currently offered as a rhinitis treatment at nine clinics in Saudi Arabia.

In September 2024, Chordate received its first order for Ozilia migraine treatment in Saudi Arabia. Shortly thereafter, the Saudi Food and Drug Authority (SFDA) approved the market authorization application for the migraine indication. This enabled Chordate and its partner, Janin Medical, to commence a broad market launch of Ozilia as a migraine treatment in the country. Clinical evaluation with patients is currently ongoing or scheduled at three public hospitals and a major private clinic.

In mid-2023, Chordate received its first order for Ozilia for chronic rhinitis via its new distributor in Saudi Arabia, Janin Medical. The customer was the private healthcare company Nahdi Care Clinics, which operates four hospitals in the country’s second-largest city, Jeddah. Altogether, Ozilia is offered as rhinitis treatment at six clinics in Jeddah and three in Riyadh. Clinical evaluation with patients is also underway at two additional public hospitals, and a demonstration has been scheduled at a private hospital chain in Jeddah.

Italy

Ozilia is currently offered as a rhinitis treatment at eleven clinics in Italy.

Since 2019, Chordate Medical's distributor, Vedise Hospital, has been treating patients with chronic rhinitis using Ozilia. While Ozilia has been in use as a rhinitis treatment for five years, Vedise is actively working on introducing the migraine treatment to the Italian market.

Switzerland

Ozilia is currently undergoing clinical evaluation for migraine treatment at three clinics in Switzerland.

In June 2024, Switzerland was added to the list of focus markets. At the same time, Chordate signed a partnership agreement with Neurolite AG. Neurolite has specialized for many years in delivering cutting-edge medical technology solutions in neurology to hospitals and private clinics. Shortly after the signing of the partnership agreement, Neurolite placed its first order for Ozilia products with a value of approximately SEK 370,000.

Finland

As four of the nine trial clinics in the pivotal PM007 registration study for migraine were located in Finland, it has also been designated a focus market. Chordate is working to initiate clinical use at three of the trial clinics and believes this is likely to happen.