Scandinavian ChemoTech

Chile, with its approximately 19.631.721 inhabitants (2023), has a well-developed health care system and insurance scheme where currently, 68% of the population is covered by the public fund and 18% by private companies. Cancer is the second leading cause of death[1] and Chile has an adjusted incidence rate of 226 per 100,000 in men and 180 per 100,000 in women[2].  Every year approximately 51,600 new cases are being diagnosed (excluding non-melanoma cancer).[3]

In Chile the old and static electroporation devices were introduced 2012, by the same entrepreneur, Patricio Fajardo, that today owns Lambertis. This means that even if Lambertis is an entrepreneurial driven company it has a long track record of introducing medical devices in the cancer field. They have a wide network and close collaborations with KOLs (Key Opinion Leaders) in Chile. The Distribution agreement signed today includes ChemoTech's IQwave TSE system for Human Care.

Mr. Fajardo used to work as a distributor to the famous Swedish company Elekta. He started his collaboration with Elekta in 2002 and became part-owner of a Gamma Knife unit in Santiago in 2010 following an introduction of Göran Hellers, the late co-founder of ChemoTech.

"Even if the older static generation have been appreciated by doctors in Chile, we see that the new TSE technology, which is less destructive and has shown to improve the immune response, serve as a perfect complement or even replacement of radiotherapy and standard chemotherapy. The new Tumor Specific Electroporation device will give patients a quality of life and better chances to defeat cancer", says Patricio Fajardo.

"ChemoTech always favors markets, distributors and key opinion leaders that are innovative and ready join us to introduce our unique TSE technology in the fight against cancer. We are very happy that we soon will be able to offer the TSE therapy to several private and public cancer centers and hospitals in Chile, which is a great start to our launch in South America, says Mohan Frick, CEO of ChemoTech.

ChemoTech will aim to place one (1) IQwave at an oncology hospital in Chile by the end of the fourth quarter of 2023 or 1st quarter 2024, depending on the process time for the registration.

For more information, please contact:

Mohan Frick, CEO

Phone: +46 (0)10-218 93 00

E-mail: ir@chemotech.se

Certified Adviser: Redeye AB, Phone: +46 (0)8 - 121 576 90

E-mail: certifiedadviser@redeye.se

This disclosure contains information that ChemoTech is obliged to make public pursuant to the EU Market Abuse Regulation (EU nr 596/2014). The information was submitted for publication, through the agency of the contact person, on 18-09-2023 09:10 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™ (TSE), available for treatment of both humans and animals. There are a large number of cancer patients whose tumours for various reasons cannot be treated by conventional methods but where TSE 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 Redeye AB is the company's Certified Adviser. Read more at: www.chemotech.se