Israeli MedTech company IceCure, which develops a non-surgical cryoablation solution for destroying cancerous tumors, announced that it will be expanding into both Russia and Taiwan. The expansion follows the company’s regulatory approval by the governments of both countries of distribution and use of IceCure’s ProSense solution, which freezes benign and cancerous tumors in a variety of organs, such as breast, lung, kidney and bone..
According to IceCure, in 2018 there were about 543,000 new cases of cancer in Russia, while in Taiwan in 2017 about 112,000 people were diagnosed with cancer. "Entry permits into these additional markets join our other regulatory approvals, and major agreements and transactions, including in India, Thailand, Singapore, France and Germany, in which we can use our technology to destroy tumors in a variety of labels, while significantly increasing the potential market beyond our geographic expansion", said Eyal Shamir, CEO of IceCure.
IceCure’s technology provides physicians a relatively minimally invasive cryoablation treatment for freezing breast and other cancerous tumors. The system is marketed and sold worldwide, having received FDA and CE approvals. The use of IceCure technology allows the destruction of tumors, benign and cancerous, in various organs, within an hour in a doctor's clinic, without the need for hospitalization before or after the procedure. According to IceCure, the system benefits healthcare providers with a cost effective tool for previously resource demanding procedures, while also providing patients with an on-the-spot treatment that doesn’t require extensive hospital stay or expensive hospital cost.
This recent announcment comes in addition to IceCure’s expansion into Thailand through its cooperation with Terumo Group, in addition to its operations with Terumo in Japan and Singapore. The company was founded in 2006 by serial entrepreneur Didier Toubia, with its main headquarters in Israel. Just back in August, IceCure raised $6 million in equity financing to continue its global expansion.