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Home Media Center Pipeline news OCON Medical announces its new successful round of financing & arrival of Chemo Group as shareholder

OCON Medical announces its new successful round of financing & arrival of Chemo Group as shareholder

11 October 2017

• This investment will help the inventor of the IUB™ intrauterine platform to boost its expansion and increase manufacturing capacity

• Chemo Group is already marketing the spherical copper intrauterine device in several European countries

OCON Medical (Modiin – Israel), the Woman Health Company and inventor of the IUB™ intrauterine platform, is proud to announce that Chemo Group, a global healthcare company and one of the market leaders in Women’s Health, has decided to become an OCON shareholder at the occasion of its new successful round of financing.

The Chemo Group, through its Exeltis Women’s Health Business, has been OCON’s commercial partner since 2016 and is marketing the IUB™ Ballerine™, a spherical copper intrauterine device based on OCON’s IUB™ propriety technology platform, in several European countries, including Spain and Italy.

Having experienced repeated successful market launches, Chemo Group looked to strengthen the ties and become an active shareholder, joining historical investors in this new round. Chemo Group and OCON have the possibility to further extend strategic alliances and global collaborations in the future.

This investment accelerates OCON’s continued fast growth and expansion in both marketed products as well as further development of their IUB™ (IntraUterine Ball) technology platform applications. Among others this includes the Sphera®, a hormonal contraception based on the spherical frame, as well as other therapeutic gynaecological applications.

The IUB™ Ballerine®, with over 50,000 units sold, consistently gains market share wherever it has been launched, succeeding across very different markets, thus proving the concept of the IUB™ technology platform’s attractiveness to gynecological prescribers globally. OCON is currently implementing their planned market launches of the of IUB™ Ballerine® product and initiating the clinical phase of their current assets, starting in 2017, which thus maintains their ambitious growth trajectory.

OCON’s CEO, Mr. Ariel Weinstein said “I am proud to welcome Chemo as OCON’s strategic shareholder after having experienced a fruitful collaboration on many markets. This new money will allow us to accelerate marketing roll out of the IUB Ballerine in numerous countries, R&D with the goal to start first in woman for two new products in Q4, 2017 and Q3, 2018, focus on US entry and increase manufacturing capacity”.

In the words of Mr. Leandro Sigman, the Chairman of the Chemo Group who has joined the board: “I am excited by OCON's innovative IUB technology. It is being really well received by gynaecologists and women seeking long acting hormone free contraception. Our Exeltis Women's Health Business will accelerate the uptake of the IUB, while as a shareholder Chemo Group can really support OCON’s growth strategy”.

OCON Medical was established in 2011 and is the developer of the IUB™, a proprietary intrauterine platform made of a super-elastic alloy which is an ideal carrier for multiple substances and indications. OCON’s products are sold in Europe since 2014 and the company is actively developing pipeline products for additional indications and has its products sold in multiple countries. For more information visit the company website: www.oconmed.com

Chemo Group is a global pharmaceutical company with over 40 years of experience and commitment in safeguarding and improving people's health and well-being. The Chemo Group has offices in more than 40 countries in Europe, the Americas, Asia, and Africa, and employs more than 6,000 professionals. The Group’s 15 factories, 10 R&D centers, and more than 35 affiliated pharmaceutical companies provide high quality, accessible medicines and services to patients around the world while collaborating with more than 1,150 pharmace.

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