IceCure’s ProSense® Demonstrates “Zero Local Recurrence” of Breast Cancer
IceCure Medical (Nasdaq: ICCM) saw its share price rise by 1.75% in intraday trading on Tuesday after the company announced that results from an independent study of patients in Japan demonstrated zero local recurrence of breast cancer five years after treatment with the company’s ProSense® cryoablation device.
The study of 18 early-stage breast cancer patients who had undergone treatment with ProSense® was published in the peer reviewed journal Breast Cancer. No patients had local recurrence or distant metastasis at the five year follow up, and no serious adverse events were reported. Patients reported a high degree of satisfaction, excellent cosmetic outcomes, and improved quality of life post-cryoablation.
IceCure’s in-country distribution partner, Terumo Corporation, is expected to file for regulatory clearance of ProSense® for breast cancer in Japan later in 2024. Terumo Corporation owns the exclusive distribution rights for ProSense® in Japan for a 5-year term following regulatory approval. In exchange for exclusive distribution rights, IceCure is expected to receive a total of $13.2 million in proceeds from Terumo during this initial term. It has received $4 million to date, with an additional $8.2 million expected upon the completion of orders, as well as $1 million expected for milestone-based payments.
The study’s investigator, Dr. Hisanori Kawamoto said, “This is a very important study in Japan, where we are experiencing an upward trend in breast cancer cases, especially among women in their late 40s to early 60s. These are women who often are at very active stages of their life and therefore there is a growing demand for treatment options that minimize the chance of or avoid hospitalization, in addition to resulting in favorable clinical and cosmetic outcomes. We are very pleased with these results and are hopeful that ProSense® may become a favored option in Japan upon regulatory approval for early-stage breast cancer.”
About IceCure Medical
IceCure Medical (Nasdaq: ICCM) develops and markets ProSense®, an advanced liquid-nitrogen-based cryoablation therapy for the treatment of tumors (benign and cancerous) by freezing, with the primary focus areas being breast, kidney, bone and lung cancer. Its minimally invasive technology is a safe and effective alternative to hospital surgical tumor removal that is easily performed in a relatively short procedure. The system is marketed and sold worldwide for the indications cleared and approved to date including in the U.S., Europe, and China.
