New CEO at LIKVOR AB
LIKVOR AB moves towards the international market for
treatable dementia with a new CEO and a fresh injection of
capital
LIKVOR AB, a LinkMed portfolio company, takes an important step
towards international market entry of the company's patented LIKVOR
CELDA® SYSTEM. The system which helps to restore normal
life back to millions of dementia patients has generated great
interest. A new share emission of 7 million Swedish kronor has
strengthened LIKVOR's financial position. Maria Wallin
Wållberg takes over as new CEO of the company.
Statistics show that 1 in 10 dementia patients suffer from an
undiagnosed or misdiagnosed condition known as treatable or
reversible dementia (NPH - normal pressure hydrocephalus). The
symptoms of NPH commonly include difficulty in walking, urinary
incontinence, and mild dementia. The condition generally manifests
in over 55 year-olds. In contrast to dementia, NPH can be treated
by means of a simple operation to give sufferers a completely new
lease on life. Studies indicate that approximately 1.4 million
patients in Europe, USA and Japan suffer from NPH.
"Accurate diagnosis is the key to correct treatment of NPH and
we have the answer. It's about making huge savings in terms of
human suffering but also addressing an extremely large market"
reports Kjell Öberg, the departing CEO of LIKVOR AB. Kjell Öberg,
having completed his mandate for the company, leaves his post at
LIKVOR to take on other consultancy projects.
LIKVOR CELDA® SYSTEM is being successfully used in
leading neurological clinics in Sweden, Denmark and Finland. The
next stage is to introduce the system to the estimated 900 clinics
in Europe, followed by market entry in USA.
The share emission of 6 million and a convertible loan of 1
million Swedish kronor respectively, strengthen LIKVOR's position
to effect an international market entry. Investors are Stimor
Invest and Partnerinvest Norr, with Norrlandsfonden providing the
convertible loan.
The company is entering a new stage of development, marked by
the departure of Kjell Öberg after taking LIKVOR through its early
establishment phase and present handover to incoming CEO Maria
Wallin Wållberg. Maria moves to LIKVOR from her post as regional
director and vice CEO at Innovationsbron AB.
"I am looking forward to the exciting challenges we face" says
Maria Wallin Wållberg. "LIKVOR is a fantastic company that can
contribute to making the world a better place whilst also offering
great financial potential."
For further information about LIKVOR and the LIKVOR
CELDA® SYSTEM, visit www.likvor.com
or:
Please contact:
Kjell Öberg: +46 (0)70 640 14 92, kjell.oberg@likvor.com
or
Maria Wallin Wållberg: +46 (0)70 588 6766, maria.wallinwallberg@likvor.com