Today, pain relief is often given intravenously, which can be difficult for staff to handle. and painful for the child in need of pain relief. Cessatech's spray is intended to be used in hospitals for acute pain and in connection with medical procedures.
The founders of the company are Bettina Nygaard Nielsen and Steen Henneberg and Cessatech was started to commercialize research from their workplace Rigshospitalet.
- The biggest advantage of our solution is of course that we do not expose children to unnecessary pain. It can be painful to give anesthesia through the vein on the arm and it can also be difficult. Our product is as effective as existing alternatives, but you do not have to expose a child who is already in pain to further pain, says Jes Trygved, CEO of Cessatech.
When the company got its development plan approved by the European Medicines Agency, EMA, the management realized that it could become a business model to develop different products for children. That was not the plan from the beginning.
- Right now, however, we are focusing on the nasal spray, getting everything ready and preparing for registration. We look at potential partners and expansion opportunities geographically. To begin with, the focus is on the European market, but there are many interesting opportunities in the future.
The nasal spray has so far been used at Rigshospitalet in Copenhagen and at Karolinska University Hospital in Stockholm. Cessatech focuses on the importance of conducting thorough clinical studies which makes the registration process runs smoothly.
- We have built up a strong team and have a very interesting board, which will help us on our growth journey, states Jes Trygved.
The market for nasal spray is estimated to become substantial, however it´s difficult to estimate how large it can become since there is a low number of statistics concerning children. The company's goal is a market share of between 20-40 percent and there are no competitors with the same solution on the market today.
- We have noticed that there is a greater public interest in our product than we thought when we started the company. It's a simple story to communicate and that made us start thinking about a stock market listing.
The company was listed in 2020 and Jes Trygved is satisfied with both the decision and the listing process.
- The team at Spotlight is very professional and we received good guidance. It is difficult to know what is required when you have not done it before, even if a lot is common sense. For us, it was a fantastic experience and I would definitely recommend others to list their companies on a stock exchange.
Cessatech has gone from being a product at Rikshospitalet to becoming a listed company.
- In one year, we have done what other companies do in five. The fact that we are now on the stock market has meant that we are much more committed to reaching our milestones. It has accelerated the company's development process.
The capital raised in the issue in connection with the listing will be used to initiate the last clinical studies before the launch. Also, to professionalize the company and get the right team in place.
- It is very important and more challenging than I thought it would be. As we are a small team, each person's skills are very important. It is absolutely crucial and we are well on our way.
- Start year: April 2020
- Business: Pharmaceutical company that develops pain relief solutions for children.
- CEO: Jes Trygved
- Number of employees: 5
- Listing: December 2020