Full Press Release Details
CEO Issues Letter to Shareholders
CAESAREA, Israel, January 5th, 2022 -- IceCure Medical
Ltd. (NASDAQ: ICCM) (TASE: ICCM) ("IceCure" or the "Company"), developer of minimally-invasive cryoablation technology,
the ProSense System, that destroys tumors by freezing as an alternative to surgical tumor removal, today released the
following letter to shareholders from its Chief Executive Officer, Eyal Shamir.
As we enter the new year, I wanted to provide our shareholders with
an update regarding our 2021 achievements and to outline key business objectives for 2022.
We are pleased with the progress of the ICE3 clinical trial to date
and are encouraged by excellent patient and physician feedback. Notably, we announced positive interim results from our ICE3 trial at
the American Society of Breast Surgeons, or "ASBrS," and the Radiological Society of North America, or "RSNA,"
conferences, demonstrating the efficacy and safety of minimally invasive cryoablation using the ProSense system. Additionally, positive
results from an independent study in Japan using the ProSense system were published, further validating the use of our system to eliminate
small tumors in breast cancer. We have also made important progress on the development of our next-generation system, which will allow
for additional clinical applications with cryoablation technology. Further, the European Patent Office notification of an intention to
grant a patent for our cryogenic pump will enable ongoing development of our next-generation cryoablation systems and is a step towards
expansion to further clinical applications.
We have transitioned from R&D to commercialization in the U.S.,
Europe, and Asia and are continuing to advance our regulatory and commercial strategies within the world's largest oncology markets.
We have expanded our global distribution network. We have also listed our shares on the Nasdaq following a private placement of $15 million
early in the year, and later raised additional $17 million in an underwritten offering in a much higher enterprise valuation. We are now,
well-financed to continue this momentum and accelerate our business. This steady growth is on account of our loyal shareholders who have
supported us and provided us with the opportunity to raise additional capital, in a challenging market environment. We are immensely grateful
to our major shareholders for their trust and continued support. We realize it has been a controversial time to access the capital markets,
but growth and opportunity are at the forefront of our mission at IceCure. As we focus on the larger mission to help patients that can
benefit from our innovative technology, we will meet our obligation to fund the company independent of day-to-day market activity.
I have immense appreciation for our team and their continued efforts
to bring the ProSense system to patients, setting new standards in tumor therapy. In addition to breast cancer, we are also making strides
to apply our technology to kidney, liver, lung and bone cancers. We have also grown our employee base, with a particular focus on building
out our R&D team and hired a VP of Human Resources to support our expansion.
I am excited by the Company's list of accomplishments in 2021,
highlighted below, and look forward to continued success in 2022.
2021 Key Achievements
Research (Clinical and Development)
Single & Multi-probe systems
2021 was a pivotal year for Ice Cure. We look forward to further advancing
our commercial and clinical activities in 2022 towards our mission to become the new gold-standard for cryoablation tumor therapy. We
are focused on the long-term potential of the company and the broad potential of our minimally-invasive cryoablation technology, validated
by our many accomplishments in 2021 and prospective events in the coming year.
We thank each of our shareholders, and value you for your continued
Chief Executive Officer
Founded in 2006, Israel-based
IceCure Medical (NASDAQ: ICCM) (TASE: 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 approved to-date by FDA and the European CE
release contains forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities
Litigation Reform Act of 1995 and other Federal securities laws. Words such as "expects," "anticipates," "intends,"
"plans," "believes," "seeks," "estimates" and similar expressions or variations of such
words are intended to identify forward-looking statements. For example, IceCure is using forward looking statement in this press release
when it discusses its plans, intentions and focuses for year 2022. Because such statements deal with future events and are based on IceCure's
current expectations, they are subject to various risks and uncertainties and actual results, performance, or achievements of IceCure
could differ materially from those described in or implied by the statements in this press release. The forward-looking statements contained
or implied in this press release are subject to other risks and uncertainties, many of which are beyond the control of the Company, including
those set forth in the Risk Factors section of the Company's Registration Statement on Form F-1 filed with the SEC on December 8, 2021.
Copies are available on the SEC's website, www.sec.gov. The Company undertakes no obligation to update these statements for revisions
or changes after the date of this release, except as required by law.
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email: chuck@lifesciadvisors.com