Full Press Release Details
IceCure Receives Notice of Allowance from U.S.
Patent and Trademark Office for its Next-Generation Cryoablation System
Innovative cryogenic system connector technology
designed to improve usability and maintain the integrity of cryogen used in the cryoablation procedure
CAESAREA, Israel, October 21, 2024 -
IceCure Medical Ltd. (Nasdaq: ICCM) ("IceCure", "IceCure Medical" or the "Company"), developer of
minimally-invasive cryoablation technology that destroys tumors by freezing as an alternative to surgical tumor removal, today announced
it has received a Notice of Allowance for its invention titled "Cryogenic System Connector" from the U.S. Patent and Trademark
Office. This is the first global patent issued for the cryogenic system connector, a key component of IceCure's next-generation
liquid nitrogen-based XSense cryoablation system. Several other patent applications for this technology are pending in key markets.
XSense and its cryoprobes, which have
U.S. Food and Drug Administration clearance for all of the indications for which IceCure's flagship ProSense has
already received clearance, has the potential to address additional indications and significant unmet needs in the global tumor ablation
market, estimated at $1.67 billion in 2023 according to Grand View Research.
"With a patent portfolio of over 50 issued
patents and the development of our next-generation systems, we continue to be an innovation leader in the cryoablation space. We are committed
to fortifying our intellectual property assets as our cryoablation systems gain commercial traction worldwide," stated IceCure's
About IceCure Medical
IceCure Medical (Nasdaq: ICCM) develops and markets
advanced liquid-nitrogen-based cryoablation therapy systems 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 Company's flagship ProSense
system is marketed and sold worldwide for the indications cleared and approved to date including in the U.S., Europe and China.
Forward Looking Statements
This press 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 statements in this press release when it discusses: the potential for the Company's
products to address additional indications and significant unmet needs in the global tumor ablation market; and the Company's commitment
to fortifying its intellectual property assets as its cryoablation systems gain commercial traction worldwide. Historical results of scientific
research and clinical and preclinical trials do not guarantee that the conclusions of future research or trials will suggest identical
or even similar conclusions. Important factors that could cause actual results, developments and business decisions to differ materially
from those anticipated in these forward-looking statements include, among others: the Company's planned level of revenues and capital
expenditures; the Company's available cash and its ability to obtain additional funding; the Company's ability to market and sell its
products; legal and regulatory developments in the United States and other countries; the Company's ability to maintain its relationships
with suppliers, distributors and other partners; the Company's ability to maintain or protect the validity of its patents and other intellectual
property; the Company's ability to expose and educate medical professionals about its products; political, economic and military instability
in the Middle East, specifically in Israel; as well as those factors set forth in the Risk Factors section of the Company's Annual Report
on Form 20-F for the year ended December 31, 2023 filed with the SEC on April 3, 2024, and other documents filed with or furnished to
the SEC which 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.