Full Press Release Details
USPTO Grants Notice of Allowance for Additional
IceCure's Novel Cryogenic Pump Technology: Reinforces IceCure's
Global IP Leadership in Cryoablation Technologies
CAESAREA, Israel, August 28, 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 from the U.S. Patent and Trademark Office ("USPTO") for a continuation application based
on the Company's issued patent titled "Cryogen Pump". The original patent, which was also issued by the European Patent
Office and the Japan Patent Office, as well as the continuation, will be in effect until 2041.
"This new patent will support IceCure's
potential for increasing the number of indications, procedures and applications that can be performed with our next-generation industry-leading
platform cryoablation systems," stated IceCure Chief Executive Officer Eyal Shamir. "We believe that further fortifying our
cryoablation intellectual property ("IP") estate in the U.S. is well timed both with respect to the indications for which
we already have U.S. Food and Drug Administration ("FDA") approval as well as the FDA's decision on clearance for early-stage
breast cancer, the decision which we expect in the first quarter of next year."
IceCure's novel cryogenic pump is submersible
in liquid nitrogen, works in a closed circuit, improves the cooling rate during a procedure, and is designed to be used for multiple procedures
or longer duration procedures without the need to refill liquid nitrogen. Moreover, this pump enables the use of a wider range of cryoprobes
and catheters. The pump has been integrated into IceCure's next-generation XSense cryoablation system.
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 Company's leadership
in cryoablation technologies; IceCure's potential for expanding the number of indications, procedures and applications that can
be performed with the Company's next-generation industry-leading platform cryoablation systems; the FDA's decision on clearance
for early-stage breast cancer expected to be received in the first quarter of 2025; the potential benefits of the Company's novel
cryogenic pump; and the belief that fortifying IceCure's cryoablation IP estate in the U.S. is well timed. 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.