The UK Intellectual Property Office granted 2nd of March 2016 the UK patent for Luer-Jack Lock. The patent is the frontrunner for similar filed applications (pending) in all important markets world wide and is a fundamental member of the Luer-Jack patent family, ensuring a very simple one-hand operated release of connections for different fluid transfer applications.

Luer-Jack Lock is a syringe with a threaded locking interface, and where the release of the threaded locking is done using a very simple trigger action.

This will protect the concept of safeguarding high pressure fluid applications, as well as ensuring a very simple one-hand operated release of the connection for different fluid transfer applications.

One-hand release of connections safeguards against accidental contamination of micro critical aseptic parts and facilitates disconnection of contaminated sharps using only one hand. And the concept is compatible with the good, old and omnipresent Luer Slip and Luer Lock connections.

Luer-Jack market entry world wide

ConceptoMed already holds the patent for Luer-Jack Slip and IP protection for both Slip and Lock applications will further fuel the market introduction of Luer-Jack in all markets world wide.

– Obviously, there are some historical implications in this grant. An extremely important luer lock connection concept just got even better. Twisting off tight connections with two-hand operation is quite different from one-hand trigger action – furthermore maintaining full compatibility with the more-than-a-century old luer standard. The Luer-Jack technology may be applied to any friction fit, screw fit connections. Medical is only one such area of application of the technology, where our IP provides coverage. Syringes with Luer-Jack is only the start, says CEO and M.D. Christian Mide.

ConceptoMed is committed to pursuing global distribution, and to offer an innovative addition to the traditional medical disposable syringe worldwide, and are now searching for additional eager-to-grow distribution partners worldwide.

Background

The 6% taper friction fit (luer) connection is the most common connector type used in medical settings. Tapered fittings ensure tight connections by allowing female hubs to bond with male tips by friction fit. The simple design creates a strong hold. It was invented in the 1890’s and has been used predominantly in medical settings for over a century.

In 1930, the Luer Lock patent was granted to Mr. Fairleigh Dickinson (founder of Becton, Dickinson & Company) and comprises a combination of the taper friction tip with an internally threaded collar surrounding the tapered tip – to prevent accidental disengagement when used in high pressure applications.

Both traditional luer slip and luer lock applications are disengaged using two hands for the operation – with fingers in close proximity with critical aseptic parts and sharp objects of medical procedures.

The Board of Directors of ConceptoMed AS announce the final completion of the successful private placement of equity in ConceptoMed AS for the period January-February 2016. The placement round was oversubscribed.

ConceptoMed have been granted CE mark approval for Luer-Jack, launched the product in Europe, and so far announced exclusive distribution agreements for 11 countries in Europe and the Middle East Region.

Gross proceeds from the January-February 2016 private placement rounds amounts to NOK 100 Million (€10,4 Million), whereof approx. NOK 26 Million were subscribed by existing shareholders.

This private placement will finance the global market introduction and further growth.

ConceptoMed is committed to pursue global distribution, and to offer an innovative addition to the traditional medical disposable syringe worldwide. We are now searching for additional eager-to-grow distribution partners worldwide.

ConceptoMed today announced that the company has received CE Mark approval for the Luer-Jack^® syringe, a new and innovative medical syringe. Luer-Jack^® is now ready for the European market and other large markets, where the CE mark allows for market entry.

“Receiving the CE mark for Luer-Jack^® follows a substantial company effort to safeguard all processes related to putting a Medical Device syringe on the market. The CE mark represents another very important milestone for ConceptoMed. We look forward to shipping the first orders of Luer-Jack^® to our distributors. The company is now applying for an FDA approval to open up the vast potential in the US market”, said CEO M.D. Christian Mide.

In September and October 2015, ConceptoMed announced Luer-Jack^® distribution agreements for the United Kingdom, Norway and 9 other countries, and are looking forward to announcing new international distribution agreements in the near future.

About Luer-Jack^®

Luer-Jack^® will become an important contribution in the struggle for improving procedure quality and safety, as well as ensuring aseptic procedures when handling syringes and needles – thus reducing probability of human error during the disconnection. Current syringes and needles on the market are delivered sterile, in very simple packaging – and it is not obvious that the method of opening the package safeguards sterility during actual use in patient treatment.

A key element of the next-generation medical syringe Luer-Jack^® is the development away from using two hands during disconnections. Health authorities and medical professionals now have the option of using medical disposables with integrated safety logic – both on the medical device itself, as well as the package design.

From June 2014 to July 2015, The Norwegian Research Council (VRI) supported an evaluation research study on Luer-Jack^®, a new medical syringe with one-hand disconnection from needles/cannulas and luer type connections. The Intervention Centre of Oslo University Hospital has conducted the study, and the final report was submitted to ConceptoMed today, 1^st of September 2015.

Demonstration of one of the application areas for Luer-Jack® – from the final report of concept study, submitted on 1st of September 2015 at The Intervention Centre, Oslo University Hospital, Norway.

A main finding in the report is the demonstrated potential of Luer-Jack to improve quality and patient safety in a large number of medical procedures:

• The Luer-Jack^®-technology may reduce up to 50% the contamination of syringe tip, needle/catheter hub and needle-less connections, in particular in repeated use situations.
• Needle-stick safety is substantially increased through disconnection of sharps with only one hand.
• Luer-Jack^® improves positioning of long needles/catheters in ultrasound guided procedures for several medical specialities – e.g. rheumatology, interventional radiology and anaesthesia – as well as other application areas.

– The findings in the study have been obtained by focus group interviews of medical specialists – both specialists and nurses in different medical areas. We are happy with the constructive process for the execution of the project. The findings from the study demonstrate the importance of user involvement in design processes. There is obvious room for improvement of existing, relatively straightforward and simple, disposable medical equipment. Some improvements, e.g. the Luer-Jack^®, may represent high value in the struggle for increased patient safety and user safety. Syringe and needle procedures are executed in extremely high numbers throughout all healthcare services globally, says Karl Øyri, Project Leader, Section for Method Development and Industrial Collaboration, The Intervention Centre, Oslo university Hospital.

Luer-Jack^® may become an important contribution for the struggle of improving procedure quality, safety and ensuring aseptic procedures when handling syringes and needles – and thus reduce probability of human error during the disconnection. Current syringes and needles on the market are delivered sterile, in very simple packaging – and it is not obvious that the method of opening the package safeguards sterility during actual use in patient treatment.

– A key element of Luer-Jack^® is the development away from using two hands during disconnections. Health authorities and medical professionals now have the option of using medical disposables with integrated safety logic – both on the medical device itself, as well as the package design. We are very happy with the research service from the Intervention Centre, and the parthership with our design team at K8 Industridesign in Oslo. The findings from the current study demonstrate the importance of user-centered design to mitigate risk and meet the challenges of healthcare services of the future, says Christian Mide, M.D. and CEO of ConceptoMed AS.

The Intervention Centre of Oslo University Hospital have established a formal service structure to deliver testbed and research services for National and International life science industry www.ivs.no/testbed

Oslo Medtech administers life science ”VRI funding” from the Norwegian Research Council, Oslo municipality and Akershus Fykeskommune. R&D funding is allocated to companies developing new products and services within healthcare.

ConceptoMed is pleased to announce that it has reached a supply agreement with Becton, Dickinson & Company (BD) – a leading global medical technology company. ConceptoMed will use the different BD syringes in their production of Luer-Jack^® – the new generation of medical syringes.

The syringes from BD meet all requirements for upcoming CE- and FDA-approval. ConceptoMed expect to launch Luer-Jack^® into European markets before year-end 2015. Luer-Jack^® will be commercialized as single packed units – and combined into different applicable custom procedure packs and procedure kits from manufacturers in selected clinical fields, where Luer-Jack^® will support Best Practice Procedures.

– A premium product like the Luer-Jack^® deserves to be supported by components of high quality and high reliability. BD is a worldwide trusted manufacturer of such high quality medical supplies, and the supply agreement is a sturdy step on the road to establishing Luer-Jack^® as a new generation of medical syringes, says CEO of ConceptoMed, Christian Mide.

Luer-Jack^® from ConceptoMed is fully compatible with the female “luer slip” and “luer lock” global standard for medical syringes and connections. The patent protected and revolutionary Luer-Jack^® is unique, providing Precise Disconnection Power PDP™.

Luer-Jack^® PDP™ represents advantages for patients and healthcare professionals in many ways:

• Prevention of needlestick injuries through OneHand non-recapping needle procedures
• Aseptic healthcare services by reducing risk of cross-contamination of micro critical aseptic parts
• Increased operator control and patient safety during needle and catheter placement procedures

The Intellectual Property Office in the United Kingdom has granted approval for a second family of patents surrounding the Luer-Jack^® technology. The patent was published on the 27^th of May 2015 and is ConceptoMed’s third granted patent in a large and growing patent family.

Luer-Jack^® – the New Generation of Luer Medical Syringes

Luer-Jack^® is fully compatible with the traditional “luer” and “luer lock” standard for medical syringes and connections. The revolutionary Luer-Jack^® is unique through the provision of Precise Disconnection Power PDP™.

PDP™ represents advantages in many ways:

• Prevention of needlestick injuries through OneHand non-recapping needle procedures
• Aseptic healthcare services by reducing risk of cross-contamination of micro critical aseptic parts of billions of procedures in the healthcare space
• Increased operator control and patient safety during needle and catheter procedures

– The second UK patent granted for Luer-Jack™ fits perfectly into the master plan of IP processes being executed around Luer-Jack^®. Our family of soon 30 patents is growing rapidly and will support partnerships and optimization of product portfolios around the Luer Connection of the 21^st century, says CEO Christian Mide.

The Board of Directors of ConceptoMed AS have the pleasure of announcing the successful completion of a private placement of equity in ConceptoMed AS. Following the share issue, the number of Shareholders in the company amounts to 35 (previously 34). Gross proceeds from the private placement amounts to NOK 9.5 Million (€1.05 Million).

On Monday 19th of January 2015, Runar Bjørklund, shareholder in ConceptoMed AS and former CFO of Nycomed, was appointed new Chairman of the Board. Runar Bjørklund keeps bringing extensive pharma- and financial market experience to the team.

– We are very pleased with the appointment of Runar Bjørklund as new Chairman of the Board, as well as with the participation in this private placement. The team is also very grateful for the extensive contribution which Sverre Christoffersen has made in his role as Chairman of the Board. Mr. Christoffersen will continue as Director on the Board of the company, says CEO Christian Mide.

ConceptoMed AS stands before an exciting international development of both Luer-Jack ™ and ConceptoShield ™.

The share issue values ConceptoMed AS at NOK 100.8 million (€11 Million).

The Board of Directors of ConceptoMed AS
have the pleasure of announcing the successful completion of a private
placement of equity in ConceptoMed AS. The share issue was oversubscribed and
provided the company with 12 new shareholders. Gross proceeds from the private
placement amounted to NOK 11,550,000 (€1.42 Million)

– We are pleased to note the considerable
interest in the recently concluded placement in ConceptoMed AS, says CEO
Christian Mide.

– In addition to many of the existing
shareholders having made use of the opportunity to increase their share of the
company, 12 new shareholders have been added to the owner base, says Chairman
Sverre Christoffersen. The new shareholders provide the company with a strong
owner base with relevant background – which will be involved in lifting the
company’s activities in future efforts.

ConceptoMed AS has already met considerable
interest in the market, and stands before an exciting international development
of both Luer-Jack ™ and ConceptoShield ™.

The share issue values ConceptoMed AS at
NOK 86.5 million (€10.6 Million).

The
Intellectual Property Office in the United Kingdom has granted approval for a
UK Patent for fluid transfer devices (Luer-Jack™). The patent is ConceptoMed’s
first granted patent and will be applied to other products in development.

Luer-Jack™ – a unique
medical syringe

Luer-Jack™ is a unique
medical syringe, which significantly increases control of the syringe and
needles during disconnections. Standardizing disconnections, patient outcomes from
procedures involving needle shift, will be less dependent on operator
experience and proficiency.

OneHand

OneHand functionality for
Luer-Jack™ will increase patient safety and comfort during disconnections – as
well as being timesaving for the procedures.

Single-handed disposal with
non-recapping of needles also represents enhancement to operator safety.

The “luer slip” standard
for connections was established more than 100 years ago. Luer-Jack™ is based on
the same “luer-slip” standard, but represents a fundamentally new approach to
dealing with inadequate operator control during disconnection of syringes from
female hubs.

– The UK national patent grant for Luer-Jack™
fits perfectly into the master plan for the IP processes being executed around
Luer-Jack™. The patent grant is important for the further development,
industrialization and market introduction of Luer-Jack™, says CEO Christian
Mide.

The Board of ConceptoMed AS is pleased to announce the successful completion of a non-public offering. Gross proceeds from the Private Placement amount to NOK 5,005,000. The placement values the company at NOK 25 million.

The process was opened at 18.00 CET Thursday 11 April 2013 and was completed at 15.00 CET Tuesday 16 April 2013. The company aquired 18 new shareholders, whereof 7 have a background from clinical medical work.

CEO Christian Mide is  pleased with the strong interest for a participation in the placement:
– Every investor that was introduced to our business case has become a new Shareholder in ConceptoMed AS. The potential to transform a segment of the market for certain disposable products has been confirmed by the firm response in this placement process. Following the completion of the placement, the expanded ConceptoTeam may now focus on securing a further successful development of the company. I am looking forward to creating further value for all our shareholders.