Likvor AB moves towards the international market for treatable dementia with a new CEO and a fresh injection of capital.
Likvor AB moves towards the international market for treatable dementia with a new CEO and a fresh injection of capital. Likvor AB, a LinkMed portfolio company, takes an important step towards international market entry of the company's patented Likvor CELDA® System. The system which helps to restore normal life back to millions of dementia patients has generated great interest. A new share emission of 7 million Swedish kronor has strengthened Likvor's financial position. Maria Wallin Wållberg takes over as new CEO of the company. Statistics show that 1 in 10 dementia patients suffer from an undiagnosed or misdiagnosed condition known as treatable or reversible dementia (NPH – normal pressure hydrocephalus). The symptoms of NPH commonly include difficulty in walking, urinary incontinence, and mild dementia. The condition generally manifests in over 55 year-olds. In contrast to dementia, NPH can be treated by means of a simple operation to give sufferers a completely new lease on life. Studies indicate that approximately 1.4 million patients in Europe, USA and Japan suffer from NPH. "Accurate diagnosis is the key to correct treatment of NPH and we have the answer. It's about making huge savings in terms of human suffering but also addressing an extremely large market" reports Kjell Öberg, the departing CEO of Likvor AB. Kjell Öberg, having completed his mandate for the company, leaves his post at Likvor to take on other consultancy projects. Likvor CELDA® System is being successfully used in leading neurological clinics in Sweden, Denmark and Finland. The next stage is to introduce the system to the estimated 900 clinics in Europe, followed by market entry in USA. The share emission of 6 million and a convertible loan of 1 million Swedish kronor respectively, strengthen Likvor's position to effect an international market entry. Investors are Stimor Invest and Partnerinvest Norr, with Norrlandsfonden providing the convertible loan. The company is entering a new stage of development, marked by the departure of Kjell Öberg after taking Likvor through its early establishment phase and present handover to incoming CEO Maria Wallin Wållberg. Maria moves to Likvor from her post as regional director and vice CEO at Innovationsbron AB. "I am looking forward to the exciting challenges we face" says Maria Wallin Wållberg. "Likvor is a fantastic company that can contribute to making the world a better place whilst also offering great financial potential." For further information about Likvor and the Likvor CELDA® System, visit www.likvor.com or: Please contact: Kjell Öberg: +46 (0)70 640 14 92, kjell.oberg@likvor.com or Maria Wallin Wållberg: +46 (0)70 588 6766, maria.wallinwallberg@likvor.com
