Viromed Medical AG, a medical technology company specializing in cold plasma technology, has taken a significant step in its international expansion by signing distribution partnerships for its ViroCAP® product in six new markets. The agreements cover Spain, Portugal, Greece, the Balkan region, Romania, and Saudi Arabia, and were concluded with six separate companies, each responsible for an individual market. These partnerships include minimum purchase quantities, and based on the contracts, Viromed expects additional sales of at least 3,000 devices per year.
ViroCAP® is a mobile medical device designed for the treatment of skin conditions using cold atmospheric plasma. It is intended for use in hospitals, by physicians in private practice, and by surgically active medical specialists. The device represents a pioneering application of cold plasma technology in medicine, offering a non-invasive treatment option.
Uwe Perbandt, Chief Executive Officer of Viromed Medical AG, commented on the development: "With these new distribution partners, we are opening up several attractive markets in Southern and South-Eastern Europe as well as in the Middle East. The strong interest shown by our distribution partners underlines the high demand for our cold plasma technology. The new distribution partnerships are another important step in the implementation of our dynamic growth phase. Partnerships for additional countries are in preparation and are expected to be signed within the next four to six weeks."
This expansion builds on Viromed's existing international network, which already includes an exclusive distribution agreement with the Korean company UMECO covering ten Asian countries, and a partnership with TriPart TITAN GmbH & Co. KG for the Turkish market. The company's strategy is to broaden its footprint in key regions, leveraging the growing acceptance of cold plasma therapy in dermatology and other medical fields.
The significance of these new agreements lies in the company's ability to penetrate diverse markets with varying healthcare demands. Southern and South-Eastern Europe, along with the Middle East, represent regions with increasing adoption of advanced medical technologies. By securing distribution partners with local expertise, Viromed can navigate regulatory landscapes and market entry barriers more effectively, ensuring that ViroCAP® reaches healthcare providers who can benefit from its capabilities.
Moreover, the expected minimum sales volumes indicate strong confidence in the product's performance and market potential. This revenue stream will contribute to Viromed's growth trajectory, supporting further research and development, and potentially expanding its product portfolio. The company, listed on the stock exchange since October 2022, operates through its wholly owned subsidiary Viromed Medical GmbH, which focuses on the distribution of innovative cold plasma technology.
Viromed's commitment to advancing cold plasma technology in medicine is evident in its strategic partnerships. The company aims to realize significant growth by addressing unmet medical needs in skin treatment, offering a safe and effective alternative to conventional methods. As new partnerships are anticipated within the coming weeks, Viromed is poised to strengthen its position as a leader in this niche but rapidly evolving field.
