ICCM News & Events

IceCure Medical files to sell 16M ordinary share for holders

IceCure Medical announced that it has entered into securities purchase agreements with healthcare focused institutional investors for the purchase and sale of 8M ordinary shares at a purchase price of 50c per share in a registered direct offering. The gross proceeds from the offering are expected to be approximately $4M, before deducting placement agent fees and other offering expenses. In addition, in a concurrent private placement, IceCure will issue and sell unregistered Series B warrants to purchase up to 8M ordinary shares and Series C warrants to purchase up to 8M ordinary shares. The Warrants will have an exercise price of 55c per share and will be exercisable immediately upon issuance. The Series B Warrants will expire five years following the date of issuance and the Series C Warrants will expire one year following the date of issuance. The closing of the offering is expected to occur on or about March 27, subject to the satisfaction of customary closing conditions. A.G.P./Alliance Global Partners is acting as the sole placement agent for the offering.

IceCure Medical announced positive top-line results from its ICESECRET clinical trial of ProSense for the treatment of small renal masses, or SRMs, in kidney cancer patients. A total of 114 patients were enrolled in the study, of whom 112 were evaluated at a median follow-up of four years. The study demonstrated that 83.9% of patients were recurrence-free at this median follow-up period. Among these patients, 12 underwent a second cryoablation procedure at a mean of 1.73+/-1.2 years. In a subgroup of patients with tumors less than or equal to3 cm, no prior kidney cancer, and successful initial procedures, the recurrence-free rate reached 89.4%. More detailed data from the study will be presented by Principal Investigator Prof. Halahmi Sarel at the European Conference on Interventional Oncology ("ECIO"), which will take place form April 26 to 30 in Basel, Switzerland. SRMs are increasingly detected due to increased imaging and represent a growing clinical challenge, particularly among elderly patients and those with comorbidities who are not suitable candidates for surgery. Minimally invasive, nephron-sparing treatment options that preserve kidney function, while effectively controlling tumors, are critically needed.

IceCure Medical appointed Meir Peleg as its CFO, effective May 17. Meir Peleg combines a software engineering background with over 20 years of financial leadership, having previously served as a strategic partner to CEOs and boards. In addition, IceCure plans to appoint Richard Fine in Q2 as the company's Medical Director to lead breast indications. Fine is a breast surgical oncologist and Director of the Breast Program at the Margaret West Comprehensive Breast Center at West Cancer Center & Research Institute in Germantown, Tennessee. The company has initiated a search for a new Chief Technology Officer. Naum Muchnik, IceCure's VP of R&D and Engineering, will be departing his role effective April 12.