FREE FOR PUBLICATION 17.01.2022
The Finnish smart needle company Injeq Oy has signed a significant distributor contract with the German company Ecumed GmbH. The agreement gives Injeq access to the EU’s largest market Germany.
The Finnish medical technology company Injeq has started the sales of the IQ-Tip® smart needle in Germany. The distributor contract with the German company Ecumed GmbH gives Injeq access to the largest market in the EU. The German medical technology market covers about 25% of the total EU market.
The aim of the IQ-Tip® smart needle is to improve patient safety in lumbar punctures, where spinal fluid is sampled, or when drugs are administered into the spinal cavity. The smart needle tells you in real time when the tip of the needle reaches the cerebrospinal fluid, increasing the likelihood of a successful puncture. The technology utilizes tissue bioimpedance, i.e., tissue analysis and identification using an electric current.
“This is a very important step in commercializing the Injeq IQ-Tip® smart needle in line with our strategy. Our goal is to make distributor agreements with several EU countries this year. In Europe, we will first focus on children’s lumbar punctures and then advance to adult lumbar punctures and thus to a wider group of users”, says Injeq’s Chairman and Acting CEO Tommi Rasila.
“In a short time, the Injeq IQ-Tip® smart needle has drawn the attention of important German clinics. We are very pleased to be Injeq’s partner in Germany. German doctors think that IQ-Tip® smart needle is a great invention” says Florian Holderer, Managing Director of Ecumed GmbH.
In December, the IQ-Tip® smart needle received CE certification from the EU’s notified body, TÜV SÜD Product Service GmbH. This enables the devices to be sold in EU countries. The global market for special needles is projected to grow from approximately $ 9.5 billion (2020) to $ 16.9 billion by 2027. The estimated annual growth is 8.5 percent.
For further information, please contact:
Chairman of the Board, Acting CEO, Tommi Rasila, D.Sc.
tel. 040 750 8158
Managing Director Florian Holderer
tel. + 49 761 610 433 65
Injeq in brief
Injeq Oy is a Finnish growth company in innovative medical technology, whose mission is to produce technically intelligent solutions for medically demanding patient injections. Developed at the request of physicians, the IQ-Tip® smart needle facilitates physicians’ work to improve patient safety and treatment effectiveness.
The IQ-Tip® smart needle is a modern way to perform demanding patient injections safely. The first stage is lumbar puncture, a clinical procedure in which the spinal fluid is sampled or a drug is administered into the spinal cavity. The clinical performance and safety of the product at lumbar punctures have been evaluated in three clinical trials in Finnish university hospitals. The smart needle is suitable for lumbar puncture from newborns to the elderly, one of the main uses being for the treatment of leukemia children.
Founded in 2010, Injeq operates in Tampere and currently employs 16 people. Injeq is supported by an experienced team of medical experts and extensive scientific research. IQ-Tip® is a registered trademark of Injeq.