Tridentify AB signs Letter of Intent with Intrance Medical Systems Inc regarding purchase and delivery of its SaaS based cold chain safeguarding service

GOTHENBURG, Sweden, April 27, 2023 /PRNewswire/ -- Tridentify AB has today signed a Letter of Intent (LOI) with Intrance Medical Systems regarding purchase and delivery of the Tridentify Tracer Solution.

The Seller (Tridentify AB) has developed an advanced SaaS and IoT system for the real time monitoring and continuous stability control of pharmaceuticals in the cold chain.

The Buyer (Intrance Medical Systems Inc) has developed a drug/device treatment system for patients suffering from Parkinson´s diseases in an advanced stage. The drug component is expected to be delivered internationally and need to be transported under refrigerated conditions.

The intended transaction involves the Seller providing the monitoring system as a fee for service, covering safeguarding services of shipments of the pharmaceutical products used in the Buyer´s clinical development program including clinics in the EU and the US.

Final commercial and legal terms will be negotiated in good faith with the mutual ambition to be completed by, at the latest September 1, 2023, unless both parties agree to an extension.

"Tridentify is delighted about the interest that Intrance Medical Systems has shown in our Tracer Solution. We are proud that Intrance is to become our first signed biomedical customer and that we will be able to support the development of a new Parkinson treatment in the US," says Johan Stormlund, CEO at Tridentify.

About Tridentify AB

Tridentify is a Swedish Software-as-a-Service MedTech company that helps customers control the entire supply chain and cold chain logistics for transfusion medicine blood, plasma and other temperature-sensitive goods. After further development work, we can now provide our unique system to the entire spectrum of sensitive and expensive biomedicine.

Our safeguarding Tracer System accurately measures temperature and condition, throughout the life cycle of biological and pharma products. Unlike all other solutions, the Tracer System^® is programmed to the exact specifications of the medicine. This gives it the ability to communicate the shelf life of the actual individual package it is attached to in real time.

With Tridentify's SaaS/IoT system, the costs of delivery audits are reduced. There is significantly less wastage and less destroyed biopharma. Our technology makes it safer and easier to comply with current and future legislation and medical requirements. Finally, and most importantly, we increase the safety for the patient who can trust that the Biopharma fulfills its function.

For more information, visit tridentify.com.

About Intrance Medical Systems Inc

Intrance Medical Systems, Inc., a subsidiary of Sweden-based Intrance Holdings AB, is a private biopharmaceutical company focused on the development and commercialization of its lead clinical product for the treatment of advanced Parkinson's disease in the U.S., Canada, South America, Japan and Taiwan.

For more information, visit intrancemedical.com.

For further information, please contact:

Johan Stormlund, CEO Tridentify
+46 734 122 668
johan.stormlund@tridentify.com

The following files are available for download: