The board of directors of
The cash balance in FRISQ will primarily be used to expand and support the network of distributors to accelerate sales of existing products by deeper penetration in already established markets like Scandinavia,
Another part of the funds will be used to accelerate and strengthen new distribution channels and development of new applications such as nasal filtration and slow release of substances. The NOSA technology platform is already used for allergy/pollen nasal filters and the potential is to reach a meaningful share of the 30% of the population that suffer from breathing allergies. The NOSA technology platform also has the potential to be attractive for nasal slow release of medications. There is a strong interest from pharmaceutical companies to develop ways to deliver certain medications through slow intra nasal release since it is considered to be one of the most effective delivery methods to get the medications into the blood stream of humans.
More detailed information about NOSA will be provided well in advance of the EGM in 2023.
About NOSA:
NOSA is company with a proven, proprietary, and patented nasal protection and substance delivery technology platform.
The company was founded in 2011 and has since 2016 a commercial product based on a unique technology that enable a very broad range of nasal protection and substance delivery. The initial application of the product platform has been to eliminate bad odor (NOSA plugs) and recently been broadened to also include allergy protection (Allergy filter) and virus and bacteria (Microbial control). NOSA currently sell primarily via distributors in 12 countries (including
NOSA has so far only scratched the surface of the markets for its product where it is already having a foothold. For example, in
The market potential for this unique nasal protection and substance delivery platform is enormous. For example, the NOSA market for odor protection control in healthcare and law enforcement applications alone is estimated to be worth at least
In addition, there is a large market potential for a broader set of nasal substance slow-release products were the NOSA product platform offers a unique benefit. These opportunities include medical substance slow-release products as well as products for treating patients that have suffered severe loss of smell (approximately 5 % of the population suffer from loss of smell annualy).
NOSA currently experience very limited competition of comparable products. The patents in major markets in
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