Medinice S.A., a GPW-listed medtech company included in the sWIG index, has extended the validity of the Letter of Intent concerning its CoolCryo project, signed earlier this year with a renowned international industry partner. The decision to extend the LoI until 30 June 2026 reflects the progress of ongoing discussions.
As a result, Medinice is now conducting two independent due diligence processes for CoolCryo. The company believes it is entering these stages with a significantly strengthened negotiating position, supported by growing international market interest in the project.
“The extension of the Letter of Intent is a natural stage in processes of this kind and confirms that discussions with the strategic partner are being conducted substantively and in line with the work schedule on both sides. CoolCryo is therefore now in the phase of two independent due diligence processes carried out by international industry players, which clearly strengthens its negotiating position and confirms market interest in the technology,” said Sanjeev Choudhary, CEO of Medinice S.A.
The company’s management board aims to develop a transaction structure that fully reflects the value of the CoolCryo technology and its international potential. The current market environment and the advanced stage of talks support further negotiations. However, processes of this type are by nature long-term and multi-stage, due both to the scale of medical projects and the complex decision-making procedures of global partners. In practice, this means months of technological, regulatory and business analyses conducted by international expert teams.
“Our goal remains to develop a solution that optimises the return on investment by leveraging the strong interest in and market value of the project through international commercialisation and long-term development,” added Sanjeev Choudhary.
The decision to extend the LoI reflects both progress in talks with the lead partner and the need to allow sufficient time for the analyses and regulatory, legal and business arrangements required to structure a potential transaction. In addition, several days ago the company announced the parallel launch of an independent due diligence process conducted by a large international industry player, naturally creating competition between potential buyers.
CoolCryo is Medinice’s proprietary cryoablation system designed for minimally invasive treatment of cardiac arrhythmias. Its purpose is to shorten procedure times, improve procedural safety and increase clinical effectiveness. The project fits into the global trend of developing modern cardiology therapies and is protected by broad patent coverage in key markets, including the United States and Europe.
In February 2026, the CoolCryo system received FDA clearance, becoming the first Polish class III cardiac surgery device admitted to the U.S. market. The company also strengthened its financial position by securing PLN 58 million from Nationale-Nederlanden, providing stable funding for further development and supporting commercialisation processes.
Medinice continues to pursue its strategy of building value through the development of innovative medical technologies and their global monetisation. The coming months will be crucial for further progress in negotiations and the potential finalisation of a transaction concerning CoolCryo.
