On October 21, 2024 IceCure Medical Ltd. (Nasdaq: ICCM) ("IceCure", "IceCure Medical" or the "Company"), developer of minimally-invasive cryoablation technology that destroys tumors by freezing as an alternative to surgical tumor removal, reported it has received a Notice of Allowance for its invention titled "Cryogenic System Connector" from the U.S. Patent and Trademark Office (Press release, IceCure Medical, OCT 21, 2024, View Source [SID1234647293]). This is the first global patent issued for the cryogenic system connector, a key component of IceCure’s next-generation liquid nitrogen-based XSense cryoablation system. Several other patent applications for this technology are pending in key markets.

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XSense and its cryoprobes, which have U.S. Food and Drug Administration clearance for all of the indications for which IceCure’s flagship ProSense has already received clearance, has the potential to address additional indications and significant unmet needs in the global tumor ablation market, estimated at $1.67 billion in 2023 according to Grand View Research.

"With a patent portfolio of over 50 issued patents and the development of our next-generation systems, we continue to be an innovation leader in the cryoablation space. We are committed to fortifying our intellectual property assets as our cryoablation systems gain commercial traction worldwide," stated IceCure’s CEO, Eyal Shamir.