Paxman AB (publ) signed research collaboration agreement with National University Hospital, Singapore for the development of a portable cooling and compression device to prevent chemotherapy-induced Peripheral neuropathy (nerve damage in hands and feet). The goal is to have a prototype ready for clinical studies in second quarter of2020. This new development project creates substantial synergies for PAXMAN in both product development and global marketing/sales of cooling devices in the oncology market for side effect management. The goal is to develop a portable medical cooling product which compliments the company's market leading scalp cooling system and current research and development pipeline. Any patents and other intellectual properties based on the collaboration will be jointly owned by the parties, while PAXMAN retains the exclusive rights to commercialize and sell products following market clearance. The financing of PAXMAN's part in the project will be covered by the company's existing budget for research and development, without the need for external capital.