Icecure Medical Ltd. · NASDAQ:ICCM
Icecure Medical — IPO Roadshow (June 2025)
33 slides from Icecure Medical's IPO roadshow presentation, Jun 25, 2025
Slide 1: Freezing Cancer in its Tracks
Freezing Cancer in its Tracks Enabling minimally invasive destruction of benign and cancerous tumors with cryoablation (Nasdaq: ICCM) www.icecure - medical.com June 2025 Filed Pursuant to Rule 433 Issuer Free Writing Prospectus Dated June 25, 2025 Relating to Preliminary Prospectus, dated June 16, 2
Slide 2: Forward Looking Statement
Forward Looking Statement This press release contains forward - looking statements within the meaning of the "safe harbor " provisions of the Private Securities Litigation Reform Act of 1995 and other Federal securities laws . Words such as "expects," "anticipates," "intends," "plans," "believes," "
Slide 3: Free Writing Prospectus
Free Writing Prospectus This presentation highlights basic information about IceCure Medical Ltd. (“IceCure" or the "Company") and the offering to which this presentation relates. As this presentation is a summary, it does not contain all of the information that you should consider before investing
Slide 4: Introducing ProSense: Non-surgical, next-generation cryoablation technology
Introducing ProSense ® Non - surgical, next - generation, cryoablation technology • Cryoablation is a minimally - invasive treatment performed under guided imaging – ultrasound (US) or computerized tomography (CT) – treatment that uses extreme cold to freeze and accurately destroy diseased tissue in
Slide 5: Company Highlights
Company Highlights Regulatory approvals in 15 countries, including the U.S. FDA, CE (Europe), Brazil, India, and China 5 Growing number of global distribution agreements Wide market applications: $2.4B tumor market by 2028¹ FDA decision on 510k De - Novo marketing authorization in early - stage brea
Slide 6: Market Opportunities
Market Opportunities 1 Estimated, according to Grand View Research, Inc. (www.grandviewresearch.com/industry - analysis/tumor - ablation - market) Data is for all tumor ablation technologies and indications, including heat ablation Cryoablation, RF, MW and others. The information herein has not been
Slide 7: Regulatory Approvals Worldwide
Regulatory Approvals Worldwide Rest of the world approvals : India, Thailand, Israel, Brazil, Canada, Singapore, Hong Kong, Australia, and South Africa have similar clinical indications as CE approval for ProSense®. Russia, Taiwan, Costa Rica, and Mexico have ProSense approvals although clinical ind
Slide 8: ProSense is Superior to Competing Thermal Ablation Technologies
ProSense ® is Superior to Competing Thermal Ablation Technologies Thermal Ablation (Radiofrequency & Microwave) Cryoablation IceCure ProSense ® Very painful 4 Minimal to no pain 4 Pain Heavy sedation / Full anesthesia Local Anesthesia Limited visualization 1 Excellent contour under ultrasound & CT 2
Slide 9: Breast Tumor Market Activities
9 Breast Tumor Market Activities
Slide 10: Patient Experience: Lumpectomy
Patient Experience: Lumpectomy 1. Pre - surgical screening/ Medical Clearance 7. Recovery at home Pain control, Potential continued nausea from anesthesia, Higher risk of post - operative bleeding or seroma 2. Fasting Begins at midnight. Anxiously await 3. Radiology Start day in radiology dept. to i
Slide 11: Patient Experience: Lumpectomy vs. Cryoablation
Patient Experience: Lumpectomy vs. Cryoablation 1. https://link.springer.com/article/10.1245/s10434 - 019 - 07247 - 5; https://ascopubs.org/doi/abs/10.1200/JCO.2020.38.15_suppl.576 7. Recovery at home 4. Pre - surgical prep 8. Re - excision 2. Breakfast Enjoy a healthy breakfast 3. Option to drive y
Slide 12: Cryoablation with ProSense – Value for All
Cryoablation with ProSense ® – Value for All x Minimally invasive x Excellent cosmetic results 1 x Safe, simpler, faster & with minimal pain x Rapid Recovery 2 x Preventing re - excision after lumpectomy¹ x Increased ROI x Faster procedure* = more patients x Expands user base x Easy - to - use, in o
Slide 13: ICE3 Trial: US Breast Cancer Cryoablation Analysis
ICE3 Trial: US Breast Cancer Cryoablation Analysis 13 194 Eligible Patients 96.8% Local Recurrence Free Rate For patients who received ProSense® cryoablation and received endocrine therapy 1,2 Safe Procedure No serious adverse events related to the study or procedure were reported 1 100% Patient & P
Slide 14: Independent Studies Confirm ICE3 Results
Independent Studies Confirm ICE3 Results 14 In women with early - stage breast cancer who declined surgery (3) Study conducted by Principal Investigator Lucía Graña - López, MD, PhD, a radiologist who specializes in breast and women's imaging, Head of the Breast Unit at University Hospital Lucus Aug
Slide 15: U.S. Clinical Market Analysis of Invasive Breast Cancer
U.S. Clinical Market Analysis of Invasive Breast Cancer Initial addressable market based on proposed FDA indication of ~46,000 2,4 breast cancer patients per year in the U.S. For patients aged 70+ with low risk, early stage, T1 invasive breast cancer with adjuvant endocrine therapy • 316,950 new cas
Slide 16: U.S. Breast Cancer Go-To-Market Strategy
U.S. Breast Cancer Go - To - Market Strategy • FDA Decision Expected after the CDRH approves IceCure’s Post - Market Study Plan • IceCure has delivered a post - market study plan for approval which will include approximately 400 patients aged 70+ across 25 sites • Marketing & Distribution Ready • Di
Slide 17: Breast Cancer - Terumo Japan Agreement
Breast Cancer - Terumo Japan Agreement For >6 years ProSense ® has been sold through a Private Import License - now leveraging an agreement with Terumo to expand distribution and acquire PMDA approval Exclusive strategic distribution agreement with Terumo to accelerate commercialization of ProSense®
Slide 18: Interventional Radiology
Interventional Radiology 18
Slide 19: Interventional Radiology Applications - Global
Interventional Radiology Applications - Global Kidney Cancer Lung Cancer MSK * Cancer Liver Cancer Europe 1 : 718,898 Women's Health 1 – https://gco.iarc.who.int/media/globocan/factsheets/populations/908 - europe - fact - sheet.pdf 2 - https://gco.iarc.who.int/media/globocan/factsheets/populations/9
Slide 20: Kidney, Endometriosis and Lung Cancer Results
Kidney Cancer 88.7% recurrence - free rate Endometriosis 92.8% avoid secondary surgery IceCure ’ s ICESECRET ProSense® Trial Interim Results: • Highly effective for kidney tumors < 3 cm and a safe procedure for kidney tumors < 5 cm in people ineligible for surgery • 88.7 % were recurrence free at me
Slide 21: IceCure's Global Reach
IceCure ’ s Global Reach Available directly or through distributors in the following countries EMEA – France, Germany, Italy, Spain, Poland, Romania, Hungary, Turkey, South Africa, Israel Asia – China, Hong Kong, Japan, India LATAM – Brazil, Costa Rica North America – USA & Canada 21
Slide 22: Business Model – Revenue Generators
Business Model – Revenue Generators Console related revenues x Sales of consoles x Consoles loaned for a minimum purchase of probes per month x Service & maintenance – recurring revenue x Accessories Probes and introducers x Recurring Revenue ProSense ® console sales/placement + consumable probe rec
Slide 23: Upcoming Milestones and Strategy
Upcoming Milestones and Strategy • FDA Decision Expected after the FDA’s Center for Devices and Radiological Health (CDRH) approves IceCure’s Post - Market Study Plan • Terumo, IceCure's distributor in Japan, is expected to submit the request for breast cancer clearance to Japan's Pharmaceuticals an
Slide 24: Well-Positioned to Advance Commercialization of ProSense
Well - Positioned to Advance Commercialization of ProSense ® ICCM Ticker $1.03 Share Price (05/28/25) $60 M Market Cap (05/28/25) 58.6 M Shares Outstanding (05/28/25) 265 K Avg. Daily Trading Volume (05/28/25) $3.3 M 2024 Revenues $6.2 M Cash, Cash Equivalents, and Short - Term Deposits* (05/27/25)
Slide 25: Proven Leadership Team
Proven Leadership Team Ronen Tsimerman, CFO and COO Nearly 20 years’ experience as a CFO of public and private companies Ron Mayron, Chairman of the Board Served for 20 years in several positions at Teva including as VP – Israel & Africa & CEO of Teva Israel Shay Levav, VP Clinical, Regulatory & QA
Slide 26: Thank You!
Thank You! 26 Eyal Shamir, CEO Ronen Tsimerman – CFO/COO E: investors@icecure - medical.com T: + 972 - 4 - 623 - 0333
Slide 27: Appendix Additional Resources
Appendix Additional Resources 27
Slide 28: Interventional Radiology – U.S. Strategy
Interventional Radiology – U.S. Strategy FDA Approvals x General minimally - invasive cryoablation applications x Kidney cancer x Liver cancer Reimbursement x CPT I¹ approval and coverage for cryoablation of kidney, liver, lung & bone x CPT II¹ approval and coverage for cryoablation of bone cancer 2
Slide 29: ICE Secret Clinical Trial – Bnai Zion Medical Center, Israel
ICE Secret Clinical Trial – Bnai Zion Medical Center, Israel 29 111 Patients Mean Follow Up 36 months 88.7% Recurrence - Free Rate ProSense® cryoablation is highly effective for kidney tumors < 3 cm and a safe procedure for kidney tumors < 5 cm in people ineligible for surgery 1. Shprits S et al. Po
Slide 30: List of publications – Breast Cancer
List of publications – Breast Cancer Country Publication Title # Japan Matsumoto K et al 2025 Post - treatment patient satisfaction in early - stage breast cancer: comparison of cryoablation versus breas t conservation therapy using BREAST - Q 1 Japan Matsumoto K et al 2024 CA as the primary treatme
Slide 31: List of publications – Breast Cancer
List of publications – Breast Cancer Country Publication Title # USA Fine et al 2021 - Cryoablation Without Excision - 3 - Year Interim ICE3 Trial 12 Japan Kawamoto et al 2021 - VAB +MRI Following Cryoablation for Primary Early - Stage Breast Cancer - Pilot Study 13 Japan Adaci et al 2020 - Fluorode
Slide 32: List of publications – Fibroadenoma
List of publications – Fibroadenoma Country Publication Title # Spain de Bustamante Durbán et al 2024 Cryoablation - Our experience as an alternative to surgery for fibroadenoma 1 Spain Graña - López L et al 2022 Cryoablation of breast lesions - our experience 2 USA Sheth M et al 2019 - With Cryoabl
Slide 33: List of publications – Interventional Radiology
List of publications – Interventional Radiology Country Publication Title Indication Italy Aurilio G et al - 2023 Image - Guided Ablations in Patients with Recurrent Renal Cell Carcinoma Kidney France Moulin et al 2023 Single - Probe Percutaneous Cryoablation with Liquid Nitrogen Korea Shin et al 20