Our Huddersfield recently caught up with Richard Paxman, CEO of Paxman Coolers Limited (Paxman AB, Paxman UK, Paxman USA Inc.) a company rooted firmly in Huddersfield but having an immensely positive global impact, on a life changing scale.

A warm Our Huddersfield welcome to Richard!

So, Richard, how would you describe the sector Paxman Coolers operates in?

We work in Med Tech primarily Lifesciences – the manufacturing of medical devices for the Oncology Sector.

Can you tell Our Huddersfield what your organisation does?

Paxman manufactures and supplies the Paxman Scalp Cooling System (PSCS) used by cancer patients all over the world to minimise the side effect of hair loss caused by chemotherapy treatment.  A further medical compression and cooling device is also under development to manage the debilitating side effect of chemotherapy-induced nerve damage (CIPN) in hands and feet.

With exciting research in the pipeline, continual advances in our technology, and quickly expanding markets, we anticipate an exciting future ahead for our Huddersfield-based business.  Even so, we continue to ground ourselves in the love we have for family and the shared passion of our team for helping cancer patients around the world.

As a business, we are proud to call Huddersfield our home and we are committed to staying here as we grow.  We are also committed to helping support local schools, ensuring that all young people in our town have high aspirations and can fulfil their potential.

How many staff do you employ?

78

What does your role entail?

I currently manage the company’s overall operations, however much of this is supporting my fantastic Senior Leadership Team in developing and driving our strategy.

As a public entity, my role has changed somewhat with a greater focus on communicating to the markets and fund raising.  A large proportion of my time is spent in developing and driving the US business, a key growth area and over 50% of our company, along with our research projects in Singapore.

What attracted you to start/operate your business in Huddersfield? 

My family were all born and raised in Huddersfield and my parents met each other whilst attending Holmfirth High School!

Over 25 years ago, my Mum, Sue Paxman experienced, first-hand, the effect that chemotherapy-induced hair loss had on her quality of life following her breast cancer diagnosis.  As a family, we discovered that this sense of patient helplessness was common. With extensive knowledge of refrigeration systems, my father Glenn and his brother Neil worked tirelessly to create a successful device to combat this side effect, and the first Paxman device was installed at Huddersfield Royal Infirmary in 1997.

To this day chemo-induced alopecia remains one of the top five most distressing side effects in breast cancer treatment. However, the PSCS, manufactured here in Huddersfield, is helping patients all over the world to take control and have the chance to retain their hair during this most difficult time in their lives.

Could you tell Our Huddersfield some of your biggest business achievements?

In 2017, to take advantage of the growth opportunities that existed in the US and other markets Paxman needed additional resources.  We therefore implemented a share issue and the company was subsequently listed on Nasdaq First North Growth Market in Sweden.

It is now five years since we achieved clearance by the US Food and Drug Administration (FDA) to market our device in the USA.  This achievement followed significant investment and was a real milestone after six years of conducting the first-ever comprehensive multi-centre randomised clinical trial to evaluate modern scalp cooling.  The USA is the largest healthcare market in the world with over 1.6 million diagnoses of cancer each year.  Paxman Scalp Cooling is now a standard of care at some of the most trusted medical institutions not only in the United States, but also around the world.

I am very proud of the global clinical trials we continue to be involved with, but of particular note is the current trial we have ongoing with the National University Hospital, Singapore, in collaboration with The N.1 Institute for Health, National University of Singapore.  The study aims to investigate the efficacy in improving the preservation of peripheral nerves during chemotherapy via the newly developed Paxman Cryocompression System (PCCS) in cancer patients, who will undergo limb cryocompression over multiple cycles of chemotherapy, to establish safety and tolerability of repeated therapy.  The study is estimated to be completed by September 2023.

Can you share any recent positive or significant news about your business?

Previously, in the U.S., scalp cooling has only been available to patients on a self-pay basis – to those who have the financial means to pay out-of-pocket, or those who qualify for foundation or grant assistance.  Last year, the US Centers for Medicare & Medicaid Services (CMS) reassigned payment for scalp cooling for Medicare claims enabling Health Systems contracted with Paxman for ‘Buy and Bill’ to file claims with health insurance companies on behalf of their patients for provision of Paxman scalp cooling treatment.  Upwards of 400 locations that already have Paxman equipment installed across the United States are now able prepare for the possibility of increased payer reimbursement opportunities for Paxman Scalp Cooling treatment. This is in compliance with the laws and rules governing provision of items and services reimbursable by private insurance and federal programs, including Medicare or Medicaid.

Also, the company recently raised over £10 million on the Nasdaq First North Growth Market in Sweden to fund future growth in the business.

Could tell Our Huddersfield what advice would you give to someone looking to set up or relocate their business in the town? 

Huddersfield is perfectly positioned in the heart of the North with great access to other northern cities, such as Leeds, Manchester and Liverpool.  We are surrounded by some of the best higher education institutions in the North, and even in the UK, which provide some great opportunities for Research and Development.

What are your hopes for Huddersfield 10 years from now? 

I hope we will see a real regeneration of the town centre, whatever that may look like – creating a healthier and more prosperous town to ensure that existing businesses thrive and new businesses are attracted to invest in the local area.

A potential focus on Healthcare, MedTech and Digital would ensure that the pipeline of new talent coming out of our fantastic University of Huddersfield is retained in the town.

On a personal level, what do you love most about the town? 

I love the countryside and surrounding local villages whilst still having amazing access to other parts of the North – we’re so close here to the East and West coasts and seaside towns, the Lakes, Manchester and Leeds.

Where is your favourite place to eat/drink in Huddersfield? 

Lu’s Place is a great daytime venue for a bite to eat and a lovely local walk.  The Three Acres and Devour are also personal favourites!

Are there any recommendations or local knowledge you’d like to share with a visitor? 

The local history and heritage of our town is often overlooked and something we should be very proud of – there is some wonderful architecture right here in our town centre!

 

Website Link:

www.paxmanscalpcooling.com

www.paxman.se

www.coldcap.com

 

Social media links:

Twitter @scalpcooling and @RichPaxman

Instagram @scalpcooling

Facebook @paxmanscalpcooling

LinkedIn Paxman