During 2023 SciBase SciBase has continued to take important steps forward with continued strong sales growth in Germany, important reimbursement progress in the U.S. and continued to establish the Company within the skin barrier application area. In the fourth quarter of 2022 the Company signed a strategic collaboration agreement with Kenvue (formerly Johnson & Johnson Consumer Health) to develop a screening product to identify infants that are at increased risk for developing atopic dermatitis in the first year of life. Sales growth is the key for SciBase and the Company has, as per the third quarter 2023, had 13 consecutive quarters of sales growth (compared to the same periods in previous years). To continue the accelerated growth, SciBase prioritizes three key areas in line with the Company’s strategy: continued expansion in the U.S. through broader reimbursement, continued profitable sales growth in Germany, and the development of applications based on the evaluation of the skin barrier.
Acceleretad growth in Germany, our core market
- SciBase is experiencing rapid growth in our core European market, particularly in Germany.
- In 2022, our EU product usage surged, and we welcomed over 50% more new customers.
- With over 200,000 patients already tested for melanoma, we made a significant impact in early detection.
- In 2021, we successfully launched our Non-Melanoma Skin Cancer (NMSC) product in Germany, expanding our market presence.
- We proudly hold MDR certification in Europe, a significant barrier to potential competitors.
- Our profitability and robust sales growth in Germany demonstrate our market leadership.
Strategic partnership with Kenvue (formerly J&J Consumer Health)
- Our partnership with Kenuve is a testament to our potential
- Collaborating with Swiss hospitals, we're developing a screening product to predict the onset of atopic dermatitis (AD) in infants.
- Significant unmet needs exist in skin barrier-related conditions like eczema and food allergies, with 20% of infants developing AD.
- Notably, key articles published in 2021, 2022 and 2023 generated significant interest in our skin barrier products.
- Nevisense and Nevisense Go have been selected for several large studies, paving the way for future growth.
- Nevisense Go, our handheld platform, targets the barrier research market initially and will expand to dermatologists, non-specialists, and home users.
- We're actively partnering with industry leaders to support AD therapy and management through our Nevisense platforms.
Unlocking US market reimbursement for continued growth
- SciBase's Nevisense is the sole FDA approved point-of-care device available for melanoma detection in the US.
- Our success is validated by the enthusiastic adoption of our technology at the first 60 US sites.
- Collaborations with large dermatology practice groups, such as ADCS, are driving cost-effective market penetration.
- Substantial progress has been made in securing Medicare reimbursement, with the first two regions covering our method through a fee schedule.
- We are actively engaged with private payers and additional Medicare regions to expand accessibility.
- Our presence in the US market holds immense growth potential.