STOCKHOLM, SWEDEN, - September 28 2023 - SciBase Holding AB ("SciBase") [STO:SCIB], a leading developer of augmented intelligence-based solutions for skin disorders announced today the publication of the clinical results from a study performed together with the University Children's Hospital Zürich. The study demonstrates the ability of Nevisense to distinguish children with and without Atopic Dermatitis (AD).
Atopic Dermatitis is one of the most prevalent disorders in the world, affecting up to 20% of children globally. Currently, there is no clinical device that can assist in the diagnosis or severity assessment of AD.
The study was performed on children between 4 months and 3 years of age and aimed at identifying children with Atopic Dermatitis with the use of Nevisense. Nevisense and its underlying Electrical Impedance Spectroscopy (EIS) technology were used to create an Augmented Intelligence (AI) algorithm to identify healthy skin from atopic skin, even when measurements were performed on visually unaffected skin. The top-line results of the study indicated that:
Nevisense can detect skin barrier dysfunction in children.
Information about skin barrier dysfunction can be found on visually unaffected skin.
Nevisense complex AI algorithms can be trained to include or disregard certain potential artifacts in the dataset, as exemplified by Age not being an affecting factor.
The study also suggests an ability to predict a child's likelihood of developing AD.
The authors concluded that EIS (Nevisense) can detect skin barrier dysfunction and differentiate skin of children with AD from healthy skin and suggests that EIS may have the ability to predict future AD development.
"For SciBase, these findings underscore our commitment to the skin barrier field, aiming to create products that enhance the prediction and management of childhood Atopic Dermatitis. For additional information regarding our work in this space see: http://investors.scibase.se/en/scibase-announces-collaboration-to-detect-skin-barrier-dysfunction-in-infants ", says Pia Renaudin appointed CEO, SciBase.
The full results of the study have now been published in the scientific journal Allergy and can be found here: https://onlinelibrary.wiley.com/doi/full/10.1111/all.15895. The study was carried out jointly between Children's Hospital Zürich, CKCare and SciBase.
About SciBase and Nevisense SciBase is a global medical technology company headquartered in Stockholm, Sweden, that has developed a unique point of care platform for the non-invasive detection of skin cancer and other skin conditions. SciBase is a pioneer within augmented intelligence, combining artificial intelligence with Electrical Impedance Spectroscopy (EIS) to provide objective information that assists dermatologists and others in clinical decision-making. SciBase's products include Nevisense and Nevisense Go and to date the platform addresses the areas of melanoma detection, non-melanoma skin cancer detection and skin barrier assessment. Nevisense is the only FDA-approved device for the detection of melanoma and the only MDR-approved technology for skin cancer detection in Europe. SciBase's technology is based on more than 20 years of academic research at the Karolinska Institute in Stockholm, Sweden. For more information please visit www.scibase.com. All press-releases and financial reports can be found here : http://investors.scibase.se/en/pressreleases
STOCKHOLM, SWEDEN, - September 25, 2023 - SciBase Holding AB ("SciBase") [STO:SCIB], a leading developer of augmented intelligence-based solutions for skin disorders announced today that they have entered into a collaboration agreement with Bare Dermatology to pilot Nevisense in select locations in Texas. Bare Dermatology is a dermatology practice group in the Greater Dallas area, with five offices and a team of nationally renowned dermatologists. The agreement will provide Bare Dermatology with Nevisense, the only FDA-approved test for early melanoma detection at point-of-care.
"At Bare Dermatology, we strive to provide our patients with the highest standard of care. Nevisense can help us to identify melanoma at an early stage, which is critical for improving patient outcomes. Melanoma is a leading cause of death among skin cancers, but when detected early, it has a nearly 100% cure rate. Our patients deserve medical care with the most advanced technology we can provide." said Dr. Aaron Farberg, Chief Medical Officer of Bare Dermatology. Dr. Farberg was recently ranked by his dermatology colleagues in Newsweek Magazine as the #1 medical dermatologist in Texas and #5 in the United States.
"We are excited to together with Bare Dermatology support their efforts to provide the highest quality care to their patients through the use of Nevisense, the only FDA approved melanoma detection technology at point-of-care. SciBase is focused on addressing the need for early melanoma detection in the highest at-risk patient population in the U.S. We are expanding in the areas where melanoma rates are high and where patients have access to the Nevisense test fee schedule from Medical Administrative Contractors (First Coast of Florida and Novitas). We are pleased to collaborate with Bare Dermatology as we expand across the US to address the early detection of melanoma needs", said Pia Renaudin, appointed Chief Executive Officer of SciBase.
About SciBase and Nevisense SciBase is a global medical technology company headquartered in Stockholm, Sweden, that has developed a unique point of care platform for the non-invasive detection of skin cancer and other skin conditions. SciBase is a pioneer within augmented intelligence, combining artificial intelligence with Electrical Impedance Spectroscopy (EIS) to provide objective information that assists dermatologists and others in clinical decision-making. SciBase's products include Nevisense and Nevisense Go and to date the platform addresses the areas of melanoma detection, non-melanoma skin cancer detection and skin barrier assessment. Nevisense is the only FDA-approved device for the detection of melanoma and the only MDR-approved technology for skin cancer detection in Europe. SciBase's technology is based on more than 20 years of academic research at the Karolinska Institute in Stockholm, Sweden. For more information please visit www.scibase.com. All press-releases and financial reports can be found here : http://investors.scibase.se/en/pressreleases
About Bare Dermatology Bare Dermatology is a comprehensive dermatological medical company headquartered in Dallas, Texas, USA. Their medical practice is dedicated to providing the highest quality clinical care while providing an exceptional patient experience and an uncompromising commitment to employee culture. Their clinicians are world-renowned and are leaders in their fields of expertise. Bare Dermatology was founded on the uncompromising guiding principles of culture, experience, and patient care. https://www.barederm.com/
STOCKHOLM, SWEDEN, - September 4, 2023 - SciBase Holding AB ("SciBase") [STO:SCIB], a leading developer of augmented intelligence-based solutions for skin disorders hereby announces that Dan Walker has been appointed as VP US Commercial Operations.
Dan was previously Senior Director Commercial Insights, Market Access and Field Reimbursement at Biofrontera Inc., a company focused on the Dermatology market treating actinic keratosis with PDT (Photodynamic Therapy). At Biofrontera Inc., Dan was an instrumental leader in launching the new company in the US market with their first FDA approved drug and device combination product in Dermatology.
With more than 24 years of experience in the US healthcare market, Dan has held leadership roles in Sales, Training, Commercial Operations, Commercial Insights, Key Accounts, Market Access, and Field Reimbursement. His experience building winning teams within the US Dermatology market, and deep knowledge of the US medical benefit reimbursement landscape, will be key in driving SciBase US sales and market access activities forward.
"We see Dan's experience and drive as key in SciBase's success in the US as we expand and build on our recent reimbursement progress with two Medicare Administrative Contractors (MACs). We have recently added employees in both Texas and California to continue to expand within reimbursement and sales. We welcome Dan to the team and look forward to further acceleration of activities in the US market,", says Tord Lendau, Chairman of the Board at SciBase.
For further information visit www.scibase.com or contact:
About SciBase and Nevisense SciBase is a global medical technology company headquartered in Stockholm, Sweden, that has developed a unique point of care platform for the non-invasive detection of skin cancer and other skin conditions. SciBase is a pioneer within augmented intelligence, combining artificial intelligence with Electrical Impedance Spectroscopy (EIS) to provide objective information that assists dermatologists and others in clinical decision-making. SciBase's products include Nevisense and Nevisense Go and to date the platform addresses the areas of melanoma detection, non-melanoma skin cancer detection and skin barrier assessment. Nevisense is the only FDA-approved device for the detection of melanoma and the only MDR-approved technology for skin cancer detection in Europe. SciBase's technology is based on more than 20 years of academic research at the Karolinska Institute in Stockholm, Sweden. For more information please visit www.scibase.com. All press-releases and financial reports can be found here : http://investors.scibase.se/en/pressreleases
STOCKHOLM, SWEDEN, - August 29, 2023 - SciBase Holding AB ("SciBase") [STO:SCIB], a leading developer of augmented intelligence-based solutions for skin disorders announced today that the Board has appointed Pia Renaudin as the Company's Chief Executive Officer (CEO).
Pia will join SciBase as CEO on October 1st, 2023. As previously announced on May 15th, Simon Grant resigned from his position as CEO for personal reasons and will remain with the Company until the end of October to fully support the transition.
Pia is an exceptionally well-suited candidate to implement SciBase's strategy in order to reach the company's full potential. The board is convinced that she will help in creating shareholder value.
Tord Lendau, Chairman of the Board at SciBase commented:" I am very pleased to welcome Pia Renaudin as our new CEO. She has an extensive track record of developing and growing businesses and a broad international experience. She has built up businesses from scratch to multi-million SEK sales in the United States, a key component of our growth strategy. We believe that Pia is the right CEO to execute our strategy and to bring SciBase to the next level." Furthermore, he added: "I would also like to take the opportunity and thank Simon Grant for his long-term dedication and for an excellent job done in positioning SciBase with the products and indications that will now take the company to the next phase. On behalf of the Board, we wish him personally all the best for his future endeavors."
Pia Renaudin comments her appointment, "I am thrilled to be joining SciBase at this transformative stage, following the positive reimbursement news. I am looking forward to lead and expand SciBase to become a successful commercial entity for the benefit of patients and all other stakeholders in my new role as CEO. I am convinced we have a very exciting future with great growth potential ahead of us".
Pia Renaudin has extensive experience in the global Life Science and MedTech industries. She has spend over 20 year in leading positions in companies such as Senzime AB, Gilead Sciences, Stryker and AstraZeneca. Pia joins SciBase from Senzime AB, a Swedish MedTech Company listed on Nasdaq Stockholm main market, where she held the position of CEO from 2019 to 2023. During her tenure she significantly grew the sales, for instance in Q1-23 sales in Senzime grew by 161% with the US constituting the majority of the sales and growing by 215%.
SciBase has made significant progress both in the US and EU (MDR) by navigating the challenging regulatory processes and market environments in these territories. In addition, it has reached profitability in Germany (proof-of-business) through growing sales mainly of test volumes. SciBase has also recently made significant progress with Medicare reimbursement and market penetration in the US and Nevisense remains the only point-of-care melanoma detection product available in the US. The foundation for further growth both in the US and globally has been laid.
This information is information that SciBase Holding AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out below, at 16.30 CET on August 29, 2023.
For further information visit www.scibase.com or contact:
About SciBase and Nevisense SciBase is a global medical technology company headquartered in Stockholm, Sweden, that has developed a unique point of care platform for the non-invasive detection of skin cancer and other skin conditions. SciBase is a pioneer within augmented intelligence, combining artificial intelligence with Electrical Impedance Spectroscopy (EIS) to provide objective information that assists dermatologists and others in clinical decision-making. SciBase's products include Nevisense and Nevisense Go and to date the platform addresses the areas of melanoma detection, non-melanoma skin cancer detection and skin barrier assessment. Nevisense is the only FDA-approved device for the detection of melanoma and the only MDR-approved technology for skin cancer detection in Europe. SciBase's technology is based on more than 20 years of academic research at the Karolinska Institute in Stockholm, Sweden. For more information please visit www.scibase.com. All press-releases and financial reports can be found here : http://investors.scibase.se/en/pressreleases
The cash flow from current operations was negative in the amount of TSEK 13,054 (9,643).
The gross margin was 65.3% (70.6%).
Electrode sales volume increased by 19% and was 11,330 (9,550) units. Repeat sales of electrodes to existing customers increased by 23%.
The half year in figures
Net sales were TSEK 10,234 (7,987), +28%.
The loss after tax was TSEK 22,258 (18,948).
The loss per share was SEK 0.31 (0.28).
The cash flow from current operations was negative in the amount of TSEK 16,805 (20,155).
The gross margin was 67.0% (66.4%).
Electrode sales volume increased by 17% and was 22,944 (19,580) units. Repeat sales of electrodes to existing customers increased by 1%.
Important events during the quarter
Overall sales increased by 36% (+24, before currency effects). Sales in Germany increased by 62% (48% in local currency). Sales in the US skin cancer market were 74% lower than Q2 2022. Sales within the skin barrier segment decreased by 18%.
Two Medicare Administrative Contractors (MACs): First Coast Service Options (First Coast) and Novitas Solutions (Novitas) released updated fee schedules for SciBase’s early detection test for melanoma. First Coast covers the state of Florida and Novitas covers the central and mid-Atlantic US and together they cover about one-third of the US Medicare population. The fee schedules have been increased to levels seen as more appropriate by clinicians.
The current CEO Simon Grant announced he will leave his position as CEO for personal reasons.
The AGM 2023 was held on May 17th.
The annual report for 2022 was published.
Important events after the end of the period
No events of significant nature have occurred after the end of the period.
Financial overview
July 1, 2022 -
Apr 1 - June 30
Jan 1 - June 30
June 30, 2023
Jan 1 - Dec 31
THE GROUP
2023
2022
2023
2022
Rolling-12
2022
Net sales, SEK ths
5 085
3 726
10 234
7 987
20 137
17 890
Gross margin, %
65,3%
70,6%
67,0%
66,4%
63,5%
62,8%
Equity/Asset ratio, %
73,7%
76,6%
73,7%
76,6%
74,9%
50,6%
Net indebtness, multiple
0,36
0,30
0,36
0,30
0,34
0,98
Cash equivalents, SEK ths
70 874
44 577
70 874
44 577
70 874
18 832
Cashflow from operating activities, SEK ths
-13 054
-9 643
-16 805
-20 155
-41 116
-44 466
Earnings per share (before and after dilution), SEK
-0,16
-0,13
-0,31
-0,28
-0,67
-0,63
Shareholder's equity per share, SEK
0,60
0,72
0,75
0,72
0,74
0,37
Average number of shares, 000'
119 831
68 475
96 129
68 475
82 302
68 475
Number of shares at closing of period, 000'*
119 831
68 475
119 831
68 475
119 831
68 475
Share price at end of period, SEK
1,19
3,41
1,19
3,41
1,19
3,82
Number of sold electrodes, pieces
11 330
9 550
22 944
19 580
45 076
41 712
Average number of employees
22
19
21
19
21
20
This information is information that SciBase Holding AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was originally submitted for publication, through the agency of the contact person set out below, at 08.00 CET on August 18, 2023.
This interim report report has not been subject to review by the Company’s auditors
Contact person:
Michael Colérus, CFO, +46 70 341 34 72
For more information, please contact:
Simon Grant, CEO SciBase
Tel: +46 72 887 43 99
Email: [email protected]
About SciBase and Nevisense SciBase is a global medical technology company headquartered in Stockholm, Sweden, that has developed a unique point of care platform for the non-invasive detection of skin cancer and other skin conditions. SciBase is a pioneer within augmented intelligence, combining artificial intelligence with Electrical Impedance Spectroscopy (EIS) to provide objective information that assists dermatologists and others in clinical decision-making. SciBase’s products include Nevisense and Nevisense Go and to date the platform addresses the areas of melanoma detection, non-melanoma skin cancer detection and skin barrier assessment. Nevisense is the only FDA-approved device for the detection of melanoma and the only MDR-approved technology for skin cancer detection in Europe. SciBase’s technology is based on more than 20 years of academic research at the Karolinska Institute in Stockholm, Sweden. For more information please visit www.scibase.com. All press-releases and financial reports can be found here : http://investors.scibase.se/en/pressreleases
Midsummer approaches and, as you know, Simon resigned a few weeks ago so we would like to give you a quick update on the recent progress at SciBase.
SciBase has, under Simons leadership, built a foundation for growth by developing two dermatology products with great potential. Many important advancements have been made within the research, development, quality, regulatory, initial sales, and the reimbursement sides of the business. I believe we now have a solid foundation to stand on and, as Simon will remain with the company until October, it will give a smooth transition to the next phase of the company's future.
The foremost priorities for SciBase are to focus on further improving US reimbursement of our products, to cover a larger population and geographical part of the US, improving sales and usage of the sold products in both the US and in Germany, as well as continue lowering the production cost in our products to enable future sales outside of these territories.
We clearly have a chance to become the standard of care in dermatology. To achieve this, we will have to focus heavily on sales! The new CEO we recruit must have an excellent history and experience level with sales, understand how reimbursement works in the US, and be able to grow the company faster from where we now stand. The work to recruit a new CEO is ongoing even though we are approaching summer.
We have achieved a lot lately and by far the most important event this year has been the decision by two Medicare Administrative Contractors (MACs) to grant an increased fee schedule amount for the Nevisense test in the US.
This is a major step for the company for several reasons:
Firstly, it means that the Nevisense test can now be reimbursed for Medicare patients in Florida, Texas, Colorado, Louisiana, Arkansas, Mississippi, New Mexico, Oklahoma, New Jersey, District of Columbia, Delaware, Pennsylvania, Maryland, and parts of Virginia. In total that means approximately 11M seniors out of 37M in the whole US in all areas will have access to the test, paid by Medicare.
We see this as a very important, positive decision for SciBase. Of course, it is also important for patients, given that seniors are the patient demographic with the highest rates of skin cancer.
Secondly, this decision will help us in our efforts to secure coverage in other Medicare regions and with private insurers. Establishing a Medicare fee schedule in the western US is our next focus region. Additionally, we have been working for about a year with four large national private payers to secure coverage and payment. The Medicare decision will help us with those and other, expanded coverage efforts.
Finally, the decision means that it now makes sense for SciBase to increase efforts to sale more aggressively in the US. We are in the process of employing further field staff to cover existing and new areas.
US sales are the clear focus for SciBase in the coming quarters, though it may take a quarter or two to see a significant impact on sales as the new employees come on-line. If everything works out well, we can expect exponential, rather than linear sales growth i.e., lower growth in the beginning and exponentially better as reimbursement coverage improves.
As you might know our strategy is to cooperate with large practice groups, and we recently announced the third large group to implement Nevisense - The Schweiger Dermatology Group, based in the North-East US. Schweiger has started by installing systems with two clinics in New Jersey. There are advanced discussions underway with an additional group. As we secure broader insurance coverage, it will become easier to get these practice groups up and running. Now more than 10% of the target population have paid access to our test, and we expect real sales growth as we approach 50%.
Germany
Germany is now our proof of business and goes from strength to strength. We continue to see very good levels of organic growth in electrode usage rates, new system sales and sales overall. We are selling about twice as many new systems compared to last year, which in turn will drive future electrode sales. We are approaching 400 systems installed and are there are nearly 1,000 Nevisense tests performed each week. A reasonable reimbursement level and our expanded indication (Non-Melanoma Skin Cancer) are key drivers for the growth. This again illustrates the importance of reimbursement in driving sales, and we know from our experience in Germany that as we secure coverage in the US, sales will come.
Skin Barrier Function
We will get back to you on this after the summer, but it is developing swiftly and in the right direction.
So, I would like to end by saying that we now have 1. Proof of Principle, i.e., the product/ technology works. We also have 2. Proof of Business, i.e., customers like the product, re-order and Germany is now profitable and cash positive.
Next step is to show we have 3. Proof of Scalability i.e., we can grow sales rapidly with lower cost of goods with a particular focus on the US.
Happy summer
Tord Lendau
Chairman SciBase
For further information visit www.SciBase.com or contact:
About SciBase and Nevisense SciBase is a global medical technology company headquartered in Stockholm, Sweden, that has developed a unique point of care platform for the non-invasive detection of skin cancer and other skin conditions. SciBase is a pioneer within augmented intelligence, combining artificial intelligence with Electrical Impedance Spectroscopy (EIS) to provide objective information that assists dermatologists and others in clinical decision-making. SciBase's products include Nevisense and Nevisense Go and to date the platform addresses the areas of melanoma detection, non-melanoma skin cancer detection and skin barrier assessment. Nevisense is the only FDA-approved device for the detection of melanoma and the only MDR-approved technology for skin cancer detection in Europe. SciBase's technology is based on more than 20 years of academic research at the Karolinska Institute in Stockholm, Sweden. For more information please visit www.SciBase.com. All press-releases and financial reports can be found here : http://investors.SciBase.se/en/pressreleases
STOCKHOLM, SWEDEN, - May 15, 2023 - SciBase Holding AB ("SciBase") [STO:SCIB], a leading developer of augmented intelligence-based solutions for skin disorders announced today that Simon Grant has resigned from his position as CEO for personal reasons and will be transitioning out of his role over the next six months. Simon Grant will remain available to the Board in a consulting capacity after the end of the planned transition time.
The Board has initiated the process to recruit a new CEO and will provide an update in due course. Tord Lendau, Chairman of the Board of Directors of SciBase, will assume the role of CEO in the interim to ensure a smooth transition.
"We thank Simon for his efforts as Managing Director at SciBase. During his nine years as CEO, SciBase has transitioned from being a research-oriented company to a commercial stage company with products approved and marketed in the US, Europe and Australia. Obtaining the PMA for Nevisense in the US in 2017 and being able to subsequently secure Medicare reimbursement earlier this year, was the culmination of Simon's efforts to bring the company's technologies to the market and to the benefit of patients worldwide. We wish Simon all the best in his future endeavors and it is positive that he will remain available to assist the board even after ending his role as CEO. I will be stepping in as interim CEO to manage the transition. While it is disappointing to see Simon leave, we can also see this as an opportunity to optimize the organization as we leverage our platform to further accelerate our growth, especially in the US", says Tord Lendau Chairman of the Board at SciBase.
The Company has made significant progress in navigating challenging regulatory processes and market environments and has reached profitability in Germany through growing sales of Nevisense and electrodes. SciBase has also recently made significant progress with Medicare reimbursement and market penetration in the US and Nevisense remains the only melanoma detection product available in the US. The foundation for further growth has been laid.
This information is information that SciBase Holding AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out below, at 13.15 CET on May 15, 2023.
For further information visit www.scibase.com or contact:
About SciBase and Nevisense SciBase is a global medical technology company headquartered in Stockholm, Sweden, that has developed a unique point of care platform for the non-invasive detection of skin cancer and other skin conditions. SciBase is a pioneer within augmented intelligence, combining artificial intelligence with Electrical Impedance Spectroscopy (EIS) to provide objective information that assists dermatologists and others in clinical decision-making. SciBase's products include Nevisense and Nevisense Go and to date the platform addresses the areas of melanoma detection, non-melanoma skin cancer detection and skin barrier assessment. Nevisense is the only FDA-approved device for the detection of melanoma and the only MDR-approved technology for skin cancer detection in Europe. SciBase's technology is based on more than 20 years of academic research at the Karolinska Institute in Stockholm, Sweden. For more information please visit www.scibase.com. All press-releases and financial reports can be found here : http://investors.scibase.se/en/pressreleases
STOCKHOLM, SWEDEN, - May 15, 2023 - SciBase Holding AB ("SciBase") [STO:SCIB], a leading developer of augmented intelligence-based solutions for skin disorders hereby clarifies the May 15th announcement that Simon Grant will leave his position as CEO for personal reasons. Simon will transition out of his role over the next six months but will remain formally as CEO during this time. Simon Grant will also remain available to the Board in a consulting capacity after the end of the planned transition time.
The Board has initiated the process to recruit a new CEO and will provide an update in due course. Tord Lendau, chairman of the board of SciBase, will take over certain operational parts of the role of CEO during the transition period as Simon Grant will gradually reduce his involvement. As chairman of the board, Tord is responsible for driving the process of finding a new CEO and will work to ensure a smooth transition.
"We thank Simon for his efforts as Managing Director at SciBase. During his nine years as CEO, SciBase has transitioned from being a research-oriented company to a commercial stage company with products approved and marketed in the US, Europe and Australia. Obtaining the PMA for Nevisense in the US in 2017 and being able to subsequently secure Medicare reimbursement earlier this year, was the culmination of Simon's efforts to bring the company's technologies to the market and to the benefit of patients worldwide. We wish Simon all the best in his future endeavors and it is positive that he will remain available to assist the board even after ending his role as CEO. I will step into an operational role and support the CEO to manage the transition as smoothly as possible. While it is disappointing to see Simon leave, we can also see this as an opportunity to optimize the organization as we leverage our platform to further accelerate our growth, especially in the US", says Tord Lendau Chairman of the Board at SciBase.
The Company has made significant progress in navigating challenging regulatory processes and market environments and has reached profitability in Germany through growing sales of Nevisense and electrodes. SciBase has also recently made significant progress with Medicare reimbursement and market penetration in the US and Nevisense remains the only melanoma detection product available in the US. The foundation for further growth has been laid.
For further information visit www.scibase.com or contact:
About SciBase and Nevisense SciBase is a global medical technology company headquartered in Stockholm, Sweden, that has developed a unique point of care platform for the non-invasive detection of skin cancer and other skin conditions. SciBase is a pioneer within augmented intelligence, combining artificial intelligence with Electrical Impedance Spectroscopy (EIS) to provide objective information that assists dermatologists and others in clinical decision-making. SciBase's products include Nevisense and Nevisense Go and to date the platform addresses the areas of melanoma detection, non-melanoma skin cancer detection and skin barrier assessment. Nevisense is the only FDA-approved device for the detection of melanoma and the only MDR-approved technology for skin cancer detection in Europe. SciBase's technology is based on more than 20 years of academic research at the Karolinska Institute in Stockholm, Sweden. For more information please visit www.scibase.com. All press-releases and financial reports can be found here : http://investors.scibase.se/en/pressreleases
Today, the annual general meeting of 2023 was held in SciBase Holding AB (publ) (the "Company" or "SciBase"). Below follows a summary of the resolutions passed at the annual general meeting.
The annual general meeting resolved:
to adopt the profit and loss statement and the balance sheet and the group profit and loss statement and the group balance sheet for the financial year 2022;
that SEK 171,885,712 shall be carried forward in new account and that no dividend shall be paid;
to grant the board members and the CEO discharge from liability for the financial year 2022;
that the board of directors shall consist of five ordinary members without deputy members and that a registered accounting firm shall be elected as auditor;
that the fees payable to the board of directors for the period until the end of the next annual general meeting shall be SEK 200,000 for the chairman of the board and SEK 150,000 to each of the other ordinary board members (who are not employed by a larger shareholder in the Company) and that fees payable to the auditor is to be paid in accordance with approved invoices;
for the period until the end of the next annual general meeting, to re-elect Tord Lendau, Diana Ferro, Thomas Taapken, Matt Leavitt and Jvalini Dwarkasing as board members, to re-elect Tord Lendau as chairman of the board of directors and to re-elect the auditing firm PricewaterhouseCoopers AB (PwC) as auditor for the Company, with Magnus Lagerberg as auditor-in-charge;
to adopt principles for the appointment of a nomination committee (same principles as previous year);
to change the articles of association so that the wording of section 4 in the articles of association is revised from "The company's share capital shall be no less than SEK 1,500,000 and no more than SEK 6,000,000." to "The company's share capital shall be no less than SEK 5,990,000 and no more than SEK 23,960,000." and the wording of section 5 in the articles of association is revised from "The number of shares shall be no less than 30,000,000 and no more than 120,000,000." to "The number of shares shall be no less than 119,800,000 and no more than 479,200,000."; and
to authorize the board of directors to increase the share capital through issuance of new shares, warrants and/or convertible debentures. Through issuances resolved upon with support from the authorisation - with deviation from the shareholders' preferential rights - the number of shares issued, or number of shares created in connection with exercise of warrants or conversion of convertibles, shall correspond to not more than a 20 per cent dilution of the share capital and the number of shares and votes in the Company after such issue(s).
For more information, please contact: Simon Grant, CEO SciBase
Tel: +46 72 887 43 99
Email: [email protected]
About SciBase and Nevisense SciBase is a global medical technology company headquartered in Stockholm, Sweden, that has developed a unique point of care platform for the non-invasive detection of skin cancer and other skin conditions. SciBase is a pioneer within augmented intelligence, combining artificial intelligence with Electrical Impedance Spectroscopy (EIS) to provide objective information that assists dermatologists and others in clinical decision-making. SciBase's products include Nevisense and Nevisense Go and to date the platform addresses the areas of melanoma detection, non-melanoma skin cancer detection and skin barrier assessment. Nevisense is the only FDA-approved device for the detection of melanoma and the only MDR-approved technology for skin cancer detection in Europe. SciBase's technology is based on more than 20 years of academic research at the Karolinska Institute in Stockholm, Sweden. For more information please visit www.scibase.com. All press-releases and financial reports can be found here : http://investors.scibase.se/en/pressreleases
The information was submitted for publication, through the agency of the contact person set out above, at 10.00 CET on April 21, 2023.
About SciBase and Nevisense SciBase is a global medical technology company headquartered in Stockholm, Sweden, that has developed a unique point of care platform for the non-invasive detection of skin cancer and other skin conditions. SciBase is a pioneer within augmented intelligence, combining artificial intelligence with Electrical Impedance Spectroscopy (EIS) to provide objective information that assists dermatologists and others in clinical decision-making. SciBase's products include Nevisense and Nevisense Go and to date the platform addresses the areas of melanoma detection, non-melanoma skin cancer detection and skin barrier assessment. Nevisense is the only FDA-approved device for the detection of melanoma and the only MDR-approved technology for skin cancer detection in Europe. SciBase's technology is based on more than 20 years of academic research at the Karolinska Institute in Stockholm, Sweden. For more information please visit www.scibase.com. All press-releases and financial reports can be found here : http://investors.scibase.se/en/pressreleases.
