Today, the annual general meeting of 2022 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 2021;
that SEK 202,229,730 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 2021;
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 Jvalini Dwarkasing, Diana Ferro, Matt Leavitt, Thomas Taapken and Tord Lendau 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); and
to authorize the board of directors to increase the share capital through issuance of new shares, warrants and/or convertible debentures. New issues of shares and issues of warrants and/or convertibles may occur with or without preferential rights for shareholders of the Company and may be made either in cash and/or by way of set-off or contribution in kind or otherwise be conditional. Through issuances resolved upon with support from the authorization – 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]
The information was submitted, through the agency of the contact person set out above, for publication at the time stated by SciBase's news distributor Cision upon publication of this press release.
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.
STOCKHOLM, SWEDEN, - August 9, 2022 - SciBase Holding AB ("SciBase") [STO:SCIB], a leading developer of augmented intelligence-based solutions for skin disorders, announced today that the FDA (US Food and Drug Administration) held a meeting with the Medical Devices Advisory Committee on July 28th and 29th to gather expert advice on the regulation of AI driven, skin lesion analyzers (SLAs) and Apps for skin cancer detection.
Panel members urged caution for skin cancer detection SLAs and Apps and stressed the need for more high quality research to validate these technologies. "The standards would have to be set very high for new products, especially those intended for consumers," said FDA panelist Murad Alam, MD, a dermatologist from Northwestern University, Chicago, Illinois.
The panel also considered the FDA's proposal to change the classification status of Nevisense and any new products that assist dermatologists in melanoma detection from the most stringent regulatory category, class III, to the less restrictive class II. The Panel underscored the potential risks of reclassifying these technologies and strongly recommended keeping them in the class III category. SciBase shared the same opinion as panel experts through written submissions and oral presentations. SciBase believes the current process where FDA sets very high standards and is closely involved in clinical validation study design is the most appropriate.
"We very much agree with the Panel's recommendation. Nevisense is currently the only SLA available on the market and we have gone through the very rigorous Class III PMA (Pre Market Approval) process with it's extremely high safety demands. Reclassifying this type of product to Class II would reduce the level of FDA oversight for new products entering into this space; something we believe could potentially compromise patient safety.
While the FDA is not legally bound to follow the Panel's recommendation, we believe that such an overwhelming recommendation will be difficult for the FDA to ignore. A final decision from FDA could take months or years, though it is our belief that even in the medium term a decision would not practically affect Nevisense or the market itself as stringent requirements on clinical study data would still apply.", says Simon Grant CEO SciBase.
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.
The loss after tax amounted to TSEK 9,212 (11,151).
The loss per share amounted to SEK 0.13 (0.19).
The cash flow from current operations was negative in the amount of TSEK 9,643 (9,162).
The gross margin reached 70,6% (56.3%).
Electrode sales volume increased by 60% and reached 9,550 (5,968) units. Repeat sales of electrodes to existing customers increased by 58%.
January - June in figures
Net sales amounted to TSEK 7,987 (4,821), +66%.
The loss after tax amounted to TSEK 18,948 (19,304).
The loss per share amounted to SEK 0.28 (0.34).
The cash flow from current operations was negative in the amount of TSEK 20,155 (18,635).
The gross margin reached 66,4% (54.4%).
Electrode sales volume increased by 45% and reached 19,580 (13,464) units. Repeat sales of electrodes to existing customers increased by 45%.
Important events during the quarter
Overall sales increased by 65% (+56%, before currency effects). The sales in the important US market increased within the area of skin cancer by 146% (in local currency by 104%). Sales in Germany increased by 54% (49% in local currency).
A new study performed in Germany and published online in the journal Dermato demonstrated the clinical benefits of Nevisense in day-to-day practice.
A new study published in the US demonstrated that EIS and Nevisense can significantly improve clinical decisions in the dermatology day-to-day practice, especially for less experienced clinicians. The study titled – “Diagnostic Efficacy Of Electrical Impedance Spectroscopy Versus Dermoscopy For Pigmented Skin Lesions: A Pilot Study” and authored by Dr Jonathan Ungar, Associate Director and Assistant Professor, Dermatology Department, et al at Icahn School of Medicine at Mount Sinai, New York, was published online in “SKIN-The Journal of Cutaneous medicine”.
The annual report for 2021 was published.
The AGM 2022 was held on May 18, 2022.
Important events after the end of the period
FDA expert panel in line with SciBase position to keep stringent approval level for all new skin lesion analyzers.
Financial overview
July 1 2021 -
Apr 1 - June 30
Jan 1 - June 30
June 30 2022
Jan 1 - Dec 31
THE GROUP
2022
2021
2022
2021
Rolling-12
2021
Net sales, SEK ths
3 726
2 258
7 987
4 821
14 893
11 727
Gross margin, %
70,6%
56,3%
66,4%
54,4%
62,2%
56,1%
Equity/Asset ratio, %
76,6%
87,3%
76,6%
87,3%
83,3%
82,8%
Net indebtness, multiple
0,30
0,15
0,30
0,15
0,20
0,21
Cash equivalents, SEK ths
44 577
88 192
44 577
88 192
44 577
65 607
Cashflow from operating activities, SEK ths
-9 643
-9 162
-20 155
-18 635
-41 021
-39 501
Earnings per share (before and after dilution), SEK
-0,13
-0,19
-0,28
-0,34
-0,61
-0,67
Shareholder's equity per share, SEK
0,72
1,59
0,72
1,65
1,05
1,13
Average number of shares, 000'
68 475
59 265
68 475
57 023
68 465
62 739
Number of shares at closing of period, 000'
68 475
68 236
68 475
68 236
68 475
68 475
Share price at end of period, SEK
3,41
5,52
3,41
5,52
3,41
5,52
Number of sold electrodes, pieces
9 550
5 968
19 580
13 464
35 908
29 792
Average number of employees
19
17
19
17
19
17
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 08.00 CET on August 18, 2022.
This year-end 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.
SciBase a leading developer of augmented intelligence-based solutions for skin disorders, announced today that CEO Simon Grant will present an update on the latest developments from SciBase at the Redeye Medtech & Diagnostics seminar on May 11th at 10.55 pm. The presentation will be followed by a short Q&A. The presentations are live broadcasted at https://www.redeye.se/events/825143/redeye-theme-medtech-diagnostics . The presentation will also be available at www.redeye.se and on the Company's website i n Redeye Universe.
"It has been a busy start to the year and we see an exciting year in front of us with US growth and progress with the skin barrier application.," says Simon Grant, CEO SciBase.
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.
The loss after tax amounted to TSEK 9,736 (8,153).
The loss per share amounted to SEK 0.14 (0.15).
The cash flow from current operations was negative in the amount of TSEK 10,512 (9,473).
The gross margin reached 62.8% (52.7%).
Electrode sales volume increased by 33% and reached 9,982 (7,496) units. Repeat sales of electrodes to existing customers increased by 34%.
Important events during the quarter
Overall sales increased by 66% (+58%, before currency effects). The sales in the important US market increased within the area of skin cancer by 541% (in local currency by 475%). Sales in Germany increased by 54% (49% in local currency).
SciBase Barrier technology part of major immunodermatology project - Next Generation Immunodermatology. The NGID consortium is based in the Netherlands and will run over 6 years, leveraging the expertise from several different groups across academic, clinical, and industrial research settings.
A new study from the US supporting the use of Nevisense in diagnosing melanoma was published in "SKIN – The journal of cutaneous medicine". The study shows that Nevisense provides valuable diagnostic guidance when evaluating atypical pigmented skin lesions.
SciBase further strengthened the patent portfolio as patent application: EP Application No. 18729063.0 was granted by EPO in Europe.
SciBase announced a change in the Management team and a new head of Quality and Regulatory Affairs
Important events after the end of the period
A new study performed in Germany and published online in the journal Dermato demonstrated the clinical benefits of Nevisense in day-to-day practice
Financial overview
Apr 1 2021 -
Jan 1 - Mar 31
Mar 31 2022
Jan 1 - Dec 31
THE GROUP
2022
2021
Rolling-12
2021
Net sales, SEK ths
4 260
2 562
13 425
11 727
Gross margin, %
62,8%
52,7%
58,9%
56,1%
Equity/Asset ratio, %
79,3%
79,6%
79,4%
82,8%
Net indebtness, multiple
0,26
0,26
0,26
0,21
Cash equivalents, SEK ths
54 621
31 403
54 621
65 607
Cashflow from operating activities, SEK ths
-10 512
-9 473
-40 540
-39 501
Earnings per share (before and after dilution), SEK
-0,14
-0,15
-0,66
-0,67
Shareholder's equity per share, SEK
0,88
0,70
0,75
1,13
Average number of shares, 000'
68 475
54 780
66 183
62 739
Number of shares at closing of period, 000'
68 475
54 780
68 475
68 475
Share price at end of period, SEK
4,70
4,78
4,70
5,52
Number of sold electrodes, pieces
9 982
7 496
32 278
29 792
Average number of employees
18
18
18
17
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 08.00 CET on May 12, 2022.
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.
STOCKHOLM, SWEDEN, - May 16, 2022 - SciBase Holding AB ("SciBase") [STO:SCIB], a leading developer of augmented intelligence-based solutions for skin disorders, announced today that a new study published in the US demonstrated that EIS and Nevisense can significantly improve clinical decisions in the dermatology day-to-day practice, especially for less experienced clinicians. The study titled - "Diagnostic Efficacy Of Electrical Impedance Spectroscopy Versus Dermoscopy For Pigmented Skin Lesions: A Pilot Study" and authored by Dr Jonathan Ungar, Associate Director and Assistant Professor, Dermatology Department, et al at Icahn School of Medicine at Mount Sinai, New York, was published online in "SKIN-The Journal of Cutaneous medicine".
The aim of the study was to investigate the impact Electrical Impedance Spectroscopy (EIS) has on clinical decision-making for atypical pigmented skin lesions (PSLs) when compared to other diagnostic tools such as dermoscopy. Dermatologists, dermatology residents, and medical students completed an online survey eliciting their biopsy decisions for 24 atypical PSLs of varying histopathological diagnosis. Half of the lesions from each diagnosis group were presented as a clinical image with associated dermoscopic image and the other half as a clinical image with the corresponding EIS (Nevisense) score. The study showed a significant increase in diagnostic accuracy with Nevisense, especially for respondents who reported rarely using dermoscopy. This group showed the greatest improvement in sensitivity and specificity when using EIS compared to dermoscopy.
“The study results showed that EIS may complement dermoscopy by helping a broader range of providers make improved PSL diagnostic decisions. This will ultimately improve patient care and reduce the morbidity and mortality associated with melanoma.” says Dr Ungar at Icahn School of Medicine at Mount Sinai.
"The study further demonstrates the positive impact Nevisense has in the diagnostic process for clinicians when evaluating atypical pigmented skin lesions. The study showed that the addition of the Nevisense EIS data significantly increased the accuracy of clinicians. Clinician sensitivity increased from 66% to 75% and specificity from 40% to 70% which is a significant improvement. This further supports our market development efforts for the Nevisense EIS technology in the US”, says Simon Grant CEO SciBase.
The full article can be found here: https://www.jofskin.org/index.php/skin/article/view/1568/pdf
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.
The shareholders in SciBase Holding AB (publ), reg. no. 556773-4768 (the "Company"), are hereby given notice to attend the annual general meeting at 2:00 p.m. on Wednesday 18 May 2022. The meeting will be held through postal voting only (see below).
The board of directors has, in accordance with the Swedish Act (2022:121) on temporary exceptions to facilitate the execution of general meetings in companies and other associations, decided that the annual general meeting shall be held without physical presence of shareholders, proxies and/or external parties and that the shareholders shall have only the opportunity to vote by mail prior to the annual general meeting.
The Company welcomes all shareholders to exercise their voting rights at the annual general meeting through postal voting as described below. Information on the resolutions passed at the annual general meeting will be published on Wednesday 18 May 2022, as soon as the result of the postal voting has been finally confirmed.
Notice
Shareholders wishing to participate at the annual general meeting must be entered in the shareholders' register, kept by Euroclear Sweden AB (the Swedish Central Securities Depository & Clearing Organisation), on the record day which is Tuesday 10 May 2022 and no later than on Tuesday 17 May 2022 notify the Company of their attendance by casting their postal vote in accordance with the instructions under the heading "Postal voting" below so that the postal voting form is received by Setterwalls Advokatbyrå AB no later than that day. Please note that a notification to attend the general meeting can only be done by a postal vote. A shareholder represented by proxy shall (as always) issue a power of attorney. Further instructions regarding this are available below under the heading "Proxy voting".
Nominee registered shares
In order to be entitled to participate and vote at the meeting, shareholders who have their shares registered in the name of a nominee must have their shares registered in their own name, so that the shareholder will be included in the transcription of the share register as of Tuesday 10 May 2022. Such registration may be temporary (so-called voting rights registration) and is requested to the nominee in accordance with the nominee's routines at such time in advance as the nominee determines. Voting rights registrations made by the nominee no later than Thursday 12 May 2022 will be taken into account in the preparation of the share register.
Postal voting
The shareholders may exercise their voting rights at the annual general meeting only by voting in advance, so-called postal voting, in accordance with Section 22 of the Swedish Act (2022:121) on temporary exceptions to facilitate the execution of general meetings in companies and other associations.
A special form shall be used for postal voting. The form will be available on the Company's website, http://investors.scibase.se/en/annual-general-meeting-2022. The postal voting form is considered as the notification of participation at the annual general meeting.
The completed voting form must be received by Setterwalls Advokatbyrå AB no later than Tuesday 17 May 2022. The form may be submitted by post to Setterwalls Advokatbyrå AB, Attn: Johan Tönnesen, Box 1050, 101 39 Stockholm or via e-mail to [email protected].
The shareholder may not provide special instructions or conditions in the voting form. If so, the vote (i.e. the postal vote in its entirety) is invalid. Further instructions and conditions are included in the form for postal voting. The shareholders may request in the postal voting form that a resolution on one or several of the matters on the proposed agenda below should be deferred to a so-called continued general meeting, which cannot be conducted solely by way of postal voting. Such general meeting shall take place if the annual general meeting so resolves or if shareholders with at least one tenth of all shares in the Company so requests.
Proxy voting
A shareholder represented by proxy shall issue a power of attorney which shall be dated and signed by the shareholder. If the shareholder postal votes by proxy, the power of attorney shall be enclosed to the form. If issued by a legal entity, the power of attorney shall also be accompanied by registration certificate or, if not applicable, equivalent documents of authority. Power of attorney forms for those shareholders wishing to postal vote by proxy will be available on the Company's website http://investors.scibase.se/en/annual-general-meeting-2022.
Processing of personal data
For information regarding how your personal data is processed in connection with the annual general meeting, please refer to the privacy policy on Euroclear Sweden AB's website, https://www.euroclear.com/dam/ESw/Legal/Privacy-notice-bolagsstammor-engelska.pdf.
Proposed agenda
Opening of the meeting and election of chairman of the meeting.
Preparation and approval of the voting list.
Approval of the agenda.
Election of one person who shall approve the minutes of the meeting.
Determination of whether the meeting has been duly convened.
Submission of the annual report and the auditor's report as well as of the consolidated financial statements and the auditor's report on the group.
Resolution in respect of:
adoption of the profit and loss statement and the balance sheet as well as of the consolidated profit and loss statement and the consolidated balance sheet;
allocation of the Company's results according to the adopted balance sheet; and
the members of the board of directors' and the CEO's discharge from liability.
Resolution regarding the number of members and, where applicable, deputies of the board of directors and number of auditors and, where applicable, deputy auditors.
Determination of the fees payable to the members of the board of directors and the auditors.
Election of members of the board of directors and auditor.
Resolution on principles for the appointment of a nomination committee.
Resolution on an authorisation for the board of directors to resolve upon issues of shares, warrants and convertibles.
Closing of the meeting.
The nomination committee's proposed resolutions
The nomination committee is composed of the chairman of the board of directors of the Company (i.e. Tord Lendau), Christer Jönsson (appointed by Fouriertransform), Erik Esveld (appointed by VanHerk Group) and Iraj Arastoupour. The nomination committee has presented the following proposed resolutions in relation to items 1 and 8-11 in the proposed agenda.
Item 1 - Election of chairman
Olof Reinholdsson (lawyer at Setterwalls Advokatbyrå) is proposed as chairman of the meeting, or if he is unable to attend the meeting, any other person proposed by the board of directors.
Items 8-10 - Election of and remuneration to the board of directors and auditors
The nomination committee proposes that the board of directors, until the end of the next annual general meeting, shall consist of five (5) ordinary members without deputy members. Furthermore, it is proposed that a registered accounting firm shall be elected as auditor.
The nomination committee furthermore proposes 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). It is proposed that the Company's auditor shall be paid in accordance with approved invoices.
The board of directors today consists of the following five (5) ordinary members without deputy members: Tord Lendau (chairman), Diana Ferro, Thomas Taapken, Matt Leavitt and Jvalini Dwarkasing.
The nomination committee proposes that all current board members are to be re-elected and proposes no election of new board members. Furthermore, Tord Lendau is proposed to be re-elected as chairman of the board of directors.
The registered accounting firm PricewaterhouseCoopers AB (PwC) is proposed to be re-elected as auditor. The accounting firm has informed that Magnus Lagerberg will remain as principally responsible auditor.
Additional information regarding the board members is available on the Company's website.
Item 11 - Resolution on principles for the appointment of a nomination committee
The nomination committee proposes the following decision for election of a nomination committee for the annual general meeting 2023 (same principles as the previous year). The nomination committee for the annual general meeting 2023, which shall comprise of four members, shall be appointed by way of that the chairman of the board of directors will consult with the three largest shareholders of the Company at the end of the third quarter of 2022. These shareholders will be requested to each appoint one member who, together with the chairman of the board of directors, will form the nomination committee. The composition of the nomination committee shall be publicly announced no later than six months prior to the annual general meeting. The nomination committee, whose mandate period applies until the time a new nomination committee has constituted itself, shall appoint a chairman among its members. The nomination committee shall prior to the annual general meeting 2023 prepare and submit proposals regarding the election of the chairman of the annual general meeting, the number of board members and, where applicable, deputy members, the number of auditors and, where applicable, deputy auditors, the election of board members, chairman and, where applicable, deputy members, auditor and, where applicable, deputy auditors, remuneration for the board of directors and the auditor, as well as guidelines for the appointment of the nomination committee for the following annual general meeting. The nomination committee's proposals shall be presented in the notice to a general meeting where election of board members and auditor shall take place and on the Company's website. Should a member of the nomination committee resign from its assignment, a replacement shall be sought from the shareholder that appointed the departing member. Should a shareholder that has appointed a member of the nomination committee substantially decrease its ownership in the Company, the next shareholder in size order shall, if the nomination committee so resolves, be requested to appoint a member to the nomination committee.
The board of directors' proposed resolutions
The board of directors of the Company has presented the following proposed resolutions in relation to items 2, 4, 7(ii) and 12 in the proposed agenda.
Item 2. - Preparation and approval of the voting list
The voting list that is proposed for approval is the voting list to be prepared chairman of the general meeting, based on the shareholders' register for the general meeting kept by Euroclear Sweden AB, and postal votes received, and approved by the person appointed by the meeting to approve the minutes.
Item 4. - Election of one person who shall approve the minutes of the meeting
The board of directors proposes that Erik Esveld (VanHerk Group) is to be appointed as the person verifying the minutes together with the chairman of the general meeting, or in the event that he or she is prevented from doing so, the person the board of directors appoints instead. The person appointed to verify the minutes shall, apart from approving the minutes of the general meeting together with the chairman of the general meeting, check the voting list and that the result of received votes are correctly reflected in the minutes of the general meeting.
Item 7 (ii) - Allocation of the Company's results according to the adopted balance sheet
The board of directors proposes that SEK 202,229,730 shall be carried forward in new account. Accordingly, no dividend is proposed.
Item 12 - Resolution regarding authorisation for the board of directors to resolve upon issues of shares, warrants and convertibles
The board of directors proposes that the annual general meeting resolves to authorize the board of directors to, until the next annual general meeting, on one or more occasions, decide upon issuances of new shares, issuance of warrants and/or convertibles. New issues of shares and issues of warrants and/or convertibles may occur with or without preferential rights for shareholders of the Company and may be made either in cash and/or by way of set-off or contribution in kind or otherwise be conditional. 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). The chairman of the board of directors, the managing director or a person appointed by the board of directors shall be authorized to make any minor adjustments required to register the resolution with the Swedish Companies Registration Office.
Shareholders' right to request information
The board of directors and the CEO shall, if any shareholder so requests and the board of directors believe that it can be done without material damage to the Company, provide information regarding circumstances that may affect the assessment of an item on the agenda or of the Company's, or a subsidiary's economic situation. Such duty to provide information also comprises the Company's relation to the other group companies. A request for such information shall be made to the Company in writing no later than on Sunday 8 May 2022. The information will be made available at the Company's office from Friday 13 May 2022, at the latest. The information will, from the same date, also be available on the Company's website www.scibase.com. The information will also be sent, within the same period of time, to the shareholder who has requested it and stated its address.
Majority requirements
Resolution in accordance with the board of director's proposal in accordance with item 12 on the agenda requires that the general meeting's resolution is supported by shareholders representing at least two thirds of the shares represented at the general meeting as well as of the votes cast.
Number of shares and votes in the Company
The total number of shares in the Company at the time of issuance of this notice is 68,475,107. The Company does not hold any of its own shares.
Documentation
The financial accounts and auditor's report will be kept available at the Company's office and on the Company's website www.scibase.com no later than 27 April 2022. Copies of such documents will be sent free of charge to shareholders who so request and state their postal address. The proposals of the board of directors and the nomination committee are set out in full in the notice.
Stockholm, April 2022
SciBase Holding AB (publ)
The board of directors
For more information, please contact: Simon Grant, CEO SciBase
Tel: +46 72 887 43 99
Email: [email protected]
The information was submitted, through the agency of the contact person set out above, for publication at the time stated by Scibase's news distributor Cision upon publication of this press release
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.
The information was submitted for publication, through the agency of the contact person set out above, at 09.00 CET on April 22, 2022.
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.
STOCKHOLM, SWEDEN, - April 29, 2022 - SciBase Holding AB ("SciBase") [STO:SCIB], a leading developer of augmented intelligence-based solutions for skin disorders, announced today that a new study published this week in Germany demonstrated the clinical benefits of Nevisense in day-to-day practice. The study titled - "Electrical Impedance Spectroscopy Improves Skin Cancer Detection and Reduces the Number of Biopsies" and authored by Dr Liebich et al was published online in the journal Dermato.
The study looked at the real-life clinical effectiveness of Electrical Impedance Spectroscopy (EIS) when using Nevisense to detect malignancies in an everyday clinical setting. In summary, the study clinic showed a reduction in the number of unnecessary excisions of 47%, while still detecting 100% of melanomas. Clinicians combine Nevisense with visual and dermatoscopic examinations to identify atypia in the cell structure of lesions that normally cannot be seen. The resultprovides better identification of which lesions to biopsy or excise and which lesions to leave.
“For several years, electrical impedance spectroscopy has been an essential part of the skin check procedure in my practice, so I can offer the best possible quality to my patients, with very high sensitivity on Skin Cancer, and less burden caused by unnecessary surgery. Nevisense and EIS is supporting me in making the right clinical decision and ensuring that we excise the right suspicious lesions and that we don’t miss any melanomas,” says Dr Christoph Liebich.
"This is a very positive study illustrating the clinical benefits of Nevisense in a real-life practice setting. What we see is that with the help of Nevisense close to 50% of unnecessary excisions were avoided. For some time we have seen that results in routine clinical practice are even better than in our pivotal trial, so it is encouraging to see this demonstrated in this publication.”, says Simon Grant CEO SciBase.
The full article can be found here: https://www.mdpi.com/2673-6179/2/2/4/htm
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.
The loss after tax amounted to TSEK 13,852 (9,839).
The loss per share amounted to SEK 0.20 (0.20).
The cash flow from current operations was negative in the amount of TSEK 11,709 (10,290).
The gross margin reached 52.8% (49.4%).
Electrode sales volume increased by 7% and reached 8,024 (7,492) units. Repeat sales of electrodes to existing customers increased by 12%.
The full year in figures
Net sales amounted to TSEK 11,727 (9,521).
The loss after tax amounted to TSEK 41,778 (34,989).
The loss per share amounted to SEK 0.67 (1.12).
The cash flow from current operations was negative in the amount of TSEK 39,501 (33,861).
The gross margin reached 56.1% (52.5%).
Electrode sales volume increased by 16% and reached 29,792 (25,686) units. Repeat sales of electrodes to existing customers increased by 12%.
Important events during the quarter
Overall sales increased by 28% (+34%, before currency effects). Covid-19 continues to affect sales and the market situation remains difficult to predict going forward, due to ongoing lockdowns and reduced marketing activities. The sales in the important US market increased within the area of skin cancer by 395% (in local currency by 415%). Sales in Germany decreased by 18% (-14% in local currency).
A request for a Medicare payment assignment for the Nevisense procedure was submitted to National Government Services (NGS), the Medicare Administrative Contractor with carrier jurisdiction responsibility for New York and several other states.
SciBase received an order of ten additional Nevisense systems and electrodes valued at approximately KUSD 100 from Advanced Dermatology, P.C. (AdvDermPC) in New York City.
A nominating committee for the AGM 2022 was appointed.
Important events after the end of the period
A new study from the US supporting the use of Nevisense in diagnosing melanoma was published in "SKIN – The journal of cutaneous medicine". The study shows that Nevisense provides valuable diagnostic guidance when evaluating atypical pigmented skin lesions.
SciBase announced a change in the Management team and a new head of Quality and Regulatory Affairs.
Financial overview
Oct 1 - Dec 31
Jan 1 - Dec 31
THE GROUP
2021
2020
2021
2020
Net sales, SEK ths
3 925
3 055
11 727
9 521
Gross margin, %
52,8%
49,4%
56,1%
52,5%
Equity/Asset ratio, %
82,8%
79,1%
82,8%
79,1%
Net indebtness, multiple
0,21
0,26
0,21
0,26
Cash equivalents, SEK ths
65 607
41 427
65 607
41 427
Cashflow from operating activities, SEK ths
-11 709
-10 290
-39 501
-33 861
Earnings per share (before and after dilution), SEK
-0,20
-0,20
-0,67
-1,12
Shareholder's equity per share, SEK
1,03
0,96
1,16
1,50
Average number of shares, 000'
68 475
48 707
60 827
31 287
Number of shares at closing of period, 000'
68 475
54 780
68 475
54 780
Share price at end of period, SEK
5,52
4,62
5,52
4,62
Number of sold electrodes, pieces
8 024
7 492
29 792
25 686
Average number of employees
18
17
17
16
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 08.00 CET on February 23, 2022.
Contact person: Michael Colérus, CFO. +46 70 341 34 72
For more information, please contact:
Simon Grant, CEO SciBase
Phone: +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.
