I trust that you have all had a safe and enjoyable summer. Given the high level of interest we have seen from you, our shareholders, I felt it time I update you on where we are as a Company and our plans for the near future.We are making considerable progress in transforming SciBase from a single application Company built around melanoma detection to a platform Company with applications in several different clinical areas. We believe this will build significant shareholder value. With our unique platform and AI-based applications we are expanding our product line to address new markets with a large potential. Though there are many challenges in the current Covid-19 environment, I am very proud of the progress the team is making on this journey.
The summer has been extremely busy for SciBase. We have seen a return of the market for Nevisense tests in both Germany and the US after the negative effects we saw due to Covid-19 earlier this year. In addition to this return of base business, we have made real progress with our growth projects - our new clinical applications and our new platform, Nevisense Go. All this has been under the backdrop of a massive effort to secure certification under the new European medical device regulations, `MDR' (Medical Device Regulation).
I will take you through each of these points, starting with Nevisense Go, as this is by far the topic we receive the most questions about from shareholders.
Nevisense Go - Release and next steps
I am very pleased to announce that we expect to release the first version of the Nevisense Go platform on October 29th 2020. It has taken us a little longer than expected because of the pandemic and the very resource intensive MDR process, which we will discuss below. As previously communicated, this first version will be for the assessment of the skin barrier using inbuilt AI software. It will be fully functional as an impedance measurement device like Nevisense and utilize the same electrode and business model. It will however be simpler, easier to use and significantly less expensive.
This release of Nevisense Go is aimed at Industry partners and researchers within the area of skin barrier, though our aim is for Nevisense Go to eventually support all our clinical applications. Our activities so far lead us to believe that the market potential for research and Industry partners is significant and is a good first step for the product. The product can be used to investigate the skin barrier but is not as of yet linked to any clinical indications (such as eczema or melanoma).
Nevisense Go is the culmination of more than four years of work together with KTH Royal Institute of Technology and our clinical partners SIAF in Davos, but on the other hand is just the very first step for the platform. Our focus is now to continue to develop the platform and to collect clinical data so that we can perform the regulatory work needed to release indications starting next year.
COVID-19 and the Market
The pandemic had a significant effect on our customers in Germany and New York during the second quarter, and also slowed our rollout with Advanced Dermatology and Cosmetic Surgery (ADCS) somewhat. We saw however, increased interest in our products from the beginning of June and the return of orders from existing customers. This is very positive, though in general for the industry, customers have remained hesitant to invest in new devices. Overall, the third quarter appears back on track, and this is driving our hope that we will achieve one of our goals for 2020 - profitability in the Germany market on a local basis.
The bottom line is that after a very tough period the market, customers and patients are returning.
New applications and MDR
SciBase is entering a phase where we move from a single indication (melanoma) to multiple indications by adding non-melanoma skin cancer (NMSC) and skin barrier assessment. All indications are based on the same base Electrical Impedance Spectroscopy (EIS) + AI technology, the same electrode technology, and the same business model.
The release of new applications covering these indications is closely intertwined with the introduction of the new EU medical industry regulations, MDR. A company wanting to sell in Europe must have MDR in place if they wish to approve new indications, even if MDR only becomes mandatory from May 2021.
Our NMSC application is an add-on software module for Nevisense and as such will be targeted at the same customer group as melanoma. The product is complete and is awaiting approval under MDR. The initial clinical data evaluation has been positive. When released, we expect many customers to add this functionality and hope that the combination also helps us attract new customers. Though NMSC usually has a lower risk profile than melanoma, there are many more patients with NMSC than with suspected melanoma - in Sweden for example the ratio is at least 10 to 1.
Skin Barrier assessment is actually a group of applications that are linked to diseases connected to the skin barrier. We see uses for our technology in the prediction, improved diagnosis, and management of atopic diseases such as atopic dermatitis (eczema) and food allergies. These are very common diseases, and we see a large potential. The first step as discussed above is the release of Nevisense Go for barrier measurement and we are targeting Industry partners and researchers where we are collecting data to support new barrier applications.
US progress
It was very pleasing to see the publication of two new studies in JAAD and SKIN last week from Professor Darrel Rigel's team in New York. The reader studies evaluated the impact of Nevisense information on clinicians' decision-making. Nearly 600 US clinicians performed over 25,000 evaluations comparing management decisions first using visual evaluation only, and then with the addition of Nevisense information. The results were impressive - an average improvement in sensitivity of 14% (ability to detect melanoma) and an average improvement in specificity (ability to correctly classify as benign) of over 10%.
We have installed 6 systems in clinics in Florida and Michigan with our partner Advanced Dermatology and Cosmetic Surgery. We have several further installations planned and our hope is that we can move this first phase forward over the coming weeks.
We see the current period as the beginning of the next phase in the development of SciBase as a company. We will continue to build on our melanoma business not only in Germany, but also in the US. We will start the transition from Nevisense to Nevisense Go and in doing so broaden our customer focus. And finally, we will start the transformation from a `single product company' to a company with multiple legs to stand on with the addition of NMSC and Barrier. We are making considerable progress and have laid the foundation for accelerated future growth.
About SciBase and Nevisense SciBase AB is a Swedish medical technology company, headquartered in Stockholm that has developed and sells a unique point-of-care device for evaluation of skin disorders such as skin cancer and atopic dermatitis. Its first product, Nevisense, helps doctors to detect malignant melanoma, the most dangerous type of skin cancer. Further development has led to Nevisense also being used as a tool to assess the skin barrier and inflammation. SciBase was founded by Stig Ollmar, Associate Professor at The Karolinska Institute in Stockholm, Sweden. Nevisense is based on substantial research and has achieved excellent results in the largest clinical study ever conducted on the detection of malignant melanoma. Nevisense is CE marked in Europe, has TGA approval in Australia and an FDA approval (PMA) in the United States. Nevisense is based on a method called Electrical Impedance Spectroscopy (EIS), which uses the varying electrical properties of human tissue to categorize cellular structures and thereby detect malignancies and abnormalities. SciBase is listed on First North Growth Market ("SCIB"). Further information is available at www.scibase.com
Anna Danström, SciBase's head of production and supply chain, has chosen to leave her position and accept a role at another company. Linn Olsen will replace Anna as production and supply chain manager. Linn has a broad background within production, QA and Medtech, and comes from Trimble.
"I would like to take the opportunity to thank Anna for her exceptional work at SciBase, and especially at our Uppsala facility. Anna has ensured that we have a well-functioning electrode manufacturing process and team and has also played a key role in improving our electrode gross margin. I wish Anna all the best in her future role, and welcome Linn to the team", says Simon Grant CEO SciBase.
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 AB is a Swedish medical technology company, headquartered in Stockholm that has developed and sells a unique point-of-care device for evaluation of skin disorders such as skin cancer and atopic dermatitis. Its first product, Nevisense, helps doctors to detect malignant melanoma, the most dangerous type of skin cancer. Further development has led to Nevisense also being used as a tool to assess the skin barrier and inflammation. SciBase was founded by Stig Ollmar, Associate Professor at The Karolinska Institute in Stockholm, Sweden. Nevisense is based on substantial research and has achieved excellent results in the largest clinical study ever conducted on the detection of malignant melanoma. Nevisense is CE marked in Europe, has TGA approval in Australia and an FDA approval (PMA) in the United States. Nevisense is based on a method called Electrical Impedance Spectroscopy (EIS), which uses the varying electrical properties of human tissue to categorize cellular structures and thereby detect malignancies and abnormalities. SciBase is listed on First North Growth Market ("SCIB"). Further information is available at www.scibase.com.
As many of us head into a holiday break, I thought I would send out a short update, especially aimed at keeping our newer shareholders in the loop. On the whole things are progressing well, though we have several challenges due to the pandemic.
US activity
Nevisense 3.0 has been very well received by our US customers. We continue with two main focus areas in the US: our partnership with practice groups like Advanced Dermatology and Cosmetic Surgery (ADCS) and the reimbursement process. While the situation in New York is improving all the time, the high number of COVID-19 cases in Florida is a cause for some concern as we are establishing our first pilot cluster with ADCS in central Florida. Things are going well so far, and we expect to have four sites around Orlando up and running by the end of this week, which is great to see and a good indication that we are delivering value. Working with dermatology practice groups such as ADCS is a key part of our US strategy as this allows us to reach many sites through a single channel. The reimbursement application process is progressing, and we hope to receive feedback on our application in the coming months.
We saw some good development in Q1, with repeat orders of electrodes from our New York based dermatology practice group, Advanced Dermatology, P.C. (similar name but no connection to ADCS), and we just now see the return of such orders. COVID-19 hit all New York clinics hard, but interest is clearly coming back.
New Indications, Products and MDR
Our focus internally at SciBase in Stockholm is on our new products and indications, and as part of these activities the company is working to finalize Medical Device Regulation (MDR) certification. This is mandatory from May of 2021 after being delayed a year due to the pandemic and for approval of new indications such as Non-Melanoma Skin Cancer (NMSC), MDR is a necessity. Overall things are progressing well. The product is complete and the clinical data was submitted in April, but the regulatory process has been affected by Covid. We see some delays during the second half of the year, including a one-month delay in our MDR audit due to travel restrictions. This is a somewhat fluid situation, and we will do our best to keep you informed.
Nevisense Go is our next generation platform, a hand-held version of Nevisense that uses the same electrodes and business model as the regular Nevisense. Our strategy with Nevisense Go is to start with the Barrier application and over time also add support for further and more specific applications, utilizing different AI models. Our first priority is Industry partners, and we see the potential to utilise Nevisense Go outside the specialist clinic and eventually in retail or even in the home. The first release of Nevisense Go is delayed somewhat into Q3 due to delays with MDR and at our contract manufacturer, but we are making significant progress.
Progress with Barrier
When it comes to the skin barrier application overall, things are also progressing. The method and some our clinical results were presented by Prof Cezmi Akdis in his presentation `Epithelial cell barrier and allergic diseases' at the recent digital EAACI meeting. Our methodology was also discussed by Kazunari Sugita in a review paper titled `Outside-in hypothesis revisited' published in May in the Annals of Allergy, Asthma and Immunology. The article abstract is available at https://doi.org/10.1016/j.anai.2020.05.016.
We continue to see good levels of industry interest in the combination of Nevisense Go and the barrier application. The ability to embed a neural network model into the stand-alone Nevisense Go is a unique accomplishment and I will be presenting this and other progress at the upcoming Redeye Artificial Intelligence Seminar 2020 on September 17th - see https://www.redeye.se/events/788494/artificial-intelligence-seminar-2020 for more details.
COVID-19 and the Market
The pandemic had a significant effect on our customers in Germany and New York during the second quarter. We have seen increased interest in our products in June and the beginning of July, but it is difficult to estimate how Q3 will be affected. The bottom line is that after a very tough period the market, customers and patients are coming back.
Increased interest and new Share Issue, and next steps
We were happy with the result of the share issue. The issue was considerably oversubscribed. We also saw an increased interest in the Company and our share during the second quarter with increased volumes traded resulting in us welcoming an additional ~ 1,000 shareholders and we want to thank them for their confidence in SciBase. As a result of the issue and the increased volumes traded there have been a couple of changes in our ownership. Petter Stordalen (Strawberry) has sold their shares in SciBase and we believe this is because of the pressure COVID-19 has put on their core business.
Phase 2 of our share issue involves the conversion of warrants. These warrants are currently traded using the ticker SCIB TO 1 and warrant-owners will be given the option to convert warrants to shares between October 5 - October 16 2020 at a value based on the average share price over the ten days preceding September 30th. The subscription price for a share will be from a minimum of SEK 1.00 to a maximum of SEK1.75.
We have been very busy, and we expect our high level of activity to continue through the rest of the year. Overall it feels like we are making considerable progress. The pandemic's effects remain a factor in our plans - and though we do our best to mitigate those effects, they may affect the timing of some of our activities. Internally our focus is very much on the new products and externally we are heartened by a return of our core Private Dermatologist market.
About SciBase and Nevisense SciBase AB is a Swedish medical technology company, headquartered in Stockholm that has developed and sells a unique point-of-care device for evaluation of skin disorders such as skin cancer and atopic dermatitis. Its first product, Nevisense, helps doctors to detect malignant melanoma, the most dangerous type of skin cancer. Further development has led to Nevisense also being used as a tool to assess the skin barrier and inflammation. SciBase was founded by Stig Ollmar, Associate Professor at The Karolinska Institute in Stockholm, Sweden. Nevisense is based on substantial research and has achieved excellent results in the largest clinical study ever conducted on the detection of malignant melanoma. Nevisense is CE marked in Europe, has TGA approval in Australia and an FDA approval (PMA) in the United States. Nevisense is based on a method called Electrical Impedance Spectroscopy (EIS), which uses the varying electrical properties of human tissue to categorize cellular structures and thereby detect malignancies and abnormalities. SciBase is listed on First North Growth Market ("SCIB"). Further information is available at www.scibase.com
Stockholm, Sweden and New York, USA - August 18, 2020 - SciBase Holding AB ("SciBase") [STO:SCIB], a leading developer of augmented intelligence-based solutions for skin disorders, announced today that Nevisense will be included in a large clinical study initiated by The Ronald O. Perelman Department of Dermatology clinic at NYU Langone Health.
The SpotCheck study will investigate the use of Nevisense as a point-of-care diagnostic tool to assist with skin cancer detection in a remote setting such as a non-specialist practice or pharmacy. The study will evaluate how Nevisense can help providers assess patients' irregular moles in such locations, and if successful will help improve access for patients to technology for the early detection of melanoma.
David Polsky, MD, PhD., the Alfred W. Kopf, M.D. Professor of Dermatologic Oncology at NYU Langone Health and Perlmutter Cancer Center will serve as the Primary Investigator for the study. "We are very interested in developing new methods to extend expert skin cancer diagnostic services to communities lacking access to in-person specialist care. We believe that Nevisense can help improve the accuracy of visual diagnosis in a telemedicine-based system", says Dr. Polsky who is also Director of its Pigmented Lesion Section in the Ronald O. Perelman Department of Dermatology and a professor in the Department of Pathology at NYU Langone.
Simon Grant, CEO of SciBase, stated, "We are delighted that NYU has selected Nevisense for this very important study. There is clearly a need for improved tools for non-specialists to assess atypical pigmented lesions. The objective data Nevisense provides may effectively help in remote settings such as pharmacies, and not only provide much needed support for clinicians and patients but open up a significant new opportunity for SciBase."
For more information, please contact: Simon Grant, CEO SciBase
Tel: +46 72 887 43 99
Email: [email protected]
For more information, please contact: Avanza
Tel: +46 8 409 421 20
Email: [email protected]
About SciBase and Nevisense SciBase AB is a Swedish medical technology company, headquartered in Stockholm that has developed and sells a unique point-of-care device for evaluation of skin disorders such as skin cancer and atopic dermatitis. Its first product, Nevisense, helps doctors to detect malignant melanoma, the most dangerous type of skin cancer. Further development has led to Nevisense also being used as a tool to assess the skin barrier and inflammation. SciBase was founded by Stig Ollmar, Associate Professor at The Karolinska Institute in Stockholm, Sweden. Nevisense is based on substantial research and has achieved excellent results in the largest clinical study ever conducted on the detection of malignant melanoma. Nevisense is CE marked in Europe, has TGA approval in Australia and an FDA approval (PMA) in the United States. Nevisense is based on a method called Electrical Impedance Spectroscopy (EIS), which uses the varying electrical properties of human tissue to categorize cellular structures and thereby detect malignancies and abnormalities. SciBase is listed on First North Growth Market ("SCIB"). Further information is available at www.scibase.com.
The loss after tax amounted to TSEK 8,864 (10,613).
The loss per share amounted to SEK 0.38 (0.64).
The cash flow from current operations was negative in the amount of TSEK 8,704 (9,900).
The gross margin reached 55.7% (53.3%).
Electrode sales volume decreased by 18% and reached 4,672 (5,712) units. Repeat sales of electrodes to existing customers decreased by 22%.
The first half-year in figures
Net sales amounted to TSEK 4,179 (4,536).
The loss after tax amounted to TSEK 17,800 (19,520).
The loss per share amounted to SEK 0.89 (1.17).
The cash flow from current operations was negative in the amount of TSEK 16,597 (18,850).
The gross margin reached 54.7% (52.9%).
Electrode sales volume decreased by 4% and reached 11,270 (11,792) units. Repeat sales of electrodes to existing customers decreased by 8%.
Important events during the quarter
The Covid-19 pandemic started to affect SciBase from mid-March and continued through the second quarter. Sales in the company's key market Germany were affected and decreased by 25% in the quarter, and overall sales decreased by 23%. Customer interest and sales seems to be returning to normal from the end of Q2.
SciBase received FDA approval for Nevisense 3.0.
SciBase entered into a partnership agreement with the Advanced Dermatology and Cosmetic Surgery group (ADCS), the single largest dermatology network in the US with over 150 practices. The first systems were installed in Florida in June.
SciBase rights offer was heavily oversubscribed raising net MSEK 19.3 (after issue costs).
SciBase submitted a reimbursement code application in the US.
Anna Danström, SciBase's head of production and supply chain chose to leave her position and accept a role at another company.
Extraordinary general shareholders' meeting was held on April 29th approving the Boards decision regarding the rights offering.
The AGM was held on June 17th, 2020.
The annual report for 2019 was published on April 5th.
Important events after the end of the period
Nevisense selected for `SpotCheck' remote melanoma detection evaluation study by The Ronald O. Perelman Department of Dermatology at NYU Langone Health in New York.
July 1 2019 -
Apr 1 - Jun 30
Jan 1 - Jun 30
Jun 30 2020
Jan 1 - Dec 31
THE GROUP
2020
2019
2020
2019
Rolling-12
2019
Net sales, SEK ths
1 683
2 168
4 179
4 536
8 919
9 276
Gross margin, %
55,7%
53,3%
54,7%
52,9%
55,5%
54,5%
Equity/Asset ratio, %
69,2%
74,5%
69,2%
74,5%
72,4%
69,4%
Net indebtness, multiple
0,44
0,34
0,44
0,34
0,38
0,44
Cash equivalents, SEK ths
30 450
46 772
30 450
46 772
30 450
26 456
Cashflow from operating activities, SEK ths
-8 704
-9 900
-16 597
-18 850
-35 703
-37 956
Earnings per share (before and after dilution), SEK
-0,38
-0,64
-0,89
-1,17
-2,07
-2,38
Shareholder's equity per share, SEK
1,44
3,10
1,68
3,10
2,32
1,93
Average number of shares, 000'
23 265
16 618
19 942
16 618
18 280
16 618
Number of shares at closing of period, 000'
36 560
16 618
36 560
16 618
36 560
16 618
Share price at end of period, SEK
2,44
4,34
2,44
4,34
2,44
4,36
Number of sold electrodes, pieces
4 672
5 712
11 270
11 792
23 202
23 724
Average number of employees
16
18
16
18
18
18
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 20, 2020.
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 AB is a Swedish medical technology company, headquartered in Stockholm that has developed and sells a unique point-of-care device for evaluation of skin disorders such as skin cancer and atopic dermatitis. Its first product, Nevisense, helps doctors to detect malignant melanoma, the most dangerous type of skin cancer. Further development has led to Nevisense also being used as a tool to assess the skin barrier and inflammation. SciBase was founded by Stig Ollmar, Associate Professor at The Karolinska Institute in Stockholm, Sweden. Nevisense is based on substantial research and has achieved excellent results in the largest clinical study ever conducted on the detection of malignant melanoma. Nevisense is CE marked in Europe, has TGA approval in Australia and an FDA approval (PMA) in the United States. Nevisense is based on a method called Electrical Impedance Spectroscopy (EIS), which uses the varying electrical properties of human tissue to categorize cellular structures and thereby detect malignancies and abnormalities. SciBase is listed on First North Growth Market ("SCIB"). Further information is available at www.scibase.com.
Stockholm, June 15th, 2020 - SciBase, a global healthcare company with a platform technology enabling innovative products for skin disorders such as skin cancer and atopic dermatitis, today announces that the company has submitted a reimbursement code application for its melanoma application to the Centers for Medicare & Medicaid Services (CMS) in the US.
CMS oversees the administration of medical procedures within Medicare and Medicaid, and their codes are also utilized by third-party payers. Medicare covers healthcare for the elderly and Medicaid covers uninsured patients.
"The SciBase team has delivered another important milestone and made significant progress in the US, positioning us for long-term sustainable growth. We are pleased that we have been able to submit our reimbursement code application to CMS without any delays given the challenges with the Covid-19 situation. The Medicare population is of particular interest to SciBase, given the higher rates of melanoma in the elderly. We continue to target 2021 for the first regional reimbursement coverage in the US.", says Simon Grant CEO SciBase.
SciBase has recently accelerated its activities delivering on significant milestones for its shareholders marking a step change in the speed in which the Nevisense 3.0 is capturing market acceptance and share in our focus markets, Germany and the US.
Nevisense 3.0 was launched in Germany in late 2018 and delivered greatly improved clinical workflow, test throughput and customer satisfaction.
In November of the same year, new clinical guidelines were published supporting the use of Nevisense in the evaluation of atypical lesions by Onkoderm (a German dermatology organization for skin cancer prevention and therapy). The launch of Nevisense 3.0, together with inclusion in German guidelines, contributed to sales growth of more than 30% in 2019 in Germany, driven by a 50% increase in the number patients tested.
Following the launch of Nevisense 3.0 in Germany, the Company's sales increased six quarters in a row (compared with corresponding period the previous year).
SciBase received FDA approval for Nevisense 3.0 in April 2020, and the Company now offers the third generation of Nevisense on the US market.
In May 2020, a collaboration agreement between SciBase and the US largest dermatology chain, Advanced Dermatology and Cosmetic Surgery group (ADCS), was also initiated.
For more information, please contact:
Simon Grant, CEO SciBase
Tel: +46 72 887 43 99
Email: [email protected]
About SciBase and Nevisense SciBase AB is a Swedish medical technology company, headquartered in Stockholm that has developed and sells a unique point-of-care device for evaluation of skin disorders such as skin cancer and atopic dermatitis. Its first product, Nevisense, helps doctors to detect malignant melanoma, the most dangerous type of skin cancer. Further development has led to Nevisense also being used as a tool to assess the skin barrier and inflammation. SciBase was founded by Stig Ollmar, Associate Professor at The Karolinska Institute in Stockholm, Sweden. Nevisense is based on substantial research and has achieved excellent results in the largest clinical study ever conducted on the detection of malignant melanoma. Nevisense is CE marked in Europe, has TGA approval in Australia and an FDA approval (PMA) in the United States. Nevisense is based on a method called Electrical Impedance Spectroscopy (EIS), which uses the varying electrical properties of human tissue to categorize cellular structures and thereby detect malignancies and abnormalities. SciBase is listed on First North Growth Market ("SCIB"). Further information is available at www.scibase.com.
Today, the annual general meeting of 2020 was held in SciBase Holding AB (publ) (the "Company" or "SciBase"). Below follows a summary of the resolutions passed at the annual general meeting (all in accordance with the proposals presented in the notice to attend the meeting kept available at the Company's website www.scibase.com).
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 2019;
that the Company's accumulated profits amounting to SEK 98,878,721 should be carried forward in new account and that no dividend shall be paid for the financial year 2019;
to grant the board members, including the board member who resigned during the financial year, and the CEO discharge from liability for the financial year 2019;
that the board of directors shall consist of four 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 amount to SEK 200,000 to the chairman and SEK 150,000 to each external board member who is not employed by a major shareholder of 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 re-elect Diana Ferro, Thomas Taapken and Tord Lendau and to new-elect Barbro Fridén 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);
on an authorization for the board of directors to increase the share capital through issuance of new shares, warrants and/or convertible debentures through which the Company's share capital may be increased by an amount corresponding to not more than 20 per cent of the share capital after such issue(s); and
on changes to the Company's articles of association (i) regarding the prerequisites for participating in general meetings and (ii) by introducing a provision on the collection of proxy forms and postal voting.
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 AB is a Swedish medical technology company, headquartered in Stockholm that has developed and sells a unique point-of-care device for evaluation of skin disorders such as skin cancer and atopic dermatitis. Its first product, Nevisense, helps doctors to detect malignant melanoma, the most dangerous type of skin cancer. Further development has led to Nevisense also being used as a tool to assess the skin barrier and inflammation. SciBase was founded by Stig Ollmar, Associate Professor at The Karolinska Institute in Stockholm, Sweden. Nevisense is based on substantial research and has achieved excellent results in the largest clinical study ever conducted on the detection of malignant melanoma. Nevisense is CE marked in Europe, has TGA approval in Australia and an FDA approval (PMA) in the United States. Nevisense is based on a method called Electrical Impedance Spectroscopy (EIS), which uses the varying electrical properties of human tissue to categorize cellular structures and thereby detect malignancies and abnormalities. SciBase is listed on First North Growth Market ("SCIB"). Further information is available at www.scibase.com.
The nation's premier dermatology group begins rollout of Nevisense technology to examine patients with irregular moles suspicious of melanoma
Stockholm, Sweden and Maitland, Florida, - June 23, 2020 - SciBase Holding AB ("SciBase") [STO:SCIB], a leading developer of augmented intelligence-based solutions for skin disorders, announced today that it has installed the first two Nevisense Systems at Advanced Dermatology and Cosmetics Surgery ("ADCS") - the nation's premier dermatology group. The Nevisense systems are now operational at ADCS' Windermere, Florida location led by Dr. Bill Steffes. This is the first of several sites planned to offer Nevisense as part of a joint-partnership rollout this year.
Based in Maitland, Florida, Advanced Dermatology and Cosmetic Surgery is the nation's leading providers of dermatological services with over 150 sites of care located across 14 states. "We take pride in providing our patients with access to the most advanced technology for the earliest detection of melanoma, when the disease is at its most curable stage. "Technological advances like Nevisense will not only improve outcomes for our patients, but also change the landscape for the future of skin cancer detection and we are thrilled to be a part of this advancement," said Dr. Matt Leavitt, founder and CEO of Advanced Dermatology and Cosmetic Surgery.
"This is a terrific first step in our collaboration with ADCS after their decision to adopt our advanced skin cancer detection solutions. Offering ADCS providers such as Dr. Bill Steffes state-of-the art technology means they will have more management options, helping them improve patient care and outcomes," said Simon Grant, Chief Executive Officer of SciBase. "Having the nation's leading dermatology group, such as ADCS, adopt Nevisense, is a reflection of the increasing level of interest we see for SciBase's skin disorders solutions" added Grant.
For more information, please contact:
Simon Grant, CEO SciBase
Tel: +46 72 887 43 99
Email: [email protected]
About SciBase and Nevisense SciBase AB is a Swedish medical technology company, headquartered in Stockholm that has developed and sells a unique point-of-care device for evaluation of skin disorders such as skin cancer and atopic dermatitis. Its first product, Nevisense, helps doctors to detect malignant melanoma, the most dangerous type of skin cancer. Further development has led to Nevisense also being used as a tool to assess the skin barrier and inflammation. SciBase was founded by Stig Ollmar, Associate Professor at The Karolinska Institute in Stockholm, Sweden. Nevisense is based on substantial research and has achieved excellent results in the largest clinical study ever conducted on the detection of malignant melanoma. Nevisense is CE marked in Europe, has TGA approval in Australia and an FDA approval (PMA) in the United States. Nevisense is based on a method called Electrical Impedance Spectroscopy (EIS), which uses the varying electrical properties of human tissue to categorize cellular structures and thereby detect malignancies and abnormalities. SciBase is listed on First North Growth Market ("SCIB"). Further information is available at www.scibase.com.
About Advanced Dermatology and Cosmetic Surgery
Advanced Dermatology and Cosmetic Surgery is the largest dermatology practice in the country. We are committed to providing comprehensive and unparalleled dermatologic and aesthetic care in a welcoming and engaging environment, seeking to make each patient experience unique. We strive to combine the best of the art of medicine with the latest advances in research and technology in formulating individualized treatment plans to achieve the desired result with superior patient safety and privacy standards.
To learn more about Advanced Dermatology, visit www.advancedderm.com or call 1-866-400-DERM.
I trust and hope that you are all well in these trying times. I'm very thankful that the team at SciBase has come through this unscathed so far. At the same time the landscape of our family life and our work life has undergone real changes in the recent months and I expect some of these changes are here to stay.
I, perhaps foolishly, thought that the activity levels would come down somewhat due to Covid-19. How wrong I was! We have been, and continue to be, very busy with a number of exciting projects.
But first a bit about our customers. Our two focus markets are Germany and the US - and in the US we have been until now concentrated in the Northeast and especially the New York area. Both have been significantly affected by the pandemic, and New York especially so. Many practices are opening now, but with reduced hours and reduced patient numbers. Aesthetic procedures such as botox are for the most part halted, but medical procedures such as skin cancer checks are returning. It will take some time to return to a new normal, but the process to restart business is underway.
So what has kept us so busy? I'd like to run through some of the recent milestones and key projects we are working on.
Germany
Even though Covid-19 significantly affected the Q1 sales in Germany, we were extremely close to breakeven in Germany in Q1. This is due to a continuation of increased electrode use and sales we saw in 2019 and customer support cost savings. Nevisense 3.0 has dramatically improved usability for customers so that the test is easier to integrate into their patient workflow and this has driven test usage. On the other hand, Nevisense 3.0 requires much less training and support which has resulted in reduced staff costs. Breaking even in Germany is important because it means we can concentrate our investments on the other two parts of our strategy - the US and our new applications.
Progress in the US (finally!)
Within medtech there is a saying that `if you haven't made it in the US, you haven't made it'. It is a fantastic market once a product is established, but it is a notoriously tough market to penetrate and the reimbursement system is by far the most important and complex I have encountered. It has taken much longer than we had hoped, but we have reached a few key milestones.
Firstly, after an intensive 11 month process, the FDA has approved Nevisense 3.0. That it takes so long is to do with the fact that melanoma is considered a high -risk application and therefore the controls are stringent. So stringent in fact that we are the only device approved on the US market for melanoma detection. We think that Nevisense 3.0 is essential for our success in the US where patient throughput and efficiency are even more critical than Europe.
We were also very pleased to announce our collaboration partnership with the Advanced Dermatology and Cosmetic Surgery group (ADCS) last week. As the largest US network with over 150 clinics across the US, ADCS is a great partner and this is a significant opportunity for both companies. The driver for ADCS was best expressed by Matt Leavitt the CEO when he said `I want to bring more science into Dermatology'. They also have a company-wide focus on the early detection of skin cancer, so the fit with SciBase is excellent. More news will follow as we roll out the pilot phase in the coming weeks and months.
Otherwise, we saw sales traction and a good increase in usage from our US customers in Q4 and the beginning of Q1. With the effect of Covid, sales activities are reduced, so we have taken the opportunity to focus on our reimbursement process which continues to move forward, albeit more slowly than we would want.
Same technology, new products
The core of our products is combination of Electrical Impedance spectroscopy (EIS) and Artificial Intelligence (AI). Many companies talk about AI, but we are the first company within Dermatology and one of only a handful of companies globally to actually launch an AI-driven medical product into the market. Around 100,000 patients have been successfully tested with our EIS and AI combination.
Development-wise we are working on two new product areas. Firstly, we are taking the same core electrode technology and EIS methodology and developing new AI algorithms that support new and exciting clinical applications. In other words, we are reusing the same basic measurement technology we have developed over the last 15 years and building new software analyses that provide clinical value in new clinical areas. Those two areas are non-melanoma skin cancer and skin barrier assessment. Both these applications have potential at least as large as melanoma and I see the skin barrier application especially as an exciting product. If you are interested in learning more about these areas I recommend that you visit our website or take a look at the following link from our AI partner Peltarion [https://peltarion.com/blog/applied-ai/scibase].
Secondly, we are very nearly complete with a revolutionary new product called Nevisense Go. Nevisense Go is a miniaturized, handheld version of Nevisense. The product provides completely self-contained measurement of EIS and AI-based evaluation of those measurements. The first application for Nevisense Go is the measurement of skin barrier function, but eventually all applications can be supported. The possibilities for this product are many. Being smaller, much less expensive and easier to use, Nevisense Go has real potential outside the dermatology clinic. We have a promising level of interest from industry for this product, and that will be our initial focus. I look forward to sharing more news on this as we near product completion.
So as you can see, there is a lot going on. Our goal is to do as much as we can now so that when the market comes back we are `firing on all cylinders'. We have a good team and I am really proud of what they continue to achieve under difficult circumstances. Stay safe and I look forward to seeing you virtually or otherwise during the upcoming presentations of the company to support our new financing round. More information is available at [http://investors.scibase.se/en] if you are interested in becoming a shareholder.
About SciBase and Nevisense SciBase AB is a Swedish medical technology company, headquartered in Stockholm that has developed and sells a unique point-of-care device for evaluation of skin disorders such as skin cancer and atopic dermatitis. Its first product, Nevisense, helps doctors to detect malignant melanoma, the most dangerous type of skin cancer. Further development has led to Nevisense also being used as a tool to assess the skin barrier and inflammation. SciBase was founded by Stig Ollmar, Associate Professor at The Karolinska Institute in Stockholm, Sweden. Nevisense is based on substantial research and has achieved excellent results in the largest clinical study ever conducted on the detection of malignant melanoma. Nevisense is CE marked in Europe, has TGA approval in Australia and an FDA approval (PMA) in the United States. Nevisense is based on a method called Electrical Impedance Spectroscopy (EIS), which uses the varying electrical properties of human tissue to categorize cellular structures and thereby detect malignancies and abnormalities. SciBase is listed on First North Growth Market ("SCIB"). Further information is available at www.scibase.com.
The shareholders of SciBase Holding AB (publ), reg. no. 556773-4768, (hereinafter the "Company") are hereby invited to the Annual General Meeting to be held on Wednesday June 17, 2020 at 4.00 p.m. CET at Setterwalls Advokatbyrå's offices with address at Sturegatan 10 in Stockholm. Registration for the meeting commences 30 minutes prior to the opening of the meeting.
Registration
Shareholders who wish to attend the Annual General Meeting must be recorded in the share register kept by Euroclear Sweden AB on the record date which is Thursday June 11, 2020 and notify the Company of their intention to attend no later than the same day (i.e. Thursday June 11, 2020). Notice of attendance is made in writing to SciBase Holding AB (publ), P.O. Box 3337, SE-103 67 Stockholm, Sweden, or by e-mail to [email protected] or by phone +46-8-410 620 00. The notice of attendance shall include name, personal or corporate ID number, address and phone number. The same dates, addresses, and formal requirements apply for notifying the Company of any accompanying advisors. Powers of attorneys, certificates of incorporation and other documents of authorization must be presented at the Annual General Meeting, but can preferably be sent to the Company in connection with the notice of attendance.
Special procedure due to the spread of coronavirus
In light of the spread of the coronavirus, the Board of Directors has decided to implement certain precautionary measures for the extraordinary general meeting on June 17, 2020 in order to ascertain the well-being of the Company's shareholders' as well as the opportunity for them to exercise their rights at the general meeting.For this reason, the timeframe for the general meeting will be kept a minimum, without restricting the shareholders' rights. No food or beverage will be served in connection with the general meeting and representatives of the Board of Directors, the senior management, and the auditor of the Company do not intend to attend physically, but only through telephone.
Voting by proxy
Considering the current situation, the shareholders are asked to consider the possibility not to attend the meeting in person and instead attend by proxy. The Swedish Parliament has adopted a temporary legislation, which from April 15, 2020 provides Swedish limited companies increased possibilities to collect proxies to facilitate general meetings. With support of this temporary legislation, the Board of Directors of SciBase Holding AB (publ) has resolved to provide the shareholders with a special proxy form for exercise of voting rights. Instead of attending the general meeting in person, a shareholder may use the proxy form to authorize representatives of SciBase Holding AB (publ) and Setterwalls Advokatbyrå AB to vote for their shares at the general meeting in accordance with the shareholder's instructions. The proxy form can be downloaded http://investors.scibase.se/en/annual-general-meeting-2020.
Nominee registered shares
Shareholders whose shares are registered in the names of nominees must temporarily register the shares in their own name in order to be entitled to attend the Annual General Meeting (so called voting registration). In order for such voting registration to be completed as per Thursday, June 11, 2020 the shareholders must inform their nominees well before this date.
Proxy
A shareholder's rights at the meeting may be exercised by a proxy empowered by a power of attorney. The power of attorney shall be in writing, dated and signed and must not be older than five years. The original power of attorney must be presented at the meeting. Those representing a legal person must also present a certificate of registration or the similar showing the authorized signatories. A proxy form is available on the Company's website, www.scibase.com.
Processing of personal data
For information regarding how your personal data is processed in connection with the 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.
Drawing up and approval of the voting list.
Approval of the agenda.
Election of one person to verify the minutes.
Determination as to whether the meeting has been duly convened.
Presentation of the annual report and the auditor's report on the annual report and the consolidated annual report and the auditor's report on the consolidated annual report.
Resolutions regarding:
adoption of the income statement and balance sheet and the consolidated income statement and consolidated balance sheet;
allocation of the Company's result according to the adopted balance sheet; and
discharge from liability for the members of the Board of Directors and the Managing Director.
Resolution regarding the number of members and, where applicable, deputies of the Board of Directors and number of auditors and, where applicable, deputy auditors.
Resolution regarding the remuneration for the Board of Directors and auditor.
Election of Board of Directors and auditor.
Resolution regarding appointment of Nomination Committee.
Resolution regarding authorisation for the Board of Directors to resolve upon issues of shares, warrants and convertibles.
Resolution on changes to the articles of association regarding the prerequisites for participating in general meetings.
Resolution on changes to the articles of association by introducing a provision on the collection of proxy forms and postal voting.
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), Frederick Johansson (appointed by SEB Venture Capital), Filip Petersson (appointed by SEB pensionsstiftelse) and Christer Jönsson (appointed by Fouriertransform). 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 of the meeting
The Nomination Committee proposes that Attorney-at-law Olof Reinholdsson (Setterwalls Advokatbyrå) is appointed chairman of the meeting.
Item 8 - Resolution regarding the number of members and, where applicable, deputies of the Board of Directors and number of auditors and, where applicable, deputy auditors
The Board of Directors today consists of the following three (3) ordinary members without deputy members: Tord Lendau (chairman), Thomas Taapken and Diana Ferro. It is proposed that the Board of Directors shall consist of four (4) ordinary members without deputy members for the period until the end of the next Annual General Meeting. Furthermore, it is proposed that a registered accounting firm shall be elected as auditor.
Item 9 - Resolution regarding the remuneration for the Board of Directors and auditor.
The Nomination Committee proposes that a fee of SEK 200,000 shall be paid to the Chairman of the Board of Directors and SEK 150,000 to external members of the Board of Directors who are not employed by a larger shareholder in the Company.
Fees to the Company's auditor shall be paid in accordance with approved invoices.
Item 10 - Election of members, deputies and Chairman of the Board of Directors and auditor
The Nomination Committee proposes election of the Board of Directors and auditor for the period until the end of the next Annual General Meeting, as follows:
Barbro Fridén, born 1965, is proposed as new member of the Board of Directors. Barbro has a M.D. from Umeå University and PhD in Medicine, University of Gothenburg. Barbro is a board member of companies including Getinge AB (publ), Apoteket AB, Helsa AB and Sophiahemmet, and has previously been a board member in companies like Vitrolife AB, and has held leading positions in healthcare such as CEO of Sheikh Khalifa Medical City, United Arab Emirates, and CEO of Sahlgrenska University Hospital. Barbro holds no shares or share-related instruments in SciBase and is independent in relation to the company and company management and in relation to the company's major shareholders.
Board members:
Diana Ferro (re-election)
Thomas Taapken (re-election)
Tord Lendau (re-election)
Barbro Fridén (new-election)
Chairman:
Tord Lendau (re-election)
Auditor:
Re-election of the chartered auditing firm PricewaterhouseCoopers AB (PwC), with Magnus Lagerberg as responible auditor.
Item 11 - Resolution regarding appointment of Nomination Committee
The Nomination Committee proposes the following decision for election of a Nomination Committee for the Annual General Meeting 2021 (same principles as the previous year):
The Nomination Committee for the Annual General Meeting 2021, 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 2020. 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 2021 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 7(ii), and 12-14 in the proposed agenda.
Item 7 (ii) - Resolution regarding allocation of the Company's result according to the adopted balance sheet
The Board of Directors proposes that the result for the year is allocated so that SEK 98,878,721 is carried forward. No dividend to the shareholders is thus 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 authorise 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. 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 authorised to make any minor adjustments required to register the resolution with the Swedish Companies Registration Office.
Item 13 - Resolution on changes to the articles of association regarding the prerequisites for participating in shareholders' meetings
The Board of Directors proposes that the Annual General Meeting resolves to change the articles of association regarding the prerequisites for participating in shareholders' meetings. The Company's articles of association only exist in Swedish language. The below extract and proposed new wording are unofficial translations with the only aim to inform non-Swedish speaking shareholders of the proposed changes.
The following wording in § 9 is proposed to be changed: "Shareholders wishing to participate in general meetings must be listed as shareholder in a printout or other presentation of the entire share register reflecting the circumstances five weekdays before the general meeting and notify the company no later than 4 p.m. on the date specified in the notice of the general meeting. The last mentioned date may not be a Sunday, other public holiday, Saturday, Midsummer's Eve, Christmas Eve or New Year's Eve and may not occur earlier than the fifth weekday before the general meeting". It is proposed that said provision is changed to the following new wording: "Shareholders wishing to participate in shareholders' meetings must notify the company no later than the date specified in the notice of the shareholders' meeting". The change to § 9 of the articles of association is proposed by reason of the right to participate at the general meeting being regulated by the Swedish Companies Act (2005: 551) and therefore does not need to be part of the articles of association, and that an expected legislative change in 2020 will lead to the current wording being contrary to law. The Chairman of the Board of Directors, the Managing Director or a person appointed by the Board of Directors shall be authorised to make any minor adjustments required to register the resolution with the Swedish Companies Registration Office.
Item 14 - Resolution on changes to the articles of association by introducing a provision on the collection of proxy forms and postal voting
The Board of Directors proposes that the Annual General Meeting resolves on changes to the articles of association by introducing a new provision (a new section 11, whereby the current sections 11 and 12 become sections 12 and 13) allowing the Board of Directors to collect proxy forms at the Company's expense and, prior to a general meeting, resolve that shareholders shall have the option to exercise their voting rights by means of postal voting, pursuant to the procedure stated the Swedish Companies Act. The Company's articles of association only exist in Swedish language. The below proposed new wording is an unofficial translation with the only aim to inform non-Swedish speaking shareholders of the proposed changes.
The proposed new section 11 shall have the heading "Collection of proxy forms and postal voting", and the following wording: "The board of directors may collect proxies at the company's expense pursuant to the procedure stated in Chapter 7, section 4, second paragraph of the Swedish Companies Act. The board of directors may also, prior to a general meeting, resolve that shareholders shall have the option to exercise their voting rights by means of postal voting pursuant to the procedure stated in Chapter 7, section 4 a, second paragraph of the Swedish Companies Act". The hairman of the Board of Directors, the Managing Director or a person appointed by the Board of Directors shall be authorised to make any minor adjustments required to register the resolution with the Swedish Companies Registration Office.
Information at the Annual General Meeting
Upon request by any shareholder and where the Board of Directors believes that such may take place without significant harm to the Company, the Board of Directors and the Managing Director should provide information at the Annual General Meeting in respect of any circumstances which may affect the assessment of a matter on the agenda, and any circumstances which may affect the assessment of the Company's or a subsidiary's financial position and as regards the Company's relationship to other group companies.
Majority requirements
Resolution in accordance with items 12-14 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
At the time of the issuance of this notice, the total number of shares and votes in the Company amounted to 16,618,101.
Documents
The financial statements and auditor's report will be available at the Company's offices and at the Company's website www.scibase.com. Copies of the aforementioned documents will also be sent by post to shareholders who so request and provide their postal addresses. The proposals of the Board of Directors and the Nomination Committee are set out in full in the notice.
Stockholm in May 2020
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 AB is a Swedish medical technology company, headquartered in Stockholm that has developed and sells a unique point-of-care device for evaluation of skin disorders such as skin cancer and atopic dermatitis. Its first product, Nevisense, helps doctors to detect malignant melanoma, the most dangerous type of skin cancer. Further development has led to Nevisense also being used as a tool to assess the skin barrier and inflammation. SciBase was founded by Stig Ollmar, Associate Professor at The Karolinska Institute in Stockholm, Sweden. Nevisense is based on substantial research and has achieved excellent results in the largest clinical study ever conducted on the detection of malignant melanoma. Nevisense is CE marked in Europe, has TGA approval in Australia and an FDA approval (PMA) in the United States. Nevisense is based on a method called Electrical Impedance Spectroscopy (EIS), which uses the varying electrical properties of human tissue to categorize cellular structures and thereby detect malignancies and abnormalities. SciBase is listed on First North Growth Market ("SCIB"). Further information is available at www.scibase.com.
