Shareholders of SciBase Holding AB (publ), reg. no. 556773-4768 (the "Company"), are hereby summoned to an extraordinary general meeting to be held on 13 May 2024 at 09.00 CEST at Advokatfirman Schjødt, Hamngatan 27, in Stockholm. The registration to the meeting will open at 08.30 CEST.
This notice is a translation of a Swedish notice and in case of any deviations between the language versions, the Swedish version shall prevail.
Right to participate and notice of participation
A shareholder who wishes to participate at the extraordinary general meeting must:
(i)
be recorded in the share register maintained by Euroclear Sweden AB on 2 May 2024, and
(ii)
notify the Company of its intention to participate by post to Advokatfirman Schjødt, Box 715, 101 33 Stockholm, or by e-mail to [email protected], no later than 6 May 2024.
Nominee-registered shares
Shareholders whose shares are held in the name of a nominee must, in order to be able to participate at the general meeting and exercise their voting right, temporarily re-register the shares in their own name in the share register maintained by Euroclear Sweden AB (so-called voting right registration). When preparing the share register for the general meeting per the record date, 2 May 2024, voting right registrations completed by the nominee no later than 6 May 2024 will be considered. This means that the shareholders must request that the nominee completes such voting right registration well in advance of 6 May 2024.
Participation by proxy
Shareholders represented by proxy must issue a power of attorney for the proxy. If the power of attorney is issued by a legal entity, a copy of the legal entity's certificate of registration, showing who has authority to issue the power of attorney, must be enclosed. The original version of the power of attorney and, if applicable, the certificate of registration, should well in advance of the general meeting, be sent by post to Advokatfirman Schjødt, Box 715, 101 33 Stockholm, or by e-mail to [email protected]. The power of attorney must not be older than one year unless a longer validity term (however no longer than five years) is specifically stated in the power of attorney. A proxy form is available on the Company's website, www.scibase.com.
Proposed agenda
Opening of the meeting
Election of chairman of the meeting
Preparation and approval of the voting list
Election of one or two persons to approve the minutes of the meeting
Determination of whether the meeting has been duly convened
Approval of the agenda
Resolution to amend the articles of association in order to enable the issues under items 8 and 9
Resolution to approve the board of directors' decision on a directed issue of units
Resolution to approve the board of directors' decision on a directed issue of units with subscriber covered by Chapter 16 of the Swedish Companies Act
Closing of the meeting
PROPOSALS FOR RESOLUTION
Item 7 - Resolution to amend the articles of association in order to enable the issues under items 8 and 9
The board of directors proposes that the general meeting resolves to amend the articles of association in accordance with items 7(a), 7(b) and 7(c) below.
Further, the board of directors proposes that the board of directors is authorised to submit for registration with the Swedish Companies Registration Office, the articles of association in accordance with the items below which limits for the minimum and maximum number of shares and share capital in the Company are compatible with the total number of shares and share capital in the Company after the rights issue, which was announced on 5 April 2024, and the directed issues of units in accordance with items 8 and 9 below. In the event that the total number of shares and share capital in the Company after the rights issue, which was announced on 5 April 2024, and the directed issues of units in accordance with items 8 and 9 below is compatible with the amendments to the articles of association under several items below, the articles of associations that sets out the highest number of shares and share capital in the Company shall be submitted for registration.
The resolution under item 7 is conditional upon that the general meeting also resolves in accordance with item 8 below. A valid resolution under item 7 requires that the resolution is supported by shareholders representing at least two thirds of the votes cast as well as of the shares represented at the general meeting.
Item 7(a)
The board of directors proposes that the extraordinary general meeting resolves on the following amendments to Sections 4-5 of the articles of association.
Current wording Section 4:
The share capital shall amount to not less than SEK 5,990,000 and not more than SEK 23,960,000.
Proposed wording Section 4:
The share capital shall amount to not less than SEK 10,065,000 and not more than SEK 40,260,000.
Current wording Section 5:
The number of shares shall not be less than 119,800,000 and not more than 479,200,000.
Proposed wording Section 5:
The number of shares shall not be less than 201,300,000 and not more than 805,200,000.
Item 7(b)
The board of directors proposes that the extraordinary general meeting resolves on the following amendments to Sections 4-5 of the articles of association.
Current wording Section 4:
The share capital shall amount to not less than SEK 5,990,000 and not more than SEK 23,960,000.
Proposed wording Section 4:
The share capital shall amount to not less than SEK 10,780,000 and not more than SEK 43,120,000.
Current wording Section 5:
The number of shares shall not be less than 119,800,000 and not more than 479,200,000.
Proposed wording Section 5:
The number of shares shall not be less than 215,600,000 and not more than 862,400,000.
Item 7(c)
The board of directors proposes that the extraordinary general meeting resolves on the following amendments to Sections 4-5 of the articles of association.
Current wording Section 4:
The share capital shall amount to not less than SEK 5,990,000 and not more than SEK 23,960,000.
Proposed wording Section 4:
The share capital shall amount to not less than SEK 11,500,000 and not more than SEK 46,000,000.
Current wording Section 5:
The number of shares shall not be less than 119,800,000 and not more than 479,200,000.
Proposed wording Section 5:
The number of shares shall not be less than 230,000,000 and not more than 920,000,000.
The board of directors, the CEO, or anyone appointed by the board of directors or the CEO, shall be authorized to make such minor amendments to the above resolution as may be necessary in connection with the registration of the resolution with the Swedish Companies Registration Office or due to other formal requirements.
Item 8 - Resolution to approve the board of directors' decision on a directed share issue
The board of directors proposes that the general meeting approves the resolution made by the board of directors on 5 April 2024, on a new issue of a maximum of 74,136,510 shares, entailing a maximum increase of the share capital of SEK 3,706,825.50, and a new issue of a maximum of 370,682,550 warrants of series TO 2 entitling to subscription of 370,682,550 shares in the Company, whereby the share capital may increase by an additional maximum of SEK 18,534,127.50 if all issued warrants of series TO 2 are exercised. In total, the share capital may increase by a maximum of SEK 22,240,953.00.
The issues shall be treated as one resolution and be carried out through the issuance of so-called units. One (1) unit consists of one (1) new share and five (5) warrants of series TO 2.
Otherwise, the following conditions shall apply.
The right to subscribe for units shall, with deviation from the shareholders' preferential rights, vest with Ribbskottet AB, Per Olof Ejendal AB, Kåre Gilstring, Robert Molander, MLJK Konsult AB, Klintemar Konsult AB, Jesper Hoiland, Fredrik Mattsson, Stefan Hansson, Theodor Invest AB, Ulti AB, Van Herk Investments B.V., Morningside Group AB, Viktor Drvota and Eric Terhaerdt. Oversubscription may not occur.
The Company's board of directors has made an overall evaluation and carefully considered raising the necessary capital only through a rights issue, but has made the assessment that, for several reasons, it is more favorable for the Company and the shareholders to partially raise capital in the capital raising through a directed issue. Among other things, the directed issue reduces the need for guarantee commitments in the rights issue. The Company's board of directors has in this context also noted the discounts at which rights issues on the Swedish stock market are usually carried out and assesses that a rights issue, without the directed issue, would probably have been carried out at a lower subscription price and exposed the Company and the shareholders to a higher market risk for a longer period of time. The directed issue also contributes to strengthening the shareholder base in the Company with international institutional investors, which is considered positive in a long-term perspective. Since the subscription price in the directed issue was determined by the board of directors based on arms-length discussions with investors at a price corresponding to the closing price of the Company's share on Nasdaq First North Growth Market on 4 April 2024, it is the board of directors' assessment that the subscription price in the directed issue therefore reflects current market conditions and demand. Conclusively, the directed issue is deemed to be in the interest of the Company and all shareholders.
The subscription price for each unit is SEK 0.42, corresponding to a subscription price of SEK 0.42 per share. The amount that exceeds the share's quota value shall be transferred to the unrestricted premium reserve. Warrants of series TO 2 are issued free of charge. The subscription price has been determined based on an assessment of the current market situation, the historical development of the business and the Company's business prospects.
Subscription of units shall be made no later than on 13 May 2024. Payment shall be made no later than on 15 May 2024. The board of directors shall have the right to extend the time for subscription and payment.
One (1) warrant of series TO 2 gives the holder the right to subscribe for one (1) new share in the Company against a cash payment amounting to SEK 0.42 per share. The amount that exceeds the quota value of the shares shall be transferred to the unrestricted premium reserve. Warrants of series TO 2 may be exercised during the period from and including 3 April 2029 up to and including 17 April 2029.
Complete terms and conditions for warrants of series TO 2 are available at the Company's website, www.scibase.com.
The new shares issued in the directed issue shall carry a right to dividends commencing on the first record date that occurs after the registration of the shares with the Swedish Companies Registration Office and the entry of the shares in the share register kept by Euroclear Sweden AB. Shares issued as a result of exercise of warrants of series TO 2 shall carry a right to dividends commencing on the first record date that occurs after the interim registration of the shares in the share register kept by Euroclear Sweden AB.
The board of directors, the CEO, or anyone appointed by the board of directors or the CEO, shall be authorized to make such minor amendments to the above resolution as may be necessary in connection with the registration of the resolution with the Swedish Companies Registration Office or Euroclear Sweden AB or due to other formal requirements.
The resolution is conditional upon that the general meeting resolves in accordance with item 7. A valid resolution requires that the resolution is supported by shareholders representing at least two thirds of the votes cast as well as of the shares represented at the general meeting.
Item 9 - Resolution to approve the board of directors' decision on a directed share issue with subscriber covered by Chapter 16 of the Swedish Companies Act
The board of directors proposes that the general meeting approves the resolution made by the board of directors on 5 April 2024, on a new issue of a maximum of 3,755,259 shares, entailing a maximum increase of the share capital of SEK 187,762.95, and a new issue of a maximum of 18,776,295 warrants of series TO 2 entitling to subscription of 18,776,295 shares in the Company, whereby the share capital may increase by an additional maximum of SEK 938,814.75 if all issued warrants of series TO 2 are exercised. In total, the share capital may increase by a maximum of SEK 1,126,577.70.
The issues shall be treated as one resolution and be carried out through the issuance of so-called units. One (1) unit consists of one (1) new share and five (5) warrants of series TO 2.
Otherwise, the following conditions shall apply.
The right to subscribe for the shares shall, with deviation from the shareholders' preferential rights, vest in the board member Matt Leavitt, who is covered by Chapter 16 in the Swedish Companies Act (2005:551) (the so-called Leo act). Oversubscription may not occur.
The Company's board of Directors has made an overall evaluation and carefully considered raising the necessary capital only through a rights issue, but has made the assessment that, for several reasons, it is more favorable for the Company and the shareholders to partially raise capital in the capital raising through a directed issue. Among other things, the directed issue reduces the need for guarantee commitments in the rights issue. The Company's board of directors has in this context also noted the discounts at which rights issues on the Swedish stock market are usually carried out and assesses that a rights issue, without the directed issue, would probably have been carried out at a lower subscription price and exposed the Company and the shareholders to a higher market risk for a longer period of time. Since the subscription price in the directed issue was determined by the board of directors based on arms-length discussions with investors at a price corresponding to the closing price of the Company's share on Nasdaq First North Growth Market on 4 April 2024, it is the board of directors' assessment that the subscription price in the directed issue therefore reflects current market conditions and demand. Conclusively, the directed issue is deemed to be in the interest of the Company and all shareholders.
The subscription price for each unit is SEK 0.42, corresponding to a subscription price of SEK 0.42 per share. The amount that exceeds the share's quota value shall be transferred to the unrestricted premium reserve. Warrants of series TO 2 are issued free of charge. The subscription price has been determined based on an assessment of the current market situation, the historical development of the business and the Company's business prospects.
Subscription of units shall be made no later than on 13 May 2024. Payment shall be made no later than on 15 May 2024. The board of directors shall have the right to extend the time for subscription and payment.
One (1) warrant of series TO 2 gives the holder the right to subscribe for one (1) new share in the Company against a cash payment amounting to SEK 0.42 per share. The amount that exceeds the quota value of the shares shall be transferred to the unrestricted premium reserve. Warrants of series TO 2 may be exercised during the period from and including 3 April 2029 up to and including 17 April 2029.
Complete terms and conditions for warrants of series TO 2 are available at the Company's website, www.scibase.com.
The new shares issued in the directed issue shall carry a right to dividends commencing on the first record date that occurs after the registration of the shares with the Swedish Companies Registration Office and the entry of the shares in the share register kept by Euroclear Sweden AB. Shares issued as a result of exercise of warrants of series TO 2 shall carry a right to dividends commencing on the first record date that occurs after the interim registration of the shares in the share register kept by Euroclear Sweden AB.
The board of directors, the CEO, or anyone appointed by the board of directors or the CEO, shall be authorized to make such minor amendments to the above resolution as may be necessary in connection with the registration of the resolution with the Swedish Companies Registration Office or Euroclear Sweden AB or due to other formal requirements.
The resolution is conditional on that the general meeting also resolves in accordance with items 7. A valid resolution requires that the resolution is supported by shareholders representing at least nine tenths of the votes cast as well as of the shares represented at the general meeting.
Other information
Documentation
The board of directors' proposals and related documents will be available at the Company's office and on the Company's website, www.scibase.com, no later than two weeks prior to the general meeting and will be sent free of charge to shareholders who so request and provide their postal address.
Shareholders' right to request information
Shareholders are reminded of their right to request information from the board of directors and managing director in accordance with Chapter 7 Section 32 of the Swedish Companies Act.
Use of personal data
For information regarding the processing of your personal data, please see the integrity policy that is available at Euroclear Sweden AB's website: www.euroclear.com/dam/ESw/Legal/Privacy-notice-bolagsstammor-engelska.pdf. SciBase Holding AB (publ) has corporate registration number 556773-4768 and its registered office is in Stockholm.
_________________
Stockholm in April 2024
SciBase Holding AB (publ)
The board of directors
For additional information, please contact: Pia Renaudin, VD, tel. +46732069802, e-mail: [email protected]
SciBase is a global medical technology company, specializing in early detection and prevention in dermatology. SciBase develops and commercializes Nevisense, a unique point-of-care platform that combines AI (artificial intelligence) and advanced EIS technology to elevate diagnostic accuracy, ensuring proactive skin health management.
Our commitment is to minimize patient suffering, allowing clinicians to improve and save lives through timely detection and intervention and reduce healthcare costs.
Built on more than 20 years of research at Karolinska Institute in Stockholm, Sweden, SciBase is a leader in dermatological advancements.
The Company has been on the Nasdaq First North Growth Market exchange since June 2, 2015. Learn more at www.scibase.com. All press releases and financial reports can be found here: http://investors.scibase.se/en/pressreleases
The Board of Directors SciBase Holding AB (publ) ("SciBase" or the "Company") has today resolved on a capital raise totaling approximately SEK 48 million (the "Capital Raising"). The Capital Raising consists of both a new issue of so called units, consisting of shares and warrants of series TO 2, with deviation from the existing shareholders' preferential rights, of approximately SEK 33 million to Ribbskottet AB, Per Olof Ejendal AB, Kåre Gilstring, Robert Molander, MLJK Konsult AB, Klintemar Konsult AB, Jesper Hoiland, Fredrik Mattsson, Stefan Hansson, Ulti AB , Van Herk Investments B.V., Morningside Group AB, Matt Leavitt, Viktor Drvota, Theodor Invest AB and Eric Terhaerdt (the "Directed Issue"), and a new rights issue of so called units, consisting of shares and warrants of series TO 2, with preferential rights for the Company's existing shareholders of approximately SEK 15 million (the "Rights Issue"). One unit in the Rights Issue and the Directed Issue, respectively, consist of one (1) new share and five (5) warrants of series TO 2 in the Company. The Directed Issue is subject to approval by an Extraordinary General Meeting (the "EGM") intended to be held on 13 May 2024. The Company has in connection with the Rights Issue received subscription commitments totaling approximately SEK 2.5 million, corresponding to approximately 16 percent of the Rights Issue.
THIS PRESS RELEASE MAY NOT BE MADE PUBLIC, PUBLISHED OR DISTRIBUTED, DIRECTLY OR INDIRECTLY, IN OR INTO AUSTRALIA, BELARUS, CANADA, HONG KONG, JAPAN, NEW ZEALAND, RUSSIA, SWITZERLAND, SINGAPORE, SOUTH AFRICA, THE UNITED STATES OR ANY OTHER JURISDICTION IN WHICH SUCH ACTIONS, WHOLLY OR IN PART, WOULD BE UNLAWFUL. THIS PRESS RELEASE DOES NOT CONSTITUTE AN OFFER TO BUY SECURITIES IN SCIBASE HOLDING AB (PUBL). SEE ALSO THE SECTION "IMPORTANT INFORMATION" BELOW IN THIS DOCUMENT.
In addition, the Board of Directors of SciBase has, due to the contemplated Capital Raising, resolved to postpone the Annual General Meeting, from 17 May 2024 to 13 June 2024, and change the date for publication of the interim report for the first quarter of 2024, from 9 May 2024 to 31 May 2024.
Summary of the Rights Issue:
The Board of Directors has today, pursuant to the authorisation granted by the Annual General Meeting held on 17 May 2023, resolved to carry out the Rights Issue. Upon full subscription in the Rights Issue, SciBase will receive issue proceeds of approximately SEK 15 million before deduction of transaction costs.
The subscription price is set to SEK 0.42 per unit, corresponding to SEK 0.42 per share. The warrants of series TO 2 are issued free of charge.
All existing shareholders receives one (1) unit right for each share held on the record date on 19 April 2024. Ten (10) unit rights entitle the holder to subscribe for three (3) units. One (1) unit consists of one (1) new share and five (5) warrants of series TO 2.
If the Rights Issue is fully subscribed and upon full exercise of warrants of series TO 2, the Company is expected to raise up to an additional amount of approximately SEK 75 million, before deduction of transaction costs.
The shareholder Morningside Group AB and Members of the Board of Directors and management have undertaken to subscribe for units representing approximately 16 percent of the Rights Issue.
The record date for the Rights Issue is 19 April 2024 and the subscription period in the Rights Issue will take place during the period from and including 23 April 2024 until and including 7 May 2024.
Warrants of series TO 2 can be exercised for subscription of shares during the period from and including 3 April 2029 until and including 17 April 2029.
Summary of the Directed Issue
The Directed Issue comprises a total of 77,891,769 units at a subscription price of SEK 0.42 per share, corresponding to SEK 0.42 per share. The warrants of series TO 2 are issued free of charge.
Through the Directed Issue, SciBase will receive issue proceeds of approximately SEK 33 million before deduction of transaction costs.
Ribbskottet AB, Per Olof Ejendal AB, Kåre Gilstring, Robert Molander, MLJK Konsult AB, Klintemar Konsult AB, Jesper Hoiland, Fredrik Mattsson, Stefan Hansson, Theodor Invest AB and Ulti AB will subscribe for units in the Directed Issue for an amount of approximately SEK 24 million.
Existing shareholders Van Herk Investments B.V., Morningside Group AB, Matt Leavitt, Viktor Drvota and Eric Terhaerdt will subscribe for units in the Directed Issue for an amount of approximately SEK 9 million.
If all warrants of series TO 2, issued in the Directed Issue, are fully exercised the Company is expected to raise up to an additional amount of approximately SEK 164 million, before deduction of transaction costs.
The Board of Director's resolution on the Directed Issue is conditional upon the approval by the EGM intended to be held on 13 May 2024. Notice to the EGM will be published through a separate press release.
"I am pleased that we have succeeded in securing our long-term financing and strengthened our owner base, which benefits all owners. I am grateful for the support we have from our existing owners and also welcome our new owners to SciBase. I look with confidence on our continued development", says Tord Lendau, Chairman of the Board.
"SciBase is in a very interesting position, with the support from both our existing and new shareholders, we will continue to deliver on our strategy. With our profitable growth in Germany and our significant progress in the US, we are now well positioned to establish Nevisense as the new standard of care and contribute to saving lives. The US is developing according to our plans and in recent quarters we have gained several new customers who have already started using Nevisense. We have strong support among key opinion leaders and we now have the opportunity to continue strengthening our presence in the US and broaden the use of Nevisense so more patients can have access to better diagnostics and better care. I thank our shareholders for their continued support of SciBase", says Pia Renaudin, CEO of SciBase.
Background and rationale
SciBase is a global medical technology company specializing in early detection and prevention in dermatology. SciBase develops and commercializes Nevisense, a unique point-of-care platform that combines AI (artificial intelligence) and advanced EIS technology to increase diagnostic accuracy and ensure the prevention of skin diseases. SciBase's commitment is to minimize patient suffering, enable physicians to improve and save lives through rapid detection and intervention, and reduce healthcare costs.
SciBase's commercialization strategy is focused on skin cancer, where the Company estimates that it can achieve profitability with an installed base of approximately 800-1,000 systems, each using 6-7 electrodes per week. At present, SciBase has an installed base of approximately 400 customers in Germany, of which approximately 200 clinics use Nevisense routinely with just under 6 electrodes per week. With the success in Germany, SciBase has shown that Nevisense is an attractive and commercially viable product, which today generates a positive cash flow for SciBase in Germany.
The Company's priority is now to establish Nevisense as the standard in the US. This market accounts for three-quarters of the Company's addressable market, which means that it is where the greatest opportunities lie. Ahead of an expansive phase of scaling up sales in the US, the Company is working intensively to get more insurers to routinely reimburse the Nevisense procedure.
In parallel with the work in the US, SciBase aims to continue to grow in Europe. To the continued growth in Germany, the Company intends to add Austria and Switzerland, both markets that can be worked with existing resources.
It is the Company's assessment that the existing working capital is not sufficient for the current needs during the coming twelve-month period. In order to ensure that the Company has sufficient working and development capital for the coming twelve-month period, the Board of Directors has on 5 April 2024 resolved to carry out the Capital Raising of approximately SEK 48 million in total. The Capital Raising will be carried out in two stages, partly through the Directed Issue of SEK 33 million, conditional on the general meeting's subsequent approval, and partly through the Rights Issue, which amounts to a total of approximately SEK 15 million before deduction of transaction costs. The Board of Directors of the Company intends to convene an extraordinary general meeting on 13 May 2024 and propose to the general meeting to approve the Directed Issue. The Capital Raising of approximately SEK 48 million, before deduction of transaction costs, is mainly intended to finance commercialization and cost replacement growth in the US, investments in production and operating activities.
Upon full subscription in the Rights Issue, SciBase will receive approximately SEK 48 million, before deduction of transaction costs, in the Capital Raising. The transaction costs are expected to amount to approximately SEK 4 million. The net proceeds from the Capital Raising are expected to amount to approximately SEK 44 million. The net proceeds from the Capital Raising are intended to be used for the following uses in order of priority:
Financing commercialization and reimbursement growth in the U.S., approximately 40 percent.
Financing investments in production and product development, approximately 20 percent.
Financing working capital for other operating activities, such as sales, marketing, production and tied-up capital, approximately 40 percent.
In the event that all warrants of series TO 2 are exercised for subscription of shares, the Company will receive an additional approximately SEK 239 million before issue costs, which are estimated to amount to approximately SEK 6 million. The additional net proceeds, upon full exercise of all warrants of series TO 2, are intended to be used for the following uses in order of priority:
Financing accelerated commercialization globally by opening new markets in the EU and potentially Asia, approximately 40 percent.
Financing the use of the Company's technology for new indications, such as various applications in the area of the skin barrier and possibly for the consumer market, approximately 40 percent.
Financing potential acquisitions, approximately 20 percent.
The Rights Issue
Shareholders who are registered in the share register in SciBase on the record date on 19 April 2024 will receive one (1) unit right for each share held in the Company. Unit rights entitle the holder to subscribe for units. Ten (10) unit rights entitle the holder to subscription for three (3) units. One (1) unit consists of one (1) newly issued share and five (5) warrants of series TO 2. The subscription price is SEK 0.42 per unit, corresponding to SEK 0.42 per share (the warrants of series TO 2 are issued free of charge), which means that SciBase will receive gross proceeds of approximately SEK 15 million before deduction of transaction costs, provided that the Rights Issue is fully subscribed. In addition, investors are offered the opportunity to sign up for subscription for units without the support of unit rights.
Each warrant of series TO 2 entitles the holder to subscribe for one (1) new share in the Company during the period 3 April 2029 up to and including 17 April 2029. The subscription price for subscription of shares with the support of warrants of series TO 2 will be SEK 0.42 per share.
Provided that the Rights Issue is fully subscribed, the number of shares in SciBase will increase by 35,949,429, from 119,831,437 to 155,780,866 and the share capital will increase by a maximum of SEK 1,797,471.45, from SEK 5,991,571.85 to SEK 7,789,043.30.
Shareholders who choose not to participate in the Rights Issue will, if the Rights Issue is fully subscribed, have their ownership diluted by up to approximately 23 percent (calculated on the total number of outstanding shares in the Company after completion of the Rights Issue). These shareholders have the opportunity to compensate themselves financially for this dilution effect by selling their received unit rights.
Upon full exercise of the warrants of series TO 2 the number of shares will further increase by 179,747,145 and the share capital will increase by SEK 8,987,357.25 provided that the Rights Issue is fully subscribed, corresponding to an additional dilution effect of approximately 54 percent of the total number of shares and votes in the Company.
The last day of trading in SciBase's shares including the right to receive unit rights in the Rights Issue is 17 April 2024. The shares are traded excluding the right to receive unit rights in the Rights Issue as of 18 April 2024. The subscription period, with or without the support of unit rights, runs from 23 April 2024 up to and including 7 May 2024. Trading in unit rights will take place on Nasdaq First North Growth Market during the period from 23 April 2024 up to and including 2 May 2024 and trading in BTUs (paid subscribed unit) will take place on Nasdaq First North Growth Market during the period from 23 April 2024 until the registration of the Rights Issue with the Swedish Companies Registration Office.
In the event that not all units are subscribed for by exercise of unit rights, allotment of the remaining units shall be made within the highest amount of the Rights Issue: firstly, to those who have subscribed for units by exercise of unit rights (regardless of whether they were shareholders on the record date or not) and who have applied for subscription of units without exercise of unit rights and if allotment to these cannot be made in full, allotment shall be made pro rata in relation to the number of unit rights that each and every one of those, who have applied for subscription of units without exercise of unit rights, have exercised for subscription of units; and secondly, to those who have applied for subscription of units without exercise of unit rights and if allotment to these cannot be made in full, allotment shall be made pro rata in relation to the number of units the subscriber in total has applied for subscription of. To the extent that allotment in any section above cannot be done pro rata, allotment shall be determined by drawing of lots.
Complete terms and conditions for the Rights Issue as well as other information about the Company will be included in the prospectus that will be published in connection with the Rights Issue.
Preliminary timetable for the Rights Issue:
17 April 2024
Last day of trading in SciBase's shares including right to receive unit rights
18 April 2024
First day of trading in SciBase's shares excluding right to receive unit rights
19 April 2024
Record date to receive unit rights
23 April 2024 - 2 May 2024
Trading in unit rights
23 April 2024 - 7 May 2024
Subscription period
23 April 2024 - until registration of the Rights Issue with the Swedish Companies Registration Office
Trading in BTU
Around 10 May 2024
Announcment of the outcome of the Rights Issue
3 April 2029 - 17 April 2029
Subscription period for warrants of series TO 2
The Directed Issue
The Board of Directors has, subject to approval by the EGM, resolved on a new issue of 77,891,769 units with deviation from the existing shareholders' preferential rights. The units in the Directed Share Issue are issued at a subscription price of SEK 0.42 per unit, corresponding to SEK 0.42 per share (equal to the subscription price in the Rights Issue). The warrants are issued free of charge. Ribbskottet AB, Per Olof Ejendal AB, Kåre Gilstring, Robert Molander, MLJK Konsult AB, Klintemar Konsult AB, Jesper Hoiland, Fredrik Mattsson, Stefan Hansson, Theodor Invest AB and Ulti AB will subscribe for units in the Directed Issue for an amount of approximately SEK 24 million. Existing shareholders Van Herk Investments B.V., Morningside Group AB, Matt Leavitt, Viktor Drvota och Eric Terhaerdt will subscribe for units in the Directed Issue for an amount of approximately SEK 9 million. The reason for including existing shareholders among the subscribers in the Directed Issue is that these shareholders have expressed and demonstrated a long-term interest in the Company, which, according to the Board of Directors, creates security and stability for both the Company and its shareholders. Through the Directed Issue, SciBase will receive issue proceeds of approximately SEK 33 million before deduction of transaction costs.
Through the Directed Issue, the number of shares in SciBase will increase by 77,891,769 shares, from a total of 155,780,866 shares (calculated on the total number of shares in the Company after fully subscribed Rights Issue) to a total of 233,672,635 shares. Through the Directed Issue, the share capital in the Company will increase by SEK 3,894,588.45, from SEK 7,789,043.30 (calculated on the Company's share capital after fully subscribed Rights Issue) to SEK 11,683,631.75. The Directed Issue entails a dilution for existing shareholders of approximately 33 percent of the number of shares in the Company.
Upon full exercise of the warrants of series TO 2 issued in the Directed Issue, the number of shares will further increase by, 389,458,845 and the share capital will increase by SEK 19,472,942.25, corresponding to an additional dilution effect of approximately 63 percent of the total number of shares and votes in the Company (calculated on the number om shares in the Company after fully subscribed Rights Issue and the Directed Issue).
The Company's Board of Directors has made an overall evaluation and carefully considered raising the necessary capital only through a rights issue, but has made the assessment that, for several reasons, it is more favourable for the Company and the shareholders to partially raise capital in the Capital Raising through the Directed Issue. Among other things, the Directed Issue reduces the need for guarantee commitments in the Rights Issue and thus also the fee to guarantors. The Directed Issue also contributes to strengthening the shareholder base in the Company with international institutional investors, which is considered positive in a long-term perspective. Since the subscription price in the Directed Issue was determined by the Board of Directors based on arms-length discussions with investors at a price corresponding to the closing price of the Company's share on Nasdaq First North Growth Market on 4 April 2024, it is the Board of Directors' assessment that the subscription price in the Directed Issue therefore reflects current market conditions and demand. Conclusively, the Directed Issue is deemed to be in the interest of the Company and all shareholders.
The newly issued shares and warrants in the Directed Issue are expected to be admitted to trading on Nasdaq First North Growth Market on 30 May 2024.
Notice to Extraordinary General Meeting
The Board of Directors' resolution regarding the Directed Issue is subject to approval by the EGM and that the EGM resolves to amend the limits of the share capital and number of shares in the Company's articles of association. The EGM is intended to be held on 13 May 2024 and the notice to the EGM will be announced through a separate press release.
Subscription commitments
The existing shareholder Morningside Group AB and members of the Board of Directors and management have committed to subscribe for units in the Rights Issue amounting to approximately SEK 2.5 million, corresponding to approximately 16 percent of the Rights Issue.
No fee will be paid for the subscription undertakings. The subscription commitments are not secured through bank guarantees, restricted funds, pledged assets or similar arrangements.
Further information regarding the subscription commitments will be presented in the prospectus that will be published in connection with the Rights Issue.
Lock-up
Prior to the execution of the Capital Raising, the board of directors and management of the Company have entered into lock up undertakings, which, among other things and with customary exceptions, mean that they have undertaken not to sell financial instruments in the Company held prior to the Capital Raising for a period of 180 days from the settlement date of the Directed Issue.
Prospectus
Complete information regarding the Rights Issue and information about the Company will be provided in the prospectus that is expected to be published around 19 April 2024.
Advisors
Vator Securities is the financial advisor and Advokatfirman Schjødt is the legal advisor to SciBase in connection with the Capital Raising.
For additional information, please contact: Pia Renaudin, VD, tel. +46732069802, e-mail: [email protected]
This information is information that SciBase Holding AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 14.30 CEST on 5 April 2024.
SciBase is a global medical technology company, specializing in early detection and prevention in dermatology. SciBase develops and commercializes Nevisense, a unique point-of-care platform that combines AI (artificial intelligence) and advanced EIS technology to elevate diagnostic accuracy, ensuring proactive skin health management.
Our commitment is to minimize patient suffering, allowing clinicians to improve and save lives through timely detection and intervention and reduce healthcare costs.
Built on more than 20 years of research at Karolinska Institute in Stockholm, Sweden, SciBase is a leader in dermatological advancements.
The Company has been on the Nasdaq First North Growth Market exchange since June 2, 2015. Learn more at www.scibase.com. All press releases and financial reports can be found here: http://investors.scibase.se/en/pressreleases
Important information
Publication, release or distribution of this press release may in certain jurisdictions be subject to legal restrictions and persons in the jurisdictions where this press release has been made public or distributed should be informed of and follow such legal restrictions. The recipient of this press release is responsible for using this press release and the information herein in accordance with applicable rules in each jurisdiction. This press release does not constitute an offer or solicitation to buy or subscribe for any securities in SciBase in any jurisdiction, either from SciBase or from anyone else.
This press release is not a prospectus according to the definition in Regulation (EU) 2017/1129 (the "Prospectus Regulation") and has not been approved by any regulatory authority in any jurisdiction. A prospectus will be prepared by the Company and published on the Company's website after the prospectus has been reviewed and approved by the Swedish Financial Supervisory Authority.
This press release does not constitute an offer or solicitation to buy or subscribe for securities in the United States. The securities mentioned herein may not be sold in the United States without registration, or without an exemption from registration, under the U.S. Securities Act from 1933 ("Securities Act") and may not be offered or sold within the United States without being registered, covered by an exemption from, or part of a transaction that is not subject to the registration requirements according to the Securities Act. There is no intention to register any securities mentioned herein in the United States or to issue a public offering of such securities in the United States. The information in this press release may not be released, published, copied, reproduced or distributed, directly or indirectly, wholly or in part, in or to Australia, Belarus, Canada, Hong Kong, Japan, New Zealand, Russia, Switzerland, Singapore, South Africa, the United States or any other jurisdiction where the release, publication or distribution of this information would violate current rules or where such an action is subject to legal restrictions or would require additional registration or other measures beyond those that follow from Swedish law. Actions in contravention of this instruction may constitute a violation of applicable securities legislation.
Forward-looking statements
This press release contains forward-looking statements related to the Company's intentions, estimates or expectations with regard to the Company's future results, financial position, liquidity, development, outlook, estimated growth, strategies and opportunities as well as the markets in which the Company is active. Forward-looking statements are statements that do not refer to historical facts and can be identified by the use of terms such as "believes," "expects," "anticipates," "intends," "estimates," "will," "may," "implies," "should," "could" and, in each case, their negative, or comparable terminology. The forward-looking statements in this press release are based on various assumptions, which in several cases are based on further assumptions. Although the Company believes that the assumptions reflected in these forward-looking statements are reasonable, there is no guarantee that they will occur or that they are correct. Since these assumptions are based on assumptions or estimates and involve risks and uncertainties, actual results or outcomes, for many different reasons, may differ materially from those what is stated in the forward-looking statements. Due to such risks, uncertainties, eventualities and other significant factors, actual events may differ materially from the expectations that expressly or implicitly are contained in this press release through the forward-looking statements. The Company does not guarantee that the assumptions which serve as a basis for the forward-looking statements in this press release are correct, and each reader of the press release should not rely on the forward-looking statements in this press release. The information, opinions and forward-looking statements that expressly or implicitly are stated herein are provided only as of the date of this press release and may change. Neither the Company nor any other party will review, update, confirm or publicly announce any revision of any forward-looking statement to reflect events that occur or circumstances that arise with respect to the contents of this press release, beyond what is required by law or Nasdaq First North Growth Market Rulebook for Issuers of Shares.
STOCKHOLM, SWEDEN, - February 28, 2024 - SciBase Holding AB ("SciBase") [STO: SCIB], a leading developer of augmented intelligence-based solutions for skin disorders is pleased to announce a new partnership with Skinobs, a leading global platform connecting researchers with the tools they need for their cosmetic and medical research. Through this partnership, SciBase will now offer Nevisense for assessing skin barrier function within cosmetic testing on the Skinobs platform.
Through the Skinobs platform, researchers can easily find information on who is conducting what tests in the field of dermocosmetic, nutraceutical, and active ingredient testing. This collaboration will streamline the process for researchers looking to access the latest tools for their cosmetic and medical research. The cosmetic testing market segment represents a significant potential addressable customer base for SciBase and is expected to grow exponentially into 2030.
"SciBase is already involved in discussions with several large cosmetic companies who wish to use Nevisense in their research and development. In May this year, SciBase will present and exhibit at its first cosmetic research-focused international conference, the Cosmetotest cosmetics testing symposium in Lyon, France." said Pia Renaudin, CEO at SciBase. "We are excited to be partnering with Skinobs to bring our innovative skin barrier function assessment technique to researchers globally. Nevisense is commonly utilized in medical research for assessing skin barrier health, hydration, healing, and inflammation, and we believe this partnership will extend our reach to cosmetic researchers in need of our products."
Skinobs provides cosmetic researchers around the world with easy access to preclinical and clinical testing methods and laboratories for evaluating active ingredients and cosmetic products on the skin, hair, or nails. Their platform covers a wide range of tests including stability, ecotoxicity, biodegradability, microbiology, safety, container/content interactions, sun protection, tolerance, efficacy, sensory analysis, and consumer tests.
For more information about SciBase's skin barrier function assessment tools available on the Skinobs platform, visit skinobs.com.
For additional information, please contact: Pia Renaudin, VD, tel. +46732069802, e-mail: [email protected]
Skinobs is a French platform connecting researchers with the tools they need for cosmetic and medical research. With a focus on preclinical and clinical testing methods, Skinobs provides researchers with easy access to testing laboratories around the world.
About SciBase:
SciBase is a global medical technology company, specializing in early detection and prevention in dermatology. SciBase develops and commercializes Nevisense, a unique point-of-care platform that combines AI (artificial intelligence) and advanced EIS technology to elevate diagnostic accuracy, ensuring proactive skin health management.
Our commitment is to minimize patient suffering, allowing clinicians to improve and save lives through timely detection and intervention and reduce healthcare costs.
Built on more than 20 years of research at Karolinska Institute in Stockholm, Sweden, SciBase is a leader in dermatological advancements.
The company has been on the Nasdaq First North Growth Market exchange since June 2, 2015. Learn more at www.scibase.com. All press releases and financial reports can be found here: http://investors.scibase.se/en/pressreleases
The cash flow from current operations was negative in the amount of TSEK 17,352 (14,593).
The gross margin was 73.5% (61.4%).
Electrode sales volume increased by 5% and was 12,044 (11,444) units. Repeat sales of electrodes to existing customers increased by 25%.
January - December in figures
Net sales were TSEK 23,245 (17,890), +30%.
The loss after tax was TSEK 55,585 (43,174).
The loss per share was SEK 0.51 (0.63).
The cash flow from current operations was negative in the amount of TSEK 51,984 (44,466).
The gross margin was 69.0% (62.8%).
Electrode sales volume increased by 24% and was 51,920 (41,712) units. Repeat sales of electrodes to existing customers increased by 31%.
Important events during the quarter
Overall sales increased by 16% (+10, before currency effects). Sales in Germany increased by 36%(26% in local currency). Sales in the US skin cancer market increased by 34% while the sales within the skin barrier segment decreased by 46%.
SciBase entered into a collaboration agreement with the Skin and Cancer Institute, a leading dermatology network in California with more than 50 clinics, to pilot Nevisense in several of their California locations.
SciBase entered into a collaboration agreement with the Skin and Cancer Reconstructive Surgery Center in California. This partnership means that an additional dermatology network will help to introduce Nevisense to a broader US market.
A nominating committee for the Annual General Meeting in 2024 was appointed.
Important events after the end of the period
No significant events have occurred after the end of the period.
Oct 1 - Dec 31
Jan 1 - Dec 31
THE GROUP
2023
2022
2023
2022
Net sales, SEK ths
5 764
4 962
23 245
17 890
Gross margin, %
73,5%
61,4%
69,0%
62,8%
Equity/Asset ratio, %
66,9%
50,6%
66,9%
50,6%
Net indebtness, multiple
0,49
0,98
0,49
0,98
Cash equivalents, SEK ths
34 121
18 832
34 121
18 832
Cashflow from operating activities, SEK ths
-17 352
-14 593
-51 984
-44 466
Earnings per share (before and after dilution), SEK
-0,17
-0,23
-0,51
-0,63
Shareholder's equity per share, SEK
0,36
0,37
0,40
0,37
Average number of shares, 000'
119 831
68 475
107 980
68 475
Number of shares at closing of period, 000'*
119 831
68 475
119 831
68 475
Share price at end of period, SEK
0,83
3,82
0,83
3,82
Number of sold electrodes, pieces
12 044
11 444
51 920
41 712
Average number of employees
26
21
23
20
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 21, 2024.
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: Pia Renaudin, CEO SciBase Tel: +46 73 206 98 02 Email: [email protected]
About SciBase SciBase is a global medical technology company, specializing in early detection and prevention in dermatology. SciBase develops and commercializes Nevisense, a unique point-of-care platform that combines AI (artificial intelligence) and advanced EIS technology to elevate diagnostic accuracy, ensuring proactive skin health management.
Our commitment is to minimize patient suffering, allowing clinicians to improve and save lives through timely detection and intervention and reduce healthcare costs.
Built on more than 20 years of research at Karolinska Institute in Stockholm, Sweden, SciBase is a leader in dermatological advancements.
The company has been on the Nasdaq First North Growth Market exchange since June 2, 2015. Learn more at www.scibase.com. All press releases and financial reports can be found here: http://investors.scibase.se/en/pressreleases
STOCKHOLM, SWEDEN, - February 19, 2024 - SciBase Holding AB ("SciBase") [STO: SCIB], a leading developer of augmented intelligence-based solutions for skin disorders participated at the 2024 Winter Clinical Dermatology Conference in Miami. The second annual Winter Clinical Miami conference is a 4-day CME course that educates dermatologists on innovative news within Medical, and Surgical Dermatology. This prestigious CME course attracts over 400 dermatologists from the US and is considered to be one of the leading educational events for dermatology professionals.
At the conference, SciBase presented its product Nevisense - an AI-powered detection enhancement technology that improves the ability for early detection of melanoma at point of care. Melanomas have a fast growth rate and a delay in treatment may mean the difference between life and death. Early detection is the key to survival as melanoma has a 99% cure rate if caught in the earliest stages.
Attendees had the opportunity to learn about Nevisense in the scientific sessions where Nevisense was presented and gain valuable insight on how to improve patient outcomes by integrating Nevisense into their clinical practices. The interest for Nevisense was great and we had a well-attended booth resulting in many new installation opportunities for SciBase in the US.
"This congress provided SciBase with a platform to engage with top dermatology professionals in the US at the same time as we had the opportunity to present our AI-driven technology for enhancing melanoma detection at point of care. " says Pia Renaudin, CEO of SciBase.
For additional information, please contact: Pia Renaudin, VD, tel. +46732069802, e-mail: [email protected]
About SciBase SciBase is a global medical technology company, specializing in early detection and prevention in dermatology. SciBase develops and commercializes Nevisense, a unique point-of-care platform that combines AI (artificial intelligence) and advanced EIS technology to elevate diagnostic accuracy, ensuring proactive skin health management.
Our commitment is to minimize patient suffering, allowing clinicians to improve and save lives through timely detection and intervention and reduce healthcare costs.
Built on more than 20 years of research at Karolinska Institute in Stockholm, Sweden, SciBase is a leader in dermatological advancements.
The company has been on the Nasdaq First North Growth Market exchange since June 2, 2015. Learn more at www.scibase.com. All press releases and financial reports can be found here: http://investors.scibase.se/en/pressreleases
STOCKHOLM, SWEDEN, - February 16, 2024 - SciBase Holding AB ("SciBase") [STO:SCIB], a leading developer of augmented intelligence-based solutions for skin disorders announced today the publication of the first direct comparison between electrical impedance spectroscopy (EIS) using Nevisense and trans-epidermal water loss (TEWL). The study demonstrates Nevisense as a more robust technique to assess skin barrier function than the commonly accepted TEWL measurement technique.
Skin barrier function has been implicated as a driving factor in many dermatological disorders, including Atopic Dermatitis (AD). AD is one of the most prevalent disorders in the world, affecting up to 20% of children globally. Additionally, skin barrier function is commonly assessed in the research and development of pharmaceutics and cosmetic products.
The study was performed on healthy adults between 22 and 65 years of age and aimed at determining factors that influence the measurement results of both EIS and TEWL. The top-line results of the study indicated that:
TEWL measurements were influenced by physical activity, body cream application, skin washing, and caffeine intake.
EIS measurements were only influenced by body cream application and skin washing.
EIS was not influenced by physical activity or caffeine intake.
Both the abdomen and the volar forearm were identified as useful anatomical locations for EIS measurements.
The authors concluded that EIS (Nevisense) can assess skin barrier function with less sensitivity to confounding lifestyle factors than TEWL.
"For SciBase, these findings help to open up the cosmetic and pharmaceutical research markets for Nevisense, potentially as the new state-of-the-art tool for skin barrier assessment. This study strengthens the evidence that EIS is an established, robust technique for these researchers. We aim to provide the medical community with the best products possible in their research and management for dermatological disorders," says Pia Renaudin CEO, SciBase.
The full results of the study have now been published in the scientific journal Annals of Dermatology and can be found here: https://anndermatol.org/DOIx.php?id=10.5021/ad.23.052
The study was carried out at Vrije Universiteit Brussel (VUB) in Belgium.
For additional information, please contact: Pia Renaudin, VD, tel. +46732069802, e-mail: [email protected] Michael Colerus, CFO, tel. +46703413472, e-mail: [email protected]
About SciBase SciBase is a global medical technology company, specializing in early detection and prevention in dermatology. SciBase develops and commercializes Nevisense, a unique point-of-care platform that combines AI (artificial intelligence) and advanced EIS technology to elevate diagnostic accuracy, ensuring proactive skin health management.
Our commitment is to minimize patient suffering, allowing clinicians to improve and save lives through timely detection and intervention and reduce healthcare costs.
Built on more than 20 years of research at Karolinska Institute in Stockholm, Sweden, SciBase is a leader in dermatological advancements.
The company has been on the Nasdaq First North Growth Market exchange since June 2, 2015. Learn more at www.scibase.com. All press-releases and financial reports can be found here : http://investors.scibase.se/en/pressreleases
STOCKHOLM, SWEDEN, - January 30, 2024 - SciBase Holding AB ("SciBase") [STO: SCIB], a pioneer in early detection and prevention in dermatology initiates cooperation with Inderes (www.inderes.se) for ongoing services related to commissioned research. This collaboration aims at providing high-quality equity research on SciBase Holding AB stock.
The research reports, analyst comments and interview videos will be published and made available on inderes.se, inderes.dk and inderes.fi with over 70,000 active members, as well as through Inderes' channels on social media and other investor platforms. The first analysis is planned to be carried out in the first quarter of 2024. Inderes welcomes all investors to discuss and ask questions from the analyst on forum.inderes.se once the research is published.
The main purpose of the collaboration is to:
1) Increase investor awareness of SciBase
2) Help investors better understand SciBase
3) Create a communication channel between the investors and SciBase
4) Improve the price formation and liquidity of SciBase's stock
For additional information, please contact: Pia Renaudin, VD, tel. +46732069802, e-mail: [email protected] Michael Colerus, CFO, tel. +46703413472, e-mail: [email protected]
About SciBase SciBase is a global medical technology company, specializing in early detection and prevention in dermatology. SciBase develops and commercializes Nevisense, a unique point-of-care platform that combines AI (artificial intelligence) and advanced EIS technology to elevate diagnostic accuracy, ensuring proactive skin health management.
Our commitment is to minimize patient suffering, allowing clinicians to improve and save lives through timely detection and intervention and reduce healthcare costs.
Built on more than 20 years of research at Karolinska Institute in Stockholm, Sweden, SciBase is a leader in dermatological advancements.
The company has been on the Nasdaq First North Growth Market exchange since June 2, 2015. Learn more at www.scibase.com. All press-releases and financial reports can be found here : http://investors.scibase.se/en/pressreleases
About Inderes
Inderes connects investors and listed companies, with the aim of democratizing information in the financial markets. Inderes helps over 400 Nordic listed companies to better serve their shareholders. Inderes' Nordic community consists of over 70,000 active investors.
STOCKHOLM, SWEDEN, - January 25, 2024 - SciBase Holding AB ("SciBase") [STO: SCIB], a pioneer in early detection and prevention in dermatology hereby invites investors, analysts, and financial media to SciBase Capital Markets Day today on January 25, 2024.
SciBase has evolved from being an innovation company originating from the Karolinska Institute to a global company dedicated to supporting healthcare professionals in their work by facilitating early detection and prevention of skin cancer and other dermatological conditions.
During SciBase's Capital Markets Day, Pia Renaudin, who assumed the role of CEO in October 2023, will provide insights into SciBase's future trajectory, and unveil an updated strategic outlook, and long-term strategic goals. The presentations will underscore the company's focus on the USA and shed light on SciBase's ongoing expansion into promising new markets.
Although the Company has a strategic focus on the USA, Germany continues to be an important and profitable market for SciBase. Rolling 12 at the end of the third quarter of 2023, Germany reached a turnover of approximately SEK 19 million with an operating profit margin of 25%. This is primarily driven by increased usage and sales of the company's disposable electrode. The electrode volume in Germany increased for the corresponding period by 40%, which means a volume of approximately 46,000 electrodes or, in other words, patients who were then examined using SciBase method.
Two external speakers will participate in the event, Darrell S. Rigel, MD, MS, Clinical Professor of Dermatology at the Mount Sinai Icahn School of Medicine and Kathy Francisco, MBA, CPC, Founder and CEO of Pinnacle Health, further supporting the US role in the SciBase strategy going forward.
Following the presentations, there will be an interactive session allowing participants to pose questions. The event will be digitally broadcast, starting at CET 14:00 and is expected to last until CET 15:30.
A recording of the event will be made available on the SciBase website.
Date: January 25, 2024
Time: CET 14:00 – 15:30 CET.
Format: Digital. The presentations will be in English.
Link to meeting : https://ir.financialhearings.com/scibase-cmd-2024
Welcome!
For additional information, please contact: Pia Renaudin, VD, tel. +46732069802, e-mail: [email protected] Michael Colerus, CFO, tel. +46703413472, e-mail: [email protected]
SciBase is a global medical technology company, specializing in early detection and prevention in dermatology. SciBase develops and commercializes Nevisense, a unique point-of-care platform that combines AI (artificial intelligence) and advanced EIS technology to elevate diagnostic accuracy, ensuring proactive skin health management.
Our commitment is to minimize patient suffering, allowing clinicians to improve and save lives through timely detection and intervention and reduce healthcare costs.
Built on more than 20 years of research at Karolinska Institute in Stockholm, Sweden, SciBase is a leader in dermatological advancements.
The company has been on the Nasdaq First North Growth Market exchange since June 2, 2015. Learn more at www.scibase.com. All press-releases and financial reports can be found here : http://investors.scibase.se/en/pressreleases
STOCKHOLM, SWEDEN, - January 19, 2024 - SciBase Holding AB ("SciBase") [STO: SCIB], a pioneer in early detection and prevention in dermatology hereby invites investors, analysts, and financial media to SciBase Capital Markets Day on January 25, 2024.
SciBase has evolved from being an innovation company originating from the Karolinska Institute to a global company dedicated to supporting healthcare professionals in their work by facilitating early detection and prevention of skin cancer and other dermatological conditions.
During SciBase's Capital Markets Day, Pia Renaudin, who assumed the role of CEO in October 2023, will provide insights into SciBase's future trajectory, and unveil an updated strategic outlook, and long-term strategic goals. The presentations will underscore the company's focus on the USA and shed light on SciBase's ongoing expansion into promising new markets.
Two external speakers will participate in the event, further supporting the US role in the SciBase strategy going forward.
Darrell S. Rigel, MD, MS, Clinical Professor of Dermatology at the Mount Sinai Icahn School of Medicine Dr. Rigel, a US-based and world-prominent dermatologist will talk about his experiences regarding the clinical benefits of SciBase products. Dr. Rigel has been a Dermatology leader for 30+ years, served as President of major associations such as AAD (American Academy of Dermatology), and Vice-President of the American Board of Dermatology for 13 years. A trusted advisor on national health policy, he testifies before Congress and the FDA, consulting for government and industry. As Scientific Co-Chair of Clinical Dermatology Conferences, he educates over 4000 colleagues annually. Maintaining practices in Manhattan and Dallas, Dr. Rigel specializes in Melanoma, Skin Cancer, and related issues. Internationally acclaimed, he delivers 1000+ lectures globally, is featured on CNN, Fox, ABC, and NBC, is quoted in major publications, and serves as the Team Dermatologist for the New York Yankees. With an MIT BS, MBA from MIT Sloan, and MD from George Washington University, he completed training at NYU and is a Clinical Professor at Mt. Sinai Icahn School of Medicine.
Kathy Francisco, MBA, CPC, Founder and CEO
Kathy established The Pinnacle Health Group in 1999 as a consulting group specializing in reimbursement for health care technologies, drugs, and biologics. For over 25 years, Pinnacle has been providing effective and appropriate reimbursement support for healthcare providers across the country. The Pinnacle team is comprised of certified coders, reimbursement specialists, and clinicians supporting clients with the development of strategic planning, economic positioning, financial analysis, payer coverage strategy, and tactical reimbursement positioning. In addition, daily support is offered to providers offering HIPAA-compliant prior authorization, appeals, and appropriate payment for procedures and technologies that are key to ongoing medically necessary patient care.
Following the presentations, there will be an interactive session allowing participants to pose questions. The event will be digitally broadcast, starting at CET 14:00 and is expected to last until CET 15:30.
A recording of the event will be made available on the SciBase website.
Date: January 25, 2024
Time: CET 14:00 – 15:30 CET.
Format: Digital. The presentations will be in English.
Link to meeting : https://ir.financialhearings.com/scibase-cmd-2024
Welcome!
For additional information, please contact: Pia Renaudin, VD, tel. +46732069802, e-mail: [email protected] Michael Colerus, CFO, tel. +46703413472, e-mail: [email protected]
SciBase is a global medical technology company, specializing in early detection and prevention in dermatology. SciBase develops and commercializes Nevisense, a unique point-of-care platform that combines AI (artificial intelligence) and advanced EIS technology to elevate diagnostic accuracy, ensuring proactive skin health management.
Our commitment is to minimize patient suffering, allowing clinicians to improve and save lives through timely detection and intervention and reduce healthcare costs.
Built on more than 20 years of research at Karolinska Institute in Stockholm, Sweden, SciBase is a leader in dermatological advancements.
The company has been on the Nasdaq First North Growth Market exchange since June 2, 2015. Learn more at www.scibase.com. All press-releases and financial reports can be found here : http://investors.scibase.se/en/pressreleases
In my initial 100 days as CEO, I have been creating a roadmap for SciBase's rapid transition into a robust commercial company. I am impressed by the work that has been done so far, but I am at the same time confident that with a more focused approach, we can significantly enhance value for our shareholders, the healthcare sector, and patients.
Establishing Nevisense as the standard of care in the U.S. market is my primary objective. This market accounts for three-quarters of our addressable market making it the territory with the highest potential. With the success in Germany, we have shown that Nevisense is an attractive and commercially viable product, which today generates a positive cash flow for the Group. Ahead of an expansive phase of scaling up sales in the US, we are working intensively to secure broad reimbursement for the Nevisense procedure from additional payers. This goal is at the forefront of our strategic initiatives.
Together with our expert advisor, Pinnacle Health Group, we have developed a clear and efficient reimbursement strategy. This has already led to two Medicare Administrative Contractors (MACs), active across 13 states, adopting routine reimbursement for the use of Nevisense. As we now accelerate our efforts, they are reinforced by the endorsement of key opinion leaders and collaborations with premier dermatology networks across several states. Among our KOLs are Dr. Darrell Rigel, the creator of the ABCD criteria for melanoma diagnosis, which underscores the caliber of SciBase's market position.
We have strengthened the U.S. team with the appointment of Dan Walker as the head of our new talented employees, positioning us to effectively generate reimbursement claims across all major states. Once we achieve reimbursement coverage for approximately half the patient population in a state, our strategy will pivot from reimbursement to scaling up sales. By the end of 2024, I anticipate we will implement this strategic shift, state by state. We are looking to provide our shareholders with transparent updates on our progress until it is reflected in our sales metrics.
In parallel with the work in the USA, we aim to continue growing in Europe. Along with continued growth in Germany we add Switzerland, Austria and Sweden, all markets we can address with existing resources.
Our commercialization strategy is focused on skin cancer - an important and growing market predominantly found in countries with populations who have a significant need for reliable and early diagnosis. This targeted approach enables us to communicate effectively with healthcare providers and payers, ensuring that our resources are allocated to areas with the highest potential for value creation.
We estimate that we can reach profitability with an installed base of around 800-1,000 systems, each utilizing 6-7 electrodes on a weekly basis. This is somewhat higher than the previously stated 700-800 systems, reflecting a more refined understanding of our customers behavior. We currently have an installed base of around 400 customers in Germany of which approximately 200 clinics are using Nevisense on a routine basis, averaging just below six electrodes per week. In the U.S our primary focus is securing reimbursement, which means electrode usage is currently lower than in Europe.
We will present a comprehensive overview of our agenda and future plans at the Capital Markets Day on January 25 from 14:00 to 15:30. Dr. Darrell Rigel, whom I mentioned above, and Kathy Francisco, CEO of Pinnacle Health Group, will be featured as speakers at the event. A link to the live broadcast will be available on our website.
In summary, the opportunities for SciBase in 2024 are promising. With a very well-functioning and dependable technology and business model, we are investing in growth. The economic climate is challenging, but we have an attractive product that meets a strong and clear need in a growing market. I look forward to steer SciBase towards further advancements in 2024.
CEO Pia Renaudin
For additional information, please contact: Pia Renaudin, VD,
About SciBase SciBase is a global medical technology company, specializing in early detection and prevention in dermatology. SciBase develops and commercializes Nevisense, a unique point-of-care platform that combines AI (artificial intelligence) and advanced EIS technology to elevate diagnostic accuracy, ensuring proactive skin health management.
Our commitment is to minimize patient suffering, allowing clinicians to improve and save lives through timely detection and intervention and reduce healthcare costs.
Built on more than 20 years of research at Karolinska Institute in Stockholm, Sweden, SciBase is a leader in dermatological advancements.
The company has been on the Nasdaq First North Growth Market exchange since June 2, 2015. Learn more at www.scibase.com. All press-releases and financial reports can be found here : http://investors.scibase.se/en/pressreleases
