Brighter publishes interim information Jan-Sep 2017.
The full Interim information is available in pdf on Brighter's website www.brighter.se.The Interim information is also attached as a pdf file to this press release.
January 1 – September 30, 2017.
- Operating income amounted to SEK 24,241 thousand (SEK 17,073 thousand).
- Profit after financial items amounted to SEK -13,293 thousand (SEK -9,908 thousand).
- Earnings per share before dilution SEK -0.49 (SEK -0.17).
- Earnings per share after dilution SEK -0.49 (SEK -0.17).
Significant events during the period.
- In August Brighter’s main patent was approved in the USA. This patent includes Actiste and its unique ability to integrate all functions in a patient’s activity chain into one and the same device.
- An extraordinary shareholders’ meeting in September determined the incentive program for the Board and management team.
- The number of shares in Brighter AB increased on several occasions during the period. The total number of shares and votes increased from 53,506,020 to 62,410,093.
- Brighter strengthened the company’s financing by SEK 6.4 million for the launch, through a targeted issue to Recall Capital.
- Brighter called upon a second tranche of SEK 10 million from L1 Capital and issued additional free warrants to its existing shareholders.
- Brighter and its former development partner Amundsen Engineering Stockholm AB (formerly HotSwap Stockholm AB) reached a settlement agreement, which concluded all legal processes between the companies.
Significant events after the period.
- Brighter called upon a third tranche of SEK 10 million from L1 Capital and issued additional free warrants to its existing shareholders.
- Brighter has strengthened its management team by recruiting Ann Zetterberg as its CFO.
- Brighter secured SEK 5.3 million by exercising warrants in series TO3, which has now been completed. Brighter’s management team, including the CEO and COO, and all of the company’s Board members fully subscribed.
- The number of shares in Brighter AB has increased on several occasions. The total number of shares and votes increased from 62,410,093 till 64,329,277.
- PRV in Sweden will approve Brighters patent application nr. 1550571-2, regarding the method and device for logging injections of medication made by a medical technology device with an injector.
A message from the CEO.
Swedes have clearly become more concerned this summer and autumn about what is happening to healthcare. This has been reflected in the high number of newspaper articles about the crisis in healthcare in virtually every part of Sweden. Swedes are worried about the quality of care, queues and waiting times. When Dagens industri, a Swedish financial newspaper, held its major Healthcare event at the end of October, most of its speakers, which numbered just over a dozen, focused on these issues, as well as the need for innovation.
It is easy to understand why chronically ill patients feel worried if they find it more difficult and time-consuming to get help when they, or their relatives, need care. However, it must be remembered that Swedish healthcare is definitely world class. I recently went to a seminar, where I spoke to a number of diabetes nurses. There are no words to fully describe their competence and their commitment to their patients. Sweden also has a national diabetes register, which is unique in the world. Provided that valid data is entered in a verifiable way, this register is incredibly valuable for research and development into better processes and therapies.
It is logical to compare healthcare in Sweden with the USA. Swedish healthcare is just as good, but only costs half as much. This naturally opens up a huge potential market for companies that can automate therapies for chronically ill patients and can also help them to change their behavior. A study by the management consultancy firm McKinsey revealed that almost 70% of healthcare costs for the chronically ill are a result of patients not following their prescriptions. The approval of Brighter’s main patent in the USA this August was therefore an incredibly important milestone for us. There are almost 30 million diabetics in the USA – and almost 90 million are in pre-diabetic stage, mostly because of poor diet and exercise habits.
During the third quarter we have also accelerated and coordinated all the processes needed for the launch of Actiste. It is all about finding the right partners for marketing, logistics, sales, testing and other areas.
Finally, I would like to take this opportunity to welcome our new CFO, Ann Zetterberg, who formally started in the fourth quarter. Ann’s experience of all aspects of the role of CFO will be invaluable to our future investments.
As the founder and CEO, I am eagerly anticipating Brighter’s progress in the coming months!
Truls Sjöstedt, Founder and CEO of Brighter AB.
For more information, please contact:
Ann Zetterberg, CFO
Tel: +46 708 37 21 23
Truls Sjöstedt, CEO
Tel: +46 709 73 46 00
About Brighter AB (publ)
Brighter develops solutions for data-driven and mobile health services. Through its intellectual property and its first launch Actiste®, the company creates a more efficient care chain with focus on the individual. The goal is to simplify, streamline and enhance the information flow of relevant and reliable data between the patient and health care professionals. Brighter is initially focused on diabetes care, but there are opportunities in the future to operate on a broader level, spanning more diseases and treatment approaches. This is done through The Benefit Loop®, Brighter’s cloud-based service that continuously collects, analyzes and shares data on the user's terms.
The Company's shares are listed on NASDAQOMX First North/BRIG. Brighter’s Certified Adviser on Nasdaq OMX First North is Remium Nordic AB +46 (0)8 – 454 32 50, CorporateFinance@remium.com, www.remium.com.
This information is information that Brighter AB is obliged to make public pursuant to the EU Market Abuse Regulation and the Securities Markets Act. The information was submitted for publication, through the agency of the contact persons set out above, at 08:00 CET on November 24, 2017.