Brighters year-end report 2017.
From development to commercialization.
The full Year End Report is available on Brighter's website www.brighter.se. A pdf copy is also attached to this press release.
Fourth quarter, October–December 2017.
• Net sales amounted to SEK 576 thousand (2,412).
• Capitalized expenditure for development work reached SEK 12,390 thousand (4, 774)
• Operating income amounted to SEK 13,827 thousand (7,330)
• Profit for the period amounted to SEK -9,514 thousand (-2,237).
• Earnings per share, before dilution amounted to SEK -0.13 (-0.09).
• Earnings per share after dilution SEK -0.13 (SEK -0.09).
Full year, January–December 2017.
• Net sales amounted to SEK 1,377 thousand (SEK 3,303).
• Capitalized expenditure for development work reached SEK 29,754 thousand (21,698)
• Operating income amounted to SEK 32,825 thousand (25,351)
• Profit for the period amounted to SEK -27,292 thousand (-14,683).
• Earnings per share, before dilution amounted to SEK -0.40 (-0.32).
• Earnings per share after dilution SEK -0.40 (-0.32).
Significant events during the period.
• Brighter called upon a third and fourth tranche from L1 Capital totaling SEK 20 million, and issued additional free warrants to its existing shareholders.
• The number of shares in Brighter AB increased on several occasions. The total number of shares and votes increased from 62,410,093 till 64,964,545.
• 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.
• Brighter strengthened its management team by recruiting Ann Zetterberg as its CFO.
• The Swedish Patent and Registration Office granted Brighter’s patent application no. 1550571-2, regarding method and device for logging drug injections made by a medical device with injector.
Significant events after the end of the period.
• The number of shares in Brighter AB has increased. The total number of shares and votes has increased from 64,964,545 till 65,165,437.
• The European Patent Office has granted Brighter’s patent application no.14864054.3, regarding method and device for logging drug injections made by a medical device with injector.
• Updated financial calendar
• First exercise period for TO4 took place February 22 – March 8.
• Brighter participated in the Swedish delegation of approximately 160 companies at the Mobile World Congress (MWC) in Barcelona. The delegation had its own pavilion this year.
• Brighter has called upon a fifth tranche of SEK 10 million from L1 Capital and issued additional free warrants to its existing shareholders.
• Brighter strengthened its management team by recruiting Petra Kaur as its Head of Marketing and Communication.
• Brighter informs of delay in CE certification process due to adjustments in production tools.
A message from the CEO.
When I look back on 2017, I think of it as the year when Brighter put the final building blocks in place for the delivery of Actiste in 2018. Great solutions have even more impact when they are part of a strong ecosystem, so we put significant effort into build the right links and relationships.
In Q1, we announced a partnership agreement with the supply chain management expert Sonat. A key part of the Actiste offering is that our customers will automatically be re-stocked with all the equipment they need (needles, lancets, glucose test strips, etc.), and Sonat has the expertise and infrastructure to take care of this for Brighter. With Sonat as our logistics and customer care partner, Brighter will also be able to quickly enter new geographical markets. We will focus on developing the solution, and Sonat will help us to deliver it.
In Q1 we also saw the listing of digital health R&D company Camanio Care – in which Brighter is the largest shareholder – on Sweden’s AktieTorget exchange. With the R&D partnerships it has around the world, Camanio Care is another key part of the broader ecosystem we are building.
We continued building out the ecosystem in Q2, signing a deal with mobile operator AIS in Thailand. AIS will provide the data-connected Actiste service over their network, helping Brighter bring better treatment to the estimated four million people in Thailand living with diabetes. Also in Q2 we signed an agreement to contribute to the development of the Indonesia Mampu poverty alleviation and healthcare program. Brighter is working in an advisory role as part of the Mampu program’s focus on diabetes prevention and treatment. We are honored to be the only med-tech company working with Mampu on diabetes.
The highlight of Q3 was definitely the granting of our key patent in the United States. Originally filed in 2007, this patent to check blood glucose and inject insulin from the same device had previously been granted in the EU and other parts of the world. Having it granted in the United States as well represents a major achievement for Brighter.
Later in Q4 we partnered with the managed services provider Arkessa to handle Brighter’s data connectivity requirements in the markets where we do not have agreements with local telecom operators. We also signed a logistics agreement with Speed Group for the warehousing and inventory management of Actiste in Sweden.
When it comes to the Actiste solution itself, we had moved from the investment, product design and development phase, into production, sales, marketing and CE-certification by the end of 2017. It has been a long journey, and we could not have done it without the backing of our investors, the efforts of our fantastic coworkers, and the trust of our many partners around the world. Thanks to all this support, Brighter is now on the verge of bringing the Actiste solution and its many benefits to diabetics around the world.
Truls Sjöstedt, Founder and CEO of Brighter AB.
For more information, please contact:
Truls Sjöstedt, CEO
Tel: +46 709 73 46 00
Email: truls.sjostedt@brighter.se
Ann Zetterberg, CFO
Tel: +46 708 37 21 23
Email: ann.zetterberg@brighter.se
About Brighter
Brighter is a Swedish-based company that, from a unique IP portfolio, creates smart solutions for one of the most serious healthcare problems: changing patient behavior. Chronic diseases such as diabetes are rapidly increasing and account for an increasing share of healthcare costs globally. Brighter's Business Model and Multi-Sided Market Platform - The Benefit Loop™ - is based on the fact that many special interests create value for each other. By increasing access to valid health data, Brighter creates value for all stakeholders in the care chain: patients and close associates, healthcare providers, research, pharmaceutical industry and society. www.brighter.se
About Actiste
Brighter's solution Actiste® handles most of the self-monitoring and treatment of insulin-treated diabetes in a single easy-to-use device. Measurement of glucose levels, insulin injection, and automatic logging and timing of all activity are done in a single unit. Actiste is connected via an autonomous and secure mobile connection, the information can be automatically shared with selected recipients through The Benefit Loop®, Brighter's open cloud-based service where data is collected, processed and analyzed.
Validated user-generated data, such as as test results, can be automatically transferred electronically to many different constituents. The patient selects when and how data is shared and who will have access to it. Through The Benefit Loop, different services can motivate patients with chronic illnesses to change their behavior, which can save lives, reduce relatives ' concerns, and release enormous healthcare resources. www.actiste.com
The Company's shares are listed on NASDAQOMX First North/BRIG. Brighter’s Certified Adviser on Nasdaq OMX First North is Remium Nordic Holding 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 08:45 CET on March 23, 2018.