SciBase receives order of up to 1 million SEK within a new customer segment in Italy

SciBase has signed a new distribution agreement in Italy with International Health and Fitness Organisation AB (IHFO), a Swedish distributor active in Italy, within a completely new customer segment. As part of the signing, SciBase received an initial order of approx. 0.5 million SEK consisting of Nevisense systems and single use electrodes for delivery during the fourth quarter 2017. In addition IHFO has an option to place a follow-up order of more Nevisense and electrodes of an additional 0.5 million SEK to be delivered during 2018. The Nevisense systems ordered by IHFO will be placed at a number of pharmacies and non-specialist clinics in Italy that will perform melanoma screening tests.

-This is a very interesting co-operation for us, as it is a customer segment that we previously haven’t sold to. The Nevisense test will be combined with visual screening and be performed by the staff at the pharmacies or clinics. This could potentially be a huge opportunity for us, partly as it is a new customer segment but also if it is successful this could be rolled out in other markets together with IHFO, says Simon Grant, CEO SciBase.

Within the framework of the agreement IHFO will market Nevisense towards non-specialists. Nevisense will be used as part of a screening evaluation and complement traditional visual evaluation.  These Nevisense systems will primarily be placed at pharmacies and non-specialist clinics and IHFO will train the staff in how to use Nevisense and how to integrate it into the screening process.

The distribution agreement is split into two phases and together the total potential order value is close to 1 million SEK. The first phase, at a value of 0.5 million SEK, will be delivered during the fourth quarter 2017. If the initial implementation is successful the rest of the order will be delivered during 2018. Initially the agreement applies to Italy, but there is the possibility to roll out this model to at least three additional markets in Europe adding additional sales potential.  

For more information, please contact:
Simon Grant, CEO SciBase
Phone: +46 72 887 43 99
Email:
simon.grant@scibase.com  

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 above, at 16.15 CET on November 7, 2017.  

About SciBase and Nevisense
SciBase AB is a Swedish medical technology company, headquartered in Stockholm that has developed a unique point-of-care device for the accurate detection of malignant melanoma. Its product, Nevisense, helps doctors to detect malignant melanoma, the most dangerous type of skin cancer. 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 now also a FDA clearance 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. SciBase is listed on Nasdaq First North (“SCIB”). Avanza is the certified advisor. Further information is available on www.scibase.com  

About Us

SciBase is a Swedish medical technology company founded in 1998 that has developed Nevisense, a point-of-care device for the accurate detection of malignant melanoma. Nevisense has emerged from more than 20 years of research at Karolinska Institute in Stockholm and at SciBase. The device is designed to be provide additional information when evaluating lesions with a suspicion of melanoma. Nevisense is based on a technology called Electrical Impedance Spectroscopy (EIS), which uses the varying electrical properties of human tissue to categorize cellular structures and thereby detect malignancies. The CE-marked system consists of an electrode on a hand-held probe connected to a small portable device performing the analysis and displaying the result. A video describing the Nevisense method is available on: www.scibase.se/en/the-nevisenseproduct and further information is also available on www.scibase.com.

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