Senzagen strengthens US organisation and commercial presence with aim to enroll more licensees
Lund, October 11, 2018 - SenzaGen (Nasdaq First North: SENZA) today announces that the Company is strengthening its presence in the important US market through a major strategic recruitment. The recruitment of Dr. Joshua J. Schmidt as Business Development Director at SenzaGen Inc represents a further expansion of the Company's commercial organization and an increasing focus on establishing collaborations with both licensees and distributors, in accordance with SenzaGen’s recently communicated financial targets. In parallel with the recruitment, SenzaGen Inc also becomes a wholly-owned subsidiary, offering additional possibilities for steering the commercial strategy in the US.
SenzaGen is focusing on the chemical, cosmetics, pharmaceutical and medical device markets for global commercialization of the in vitro platform GARD®.
In 2017 and 2018, SenzaGen has gradually strengthened its commercial organisation and global presence through new agreements with strategic partners. The background to the recruitment in the US is that SenzaGen intends to accelerate its collaborations with both US licensees and industrial partners for the development of the GARD®portfolio.
"The US is a priority market, and through the recruitment of Joshua J. Schmidt, we are strengthening our organisation by adding significant network, knowledge and insight into the US market, which contributes to achieving our financial targets," says Anki Malmborg Hager, CEO of SenzaGen
Joshua J. Schmidt has extensive business and scientific experience from 3M, Medtronic and Bruker Daltonics, most recently as Senior Account Executive for a US-based CRO, Pace Analytical Life Sciences, where he worked with testing of pharmaceutical products and medical devices in the US.
"SenzaGen's technology is impressive and has true potential to significantly and positively impact the chemical and life science industries. I am excited to join SenzaGen at this time because I see great opportunity and potential for growth in the US and globally for GARD®”, says Joshua J. Schmidt, Business Development Director at SenzaGen Inc.
In conjunction with Joshua J. Schmidt’s appointment as Business Development Director, SenzaGen Inc becomes a wholly-owned subsidiary of SenzaGen AB (publ).
For more information, please contact:
Anki Malmborg Hager, CEO, SenzaGen AB
Telephone: +46 768 284822
GARD® is a group of tests for assessing chemical skin sensitizers. The tests make use of genetic biomarkers for more than 200 genes which cover the entire immune reaction and are relevant to predicting the risk of hypersensitivity. The tests have over 90 percent reliability.
This compares with the current predominant test method, experiments on mice, which has an accuracy of 70-75 percent. SenzaGen's tests are also capable of measuring the potency of a substance's allergenic properties. Consequently, GARD tests provide a much more comprehensive basis for determining whether a substance should be classified as an allergen than current testing methods.
SenzaGen makes it possible to replace animal experiments with in vitro genetic testing to determine the allergenicity of the chemicals we come into contact with in our daily lives, such as for example in cosmetics, pharmaceuticals, food products and dyes. The company's patented tests are the most reliable on the market and provide more information than traditional evaluation methods. We ourselves sell the tests in Sweden and the USA, and we sell through partners in several other countries. Over the next few years the company will expand geographically, make alliances with more distribution partners and launch further unique tests. SenzaGen has its headquarters in Lund in Sweden and a subsidiary in Delaware USA. For more information visit www.senzagen.com
This information is information that SenzaGen is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the contact person set out above on October 11, 2018, at 08.30.
SenzaGen AB is listed on Nasdaq First North in Stockholm and FNCA is the company’s Certified Adviser. For more information, please visit www.senzagen.com