Brain+ closes new Danish municipality sales contract on Ayla – your CST Assistant
Copenhagen, Denmark, 1 November 2024 – Brain+ A/S (Nasdaq First North: BRAINP)
Brain+ A/S (“Brain+” or “the Company”) has signed a new introductory sales contract with the Danish municipality of Vesthimmerland. The contract gives elderly care home units in the municipality access to use Ayla – your CST Assistant to support their delivery of Cognitive Stimulation Therapy (CST) to people with dementia for a specific period. In June 2024, Brain+ released the Danish version of Ayla – your CST Assistant, which is being used by 6 municipalities in the ongoing grant-funded project on the implementation and scaling of digital CST. While Brain+ has a targeted commercial focus on the much larger and more mature UK dementia care market, the Danish version of the product has also been available for sales. So far in 2024, with one new contract been signed and sale of associated products, Danish sales amount to DKK 60 thousand, while dialogues are ongoing also with existing Danish customers on contract renewals and scaling.
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New Danish sales contract and ongoing customer dialogue on contract renewals and scaling
Brain+ has closed an introductory sales contract with the Danish municipality of Vesthimmerland, representing the first new customer in 2024. Vesthimmerland covers around 0.6% of the Danish dementia care market and of the approximately 100,000 people living with dementia in Denmark. The contract gives elderly day care centers and care homes, which are offering Cognitive Stimulation Therapy (CST) to people with dementia in the municipality, access to use Ayla – your CST Assistant for a specified period. Earlier in 2024, Brian+ has also sold boxes of supportive CST materials to two municipalities, and so far in 2024, new Danish sales represent a combined sales value of DKK 60 thousand.
Vesthimmerland is the 5th Danish municipality to have bought access to Ayla – your CST Assistant and other sales leads are open. In parallel, Brain+ is in active dialogue with existing municipality customers, whose introductory contracts are coming to an end, regarding contract renewals and scaling. This includes dialogue with Copenhagen as the largest Danish municipality of Denmark on potential scaling of their current access to Ayla – your CST Assistant to cover more care home user sites.
Growing awareness of the benefits of digitally supported CST in Denmark
The awareness of the benefits of CST for people with dementia is growing in Denmark. In parallel, Brain+ is experiencing increasing interest for Ayla – your CST Assistant to support a more effective and scalable delivery of the therapy and enable broader access. This includes very positive feedback on the value of the product from CST therapist in the six (6) Danish municipalities, who are being educated in CST and specifically in the use of Ayla – you CST Assistant as part of the ongoing Brain+ led CO-PI granted project on the implementation and scaling of digital CST to people with dementia in Denmark and internationally. Further, CST has during past months been featured in public media, and the Company’s development team is frequently invited to CareWare network meetings (professional network for care providers). The latter includes a request for the Company to present the concept of the Ayla platform and the ongoing work on a solution to support people with dementia from home.
Commercial focus on the UK and the role of the Danish market for Brain+
Brain+ has a targeted commercial focus on the United Kingdom (UK) dementia care market, which with ~1 million people diagnosed with dementia and CST publicly recommended and reimbursed as a therapy, represents a highly attractive and mature market for the company’s innovative dementia care solutions. The English version of Ayla – your CST Assistant was released in the UK as a medical device, documenting the products relevance and benefits, and customer outreach and awareness building is advancing well.
The primary role of the Danish home market in Brain+’ commercial strategy is to test and develop the products, get valuable early live use feedback from CST therapists and prove the demand, thereby preparing products for successful UK entry. Our work with CST and dementia experts support the transferability of learnings from the Danish market to the UK on both current CST challenges and how to best use Brain+’ Ayla dementia care platform to help overcome these challenges.
Despite the experienced growing interest for CST in Denmark, the Danish market will continue to serve primarily as a test market for Brain+, as long CST is not implemented as a therapy and not reimbursed. The UK is the commercial scaling market, where Brain+ will derive most of its revenues in the years to come.
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Contact Information
CEO and Co-founder, Kim Baden-Kristensen: + 45 31 39 33 17 (SMS), kim@brain-plus.com
CFO, Hanne Vissing Leth: +53 88 99 02, hanne@brain-plus.com
Brain+ vision:
Building the world’s first scalable dementia care platform to help people affected by dementia, live better lives
