Brain+ lands first large-pharma partnership deal to enter the German market for dementia products
BRAIN+ A/S (BRAINP)
Company Announcement No. 4-2021
Wednesday, December 15, 2021, 8:20 CET
The information communicated in this announcement is “inside information” for the purposes of article 7 of the Market Abuse Regulation 596/2014
Brain+ has signed a partnership agreement with RoX Health (https://roxhealth.com/), a subsidiary of the global pharma company Roche in Germany, to bring its first dementia products to the German market.
Germany is the largest and most interesting EU market to Brain+: More than 1.5 million people are living with dementia in Germany. With new and centralized reimbursement pathways, Germany is a leader in the adoption of digital medicine. To Brain+ this translates into significant commercial opportunities for delivery of its digital health solutions, and in particular software-as-medicine solutions, based upon rigorous scientific research and development processes.
Reimbursed digital medicine: The objective of the collaboration with RoX Health is to establish the Brain+ dementia product as a reimbursable digital medicine at a national healthcare level in Germany. This would mean that it will be covered by the healthcare funds across all of Germany. This is achieved by taking the product through the new German regulatory process called the DIPA (“Digitale Pflegeanwendungen“), which approves digital care applications for reimbursement nationally.
Significant deal size and contribution: RoX Health is contributing an undisclosed six-figure EUR amount in cash and expert consulting hours to assist Brain+ in market entry for its dementia ‘software-as-medicine’ product currently called Cognitive Stimulation Therapy. The deal thus provides significant resources and key expertise in order to establish Brain+ in the biggest European market.
Commercial launch by 2023 – to years earlier than expected: Brain+ aims to have the first product version available in Denmark and Germany by 2023. The initial version of the Cognitive Stimulation Therapy (CST) products will be offered to trained therapists working directly with people suffering from dementia. Later product versions will focus on at-home delivery of the therapy. RoX Health will get a share of the initial years of net revenues, covering the first two product versions of the planned Cognitive Stimulation Therapy products, which establishes a critical and mutual incentive for success.
Kim Baden-Kristensen, Co-founder and CEO, Brain+ comments: “Closing the first big-pharma partnership is a major milestone for the whole team. RoX Health is a digital spearhead and venture builder subsidiary from Roche, one of the most prominent global pharmaceutical players in the Alzheimer’s and dementia space. We have worked on this project for almost a year and after a successfully concluded – and thorough - due diligence with RoX Health, it was decided to now take this first important step. We are delivering on the plan we set out to do, beginning with the IPO. This is the first major achievement on this journey, and it has come quicker than we could have hoped for. Rox have done a thorough analysis of the digital players in the Alzheimer’s and dementia space, and they have chosen Brain+, I am thankful and thrilled. I consider this a major validation of the large potential of our dementia solutions and of our approach to the market.”
Dr. Robert Schnitzler (Managing Director, RoX Health): “Patients with Alzheimer’s disease and their families are in great need of support. We are quite excited to start a collaboration with Brain+ in order to address this need.”
Dr. Nikos Green, Senior Venture Architect & PO Neuroscience, Rox Health: “RoX Health is partnering with Brain+ to help Brain+ establish its presence in Germany, in this project specifically through the DIPA scheme (“Digitale Pflegeanwendung”). The digital care applications - Cognitive Stimulation Therapy (CST) will be offered initially to therapists and caregivers.We have done thorough analysis of digital solutions in the Alzheimer’s and dementia space, and based on this we find the Brain+ technologies very promising, and this collaboration allows us to both help and get closer to Brain+.”
CEO, Kim Baden-Kristensen + 45 31393319, E-mail: email@example.com, Brain+ A/S, Købmagergade 53, 3.
Certified Advisor: Keswick Global AG, + 43 1 740 408045 , E-mail: firstname.lastname@example.org
About BRAIN+ [BRAINP]
The mission of Brain+ is to restore patients’ independence and quality of life by treating and detecting cognitive decline in Alzheimer’s disease and dementia through software-as-medicine applications. Brain+ has developed a set of software-as-medicine technologies, which enable the Company to create a unique and differentiated product offering. These technologies, combined with a strong clinical pipeline, puts Brain+ in a strong position to grow towards a market leader position in the Digital Therapeutics (DTx) space.
About RoX Health
RoX Health is a digital health accelerator rooted in Roche that turns ideas into healthcare businesses and encourages greater initiative in the healthcare industry. RoX Health has acquired an outstanding reputation as a venture builder and advisory firm in the business world. Rox Health is a subsidiary of the German Roche organization.