Brain+ secures its first multi-year sales contract for Ayla – your CST Assistant with Syddjurs municipality

Copenhagen, Denmark, 5 December 2024 – Brain+ A/S (Nasdaq First North: BRAINP)

Brain+ A/S ("Brain+" or "the Company") has signed a 3-year renewal sales contract on the Danish version of Ayla – your CST Assistant with the Danish municipality of Syddjurs, marking a major commercial milestone for the Company. The new contract, valued at DKK 150,000, significantly expands on the introductory sales contract from January 2024, under which Syddjurs has successfully evaluated the product to enhance the delivery of group-based Cognitive Stimulation Therapy (CST) to people with dementia. While extending Syddjurs' access to use Ayla – your CST Assistant, the new contract leaves further value potential from integrating upcoming Ayla dementia care innovations, set to be released over the coming 1-2 years. Syddjurs represents ~0.7% of the Danish population and serves as a strategic entry point for scaling the adoption of Brain+’ Ayla dementia care platform across other municipalities.

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The Danish market drives valuable user feedback and product validation for Brain+

The Danish market provides critical user feedback and early validation of Brain+’ innovative dementia care products. To date, Brain+ has closed introductory sales contracts with five Danish municipalities, enabling them to evaluate the impact of Ayla – your CST Assistant to enhance the delivery of group-based Cognitive Stimulation Therapy (CST) to more people with dementia. As these introductory contracts approach their end, Brain+ is engaging customer on extensions and upgrades. This has now yielded the first successful outcome with an upscaled 3-year recurrent contract, valued at DKK 150,000, with the municipality of Syddjurs. The renewal contract represents a substantial increase over the initial contract, signed in January 2024, while leaving upside from future integration of additional Ayla dementia care products set to be released by Brain+ over the coming 1-2 years. Discussions with both current and prospective customers are ongoing, demonstrating the growing interest and long-term market potential for Brain+ solutions.

Devika Wood, Chief Commercial Officer in Brain+, commented on the news:

“Securing our first multi-year contract with a Danish customer is a significant commercial milestone for Brain+. It demonstrates that Ayla – your CST Assistant addresses a real market need and validates the product’s quality and effectiveness in enhancing CST delivery. While the Danish CST market is relatively small, the early user feedback and strong support we get from our Danish partners are invaluable. As we look ahead, our primary commercial focus is on the much larger UK market, where CST is a recommended and widely adopted dementia therapy, and where the value of digital healthcare solutions is well recognized by both NHS memory services and private care homes. From our current customer discussions, we can see a real market fit of our solutions to UK dementia care market needs.”

In addition to its commercial use, Ayla – your CST Assistant is also being implemented in another six Danish municipalities under the Brain+ led and grant funded CO-PI project for the implementation and scaling of CST in Denmark. The potential of Brain+’ Ayla dementia care solutions is steadily gaining traction among the 98 Danish municipalities.

Primary commercial focus on the UK market, where the first sales are expected in 2024

Brain+ has commercial focus on the United Kingdom (UK) that represents a highly attractive and scalable market for the Company’s innovative Ayla suite of dementia care solutions. An estimated 1 million people live with dementia in the UK, and CST is recommended for nationwide implementation, while the country also has a generally high readiness for digital health tech solutions. With targeted outreach ongoing to both public NHS memory service units and to the private care home market, The UK market is expected to serve as the primary revenue growth driver for Brain+ over the coming 2-3 years, and the Company retains expectations to close the first introductory UK sales contracts before end 2024. 

Contact Information

CEO and Co-founder, Kim Baden-Kristensen: +45 31 39 33 17, 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.