Brighter cancels the launch of Brighter One.
The Board of Directors of Brighter AB decided at an extraordinary Board meeting today, February 6, 2015, not to launch the company's first product, Brighter One. Instead, the company will accelerate the development of its second product.
The launch of Brighter One was scheduled for March 2015, following the decision in September 2014 to make certain revisions, thus delaying the initial launch plan. After the first batch of products has been evaluated by Brighter quality assurance team, the Board of Directors has decided to cancel the launch.
”I am disappointed not to be able to deliver the product we planned, but completely agree with the Board that Brighter One does not attain the quality standards that one should expect from a company like Brighter”, says Truls Sjöstedt, CEO and Founder.
Brighter works with solutions in self-care and e-health, where the first development area is diabetes. Brighter One, the company's first proprietary product, is a tool intended to facilitate a normal way of life for millions of diabetics worldwide.
”We now accelerates the development of Brighter 2, which has functionalities defined in consultation with leading players in both the e-health sector in general as well as the pharmaceutical industry”, says Truls Sjöstedt.
The Board of Directors has requested that management investigate the options available to recover the costs related to the development of Brighter One from its development partner.
Brighter is holding a press conference (in Swedish) about the cancelled launch today, Friday February 6 at 15:00 CET at Nasdaq/OMX, Tullvaktsvägen 15 in Stockholm. You may alsp attend the press conference on WebEx.
Contact Rasmus Karlgren through email: rasmus.karlgren@angseliusronn.se or by phone +46-73-4307927 to gain accreditation to the press conference.
About Brighter AB (publ)
Brighter has developed a unique and patented integrated method for simplifying self-care of diabetes resulting in a device that combines diagnostics, medication and journaling - facilitating a normal way of life for millions of diabetics worldwide.
The Company's shares are listed on NASDAQOMX First North/BRIG.
Visit our website and subscribe to press releases: www.brighter.se
Certified Adviser
Brighter’s Certified Adviser on Nasdaq OMX First North is Remium Nordic AB, Per Grundström +46 (0)8 – 454 32 29, CorporateFinance@remium.com, www.remium.com.
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