Brighter Interim report January-March 2018: Momentum towards Actiste delivery continues.
The full Interim report is available on Brighter's website www.brighter.se. The Interim report is also attached as a pdf file to this press release.
Momentum towards Actiste delivery continues.
First quarter summary, January–March 2018.
- Capitalized expenditure for development work reached SEK 6,813 thousand (4,718)
- Operating income amounted to SEK 7,163 thousand (5,562)
- Profit for the period amounted to SEK -11,012 thousand (-4,836).
- Earnings per share, before dilution amounted to SEK -0.17 (-0.07).
- Earnings per share after dilution SEK -0.17 (SEK -0.07).
|KSEK||Jan-Mar 2018||Jan-Mar 2017||Jan-Dec 2017||Jan-Dec 2016||Jan-Dec 2015|
|Net financial items||-1||-2||-2,897||-238||-74|
|Profit before tax||-11,012||-4,836||-27,292||-14,683||-12,195|
|Equity per share (SEK)||1.31||0.97||1.35||1.01||0.77|
|Capital adequacy (%)||77%||77%||78%||76%||70%|
For definitions, see note 24 in Brighter’s 2017 Annual Report.
Significant events during the period.
- In November the PRV [Swedish Patent and Registration Office] granted patent application 155057114864054.3 regarding a method and device for logging drug injections made by a medical device with an injector.
- Brighter was part of the Swedish delegation of approximately 160 companies at the Mobile World Congress (MWC) in Barcelona.
- Brighter strengthened its management group and hired Petra Kaur as its Head of Marketing and Communication.
- Brighter notifies delays in CE marking as a result of the fine tuning of tools.
- Brighter and FRISQ have initiated a strategic partnership to strengthen healthcare infrastructure.
- Brighter’s solution Actiste® has been nominated for the Design-S Swedish Design Awards 2018, in the category Industrial and Product Design B2B.
- Brighter has called upon a fifth tranche of SEK 10 million from L1 Capital and issued additional free warrants to its existing shareholders.
- The number of shares in Brighter AB has increased. The total number of shares and votes has increased from 64,964,545 till 65,826,337.
- First exercise period for TO4 took place February 22 – March 8. 111,770 warrants were converted, contribution SEK 672 thousand to Brighter.
Significant events after the end of the period.
- Brighter’s diabetes solution Actiste wins the Red Dot Award for good design and quality.
- Barbro Fridén, who also is on the boards for Vitrolife and Getinge, are proposed as new Chairman of Brighter’ Board of Directors.
- Brighter is nominated to ”Rising Star” by Swecare.
- Catarina Ihre proposed as a new member of Brighter's Board of Directors. She has extensive experience in Investor Relations from among others SSAB and Electrolux.
- First exercise period for TO3 took place April 10 – April 25. 221,111 warrants were converted, contribution SEK 884 thousand to Brighter.
- The number of shares in Brighter AB has increased. The total number of shares and votes has increased from 65,826,337 till 66,978,124.
A message from the CEO.
As we eagerly await the anticipated CE-approval of Actiste, Q1 saw several developments that help us prepare for the delivery of the solution later this year.
In January, The European Patent Office granted Brighter's application related to a method for logging injections made by a medical device. This patent – previously granted to Brighter in Sweden only – is now ours Europe-wide. This is excellent news, further strengthening our Intellectual Property portfolio and the strategy we’re building for that.
In February, we joined the rest of the global technology industry in Barcelona for Mobile World Congress (MWC18). Brighter participated in the event as part of a Swedish delegation, and Actiste was one of the main attractions at the pavilion of our key partner Ericsson.
At the beginning of March, we appointed Petra Kaur as Brighter’s head of marketing and communication. In order to formally take this full-time role – which she had previously worked in as a consultant – Petra has stepped down from the Brighter Board of Directors seat she has held since 2014. With both agency-side and client-side marketing experience from the pharma and healthcare sectors, Petra has the right background to lead Brighter’s go-to-market efforts as we head into this next phase.
Also in March, we announced a strategic co-operation with fellow Swedish company FRISQ, which develops digital tools for personalized care plans. Our joint ambition is to further the development of the conditions and infrastructure needed for better flow of healthcare information and remote monitoring. The companies complement each other very well, and we see a variety of positive synergies in the partnership.
We ended the quarter on a very positive note, with Actiste being nominated for Sweden's most prestigious design award: The Design-S Swedish Design Awards 2018, in the category Industrial and Product Design B2B. It’s encouraging for Actiste’s functional and ergonomic design to be recognized by such a prestigious forum.
Thank you for your ongoing support!
Truls Sjöstedt, Founder and CEO of Brighter AB.
For more information, please contact:
Ann Zetterberg, CFO
Tel: +46 708 37 21 23
Truls Sjöstedt, CEO
Tel: +46 709 73 46 00
Brighter is a Swedish-based company that, from a unique IP portfolio, creates smart solutions for one of healthcare’s biggest challenges: changing patient behavior. Chronic diseases such as diabetes are rapidly increasing, and account for an increasing share of healthcare costs globally. Brighter's Business Model and Multi-Sided Market Platform - The Benefit Loop™ - is based on the fact that many special interests create value for each other. By increasing access to valid health data, Brighter creates value for all stakeholders in the care chain: patients and their close associates, healthcare providers, research institutes, the pharmaceutical industry, and society as a whole. www.brighter.se
Brighter's solution Actiste® handles most of the self-monitoring and treatment of insulin-treated diabetes in a single easy-to-use device. Measurement of glucose levels, insulin injections, automatic logging, and timing of all activities are performed from a single unit. Actiste is connected via an autonomous and secure mobile connection, and information can be automatically shared with selected recipients through The Benefit Loop®, Brighter's open cloud-based service where data is collected, processed and analyzed with patient consent.
Validated user-generated data, such as glucose levels or insulin doses, can be automatically transferred electronically to many different constituents. The patient selects when and how data is shared and who will have access to it. Through The Benefit Loop, different services can motivate patients with chronic illnesses to change their behavior, which can save lives, reduce relatives' concerns, and release enormous healthcare resources. www.actiste.com
The Company's shares are listed on NASDAQOMX First North/BRIG. Brighter’s Certified Adviser on Nasdaq OMX First North is Remium Nordic Holding AB +46 (0)8 – 454 32 50, CorporateFinance@remium.com, www.remium.com.
This information is information that Brighter AB is obliged to make public pursuant to the EU Market Abuse Regulation and the Securities Markets Act. The information was submitted for publication, through the agency of the contact persons set out above, at 08:45 CEST on May 15, 2018.