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CEO Comment June 2022 – Several Accomplishments & Positive Progress

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It’s been a busy and eventful first half of 2022, so I just want to share some thoughts with you as we head into full summer.

The fact is that a lot of positive things are happening in the company: 

  • Actiste® is being used in Qatar with the aim to improve the lives of people living with diabetes.
  • Actiste® is being used for clinical research by diabetes patients in the United Kingdom. 
  • We are getting closer to commercialization in the United Arab Emirates where a number of healthcare facilities have signed up for participation in the upcoming user pilot initiated together with the Emirates Health Services (EHS). 
  • In the West Java user study in Indonesia, 100 orally and insulin-treated patients for type 2 Diabetes Mellitus have been identified, (comprising 70 patients from a public hospital and 30 patients from a private hospital) and 42 of the patients have already signed the consent form to join the study.
  • In the Kingdom of Saudi Arabia (KSA) the Communications and Information Technology Commission (CITC) has invited Brighter to apply for participation in the “Emerging Technologies Regulatory Sandbox” initiative. Its aims include permitting innovative technologies to operate in KSA on a trial basis, exempted from the full weight of regulations. For Brighter’s part, this could potentially remove or reduce the legal requirements on data processing and data roaming that have thus far hindered Brighter’s efforts to commercialize our Actiste Diabetes Management as a Service (ADMS) solution in KSA. We believe that this could be a first step towards being able to help large numbers of diabetes sufferers in a region where 18.7% of the adult population are diagnosed with diabetes and as much as 43.6% of the population are undiagnosed diabetics. Tragically, KSA suffered deaths of 32 thousand people in 2021 due to diabetes-related complications and the diabetes-related expenditure in the country amounts to USD 7.5 billion annually (Data from IDF Diabetes Atlas 2021). We hope that KSA could be an exceptional platform for demonstrating the benefits ADMS can offer not only to reducing human suffering and collateral costs of complications from diabetes but also to enhancing the efficiency and cost-effectiveness of diabetes care. 

To have achieved all of this in just the first half of 2022 is a major accomplishment for everyone at Brighter. I believe this, along with other initiatives, provides a solid foundation for the continuing commercialization of Actiste® through the rest of the year and beyond.

The company’s share-price performance this year is of course a disappointment for us all. It was reflected in the 45% participation in the exercise of warrants of series TO7, from which Brighter will receive approximately SEK 11.7 million before issuing costs. Even this was disappointing, albeit a natural consequence of the share price development, which was influenced at least in part by external macro-economic factors. The new funds will be used for the ongoing commercialization and the Board is, as always, continuously working on and evaluating different financing options for the Group. 

As we’ve worked towards the milestones mentioned above, we’ve also, with considerable success, been committed to reducing our burn rate and refining our processes and ways-of-working across multiple functions. I encourage you to read our blog posts about our logistics function and about our product marketing team. Both these pieces go into some of the great work we’ve been doing to make sure Brighter can deliver.

I’m also very satisfied with the support Brighter is receiving from diabetes experts in several countries. This is crucial for our credibility, helping us generate research results we can share with our customers and deepen our connections with decision-makers. Read more about the work we’re doing with Dr. Adrian Heald in the UK, and Dr. Haifa Fares in the UAE. 

It’s also very exciting for Brighter to have Johnny Ludvigsson now sitting on Brighter’s board. Johnny is one of the world’s top experts on diabetes and has won numerous awards over the years. His connections across the medical field are deep and wide. Read our extensive interview with Johnny to hear what he brings to Brighter.

Finally, I want to thank everyone who continues to believe in Brighter and subscribed for warrants during the year.. I also want to thank our team members and partners for their dedication, commitment and hard work. As we head into the second half of the year, I believe we have the people, solutions and processes in place to deliver on our potential for our stakeholders.

I wish you all a nice summer!

Erik Lissner

Interim CEO Brighter AB

For further information, please contact:
Investor Relations
ir@brighter.se

Certified Adviser
Brighter’s Certified Adviser är Mangold Fondkommission AB,
+46 8 5277 5020, ca@mangold.se, www.mangold.se.

About Brighter AB (publ)
Brighter is a health-tech company from Sweden with a vision of a world where managing chronic diseases is no longer a struggle. We believe a data-centric approach is a key to providing smarter care for chronic conditions. Our daily-care solutions are designed with a vision to facilitate the flow of real-life treatment data between chronic-disease patients, their loved ones, and their care providers – aiming to improve quality of life, easing the burden on healthcare systems, and opening new opportunities for data-driven research. Brighter's quality management system is ISO-13485 certified. In 2019 the company won the Swecare Rising Stars Award. The Company's shares are listed on Nasdaq First North Growth Market/BRIG.

For more information, please visit our website at https://brighter.se

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