Scandinavian ChemoTech provides a status report and wishes everyone a pleasant midsummer and holiday
It has been full speed ahead for both Human and Animal Care during the first 6 months of the year, which has been filled with both clinical progress and the establishment of new partners for the two business areas.
We have soon gone through half of 2022, which has been filled with some of the Company's greatest successes.
At the end of 2021, the Company shifted its focus to marketing and sales measures within Animal Care. Although it has not yet resulted in any major sales progress, we are fully convinced that this was a wise decision that will benefit the Company's cash flow in a near future.
Active customer relationships are increasing in Europe and the USA
Our efforts in both Scandinavia, Europe and the USA have gradually increased the number of active customer relationships, where treatments are already being performed today or where introductory treatments are planned to start shortly. To date, we have concentrated our efforts on the larger players where we see great economies of scale and through larger procurements where we can offer cost-effective solutions to the clinics.
Our business model today offers more financial solutions for increased flexibility
Through responsiveness from several ongoing negotiations within the Company's two business areas, our business model has today created great flexibility for those hospitals and clinics that want access to our TSE technology.
Today we can offer:
• Direct sales
• Financial leasing (purchase by instalment)
• Operational leasing, where the equipment is returned after the end of the leasing period
• Day rental (only in certain geographical locations)
Important clinical advances and collaborations for further clinical studies
The fact that Sweden's and India's large exchange program “India-Sweden Healthcare Innovation Centre” has chosen to include ChemoTech as a technology partner is very big for ChemoTech but also for several hundred thousand cancer patients where the traditional treatments have not worked. The AIIMS hospital plan is to start a study to develop a treatment protocol for TSE within the federal healthcare system in India. In the event of a successful outcome in a study at AIIMS, we create the conditions for reaching all state hospitals that conduct cancer care with IQwave™. Since TSE is a unique technology that only ChemoTech can offer, according to current regulations, the hospitals will not have to carry out public procurement, which entails that we can reduce the competitive picture in a very positive way.
Animal Care (Vetiqure AB)
The Animal Care business has made several minor advances in the clinical area through successful treatments on both dogs and horses, something that has created many ripples on the water through direct bidding procedures on most clinics in Sweden as well as in Europe and the USA. Several countries in Asia and Australia have shown interest. However, it will be important that we do not act shattered across several regions at present - before we have created significant cash flows to secure the future expansion of the business.
Although we cannot ensure success in all our ongoing negotiations, we have so far not encountered any doubts that the veterinarians would change their interest in TSE.
We are now moving quickly towards holiday times, which of course affects the activities of our customers and partners. We as a Company, therefore, strive to try to take advantage of the passive time to let our staff recharge and get some real-time off, something that is extra important when a Company has such a high pace and relatively compact organization. We will leave certain parts of the Swedish organization vacant at the end of the so-called industrial holiday, even though the international part in the USA, the Middle East and Asia will ensure that our projects continue at the same pace as before.
We wish you all a wonderful midsummer and pleasant holidays.
For further information please contact: Mohan Frick, CEO
+46 (0)10-218 93 00
info@chemotech.se
Certified Adviser: Erik Penser Bank, Tel: +46 8 463 80 00, E-mail: certifiedadviser@penser.se
Scandinavian ChemoTech AB (publ)
ChemoTech is a Swedish medical technology company based in Lund that has developed a patented technology platform to offer cancer patients access to a new treatment alternative, Tumour Specific Electroporation (TSE™), available for treatment of both humans and animals. There are a large number of cancer patients whose tumours for various reasons cannot be treated by conventional methods but where TSE can be a solution. Therefore, the company continuously evaluates new opportunities and areas of application for the technology. ChemoTech's shares (CMOTEC B) are listed on Nasdaq First North Growth Market in Stockholm and Erik Penser Bank is the company's Certified Adviser. Read more at: www.chemotech.se.
