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Glycorex Transplantation AB (publ): Interim Report January – March 2023

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January – March 2023

  • Net sales: SEK 7.0 million (6.8)
  • Operating income: SEK -4.3 million (-4.0)
  • Net income for the period: SEK -4.3 million (-4.1)
  • Earnings per share: SEK -0.06 (-0.06)

Summary of the quarter

  • 3% sales growth.
  • The first study on whole blood is published showing that Glycosorb® ABO effectively reduces anti-A/B antibodies without increased haemolysis (destruction of red blood cells).
  • The first blood group incompatible kidney transplant with Glycosorb® ABO in South Africa is performed.
  • Great Ormond Street Hospital in England performs its 18th blood group incompatible paediatric heart transplant using Glycosorb® ABO. All transplants have been performed with successful results.
  • The company’s quality system has been inspected and approved by its Notified Body.
  • The company’s new Head of Marketing and Head of Sales take up their positions and the recruitment process for a dedicated function in the area of transfusion starts.

CEO comment

“Net sales during the first quarter of the year amounted to SEK 7.0 million (6.8), corresponding to a growth of 3 percent. This means that Glycorex has now had positive growth figures for five consecutive quarters and that the growth over the past twelve months amounts to 20.5 percent. Operating income for the quarter amounted to SEK -4.3 million (-4.0).

This quarter we have seen clear examples of how our G4G strategy is delivering results. The success in South Africa is extremely encouraging and shows how crucial our technology can be to people’s quality of life. The patient transplanted in Cape Town had been waiting for a new kidney for 10 years. The whole blood study in the US is also very encouraging as it shows that we can expand into new areas with existing technology. During the quarter, we resumed the preparatory work for a registration application in the US and intensified the launch of our product for the production of universal blood products.

We will continue to focus on the projects and the areas that have the best opportunities building an even stronger Glycorex.”
- Johan Lavén, CEO

For more information, please contact:

Johan Lavén, CEO
Email: johan.laven@glycorex.com
Tel: + 46 (0)73 330 92 16

This information is the kind of information Glycorex Transplantation AB (publ) is obliged to make public under the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person above, on May 24, 2023, at 08:00 CET.

Brief information about the company

Glycorex Transplantation AB (publ) is a global medical technology company headquartered in Sweden. The company has developed a unique technology to select and remove specific antibodies in the blood.

Glycosorb® ABO is one of the company's self-developed proprietary medical devices that is used to facilitate blood group-incompatible transplants. Whilst primarily used to facilitate blood group incompatible kidney transplants, Glycosorb® ABO is also used in blood group incompatible liver-, heart-, lung-, and stem cell transplants. More than 60 scientific papers have been published in reputable medical journals, showing excellent short- and long-term outcomes of blood group incompatible transplants performed with Glycosorb® ABO. Glycosorb® ABO has been used in more than 6,000 transplants in over 25 countries. In addition to Europe, Glycosorb® ABO is used in Australia, Canada, India, Israel, Mexico, Singapore, South Africa, and Thailand, for example.

The company has also developed a CE-marked medical device product for the production of universal (low titer) blood products and is collaborating with a leading European research institute to develop a product for the treatment of the autoimmune disease rheumatoid arthritis.

Glycorex Transplantation AB (publ) is listed on NGM Main Regulated Equity (Nordic Growth Market) and is traded under the symbol GTAB B

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