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Inhalation Sciences Sweden AB (publ) releases Q1 Report 2021

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(Stockholm, Sweden, 19 May, 2021) Inhalation Sciences AB announces that the company's Q1 Report for 2021 (in Swedish) is now available on the company's website.

Summary of the interim report

  • ISAB has submitted a Clinical Trial Application with PreciseInhale® to the Medical Products Agency.
  • The company has received an expanded internationally registered trademark for PreciseInhale®.

Revenue for the first quarter of 2021 landed at just over 2 800 000 SEK, with, among other things, two PreciseInhale® systems being delivered to two new customers, the University of Vienna and Aquilon Pharma. This was in line with the projected revenue for the quarter.

Due to the ongoing pandemic, we see continued challenges with customer contact which, in turn, affected sales during the first quarter. However, we are expecting to be able to compensate for the loss in the coming quarters of 2021.

CEO statement

After a challenging and in many ways different 2020, we at ISAB have adapted our operations forward so that we can respond to the new reality that the pandemic has brought with it. This adaptation has affected all our functions, from R&D, customer training to sales and marketing. These customizations have included:

  • Increased digital marketing activities: During Q1 2021, we, together with our partner UP, worked a lot with our brand and simplified messaging around our technology and the significant benefits that our systems can entail in our customers' research work. This will be reflected in an updated website as well as an update of our sales and marketing materials.
  • We have expanded sales channels globally in:
  • Europe, via our own sales organization and TSE our existing distributor, where we continue to process existing and new customers.
  • USA, via a number of proven sales channels and agencies (Science and Colus Bio), where the plan is to get in direct contact with customers and institutions that may have use of our technology.
  • India, Bangladesh and Sri Lanka, via APEX Inhalation, a reputable local distributor focusing on the inhalation market. Apex has a minimum commitment of 3 000 000 SEK for 2021 and 2022.
  • These activities have resulted in an increased number of new dialogues with potential customers that are continuously in process, and which we hope to be able to concretize into formal orders in 2021.

Revenue for the first quarter of 2021 landed at just over 2.8 MSEK, where we delivered two PreciseInhale® systems to two new customers, the University of Vienna and Aquilon Pharma. This was in line with the projected revenue for the quarter.

Sales were not met during the first quarter, where the negative effects of the pandemic continued to challenge customer contacts and the availability of laboratory staff at our customers’ sites. We have observed a clear trend where customers take longer to reach a decision regarding laboratory system investments. However, our sales and sales forecast of approximately 15-20 MSEK for the full year remains, and we expect to be able to compensate for the loss in the coming quarters 2021.

The company's increased costs during the first quarter of 2021 are mainly related to work and preparations for the planned clinical study.

During the first quarter of 2021, we have worked intensively to prepare the submission of our Clinical Trial Application of PreciseInhale®. This work was completed at the end of March and the application is now with the Medical Products Agency for final approval in early June 2021. This is definitely a milestone in ISAB's history, ultimately demonstrating that our technology works as well in a clinical environment as in the pre-clinical. A successful study could open up a completely new market for ISAB, valued at several billion kronor and also make ISAB's comprehensive offering even more attractive.

With a dedicated organization and management as well as support from the board, we look forward to achieving our goals in 2021 and continuing to build long-term value ​​for our customers, partners and shareholders.

Huddinge 19 May 2021

Manoush Masarrat

CEO

For more information about Inhalation Sciences, please contact:

Manoush Masarrat, CEO

E-mail: Manoush.masarrat@inhalation.se

Mobile: +46 (0)73 628 9153

About Inhalations Sciences Sweden AB (publ)

Inhalation Sciences Sweden AB (publ) develops and commercializes world-leading instruments and services for research into inhalation. The company’s patented lab instruments PreciseInhale® and DissolvIt® enable researchers in the pharma industry to make drug pipeline decisions at an early stage, saving time and resources for R&D departments, and enables researchers in academic institutions to define how aerosols and small particles impact our lungs, and so our health, when being inhaled.

The information was provided, through company’s CEO for publication on May 19, 2021.

Tags:

Inhalation lung research aerosols drug formulation aerosol news lung cell research inhaled pharmaceuticals inhaled drug assessment

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