Pharmacolog signs letter of intent with HiperScan GmbH regarding sales cooperation

Pharmacolog AB has signed a letter of intent with HiperScan GmbH to enter mutual collaboration regarding sales in selected markets. The companies will also investigate possible areas of cooperation regarding technology and product integration.

The letter of intent means that the parties are working to establish a formal partner agreement on sales collaboration where HiperScan will sell Pharmacolog's products in certain key markets and Pharmacolog markets and sells HiperScan's solutions, especially their Apo-Ident®, in markets where Pharmacolog is strong and has its own representation. HiperScan was founded in 2006 as a spin-off from the Fraunhofer Institute in Dresden and today has about 60 employees. The company's best seller - Apo-Ident® - is used for the control of raw materials in hospital pharmacies. HiperScan has been the market leader in Germany in this segment since 2012 and today has more than 2,700 systems installed. The product is based on a spectroscopic method called NIR (Near Infrared)

Mats Högberg CEO of Pharmacolog comments: “HiperScan has very interesting solutions and a very strong position in the German-speaking countries, an area where we see great potential for DrugLog® and PrepLog®. It is also the same customer groups that we work with and our respective products complement each other well. Apo-Ident controls the quality of the raw materials used by the hospital pharmacy to manufacture drugs and substances. Pharmacolog's solutions carry out quality control on what leaves the pharmacy. Both companies also have great expertise in spectroscopy, though in different areas. I am very much looking forward to establishing a close relationship with HiperScan and greatly increasing our presence in the German-speaking market."

For more information contact:

Mats Högberg, CEO

Email: mats.hogberg@pharmacolog.com
Phone: +46
70-546 50 21

This information is insider information that Pharmacolog AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication through the agency of the contact person set out above, on July 1st, 2020 at 8:45.

About Pharmacolog AB

Pharmacolog is specialized in developing systems and solutions for more effective and safer use of intravenous drugs. The company's first product, DrugLog®, enables a nurse or pharmacist to quickly and easily verify that an injectable drug has the right identity and concentration. Pharmacolog's long-term vision is an individually optimized medication for each individual patient, considering all available parameters in the control and distribution of the drug. Further information regarding the company is available at www.pharmacolog.com. The company's Certified Adviser is Mangold Fondkommission AB, which can be reached on telephone number +46 8-5030 15 50 or through CA@mangold.se.

About Us

Pharmacolog specialize in efficient solutions to optimize intravenous medication and prevent errors. With our safety device DrugLog®, our ambition is to simplify the reconstitution and compounding process of medical drugs and avoid medication errors. With DrugLog®, you can quickly verify that the intravenous medication is accurate before it’s given to the patient. ReVal™ is an application that provides an assisted workflow when preparing pharmaceuticals in pediatric care.

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