SciBase submits reimbursement application and targets 2021 for first reimbursement coverage in the US

Stockholm, June 15th, 2020 - SciBase, a global healthcare company with a platform technology enabling innovative products for skin disorders such as skin cancer and atopic dermatitis, today announces that the company has submitted a reimbursement code application for its melanoma application to the Centers for Medicare & Medicaid Services (CMS) in the US.

CMS oversees the administration of medical procedures within Medicare and Medicaid, and their codes are also utilized by third-party payers. Medicare covers healthcare for the elderly and Medicaid covers uninsured patients.

 ”The SciBase team has delivered another important milestone and made significant progress in the US, positioning us for long-term sustainable growth. We are pleased that we have been able to submit our reimbursement code application to CMS without any delays given the challenges with the Covid-19 situation. The Medicare population is of particular interest to SciBase, given the higher rates of melanoma in the elderly. We continue to target 2021 for the first regional reimbursement coverage in the US.”, says Simon Grant CEO SciBase.

SciBase has recently accelerated its activities delivering on significant milestones for its shareholders marking a step change in the speed in which the Nevisense 3.0 is capturing market acceptance and share in our focus markets, Germany and the US.

• Nevisense 3.0 was launched in Germany in late 2018 and delivered greatly improved clinical workflow, test throughput and customer satisfaction.

• In November of the same year, new clinical guidelines were published supporting the use of Nevisense in the evaluation of atypical lesions by Onkoderm (a German dermatology organization for skin cancer prevention and therapy). The launch of Nevisense 3.0, together with inclusion in German guidelines, contributed to sales growth of more than 30% in 2019 in Germany, driven by a 50% increase in the number patients tested.

• Following the launch of Nevisense 3.0 in Germany, the Company's sales increased six quarters in a row (compared with corresponding period the previous year).

• SciBase received FDA approval for Nevisense 3.0 in April 2020, and the Company now offers the third generation of Nevisense on the US market.

• In May 2020, a collaboration agreement between SciBase and the US largest dermatology chain, Advanced Dermatology and Cosmetic Surgery group (ADCS), was also initiated.

For more information, please contact:
Simon Grant, CEO SciBase
Tel: +46 72 887 43 99
Email: simon.grant@scibase.com
 

Certified Advisoer (CA):
Avanza
Tel: +46 8 409 421 20
Email: corp@avanza.se

About SciBase and Nevisense
SciBase AB is a Swedish medical technology company, headquartered in Stockholm that has developed and sells a unique point-of-care device for evaluation of skin disorders such as skin cancer and atopic dermatitis. Its first product, Nevisense, helps doctors to detect malignant melanoma, the most dangerous type of skin cancer. Further development has led to Nevisense also being used as a tool to assess the skin barrier and inflammation. SciBase was founded by Stig Ollmar, Associate Professor at The Karolinska Institute in Stockholm, Sweden. Nevisense is based on substantial research and has achieved excellent results in the largest clinical study ever conducted on the detection of malignant melanoma. Nevisense is CE marked in Europe, has TGA approval in Australia and an FDA approval (PMA) in the United States. Nevisense is based on a method called Electrical Impedance Spectroscopy (EIS), which uses the varying electrical properties of human tissue to categorize cellular structures and thereby detect malignancies and abnormalities. SciBase is listed on First North Growth Market (“SCIB”). Further information is available at www.scibase.com.