SenzaGen presents a new commercial organization and a new financial target
The evolution of SenzaGen in recent years has seen the company change from a research organization to one with a strong focus on commercialization. Recently, a new CEO was appointed, and the company now announces a brand new commercial organizational structure with increased focus on marketing and sales.
In the past two months, SenzaGen's strategic plan, business goals and prioritized activities have been evaluated. A first result of this work is the establishment of a new commercial organization and a new financial target.
“The first step in the commercialization is an increased focus on collaboration with existing and potential customers, and an organization that enables this approach. It is clear that the company's platform of alternative methods meets the market's need for accurate, ethical and cost-effective methods that replace animal testing. However, commercializing a research company within life science takes time and our analysis leads to us reaching break-even in 2022," says Axel Sjöblad, CEO of SenzaGen.
An organization with increased focus on marketing and sales
The commercial activities will be led directly by SenzaGen's CEO Axel Sjöblad. Peter Nählstedt, Director of the Board of SenzaGen since 2018 and former CEO of Probi AB, has been appointed Acting Sales Manager. Tina Dackemark Lawesson takes the overall responsibility for Marketing and Communications and Anna Chérouvrier Hansson manages Business Development and the recruitment of distributors and licensing partners.
Break-even 2022
The new financial target to reach break-even in 2022 was adopted by SenzaGen's Board of Directors on September 19, 2019 and replaces the previous financial targets.
“When Axel took office, he was assigned the task of evaluating SenzaGen's strategy, business goals and sales potential, a work he had previously done successfully as CEO of BioGaia. His business analysis confirms our strategy and business model and suggests that the company implements a new and clearer commercial structure. This results in a minor shift in the profitability target since time is needed to give the sales organization an opportunity to deliver and to reach out with our cutting-edge technology. The Board supports this change, which will be led by a strong team with proven track record," says Carl Borrebaeck, Chairman of the Board of SenzaGen.
Conference call
SenzaGen invites press and investors to a conference call where CEO Axel Sjöblad comments on the new organization and profitability target on September 19 at 10.30 CET. The conference call will be held in English.
Phone number for the conference
To participate in the conference, use the dial-in numbers below:
SE: +46856642706
FR: +33170750720
DE: +4969222220377
NL: +31207219495
UK: +443333009267
This information is information that SenzaGen is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the contact person set out above on September 19, 2019, at 08.15 CET.
For additional information, please contact:
Axel Sjöblad, CEO, SenzaGen AB
Email: axel.sjoblad@senzagen.com | Mobile: +46 705-35 93 51
Tina Dackemark Lawesson, VP Marketing & Communications
Email: tina.lawesson@senzagen.com | Mobile: +46 708-202944
About GARD®
GARD® consists of a group of tests for analyzing chemicals’ ability to start an allergic reaction in humans. The tests are performed on human cells in test tubes (in vitro) in combination with artificial intelligence. By analyzing hundreds of markers, GARD® generates large amounts of data and delivers results with over 90 percent accuracy. This can be compared to today’s standard method – tests on animals – which only achieves 70-75 percent accuracy. The product portfolio consists of tests for skin and respiratory allergy: GARD™skin, GARD™air, GARD™potency and GARD™skin Medical Device.
About SenzaGen AB (publ)
SenzaGen’s technology enables replacement of animal experiments with genetic testing in test tubes for determining the allergenicity of the chemicals we come into contact with in our daily lives, such as those in cosmetics, pharmaceuticals, food products and dyes. The company’s patented tests are the most reliable on the market and provide more information than traditional evaluation methods. SenzaGen sells direct in Sweden and the US, and through partners in several other countries. Over the next few years the company will grow geographically, make alliances with additional distribution and license partners, and launch new unique tests. SenzaGen has its headquarters in Lund in Sweden and a subsidiary in the US. For more information, please visit www.senzagen.com.
SenzaGen AB is listed on Nasdaq First North in Stockholm (ticker: SENZA) and FNCA Sweden AB, +46(0)8-528 00 399 info@fnca.se, is the company’s Certified Adviser.
