Investment after the completion of the new share issue
VibroSense gains new momentum after the completion of the new share issue and increases investment in existing markets. At the same time, the company plans to gear up with more activities to reach out to new countries and thereby accelerate the company's sales.
VibroSense will mainly focus the use of the issue proceeds in the areas of sales and marketing, which is completely in line with what was communicated before the recently concluded new share issue.
Organization
The company will strengthen its own organization in the area of sales, but also take new approaches with foreign partners to market the product VibroSense Meter® II internationally. An important factor will be finding one or more partner(s) for distribution and sales.
Planned activities
During 2024, several activities are planned where VibroSense will participate in three international congresses. The congresses are focused on Diabetes, Italy (Neurodiab) and Germany (Herbstagung), as well as on Occupational Health Care, Great Britain (IOHS).
The purpose and goal is to launch our product in more markets and reach out more widely to increase the company's sales.
Increased investment in Germany
During the spring and summer, the company will expand its investment in Germany, where VibroSense has begun the search for partners and distributors to accelerate sales.
China
The investment in China will continue without any changes. Within the next 6 months, there are three important milestones:
1) “Supplementary Notice" from NMPA in June 2024.
2) Response from the company to NMPA on "Supplementary Notice” in September 2024.
3) Decision from NMPA on regulatory permission to sell our product in China December 2024.
During the remainder of 2024, the company enters a phase where promotional and sales material will be developed and produced in collaboration with our partner for the Chinese market. Given that the company receives approval from the NMPA, deliveries to China will then begin.
Ongoing Pilot Projects
Two highly interesting pilot projects are currently underway where the VibroSense Meter® II is evaluated in diabetes (Diabetic Foot Screening). One project is carried out by the Steno Diabetes Center in Odense, where the internal care process is evaluated. The second project is carried out at the University of Exeter, "Center of Excellence for Diabetes Research”.
In autumn 2024, a first outcome is expected to be presented. If all goes well, these projects are expected to generate both increased sales and scientific publications that strengthen the position of Diabetic Foot Screening in diabetic foot care.
"We have a solid and well-planned program for the rest of the year. Our regional priorities will continue to be the Nordics, Germany and China, but the new capital injection also implies that we have already started evaluating further 2-3 new markets for the launch of our product. The capital injection implies that we can increase our investments in the area of sales and marketing. This is our main priority to accelerate the company's rate of expansion," says Hans Wallin, CEO of VibroSense Dynamics AB.
Contact
Hans Wallin, CEO VibroSense Dynamics AB
Tel: +46 40 88 026
Email: info@vibrosense.com
www.vibrosense.com
"The new Gold Standard for reliable
detection of nerve damage"
About VibroSense Dynamics AB ( publ )
VibroSense Dynamics AB ( publ ) develops and sells medical technology products and services for diagnostic support for nerve damage in the hands and feet. The method involves measuring and quantifying the ability to feel vibrations at several frequencies. The company's customers are diabetes clinics, occupational health care, hospitals, health centers and researchers.
Our vision is that the company's products should be a standard instrument in all neurological examinations to detect early signs of changes in sensation so that patients and their caregivers can implement preventive measures that prevent, reduce or delay the onset of nerve damage in the hands and feet.