ZICCUM AB (publ) Q4 and Year-End Report 2018
Ziccum CEO Göran Conradson: “We have a competitive offer in a huge, extremely interesting market, a market where we can deliver significant benefits to patients, and create value for our shareholders.”
Year-end report in brief
- The subscription period for Ziccum’s issue of units ended on October 3, 2018, in advance of listing on Spotlight. The share issue amounted to approximately SEK 15.8m and was subscribed at approximately SEK 52.7m which corresponds to a degree of subscription of approximately 334%
- Ziccum’s shares were listed on Spotlight on October 25, 2018
- Ziccum achieved proof-of-concept during the year by drying a selection of anti-bodies and received it’s initial order for a feasibility project for a client with a substance in pre-clinical stage of development
Significant events after the reporting period
- Ziccum reported on January 10, 2019, that the company had filed a patent application regarding Adenovirus with a dry and temperature-stable formulation which meets the WTO’s requirements for CTC-status
|Selected financial data|
|Operating profit/loss||-1 734||-123||-4 210||-338|
|Result after tax, SEK||-1 734||-174||-4 571||-389|
|Total assets||12 785||1 737||12 785||1 737|
|Cash flow for the period (SEK)||9 721||28||10 256||280|
|Cash flow per share (SEK)||1.80||0.01||2.85||0.10|
|Cash||10 536||280||10 536||280|
|Earnings per share before and after dilution (SEK)||-0.32||-0.06||-1.27||-0.14|
|Equity per share (SEK)||2.00||0.57||2.00||0.57|
|Equity ratio (%)||94%||98%||94%||98%|
|*Company founded on April 5, 2017|
Many major drugs cannot today be produced in dry form, but only as liquids that have to be stored between 4 - 8 degrees C. This involves complex logistics and transport, with most biological drugs and vaccines requiring major resources in the form of packaging, handling and transportation, in turn leading to many patients not being able to access treatment or vaccination.
Our unique, patented technology LaminarPace makes it possible to produce biological drugs in dry form. Dry form is always sought after when developing new drugs. It has many benefits: It increases the product's stability and shelf life, facilitates transportation throughout the supply chain, from factory to patient, and enables the distribution of drugs to new places where refrigerated and freezer storage is a major challenge. It means too that patients who treat themselves at home can also access safer and more effective drugs.
We’re now continuing our evaluation and development of new dry forms, with positive results. With LaminarPace we can apply for patents for new forms of preparation, so broadening our existing patent on the basic LaminarPace methodology, which is the backbone of Ziccum. Based on these positive results, in January 2019 we submitted a patent application on a very important component in the development of new vaccines - Adenovirus. Our study results confirmed our assessment that we have an important offering for the industry and the market—one that can solve problems no one else has so far been able to solve, giving Ziccum a positive position in a large and growing market.
We have previously been awarded the Phase 1 grant in Horizon 2020 - the most ambitious and comprehensive funding program for research and innovation in EU history. During this quarter we started our Phase 2 application, aiming, as previously communicated, to submit it in early Q2 2019. We have also begun discussions with a number of vaccine companies and academic groups who have shown interest in Ziccum's technology and which we consider could be of great interest when it comes to the commercialization of our offering.
To sum up, we have a competitive offer in a huge and extremely interesting market, a market where Ziccum can deliver significant benefits to patients, and create value for our shareholders.
Göran Conradson, CEO
NB: This is a partial translation of the Swedish interim report. If any discrepancies exist, the Swedish version shall prevail.
TO READ THE FULL REPORT IN PDF PLEASE GO HERE.
For more information about Ziccum, please contact:
Göran Conradson: CEO Ziccum AB
Mob: +46 709 61 55 99
Ziccum AB (publ) develops new patented formulations of biological drugs where sensitivity to temperature differences, especially during transportation, currently limits medical and so commercial potential. The company’s patented technology, LaminarPace, develops dry powder formulations of drugs and vaccines that currently only exist in liquid form. By doing so Ziccum can increase the availability of drugs and vaccines in existing markets—and open up new ones.
The information above was provided by Ziccum AB (publ) through the above contact person, for publication on February 21, 0900, 2019.