The last few months have been very intense. We have launched our updated growth strategy focusing on the US and German markets, as well as working hard on our new share issue.  The share issue, which was completed about a week ago, has provided the Company with approximately MSEK 65 after transaction costs, providing leeway and the capital needed to realize our updated strategy. Going into 2018 it feels good to have accomplished this.

Moving forward we will of course focus a lot on the US market. We have started to implement our US strategy, which I’ve described earlier (http://investors.scibase.se/en/scibase-unveils-growth-strategy-including-plans-for-us-launch-of-nevisense ), and we already see positive signs that the strategy is the right one. For example, we have sold and installed a Nevisense at a prestigious dermatology clinic, Goldenburg Dermatology in Manhattan, New York and they have already completed their first patient measurements. Furthermore, a new key opinion leader Dr Rigel also has a device installed for use with patients.

Even if these are relatively minor events given the size of the US market, we view them as important steps. It is central for our continued US development to evaluate and adapt based on the results of our first direct experiences in the US market. The next major event is our participation in the AAD meeting. This is the US’s largest (if not the world’s largest) meeting within dermatology. It takes place in San Diego at the end of February and gives us a great opportunity to meet with influential dermatologists and increase the knowledge of Nevisense and the EIS-method in the US. An important part of our US strategy is also that we now are able to intensify our reimbursement work, i.e. start the work on the key questions and activities that will enable us to receive insurance company reimbursement for the use of Nevisense.

The German market continues to be important and we were recently able to communicate the first order within the framework of the DermoScan agreement. As we previously stated, we now have a good initial installed base of users and can now move our focus onto the main market of dermatologists, including the 400 customers of DermoScan.  

Another exciting market is Italy, to where we now have delivered a number of Nevisense devices. In January we will perform training on Nevisense and on our method. What makes this agreement so interesting is that we now are entering a completely new market segment where Nevisense will be used by non-specialists and at pharmacies.  We see this as a project with a significant potential which, if successful, can be rolled out in other markets.

Regarding new clinical applications such as eczema and non-melanoma skin cancer, we have some initial interesting data and results from the use of the research application.  We will continue to work with this through spring of next year.  

As we now go into some much needed Christmas holiday we see that 2018, just as 2017, will be an intense year and we know we will have many exciting opportunities ahead of us!   

From all of us at SciBase, we wish you all a Merry Christmas and a Happy New Year!

Simon Grant

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

About SciBase and Nevisense
SciBase AB is a Swedish medical technology company, headquartered in Stockholm that has developed a unique point-of-care device for the accurate detection of malignant melanoma. Its product, Nevisense, helps doctors to detect malignant melanoma, the most dangerous type of skin cancer. 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 now also a FDA clearance 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. SciBase is listed on Nasdaq First North (“SCIB”). Avanza is the certified advisor. Further information is available on www.scibase.com.  

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Shares subscribed for without subscription rights have been allocated in accordance with the principles stated in the prospectus prepared in connection with the Offering and published on 20 November, 2017. Notice of the allocation of shares subscribed for without subscription rights will be sent out shortly to those who have been allocated shares.

In total, the Offering will provide SciBase with approximately SEK 65 million after deduction of transaction costs. The number of shares will increase from 8,284,768 to 16,618,101 shares when the new shares have been registered with the Swedish Companies Registration Office. When such registration has been made, paid subscribed shares (Sw. betalda tecknade aktier) will be converted into common shares. The preliminary record date for such conversion is 28 December 2017 whereby the paid subscribed shares will be converted into new shares on or about 2 January 2018. Trading in the new shares on Nasdaq First North is expected to start on the same day.

SciBase’s CEO Simon Grant comments:

We are very pleased to finalise the rights issue and move forward with full focus on building the business. As outlined in our strategic plan, there are a number of exciting possibilities ahead for SciBase. Securing this financing will enable us to better address those opportunities, and the team heads into next year full of energy and focused on driving sales growth.

Financial and legal advisers

Pareto Securities AB is financial adviser to SciBase and Setterwalls Advokatbyrå AB is legal adviser to SciBase and Pareto Securities AB in conjunction with the Offering. Avanza Bank is the Company’s certified adviser.

For further information, please contact:

Simon Grant, CEO
Phone: +46 72 887 43 99, e-mail: simon.grant@scibase.com  

Michael Colérus, CFO

Phone: +46 70 341 34 72, e-mail: michael.colerus@scibase.com   

This information is information that SciBase Holding AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 21:00 CET on 13 December, 2017.

About SciBase

SciBase AB is a Swedish medical technology company, headquartered in Stockholm that has developed a unique point-of-care device for the accurate detection of malignant melanoma. Its product, Nevisense, helps doctors to detect malignant melanoma, the most dangerous type of skin cancer. 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 now also a FDA clearance 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.

SciBase is listed on Nasdaq First North (“SCIB”). Further information about the Company is available at www.scibase.com. 

IMPORTANT INFORMATION

This press release is not an offer or solicitation to acquire shares in SciBase. A prospectus relating to the preferential rights issue referred to in this press release have been drawn up and filed with the Swedish Financial Supervisory Authority.

This press release does not constitute or form part of an offer or solicitation to purchase or subscribe for securities in the United States. The securities referred to herein may not be sold in the United States absent registration or an exemption from registration under the US Securities Act of 1933, as amended. SciBase does not intend to register any portion of the offering of the securities in the United States or to conduct a public offering of the securities in the United States. The information in this press release may not be announced, published or distributed, directly or indirectly, to the United States, Canada, Australia, New Zealand, Singapore, South Africa, Japan or Hong Kong or in any other jurisdiction where the announcement, publication or distribution of the information would not comply with applicable laws and regulations. 

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Earlier this year SciBase and DermoScan signed an agreement to integrate and share patient clinical information and results from Nevisense with DermoScan’s dermoscopy system DermoGenius Ultra. DermoScan is the first digital dermoscopy company to include EIS as a standard parameter. DermoGenius Ultra is today used by over 400 clinics in Germany. 

- Integration between all the systems I use is very important for us in our clinic and so the integration between Nevisense and DermoGenius Ultra was essential. Integration enables us to include Nevisense as a natural part of our workflow.  We are very pleased to be able to offer our patients the integrated solution, says Dr. Thomas and Dr. Ameli Weber at the clinic Hautarzt Weber in Munich. 

Nevisense will be a valuable add-on to the visual assessment provided by DermoScan’s digital dermoscopy system. It will be easier to include Nevisense and the EIS-measurement into the clinic’s workflow, which will improve clinic efficiency.  The integration also makes it possible, through DermoGenius, to connect Nevisense with almost all of EMR (Electronic medical record) systems available in Germany.

- We have been in discussion with this clinic over a period of time and what was decisive was the integration of Nevisense with DermoGenius Ultra, which they already use. We see this first order as a signal that we now have the possibility to reach a new customer group - which is a part of our more ambitious growth strategy, says Simon Grant CEO of SciBase.  

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

About SciBase and Nevisense
SciBase AB is a Swedish medical technology company, headquartered in Stockholm that has developed a unique point-of-care device for the accurate detection of malignant melanoma. Its product, Nevisense, helps doctors to detect malignant melanoma, the most dangerous type of skin cancer. 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 now also a FDA clearance 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. SciBase is listed on Nasdaq First North (“SCIB”). Avanza is the certified advisor. Further information is available on www.scibase.com 

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