Uncategorized - SciBase

Pia will join SciBase as CEO on October 1^st, 2023. As previously announced on May 15^th, Simon Grant resigned from his position as CEO for personal reasons and will remain with the Company until the end of October to fully support the transition.

Pia is an exceptionally well-suited candidate to implement SciBase's strategy in order to reach the company's full potential. The board is convinced that she will help in creating shareholder value.

Tord Lendau, Chairman of the Board at SciBase commented:" I am very pleased to welcome Pia Renaudin as our new CEO. She has an extensive track record of developing and growing businesses and a broad international experience. She has built up businesses from scratch to multi-million SEK sales in the United States, a key component of our growth strategy. We believe that Pia is the right CEO to execute our strategy and to bring SciBase to the next level." Furthermore, he added: "I would also like to take the opportunity and thank Simon Grant for his long-term dedication and for an excellent job done in positioning SciBase with the products and indications that will now take the company to the next phase. On behalf of the Board, we wish him personally all the best for his future endeavors."

Pia Renaudin comments her appointment, "I am thrilled to be joining SciBase at this transformative stage, following the positive reimbursement news. I am looking forward to lead and expand SciBase to become a successful commercial entity for the benefit of patients and all other stakeholders in my new role as CEO. I am convinced we have a very exciting future with great growth potential ahead of us".

Pia Renaudin has extensive experience in the global Life Science and MedTech industries. She has spend over 20 year in leading positions in companies such as Senzime AB, Gilead Sciences, Stryker and AstraZeneca. Pia joins SciBase from Senzime AB, a Swedish MedTech Company listed on Nasdaq Stockholm main market, where she held the position of CEO from 2019 to 2023. During her tenure she significantly grew the sales, for instance in Q1-23 sales in Senzime grew by 161% with the US constituting the majority of the sales and growing by 215%.

SciBase has made significant progress both in the US and EU (MDR) by navigating the challenging regulatory processes and market environments in these territories. In addition, it has reached profitability in Germany (proof-of-business) through growing sales mainly of test volumes. SciBase has also recently made significant progress with Medicare reimbursement and market penetration in the US and Nevisense remains the only point-of-care melanoma detection product available in the US. The foundation for further growth both in the US and globally has been laid.

This information is information that SciBase Holding AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out below, at 16.30 CET on August 29, 2023.

For further information visit www.scibase.com or contact:

Tord Lendau, Chairman of the Board

Tel: +46 70 810 01 67

E-post: info@scibase.com

Certified Advisor (CA):

Vator Securities

Tel: +46 8 580 065 99

Email: ca@vatorsec.se

About SciBase and Nevisense
SciBase is a global medical technology company headquartered in Stockholm, Sweden, that has developed a unique point of care platform for the non-invasive detection of skin cancer and other skin conditions. SciBase is a pioneer within augmented intelligence, combining artificial intelligence with Electrical Impedance Spectroscopy (EIS) to provide objective information that assists dermatologists and others in clinical decision-making. SciBase's products include Nevisense and Nevisense Go and to date the platform addresses the areas of melanoma detection, non-melanoma skin cancer detection and skin barrier assessment. Nevisense is the only FDA-approved device for the detection of melanoma and the only MDR-approved technology for skin cancer detection in Europe. SciBase's technology is based on more than 20 years of academic research at the Karolinska Institute in Stockholm, Sweden. For more information please visit www.scibase.com. All press-releases and financial reports can be found here : http://investors.scibase.se/en/pressreleases

SciBase has, under Simons leadership, built a foundation for growth by developing two dermatology products with great potential. Many important advancements have been made within the research, development, quality, regulatory, initial sales, and the reimbursement sides of the business. I believe we now have a solid foundation to stand on and, as Simon will remain with the company until October, it will give a smooth transition to the next phase of the company's future.

The foremost priorities for SciBase are to focus on further improving US reimbursement of our products, to cover a larger population and geographical part of the US, improving sales and usage of the sold products in both the US and in Germany, as well as continue lowering the production cost in our products to enable future sales outside of these territories.

We clearly have a chance to become the standard of care in dermatology. To achieve this, we will have to focus heavily on sales! The new CEO we recruit must have an excellent history and experience level with sales, understand how reimbursement works in the US, and be able to grow the company faster from where we now stand. The work to recruit a new CEO is ongoing even though we are approaching summer.

We have achieved a lot lately and by far the most important event this year has been the decision by two Medicare Administrative Contractors (MACs) to grant an increased fee schedule amount for the Nevisense test in the US.

This is a major step for the company for several reasons:

Firstly, it means that the Nevisense test can now be reimbursed for Medicare patients in Florida, Texas, Colorado, Louisiana, Arkansas, Mississippi, New Mexico, Oklahoma, New Jersey, District of Columbia, Delaware, Pennsylvania, Maryland, and parts of Virginia. In total that means approximately 11M seniors out of 37M in the whole US in all areas will have access to the test, paid by Medicare.

We see this as a very important, positive decision for SciBase. Of course, it is also important for patients, given that seniors are the patient demographic with the highest rates of skin cancer.

Secondly, this decision will help us in our efforts to secure coverage in other Medicare regions and with private insurers. Establishing a Medicare fee schedule in the western US is our next focus region. Additionally, we have been working for about a year with four large national private payers to secure coverage and payment. The Medicare decision will help us with those and other, expanded coverage efforts.

Finally, the decision means that it now makes sense for SciBase to increase efforts to sale more aggressively in the US. We are in the process of employing further field staff to cover existing and new areas.

US sales are the clear focus for SciBase in the coming quarters, though it may take a quarter or two to see a significant impact on sales as the new employees come on-line. If everything works out well, we can expect exponential, rather than linear sales growth i.e., lower growth in the beginning and exponentially better as reimbursement coverage improves.

As you might know our strategy is to cooperate with large practice groups, and we recently announced the third large group to implement Nevisense - The Schweiger Dermatology Group, based in the North-East US. Schweiger has started by installing systems with two clinics in New Jersey. There are advanced discussions underway with an additional group. As we secure broader insurance coverage, it will become easier to get these practice groups up and running. Now more than 10% of the target population have paid access to our test, and we expect real sales growth as we approach 50%.

Germany

Germany is now our proof of business and goes from strength to strength. We continue to see very good levels of organic growth in electrode usage rates, new system sales and sales overall. We are selling about twice as many new systems compared to last year, which in turn will drive future electrode sales. We are approaching 400 systems installed and are there are nearly 1,000 Nevisense tests performed each week. A reasonable reimbursement level and our expanded indication (Non-Melanoma Skin Cancer) are key drivers for the growth. This again illustrates the importance of reimbursement in driving sales, and we know from our experience in Germany that as we secure coverage in the US, sales will come.

Skin Barrier Function

We will get back to you on this after the summer, but it is developing swiftly and in the right direction.

So, I would like to end by saying that we now have 1. Proof of Principle, i.e., the product/ technology works. We also have 2. Proof of Business, i.e., customers like the product, re-order and Germany is now profitable and cash positive.

Next step is to show we have 3. Proof of Scalability i.e., we can grow sales rapidly with lower cost of goods with a particular focus on the US.

Happy summer

Tord Lendau

Chairman SciBase

For further information visit www.SciBase.com or contact:

Tord Lendau, Chairman of the Board

Tel: +46 70 810 01 67

E-post: info@SciBase.com

Certified Advisor (CA):

Vator Securities

Tel: +46 8 580 065 99

Email: ca@vatorsec.se

About SciBase and Nevisense
SciBase is a global medical technology company headquartered in Stockholm, Sweden, that has developed a unique point of care platform for the non-invasive detection of skin cancer and other skin conditions. SciBase is a pioneer within augmented intelligence, combining artificial intelligence with Electrical Impedance Spectroscopy (EIS) to provide objective information that assists dermatologists and others in clinical decision-making. SciBase's products include Nevisense and Nevisense Go and to date the platform addresses the areas of melanoma detection, non-melanoma skin cancer detection and skin barrier assessment. Nevisense is the only FDA-approved device for the detection of melanoma and the only MDR-approved technology for skin cancer detection in Europe. SciBase's technology is based on more than 20 years of academic research at the Karolinska Institute in Stockholm, Sweden. For more information please visit www.SciBase.com. All press-releases and financial reports can be found here : http://investors.SciBase.se/en/pressreleases

The Board has initiated the process to recruit a new CEO and will provide an update in due course. Tord Lendau, chairman of the board of SciBase, will take over certain operational parts of the role of CEO during the transition period as Simon Grant will gradually reduce his involvement. As chairman of the board, Tord is responsible for driving the process of finding a new CEO and will work to ensure a smooth transition.

"We thank Simon for his efforts as Managing Director at SciBase. During his nine years as CEO, SciBase has transitioned from being a research-oriented company to a commercial stage company with products approved and marketed in the US, Europe and Australia. Obtaining the PMA for Nevisense in the US in 2017 and being able to subsequently secure Medicare reimbursement earlier this year, was the culmination of Simon's efforts to bring the company's technologies to the market and to the benefit of patients worldwide. We wish Simon all the best in his future endeavors and it is positive that he will remain available to assist the board even after ending his role as CEO. I will step into an operational role and support the CEO to manage the transition as smoothly as possible. While it is disappointing to see Simon leave, we can also see this as an opportunity to optimize the organization as we leverage our platform to further accelerate our growth, especially in the US", says Tord Lendau Chairman of the Board at SciBase.

The Company has made significant progress in navigating challenging regulatory processes and market environments and has reached profitability in Germany through growing sales of Nevisense and electrodes. SciBase has also recently made significant progress with Medicare reimbursement and market penetration in the US and Nevisense remains the only melanoma detection product available in the US. The foundation for further growth has been laid.

For further information visit www.scibase.com or contact:

Tord Lendau, Chairman of the Board

Tel: +46 70 810 01 67

E-post: info@scibase.com

Certified Advisor (CA):

Vator Securities

Tel: +46 8 580 065 99

Email: ca@vatorsec.se

The Board has initiated the process to recruit a new CEO and will provide an update in due course. Tord Lendau, Chairman of the Board of Directors of SciBase, will assume the role of CEO in the interim to ensure a smooth transition.

"We thank Simon for his efforts as Managing Director at SciBase. During his nine years as CEO, SciBase has transitioned from being a research-oriented company to a commercial stage company with products approved and marketed in the US, Europe and Australia. Obtaining the PMA for Nevisense in the US in 2017 and being able to subsequently secure Medicare reimbursement earlier this year, was the culmination of Simon's efforts to bring the company's technologies to the market and to the benefit of patients worldwide. We wish Simon all the best in his future endeavors and it is positive that he will remain available to assist the board even after ending his role as CEO. I will be stepping in as interim CEO to manage the transition. While it is disappointing to see Simon leave, we can also see this as an opportunity to optimize the organization as we leverage our platform to further accelerate our growth, especially in the US", says Tord Lendau Chairman of the Board at SciBase.

For further information visit www.scibase.com or contact:

Tord Lendau, Chairman of the Board

Tel: +46 70 810 01 67

E-post: info@scibase.com

Certified Advisor (CA):

Vator Securities

Tel: +46 8 580 065 99

Email: ca@vatorsec.se

The first quarter in figures

Net sales were TSEK 5,149 (4,260), +21%.
The loss after tax was TSEK 10,906 (9,736).
The loss per share was SEK 0.15 (0.14).
The cash flow from current operations was negative in the amount of TSEK 3,751 (10,512).
The gross margin was 68.7% (62.8%).
Electrode sales volume increased by 16% and were 11,614 (9,982) units. Repeat sales of electrodes to existing customers increased by 11%.

Important events during the quarter

Overall sales increased by 21% (+13%, before currency effects). Sales in the US skin cancer market were 54% lower than Q1 2022 as Q1-22 included initial Nevisense system sales to US partners. Sales in Germany increased by 35% (26% in local currency). Sales within the skin barrier segment increased by 196%.
After the end of the year the board of directors of SciBase Holding AB (publ), by virtue of the authorization from the annual general meeting on 18 May 2022, resolved to carry out a fully guaranteed issue of new shares with preferential rights for existing shareholders of approximately SEK 79.6 million before transaction costs. The board of directors assesses that, based on the current strategic plan, the capital injection is sufficient for at least the next 12-month period. The subscription price is SEK 1.55 per new share. The share capital increased by SEK 2,567,816.5 through the issue of 51,356,330 new shares. SciBase received the issue proceeds after the end of the quarter and after issue costs SciBase received approximately SEK 70 million.

SciBase has entered into a collaboration agreement with Schweiger Dermatology group (SDG) to pilot Nevisense in two New Jersey practices. Schweiger Dermatology Group is the largest dermatology practice group in the Northeastern US, with over 90 offices and more than 300 healthcare providers throughout New York, New Jersey, Pennsylvania and Connecticut.

Important events after the end of the period

Two Medicare Administrative Contractors (MACs): First Coast Service Options (First Coast) and Novitas Solutions (Novitas) released updated fee schedules for SciBase’s early detection test for melanoma (0658T). First Coast covers the state of Florida and Novitas covers the central and mid-Atlantic US and together they cover about one-third of the US Medicare population. The updated fee schedules, which now have been increased to levels seen as more appropriate by clinicians, are valid retroactively from January 1^st.

The summons for the AGM 2023 was published.

The annual report for 2022 was published.

Financial overview

			Apr 1, 2022 -
	Jan 1 - Mar 31		Mar 31, 2023	Jan 1 - Dec 31
THE GROUP	2023	2022	Rolling-12	2022
Net sales, SEK ths	5 149	4 260	18 778	17 890
Gross margin, %	68,7%	62,8%	64,4%	62,8%
Equity/Asset ratio, %	77,9%	79,3%	78,4%	50,6%
Net indebtness, multiple	0,28	0,26	0,27	0,98
Cash equivalents, SEK ths	14 394	54 621	14 394	18 832
Cashflow from operating activities, SEK ths	-3 751	-10 512	-37 705	-44 466
Earnings per share (before and after dilution), SEK	-0,15	-0,14	-0,64	-0,63
Shareholder's equity per share, SEK	1,19	0,88	1,05	0,37
Average number of shares, 000'	72 426	68 475	69 463	68 475
Number of shares at closing of period, 000'*	119 831	68 475	119 831	68 475
Share price at end of period, SEK	1,80	4,70	1,80	3,82
Number of sold electrodes, pieces	11 614	9 982	43 344	41 712
Average number of employees	21	18	20	20
*Including BTA from ongoing new share issue

This information is information that SciBase Holding AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was originally submitted for publication, through the agency of the contact person set out below, at 08.00 CET on May 10, 2023.

This year-end report has not been subject to review by the Company’s auditors

Contact person:

Michael Colérus, CFO, +46 70 341 34 72

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

Certified Advisor (CA):.

Vator Securities

Tel: +46 8 580 065 99

Email: ca@vatorsec.se

About SciBase and Nevisense
SciBase is a global medical technology company headquartered in Stockholm, Sweden, that has developed a unique point of care platform for the non-invasive detection of skin cancer and other skin conditions. SciBase is a pioneer within augmented intelligence, combining artificial intelligence with Electrical Impedance Spectroscopy (EIS) to provide objective information that assists dermatologists and others in clinical decision-making. SciBase’s products include Nevisense and Nevisense Go and to date the platform addresses the areas of melanoma detection, non-melanoma skin cancer detection and skin barrier assessment. Nevisense is the only FDA-approved device for the detection of melanoma and the only MDR-approved technology for skin cancer detection in Europe. SciBase’s technology is based on more than 20 years of academic research at the Karolinska Institute in Stockholm, Sweden. For more information please visit www.scibase.com. All press-releases and financial reports can be found here : http://investors.scibase.se/en/pressreleases

A pdf-version of the annual report is enclosed to this press-release.

A printed version of the Annual report will only be distributed to shareholders who actively request a printed copy.

For more information, please contact:

Michael Colérus, CFO
Tel: +46 70 341 34 72

E-mail: michael.colerus@scibase.com

Certified Advisor:

Vator Securities

Tel: +46 580 065 99

Email: ca@vatorsec.se

The information was submitted for publication, through the agency of the contact person set out above, at 10.00 CET on April 21, 2023.

About SciBase and Nevisense
SciBase is a global medical technology company headquartered in Stockholm, Sweden, that has developed a unique point of care platform for the non-invasive detection of skin cancer and other skin conditions. SciBase is a pioneer within augmented intelligence, combining artificial intelligence with Electrical Impedance Spectroscopy (EIS) to provide objective information that assists dermatologists and others in clinical decision-making. SciBase's products include Nevisense and Nevisense Go and to date the platform addresses the areas of melanoma detection, non-melanoma skin cancer detection and skin barrier assessment. Nevisense is the only FDA-approved device for the detection of melanoma and the only MDR-approved technology for skin cancer detection in Europe. SciBase's technology is based on more than 20 years of academic research at the Karolinska Institute in Stockholm, Sweden. For more information please visit www.scibase.com. All press-releases and financial reports can be found here : http://investors.scibase.se/en/pressreleases.

"We are very pleased with the new fee schedules and more importantly, the levels will be seen as appropriate by clinicians to support the expanded use of the Nevisense test for early melanoma detection at point of care. For SciBase this is a critical decision that paves the way for further US expansion - both within the two covered regions, but also into MACs that cover other parts of the US.

We are happy to know clinicians have found Nevisense clinically valuable and useful in the management of patients. For Medicare it can also result in savings due to earlier and more accurate melanoma detection. This has been a challenging process that has taken longer than anticipated and I applaud the patience of our users. The decisions mean that Medicare patients in these regions will now have better access to the latest technology and improved accuracy when their atypical lesions are being evaluated for suspicion of melanoma," said Simon Grant, Chief Executive Officer of SciBase.

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

Certified Advisor (CA):.

Vator Securities

Tel: +46 8 580 065 99

Email: ca@vatorsec.se

About SciBase and Nevisense
SciBase is a global medical technology company headquartered in Stockholm, Sweden, that has developed a unique point of care platform for the non-invasive detection of skin cancer and other skin conditions. SciBase is a pioneer within augmented intelligence, combining artificial intelligence with Electrical Impedance Spectroscopy (EIS) to provide objective information that assists dermatologists and others in clinical decision-making. SciBase's products include Nevisense and Nevisense Go and to date the platform addresses the areas of melanoma detection, non-melanoma skin cancer detection and skin barrier assessment. Nevisense is the only FDA-approved device for the detection of melanoma and the only MDR-approved technology for skin cancer detection in Europe. SciBase's technology is based on more than 20 years of academic research at the Karolinska Institute in Stockholm, Sweden. For more information please visit www.scibase.com. All press-releases and financial reports can be found here : http://investors.scibase.se/en/pressreleases

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

Certified Advisor (CA):.

Vator Securities

Tel: +46 8 580 065 99

Email: ca@vatorsec.se

About SciBase and Nevisense
SciBase is a global medical technology company headquartered in Stockholm, Sweden, that has developed a unique point of care platform for the non-invasive detection of skin cancer and other skin conditions. SciBase is a pioneer within augmented intelligence, combining artificial intelligence with Electrical Impedance Spectroscopy (EIS) to provide objective information that assists dermatologists and others in clinical decision-making. SciBase's products include Nevisense and Nevisense Go and to date the platform addresses the areas of melanoma detection, non-melanoma skin cancer detection and skin barrier assessment. Nevisense is the only FDA-approved device for the detection of melanoma and the only MDR-approved technology for skin cancer detection in Europe. SciBase's technology is based on more than 20 years of academic research at the Karolinska Institute in Stockholm, Sweden. For more information please visit www.scibase.com. All press-releases and financial reports can be found here : http://investors.scibase.se/en/pressreleases

"We are excited to integrate the Nevisense test during routine skin exams in our Freehold and Verona, New Jersey offices and offer our patients the latest technology for the earliest possible detection of melanoma. Melanoma is the deadliest form of skin cancer, but when detected early, treatment has a nearly 100% cure rate. Early testing and treatment are critical for improving survival rates. Providing our patients with the most advanced technology further supports our commitment to delivering the best care to our patients," said Dr. Jason H. Miller, Medical Director for New Jersey and Long Island for Schweiger Dermatology Group .

"We are very pleased to announce our collaboration with Schweiger Dermatology Group. In addition to the early detection benefits for patients, the partnership means clinicians at Schweiger Dermatology Group's Freehold and Verona, New Jersey offices will have access to state-of-the-art melanoma detection technology. For SciBase, we establish a further partner that helps introduce Nevisense to US payers." said Simon Grant, Chief Executive Officer of SciBase.

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

Certified Advisor (CA):.

Vator Securities

Tel: +46 8 580 065 99

Email: ca@vatorsec.se

About SciBase and Nevisense
SciBase is a global medical technology company headquartered in Stockholm, Sweden, that has developed a unique point of care platform for the non-invasive detection of skin cancer and other skin conditions. SciBase is a pioneer within augmented intelligence, combining artificial intelligence with Electrical Impedance Spectroscopy (EIS) to provide objective information that assists dermatologists and others in clinical decision-making. SciBase's products include Nevisense and Nevisense Go and to date the platform addresses the areas of melanoma detection, non-melanoma skin cancer detection and skin barrier assessment. Nevisense is the only FDA-approved device for the detection of melanoma and the only MDR-approved technology for skin cancer detection in Europe. SciBase's technology is based on more than 20 years of academic research at the Karolinska Institute in Stockholm, Sweden. For more information please visit www.scibase.com. All press-releases and financial reports can be found here : http://investors.scibase.se/en/pressreleases

About Schweiger Dermatology Group

Schweiger Dermatology Group was founded to help make excellent dermatology care accessible throughout the Northeast. In 2010, Dr. Eric Schweiger started the practice with a single location in Manhattan. When he saw the need for high-quality dermatology care that did not require weeks or months of waiting to see a qualified provider, his vision of a multi-location practice was born. Schweiger is now the largest dermatology practice group in the region, with over 90 offices and more than 300 healthcare providers throughout New York, New Jersey, Pennsylvania and Connecticut.

THIS PRESS RELEASE MAY NOT BE MADE PUBLIC, PUBLISHED OR DISTRIBUTED, DIRECTLY OR INDIRECTLY, IN OR INTO AUSTRALIA, BELARUS, CANADA, HONG KONG, JAPAN, NEW ZEALAND, RUSSIA, SWITZERLAND, SINGAPORE, SOUTH AFRICA, THE UNITED STATES OR ANY OTHER JURISDICTION IN WHICH SUCH ACTIONS, WHOLLY OR IN PART, WOULD BE UNLAWFUL. THIS PRESS RELEASE DOES NOT CONSTITUTE AN OFFER TO BUY SECURITIES IN SCIBASE HOLDING AB (PUBL). SEE ALSO THE SECTION "IMPORTANT INFORMATION" BELOW IN THIS DOCUMENT.

"We are very happy with the subscription outcome, especially given the current challenging market environment. It is especially pleasing to see that the major shareholders have increased their ownership level. As a company we are at an interesting phase in our development, with many positive things happening and a busy year ahead of us. This funding will enable us to accelerate our activities, especially when it comes to our US sales and marketing and our barrier development", says Simon Grant CEO of SciBase.

In the Rights Issue, 51,356,330 shares are issued. Allotment of shares subscribed for without support of subscription rights as part of the Rights Issue has been made in accordance with the principles which are included in the prospectus that the Company published on 2 March 2023. Notice of the allotment is provided by means of a contract note, which is distributed to each subscriber. Shares shall be paid for in accordance with the instructions on the contract note. Nominee registered shareholders receive notice of the allotment in accordance with the procedures of the respective nominee. Only those who will receive allotment will be informed.

Following registration of the Rights Issue with the Swedish Companies Registration Office, the Company's share capital will increase by SEK 2,567,816.5 to a total of SEK 5,991,571.85. The number of shares in the Company will increase by 51,356,330 to a total of 119,831,437. This entails a dilution effect of approximately 42.9 percent. Trading in paid subscribed shares (BTAs) takes place on Nasdaq First North Growth Market up to approximately two banking days after the registration of the Rights Issue with the Swedish Companies Registration Office. Registration of the Rights Issue is estimated to take place around week 14 2023. Thereafter, BTA will be converted into shares.

A guarantee commission will be paid for the issue guarantees, of 11 percent of the guaranteed amount in cash consideration, or alternatively 13 percent of the guaranteed amount in the form of newly issued shares in the Company. The subscription price for shares that are issued as guarantee commission will amount to the volume-weighted average price (VWAP) of the Company's share on Nasdaq First North Growth Market during the subscription period for the Rights Issue (i.e. during the period 7 March - 21 March 2023), however not lower than the subscription price in the Rights Issue. Thus, the subscription price for any shares issued as guarantee commission will amount to SEK 1,55 per share. In the event that guarantors choose to receive guarantee commission in the form of newly issued shares, this will be announced by the Company through a separate press release.

Advisors

Vator Securities is the financial advisor and Advokatfirman Schjødt is the legal advisor to SciBase in connection with the Rights Issue.

Important information

Publication, release or distribution of this press release may in certain jurisdictions be subject to legal restrictions and persons in the jurisdictions where this press release has been made public or distributed should be informed of and follow such legal restrictions. The recipient of this press release is responsible for using this press release and the information herein in accordance with applicable rules in each jurisdiction. This press release does not constitute an offer or solicitation to buy or subscribe for any securities in SciBase in any jurisdiction, either from SciBase or from anyone else.

This press release is not a prospectus according to the definition in Regulation (EU) 2017/1129 (the "Prospectus Regulation") and has not been approved by any regulatory authority in any jurisdiction A prospectus regarding the Rights Issue described in this press release has been registered with the Swedish Financial Supervisory Authority on 2 March 2023 and is kept available at, inter alia, SciBase's website.

This press release does not constitute an offer or solicitation to buy or subscribe for securities in the United States. The securities mentioned herein may not be sold in the United States without registration, or without an exemption from registration, under the U.S. Securities Act from 1933 ("Securities Act"), and may not be offered or sold within the United States without being registered, covered by an exemption from, or part of a transaction that is not subject to the registration requirements according to the Securities Act. There is no intention to register any securities mentioned herein in the United States or to issue a public offering of such securities in the United States. The information in this press release may not be released, published, copied, reproduced or distributed, directly or indirectly, wholly or in part, in or to Australia, Belarus, Canada, Hong Kong, Japan, New Zealand, Russia, Switzerland, Singapore, South Africa, the United States or any other jurisdiction where the release, publication or distribution of this information would violate current rules or where such an action is subject to legal restrictions or would require additional registration or other measures beyond those that follow from Swedish law. Actions in contravention of this instruction may constitute a violation of applicable securities legislation.

Forward-looking statements

This press release contains forward-looking statements related to the Company's intentions, estimates or expectations with regard to the Company's future results, financial position, liquidity, development, outlook, estimated growth, strategies and opportunities as well as the markets in which the Company is active. Forward-looking statements are statements that do not refer to historical facts and can be identified by the use of terms such as "believes," "expects," "anticipates," "intends," "estimates," "will," "may," "implies," "should," "could" and, in each case, their negative, or comparable terminology. The forward-looking statements in this press release are based on various assumptions, which in several cases are based on further assumptions. Although the Company believes that the assumptions reflected in these forward-looking statements are reasonable, there is no guarantee that they will occur or that they are correct. Since these assumptions are based on assumptions or estimates and involve risks and uncertainties, actual results or outcomes, for many different reasons, may differ materially from those what is stated in the forward-looking statements. Due to such risks, uncertainties, eventualities and other significant factors, actual events may differ materially from the expectations that expressly or implicitly are contained in this press release through the forward-looking statements. The Company does not guarantee that the assumptions which serve as a basis for the forward-looking statements in this press release are correct, and each reader of the press release should not rely on the forward-looking statements in this press release. The information, opinions and forward-looking statements that expressly or implicitly are stated herein are provided only as of the date of this press release and may change. Neither the Company nor any other party will review, update, confirm or publicly announce any revision of any forward-looking statement to reflect events that occur or circumstances that arise with respect to the contents of this press release, beyond what is required by law or Nasdaq First North Growth Market Rulebook for Issuers of Shares.

For additional information, please contact:

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

Certified Advisor: Vator Securities, telephone: +46 8 580 065 99, e-mail: ca@vatorsec.se

This information was submitted for publication, through the agency of the contact persons set out above, at 8.00 p.m. CET on March 23, 2023.

About SciBase and Nevisense

SciBase is a global medical technology company headquartered in Stockholm, Sweden, that has developed a unique point of care platform for the non-invasive detection of skin cancer and other skin conditions. SciBase is a pioneer within augmented intelligence, combining artificial intelligence with Electrical Impedance Spectroscopy (EIS) to provide objective information that assists dermatologists and others in clinical decision-making. SciBase's products include Nevisense and Nevisense Go and to date the platform addresses the areas of melanoma detection, non-melanoma skin cancer detection and skin barrier assessment. Nevisense is the only FDA-approved device for the detection of melanoma and the only MDR-approved technology for skin cancer detection in Europe. SciBase's technology is based on more than 20 years of academic research at the Karolinska Institute in Stockholm, Sweden. For more information please visit www.scibase.com. All press-releases and financial reports can be found here : http://investors.scibase.se/en/pressreleases.