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Hemcheck's Newsletter - Summer 2022
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The first half of 2022 has been a very eventful period for Hemcheck, with lots of positive news.
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The market environment has been improving significantly after the pandemic restrictions were lifted. It has allowed us to visit customers in person again and e.g. attend industry fairs, which has otherwise been difficult during the last two years. This together with the CE-marking of our products for diagnostic use as well as the CE-marking of the bgs-Test, has improved our position to increase sales, which is our highest priority now and going forward.
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In regard to commercial activities, we have seen an increase in the number of customers at a much higher rate than previously seen which is very positive. Many customers have placed smaller initial orders, but if the products are integrated into regular use we can expect more and larger orders going forward. At the same time, we are expanding our distribution base and have added several new distributors which will add to the potential going forward.
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While pushing forward on the commercial side, we have also been conducting several clinical studies which have proven to give good results. These studies are important to create local evidence and prove the potential of the products in different environments. These will certainly have a positive effect on our potential to increase sales.
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Besides the above, we are also continuing our efforts related to IP and we have during the first half of 2022 gotten our filter patent application approved in Europe, something that strengthens our IP position and increases the value of the company.
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In summary, we have made a lot of progress during the first half of 2022, more than in any other half year period, so we should be really positive about what we have achieved. We also, now in June, finalised the fundraising which has given us 7,5 MSEK before transaction costs. We had hoped for more but given the extremely difficult financial market environment we think this is an acceptable outcome. With these funds in place, we are now planning for the way forward. We will continue our focus to boost sales while being very focused on cost containment. We will also continue our work to explore potential strategic alternatives.
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In this newsletter you can read more about events taking place during June.
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With this, I would like to wish all readers a pleasant summer!
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Annual General Meeting & Extraordinary General Meeting
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The Annual General Meeting was held on June 20. All suggested decisions were approved and the board of Hemcheck will going forward consist of Anna Dalgaard, Hjalmar Didrikson, Karin Dahllöf and Mathias Karlsson. We welcome Mathias Karlsson back to the board.
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The Company also held an Extraordinary General Meeting on June 1 which paved the way for the rights issue conducted later in the month.
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Several evaluation orders received from the European market
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During the month we received several trial/evaluation orders from new customers which is very positive. All refers to hemolysis detection with regards to diagnostic use.
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A first evaluation order from Deutsches Herzzentrum in Berlin, Germany.
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A first evaluation order from the Heim Pál National Pediatric Institute in Budapest, Hungary.
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A first evaluation order from Levi Biotech, an Italian distributor. The order shows the interest that exists in the Italian market, and it is directly linked to user tests that will be performed, in close collaboration with Hemcheck, at several hospitals in Italy.
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A first evaluation order from a medical technology company in France, which focus on technology supported blood sampling.
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Clinical evaluation study completed with very good results at a university hospital in France
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Hemcheck, together with a university hospital in southern France, has successfully completed an evaluation study of Hemcheck’s products (v-Test), at the local clinical laboratory. This study confirms that the tests have high performance and that they have strong correlation with proven reference methods while at the same time confirm the usefulness of the products for e.g. diagnostic use.
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The results are preliminary and will be finalized and then published in a scientific journal, after which more detailed information can be provided.
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New evaluation study opens up for new customers using specific blood sampling system
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Hemcheck, together with the Hospital de la Santa Creu in Sant Pau, has completed an evaluation of the compatibility between the v-Test and the S-Monovette blood sampling system. The results are very good and mean that hospitals that use this system can now also use Hemcheck’s v-Test.
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The sampling system is used sparingly in the Nordic region, but is for example, the most common in the German market and this opens up additional business opportunities for Hemcheck.
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Hemcheck completes capital raising
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Hemcheck completed its capital raising at the end of June, and 7.5 MSEK was raised before transaction costs. The funds will be used mainly to continue current sales efforts.
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