13 February 2023

Vator Securities advises SciBase on 80 MSEK Rights Issue

Comment from CEO Simon Grant

“SciBase’s 53 percent sales growth during 2022 illustrates the exciting phase the Company is in. As well as our core business growth we see exciting growth opportunities within our new applications, as evidenced by the recent J&J partnership within skin barrier.

This Rights Issue enables us to continue expansion in our key markets Germany and especially the US, and to accelerate development of our new applications. We would like to thank both existing shareholders and new investors for their trust in our operations and continued growth journey.”

Press release

About SciBase

SciBase Holding is a MedTech company that develops point-of-care instruments for non-invasive detection of atopic dermatitis (eczema), skin cancer and other skin diseases. The products are based on the company’s technology platform that combines artificial intelligence (AI) with Electrical Impedance Spectroscopy (EIS), a technology based on more than 20 years of research at the Karolinska Institute. SciBase’s products include Nevisense and Nevisense Go and currently the platform is addressing detection of atopic dermatitis (eczema), melanoma and non-melanoma skin cancer. Nevisense is the only product that is approved by the Food and Drug Administration (FDA) for detection of melanoma and is the only instrument in Europe with a Medical Device Regulation (MDR) approval for detection of skin cancer.

The case

  • SciBase signed a partnership with Johnson & Johnson in November 2022, the world’s largest and most broadly-based healthcare company, validating SciBase’s AI and Electrical Impedance Spectroscopy (EIS) point of care technology platform within skin barrier.
  • The partnership with Johnson & Johnson establishes SciBase’s position within one of three skin barrier segments initially targeted, positioning the company for rapid sales growth and setting the stage for additional industry partnerships.
  • The partnership validates both the potential to address broad unmet patient needs and the commercial opportunity of SciBase’s technology within skin barrier. The expansion into skin barrier increases the company’s addressable market by approximately SEK 6 – 7 billion.
  • Within melanoma, SciBase’s has continued executing on the commercial strategy of targeting practice groups, focusing on the expansion of reimbursement coverage across the US. Key partners ADCS and AdvDermPC have 150+ and 50+ practices across the US respectively, representing a potential market size of approximately SEK 120 million annually.
  • Continued rapid sales growth, 53% sales growth in 2022 compared to 2021, driven by continuously increasing sales in Germany and the US. In the fourth quarter of 2022 sales grew by 67% in Germany and sales within the skin barrier segment increased by 135%, compared to the same period in 2021.

SciBases’ website