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Biotech-IgG Equity has faced an intense first six months where the main focus have been on establishing new T2Dx instruments in Sweden, Denmark and Norway, as well with our partner T2 Biosystem in the US. Although the Covid-19 pandemic has caused a great impact on our environment, we are pleased to announce that we have had a very positive increase on all divisions, although mainly in blood analysis, says Glenn Renhult, Chairman of the Board at Biotech-IgG Equity.
Biotech-IgG Equity AB:s establishment on T2 Biosystems blood analysis instrument
Due to this day, Biotech has five T2Dx instruments at hospitals in Sweden and Denmark and we are currently working on establishing instruments in Norway. T2 Biosystems is already represented in other parts of Europe and in a general comparison regarding establishments, Biotech has reached a rapid progress. In countries such as Spain, Italy, Germany and Eastern Europe the establishment started 1-2 years ahead of Biotechs time and we are following the same evolution but in a faster pace. This indicates that we have a bright future ahead. Furthermore, our successful partnerships with hospitals such as Sahlgrenska, Akademiska and Karolinska brings Biotech additional stability and potential growth.
Due to the fact that Karolinska is collaborating with T2, the partnership have been noticed by other hospitals in other parts of Europe. Today Karolinska is one of Biotechs ambassadors welcoming other hospitals to take part of their T2 results through physical visitation and exchange of information.
However, there have arisen delays to some extent in which we have not been able to affect such as our process with ethical committees, the pace in which tests are being implemented and Covid-19, as blood samples are collected from patients with feared sepsis mainly from the intensive care units. Since March, the intensive care units have completely been concentrating on managing the pandemic with the result of blood tests to laboratorium and T2 studies have decreased.
Our ambassadors that is working with T2 on hospitals have strived for the intensive care units to applicate the T2 instrument on Covid-19 patients as it has been shown that most intensive care patients in respirators have been shown to develop sepsis, which can be detected with the T2Bacteria panel. However, such change and new care interventions require decisions as well as approval regarding new work routines, for example as how to act on the result, for which there is currently no capacity. The topic have been discussed and there is a major possibility that these kind of routines will be applied in the healthcare system when the current situation have reached back to its usual condition.
As a result of the delays mentioned above, Karolinska and Sahlgrenska estimates that the on going study will be completed this fall. Although, they have beforehand presented positive results from their study on various seminars and other channels. Rigs Hospitalet in Copenhagen and Örebro Universitetssjukhus in Sweden are currently clients of T2 and Akademiska Sjukhuset in Sweden, is part of a major research with T2. Further, an instrument will be installed at Skånes Universitetssjukhus in Lund after summer. Lund proceeds blood analysis for catchment-area Skåne and will therefore be an important strategic partner in Southern Sweden. Additionally, Lund will be a geographical cornerstone for Biotechs strategic establishment in Sweden. All in all, Biotech will be able to complete step 1 during the current year, which has involved extensive work in introducing T2 to the market with completed studies for strategic partners where the instruments will gradually become routine with commercial partners, which will increase both the company’s revenues and operating profit, says Glenn Renhult, Chairman of the Board at Biotech-IgG Equity.
Update on the company’s re-listing process or implementation of a B2B sale
During a longer period of time, the Board has investigated the possibility of re-listing the company’s stock share on a appropriate trading site in Sweden or Norway. Unfortunately, there have not been any success in that area. The company has once again been faced with new challenges, of which the Covid-19 pandemic has been one of the most recent, which has delayed the process due to financial changes and the instability that prevails in today’s stock market climate.
Against this backgrund, the Board has now also begun to evaluate a B2B sale of the company’s underlying operations in order to be able to realize the company’s assets for cash equivalents, which can be distributed to the company’s shareholders. The company’s main owner Capital Conquest has historically carried out a number of B2B sales with very good results and therefore the company has now decided to hire them to evaluate whether a possible B2B sale can be a successful alternative instead of a share listing in order to create value for the company’s existing shareholders. More information on this issue will be published as soon as any additional information is available, says Glenn Renhult, Chairman of the Board of Biotech-IgG Equity AB.
Briefly about Biotech-IgG Equity AB (publ)
Biotech-IgG Equity AB (publ) is a public investment company focusing on the Biotech sector and primarily conducts trade and distribution of hospital products in Sweden, Norway, Denmark, Finland, Iceland and Åland. The company has approximately 3,000 shareholders and the main owner today is the investment company Capital Conquest AB (publ). For more information regarding Biotech-IgGs operations can be read on our website, http://www.biotech-igg.com or www.biotech-equity.se