Bifogade filer
Q4 2024 Report - Lifecare ASA
Prenumeration
Beskrivning
| Land | Norge |
|---|---|
| Lista | OB Match |
| Sektor | Hälsovård |
| Industri | Medicinteknik |
Bergen, Norway, 20 February 2025: Today, Lifecare ASA (LIFE) (the “Company”), a clinical stage medical sensor company developing the next generation Continuous Glucose Monitor (CGM), publishes its Q4 2024 financial report and operational update.
Highlights:
- Lifecare ASA listed on Euronext Oslo Børs
- First implant in longevity study confirms durability and biocompatibility
- Optimizing implant design for manufacturability
- New sensor chemistry boosts glucose sensitivity fivefold, promising improved accuracy and performance pending in-vivo validation
- Product Development Agreement with Sanofi supports sensor miniaturization
After thorough preparations, Lifecare ASA had the honor of ringing the stock exchange bell and opening the trading day as a listed company on Euronext Oslo Børs on 22 October 2024. On this solemn occasion, we gathered employees, the Board of Directors and valued partners to celebrate being one of the few medical technology companies operating and listed in Norway. The listing on Euronext Oslo Børs marks an important step for the company in the progress towards commercialization of our product, particularly in light of upcoming clinical studies aimed at improving the lives of diabetes patients. This step brings the company closer to profitability and delivering return for our valued shareholders.
- The basic science has now been completed and the ongoing work to realize products is about engineering. To reach this phase, we have built an organization that mainly consists of highly skilled scientists. To take the product development onwards to the final phase of product development, we have engaged TTP plc (“The Technology Partnership”), says Holter.
In this collaboration, the company gains access to world-leading expertise in product development of medical implants and sensors. Assisted by TTP, Lifecare has accelerated improved versions of our Minimal Viable Product, as used in our ongoing long-term studies, into further stable product prototypes designed for manufacturing.
On this basis, the company has made great progress focusing on optimizing product and production tolerances. While Lifecare’s core competence of development through scientific research remains in the forefront of our work, our collaboration facilitates a holistic review of component adjustments for an improved implant designed for manufacturing. This improved implant will be ready for validation in Q1 2025, ensuring an enhanced basis for our longevity study and upcoming clinical studies.
A recent example of Lifecare’s R&D capacities was demonstrated in January 2025 when we announced a potential significant improvement in glucose sensor sensitivity, based on a new generation of Lifecare’s proprietary chemistry. The new chemistry is expected to improve both performance and production, with the potential to deliver increased accuracy and reduced complexity for users.
- Our current product development and design for manufacturability trigger a somewhat higher cost level than planned. However, these investments reflect our commitment to ensuring a high-quality, market-ready product, and will position us to initiate human trials in 2025, as well as the expected market approach in the veterinary market. To sustain our progress and successfully bring our innovations to market, we look forward to continued support from our investors in the planned and upcoming exercise period 2-13 June 2025 for warrants issued as part of our oversubscribed capital increase in June 2024. Investor commitment remains crucial in helping us navigate the final steps toward market entry and long-term success, imperative steps towards company profitability and return of investments, says CEO Joacim Holter.