Stockholm, Sweden – iZafe Group AB (publ.) (NASDAQ First North: IZAFE B) – hereby announces that the Municipality of Söderköping is extending the agreement by 12 months and our partner Zafe Care Systems AB.
Söderköping continues its work with digitization of the home care service and has now chosen to continue with the pharmaceutical robot Dosell. The agreement was initially signed in 2018.
Stockholm, Sweden – iZafe Group AB (publ.) (NASDAQ First North: IZAFE B) – releases "Nobody wants to take the wrong medicine" (only available in Swedish) a report on pharmaceutical use and safety in medication. The report was made in connection with the market research at the launch of Dosell Consumer.
Every year, 6.7 million Swedes take prescription medicine, according to the National Board of Health and Welfare. To take wrong medication at the wrong time or completely forgetting the dose is dangerous for a person that takes multiple pharmaceuticals. The risk of taking the wrong medication becomes a stress factor and gives one a feeling of anxiety. The report reads that 31 per cent mention that they need some kind of help with their medication.
“My father, who takes several medicines daily, saw the benefits of Dosell early on for his own part and he feels a great sense of security in minimizing the risk of missing his prescribed dose. As a relative, I feel calm to receive a confirmation every day that my father has not forgotten his medicine. With the knowledge that 3,000 people decease every year in Sweden as a result of incorrect medication, it feels extremely good to know that I as a relative do what I can to ensure that my own father's medication handling is as safe as it is thanks to Dosell.” Says Ida Almgren, CFO of iZafe Group AB.
Wrong medication is a very dangerous problem in society that does not get enough
attention. It costs both life and suffering for the one who suffers and creates great
concern for relatives. An elderly person who has forgotten to take their medicine is often admitted to hospital. A care day costs SEK 15,000. In total, incorrect medication today costs society SEK 20 billion per year.
The attached report shows the results of a survey conducted by the opinion and market research company YouGov on behalf of iZafe Group and Dosell. In 2021, 2063 interviews were conducted with men and women aged 18 and up in Sweden. Data were weighed based on the criteria gender, age and region on the basis of a model from Statistics Sweden.
Stockholm, Sweden – iZafe Group AB (publ.) (NASDAQ First North: IZAFE B) – hereby announces that the first pharmaceutical robots adapted for the Italian consumer market have now been sent to Sempli Farma in Italy for the pilot project.
In October this year, we communicated the upcoming pilot project in Italy. With a certain delay, we can now announce that the pharmaceutical robots have been sent from Sweden and are expected to be delivered to Sempli Farma next week.
All parts such as Dosell, manuals, mobile app, system and brochure are ready and adapted for the Italian market, which means that Sempli Farma has everything to get started.
About Sempli Farma by Remedio S.R.L
The Italian healthcare company Remedio has built a network of strategically selected partners in Italy to find a combination of different aids in drug management and distribution channels that enable the elderly to stay at home longer. Unlike in Sweden, the possibility of receiving medicine on a dose roll has not existed in Italy; this has inspired Remedio to launch the concept of sachets and develop the complete solution Sempli Farma.
Sempli Farma is a service that connects pharmacists with the patient and their relatives via a pharmacy through a closed system for drug dispensing. The care concept aims to reduce care costs and streamline the Italian healthcare system. Dosell becomes the ultimate end component by delivering the dose bags while at the same time the compliance of the medication can be checked and statistics obtained.
Sempli Farma has grown in 2020 and 2021 through a capital raising of
300,000 euros. The organization has been strengthened with a clinical engineer, a sales manager who works to create an external sales network and a marketing and communications department.
Stockholm, Sweden – iZafe Group AB (publ.) (NASDAQ First North: IZAFE B) – hereby announces that Zafe Care Systems is ordering 50 Dosell and is now initiating offensive marketing activities to bring the pharmaceutical robot to market.
“We are pleased that our extensive testing of the new Dosell pharmaceutical robot has been successfully completed and look forward to marketing and selling the pharmaceutical robot to our customers. Dosell fits well into our product & service portfolio creating additional security and making it easier for users, care and nursing staff. We see a great demand in the market in welfare technology and initially order 50 Dosell, we are really looking forward to 2022 and its continued future." Says Anders Nilsson, Sales Manager Zafe Care Systems.
Zafe Care Systems AB, which was acquired by the AddLife Group, is part of Home Care, similar to Norwegian Hepro, and is one of the leading companies in welfare technology on the Swedish market. Their main customers are the state, municipalities and aid centers. Today, they work with more than 200 municipalities and are suitable thanks to their market-leading technology in all types of care homes.
iZafe, utvecklaren av läkemedeldispenseringsautomaten Dosell, har i det tredje kvartalet lanserat sin konsumentversion via ett samarbetsavtal med apotekskedjan Apoteket. Dosell Konsument är en privat abonnemangstjänst som erbjuder patienter möjlighet att få hjälp med medicinering utan att vara beroende av vården. Marknaden beräknas omfatta cirka 200 000 personer och bolaget står därför inför en spännande fas.
Bolaget genomförde under september en fullt garanterad företrädesemission för att stärka kassan inför kommande kommersialisering. Emissionen omfattade nyemitterade aktier till ett värde om 53,2 miljoner kronor och teckningsoptioner med löptid under 2022. iZafe kan på så sätt erhålla ytterligare 80 miljoner kronor vid fullt tecknande. Både Göran Hermansson, vice styrelseordförande, och Anders Segerström, vd för iZafe, passade på att öka sitt ägande vid emissionen. Bolagets kassa bedöms således vara tillräcklig för en offensiv expansion.
Mangold värderar iZafe med en DCF-modell och förutsätter att samtliga teckningsoptioner nyttjas. Antalet aktier justeras följaktligen upp vilket medför en betydande utspädningseffekt. Avkastningskravet i modellen sänks emellertid från 14,5 till 12,0 procent då lanseringen av Dosell Konsument gått av stapeln. Den nya riktkursen blir
1,85 kronor per aktie.
iZafe Group AB (”iZafe”) has entered into an agreement with Mangold Fondkommission AB (Mangold) as liquidity provider for the iZafe share on Nasdaq First North Growth Market. The purpose of the liquidity provider is to improve the liquidity of the share and decrease the spread between the ask and bid price. Mangold’s assignment commences on November 30, 2021.
In its assignment as liquidity provider, Mangold will facilitate trade in the iZafe share by continuously maintaining both ask and bid orders in the order book. The purpose is to ensure a more accurate share price, which leads to a more accurate company valuation and improves the trading volume of the share.
Stockholm, Sweden – iZafe Group AB (publ.) (NASDAQ First North: IZAFE B) – today November 29, releases its Q3 Interim Report.
Summary of financial performance
• Net sales for the quarter totaled SEK 38 thousand (701). Sales for the quarter comprised revenue related to Dosell sales.
• Operating income for the quarter totaled SEK -5,342 thousand (7,255). The comparative period included the non-recurring effect from the sale of iZafe AB. Excluding the sale of iZafe, operating profit for the comparative period amounted to SEK -6,745 thousand.
• Income after financial items for the quarter was SEK -6,183 thousand (7,103). Excluding the sale of iZafe, income after financial items for the comparative period amounted to SEK -6,897 thousand.
• Cash flow for the period was SEK -6,475 thousand (8,818). The positive cash flow for the comparative period was due to the proceeds received from the divestment of iZafe AB.
• Earnings per share for the quarter, basic and diluted, were SEK -0.2 (0.2).
• Equity per share at the end of the period was SEK 1.5 (1.1).
• The equity ratio at the end of the period was 62.3 percent (87.4).
Important events in the quarter
• iZafe decided to carry out a fully guaranteed rights issue of units amounting to approximately SEK 53 million. The rights issue is fully guaranteed.
• iZafe Group held a general meeting of the shareholders, resulting in a supplementary general meeting at which a majority of shareholders requested an alternative Board of Directors, which was voted through.
The consumer pilot project has been successfully completed, with the consumer version of the Dosell medication-dispensing robot found to be safe and easy to use. Following the development of the consumer version of Dosell in Sweden, this version will also be launched in Italy in 2021.
• iZafe Group has signed an agreement with Apoteket AB to introduce Dosell on the Swedish consumer market, exclusively through Apoteket AB’s channels. The agreement with Apoteket, and its unique market position as one of the leading suppliers of medication sachets on the Swedish market, creates a direct market of the more than 200,000 people who currently take medication using medication sachets from suppliers such as Apoteket.
Important events since the end of the quarter
• The consumer version of Dosell is being launched in Sweden on apoteket.se. Dosell is now available for everyone who regularly takes medication and wants to avoid medication errors through better medication management and treatment compliance to prevent harm.
• The final outcome of the rights issue of units, consisting of shares and series TO10 B share warrants, has been published. The rights issue has been fully subscribed, with approximately 43.6 percent subscribed for using unit rights, around 4.1 percent without the use of unit rights and approximately 52.3 percent subscribed for by issue guarantors.
• Deputy Chairman Göran Hermansson and CEO Anders Segerström together subscribed for a further 458,000 units in the ongoing rights issue of units, in addition to the initial subscription.
• iZafe Group has finalized most of its PCT patent application for the Dosell medication-dispensing robot in order to prepare for the international expansion, planned to be carried out after the ongoing rights issue. Patent applications have been made in those key markets where iZafe has identified significant demand for Dosell.
• Hepro AS has last issued a final approval of the new version of Dosell and has officially approved the pharmaceutical robot in its entirety for the Norwegian market.
Comment by the CEO
With several milestones achieved, we are now letting the medical dispenser Dosell capitalize through several different sales channels, on the established market potential that the digitalization of healthcare and the increased drug consumption costs.
The rights issue that we have now carried out has given us resources to enable the upscaling and globalization of iZafe Group AB. It will also enable future acquisitions and broadening of the service and product portfolio. With a strong liquidity, we can now also work more strategically and long-term in all our decisions.
During the third quarter, we focused on completing Dosell for the consumer market, which resulted in us being approved by Apoteket AB to jointly launch Europe's first medical dispenser for the consumer market in mid-October. It also became clear that we are joining Dutch Adyen with its reliable payment solutions in the Dosell app. We see this as an obvious seal of quality, and we are happy for the collaboration. Their customers include companies such as H&M, Spotify and Telia.
During the quarter, we also worked to ensure the software and Dosell's quality in more markets. The continuous work to comply with MDR (Medical Device Regulation) continues according to plan, which is a requirement to have the classification Dosell has in the form of medical device product class 1.
The consumer product platform is secured in several countries, where we now see great potential. We have begun to approach solutions to the challenges we have had, including the complexity of the sales process and the dependence on other players in product development. Dosell is a unique product that is the first of its kind on a completely new market. This means that we need to raise the awareness towards our target groups, which is one of our highest priorities during the last quarter of the year. In November, we decided to accelerate our marketing efforts with the guidance of our new CMO and expect that this will have a major effect on sales figures during the last quarter of this year, but especially during the first quarter of 2022.
On the B2B side, several of our partners have chosen to test and secure Dosell 2.0 to ensure quality for their customers, which we view positively. However, this has led to longer lead times than we initially expected, which also had consequences for sales, which we can now begin. The tests have led to good response, results and market demand. The tests have also given us extremely important insights about our users, which further helped us to optimize the customer experience. In connection with Hepro now giving its approval for the new Dosellen, sales will also begin properly in the large Norwegian procurement that we won together last year. The collection of that data, both historically and in the future, will be important for us to provide the best and simplest support to ensure that the right medicine is taken at the right time. It is of the utmost importance that we have achieved approval and then "proof of concept" in our domestic market in order to be able to scale up in other markets in large volumes.
We focus on the future and are constantly exploring new expansion opportunities, both geographical and product-related, and see good potential in both areas.
We have also begun work on initiating several different future acquisitions, both on the product and company side, and we will focus on selected areas where we see a clear business potential with favorable synergy effects. We continue to work towards becoming the obvious choice when it comes to safe intake of the right medicine at the right time. Dosell that delivers medicine via sachet will be part of the customer offering where we will in future be able to supplement so we can ensure that the right medicine is taken at the right time also to users who take their medicine in other ways. In this sense, we believe that there are companies which can complement iZafe Group's portfolio in an advantageous way.
Basis for further growth
iZafe Group is a well-capitalized company operating in a rapidly growing market. Through the rights issue, we have created opportunities we have not had before. This is a crucial point to enable sales and the obvious choice in ensuring the right medicine at the right time.
We continue to work purposefully to strengthen our team, also at management level. Our latest addition is Carl-Fredrik Bothén, who has held senior positions in the market at several international companies. As marketing manager, Carl-Fredrik will be responsible for IR (Investor Relations) and for improving communication and driving and developing our marketing with a special focus initially on the Scandinavian market.
iZafe Group is well equipped to advance its positions during 2022. We are leaving behind an important quarter where many milestones have been achieved and with a market that shows great confidence in our product. I look forward to a strong end to 2021 and an even stronger 2022.
Hepro AS has last issued a final approval of the new version of Dosell and has officially approved the pharmaceutical robot in its entirety for the Norwegian market.
“We are pleased that all of our tests on the new Dosell have now been successfully completed and look forward to officially presenting the new improved Dosell to all Norwegian municipalities from now on. In the future, the pharmaceutical robot will be a priority product in Hepro's product portfolio. We can now finally start selling, which we look forward to.” Says Geir Tore Jakobsen CEO, Hepro AS
As Dosell is a medical technology product that requires high security and functionality, all of our partners have had to carry out their own internal controls of hardware and software and ensure all integrations and alarm handling. Following the implementation of the first version of Dosell, some technical challenges arose. The problems caused by the challenges have meant that the requirements for testing and quality assurance have become very high in order for the product to be approved. Dosell has now received this quality stamp and now that Hepro has given its approval, the pharmaceutical robot is now approved for the Scandinavian market.
"These tests have taken longer than the forecast. At the same time, we are very happy to work with such serious partners who make solid own checks to ensure all parts. Hepro AS has been a very important partner for us in the development and testing of Dosell 2.0 and it feels fantastic that the product is now secured at all levels.” Says Anders Segerström, CEO of iZafe Group AB.
Stockholm, Sweden, iZafe Group AB (publ) ("iZafe" or "the Company") announces the opportunity for shareholders, media, and other stakeholders to ask company-related questions in connection with its third quarter report. The report will be available to the public on November 29, 2021 at 08:30 (8:30 a.m.) CET.
Stockholm, Sweden, iZafe Group AB (publ) ("iZafe" or "the Company") today announced the appointment of Carl-Fredrik Bothén as Chief Marketing Officer. In his new role, Bothén will be an integral part of the executive team as he oversees the development and execution of iZafe marketing initiatives.
Carl-Fredrik has more than 25 years of experience in marketing, communication and digitalization. Among other things, he has worked as Nordic marketing manager for TP-Link Nordic AB and as marketing manager for Sixt rent a car. Carl-Fredrik also has experience from working in growth companies in various stages of development with a focus on, among other things, strategy work and growth. He will also place great emphasis on the Company's IR strategy and in connection with this will also be the contact person for shareholders and investors.
– In our growth journey, it has become natural to create a new position and bring in a senior CMO in the company. With Carl-Fredrik's solid experience in marketing and strategic experience of structured and long-term branding, I am convinced that he will be an important asset in our continued growth journey and management team, says Anders Segerström, CEO of iZafe Group AB.
“With many years of experience working with marketing communication, strategic planning and business development at internationally established companies, I can add expertise to iZafe Group by further developing the business to become a for-profit company. I have at an early stage formed a clear perception of our current situation and see a great potential to together with a very committed organization. I will be able to help increase our brand awareness and demonstrate sales figures, short-term and long-term”, says Carl-Fredrik Bothén, CMO at iZafe Group AB.