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CEO letter January 2020

UAE and beyond.

Welcome 2020! Here is my first letter of the new decade and many of you have been waiting for an update. We have now passed through a few hectic months with the very successful 191 MSEK capital raise – thank you all for your trust and support. We have also made several important talent acquisitions, continued the expansion of the Brighter group, and more.

Many of our shareholders have been asking about Brighter’s UAE activities, our current status there and what the next steps are. The UAE and the wider GCC region are where we initiate the deployment of Actiste Diabetes Management as a Service, and we believe there is potential to be very successful. We have a growing dedicated team in Dubai working towards making this happen.

While working closely with the UAE Ministry of Health and Prevention on registering the Actiste device and related products in the UAE (which includes screening and registering of consumables and external companies like technical partners and resellers providing the consumables), we have initiated discussions with other parties in the region as well. We are also ready with the internal preparations for the pilot program, which will be used in other markets too. Since there are so many external factors beyond our control influencing this development work, it’s not easy to predict movements, and our team is on their toes continuously interacting with relevant parties. In order to minimize market speculation, we won’t disclose specific timings. But rest assured, any relevant commercial development will be announced in our official channels.

In Saudi Arabia, the largest market in the GCC region and with almost 6 million diabetics, several large corporations have shown interest in partnering with us for an upcoming market entry. Petra Kaur, head of the commercialization process, Kristian Sandberg, director of our middle east operations, and Martin Cederberg, our newest talent and now leading the Actiste business area, recently met with representatives from these companies in Saudi Arabia, before heading over to Arab Health in Dubai.

Meanwhile, in Southeast Asia activities are in full steam to initiate registrations of the Actiste system. For this we have been busy meeting and evaluating partners that can support us. Regulatory roadmaps are, despite the CE marks, bureaucratic and need careful analysis and the right partners. Regional partnerships will intensify as registrations with the authorities are moving forward. Assuming all goes as planned, we will be able to offer Actiste in Indonesia, Thailand, Singapore and potentially also Malaysia in collaboration with partners within this year. I will also take part in the Sweden Southeast Asia Business Summit to further enhance our presence in the region.

When it comes to the recent acquisition of Nectarine Health, as well as the other investments we have made during the last year – Camanio and Accumbo – we will be focusing on those new business areas and discussing Brighter as a group in the next Brighter podcast, which can hopefully be produced and published during February.

Best regards,
Henrik Norström
CEO Brighter AB (publ)

Brighter – Data-driven diabetes management as a service by Edison Investment Research

“We arrive at an initial valuation of SEK1046.7m or SEK15.08 per share, which is based on a series of assumptions about the company’s lead product, Actiste, and its commercialisation. Once CE marked, we expect the company to conduct human factors studies demonstrating the safety and efficacy of the drugdevice combination product.”

Download the full report from Edison here.

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