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CEO letter March 2020

Staying a step ahead and managing the Covid-19 outbreak.

We are currently dealing with an extraordinary and unprecedented public health crisis on a global scale, which has had widespread effects on everyday life, healthcare, travel and the financial markets. The Covid-19 outbreak requires extensive collaboration across society, government and business, and we must all do our bit to help. For the protection of our team members and the broader community, Brighter’s management acted early by arranging a Work-From-Home strategy. Being a tech-savvy organization, this has worked out smoothly and the daily operations are ongoing as usual.

We have received many questions related to the Covid-19 outbreak, specifically in regards to what effects it is having on our ongoing commercialization activities.

In short, we are not experiencing any major disruptions. Like everyone else, we are to some extent affected by general challenges in everyday life, such as travel restrictions and cancelled events. But over-all Brighter is not currently experiencing any major negative effects – rather the opposite, due to the crisis highlighting the benefits of solutions like ours. Although it’s a very alarming and sad event, we believe the outbreak will strengthen our position in the long term. Product registration processes are still active, as well as the production of Actiste devices. We are still booking meetings and preparing for additional market entries and making the Actiste service available for consumers. R&D is moving forward too on new and exciting projects.

Meanwhile, our go-to-market team and leadership are reaching out to relevant stakeholders and decision-makers offering our support and highlighting the relevance of specialized remote care services in this crisis in particular but also in general. The other companies in the Brighter Innovation Group are working on their end as well, both Camanio and Nectarine Health, as well as Accumbo, being highly relevant in times like this when people are recommended to stay in quarantine and not meet with elderly family members. Connected care solutions and supplemental digital services means that we can continue to treat patients who have already been identified to be at risk, while they are staying at home. At the same time, it helps to limit healthcare personnels exposure to the virus and minimizes the general spread.

We have also taken measures to be one step ahead of all this and are continuously analysing and de-risking potential issues that may occur if the crisis worsens or stays for a long time with increased border restrictions and wider quarantines. Should we receive an unexpected Corona-related emergency order, we could potentially experience some shortage of electronic parts due to longer lead times in transportation. But for now, we are well prepared and have a resilient supply chain to act upon request.

Brighter is adapting well to the situation and we follow the development closely to be able to take action if necessary.

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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