Brain+ closes sales contract with Copenhagen municipality on CST-Therapist Companion to support dementia care and therapy

Investor News

• The contract gives Copenhagen initial access to use CST-Therapist Companion in three dementia care facilities and has the potential to be expanded to a municipality-wide agreement

• As the largest and most important municipality in Denmark, Copenhagen has extensive experience with CST and is a key reference customer that other Danish municipalities observe and follow
• Brain+ now has engagements with 15 Danish municipalities who use CST-Therapist Companion as part of either sales contracts, usability trial participation or involvement in the CO-PI grant application for implementation and scaling of the product
• It is still expected that more CST-Therapist Companion sales contracts will be closed before the end of 2023

Copenhagen, Denmark, December 11, 2023 – Brain+ A/S (Nasdaq First North: BRAINP)

Brain+ has signed a sales contract with the municipality of Copenhagen giving access to use the company’s CST-Therapist Companion in initially three dementia care facilities for a period of 12 months. CST-Therapist Companion is a software-based solution, developed by Brain+ to effectively support the delivery of Cognitive Stimulation Therapy (CST), an evidence-based non-pharmaceutical therapy for people with mild to moderate dementia. CST is delivered at group level and currently facilitated by dementia coordinators with a special CST education. The method has been shown to produce improvements in cognition and quality of life and is recommended for global implementation by the World Alzheimer’s Association.

Copenhagen municipality has several years of experience offering CST to their citizens living with dementia and their key CST stakeholders have provided input to the Danish variant of CST-Therapist Companion through participation in Brain+ facilitated co-creation workshops. With the signed sales contract, the municipality will now use the product to strengthen CST delivery at group level and support targeted training to stimulate various skills in their citizens with dementia. The sales contract has the potential to be extended in time and in size to cover all of Copenhagen’s dementia care centers. Copenhagen is the largest of Denmark’s 98 municipalities covering more than 10% of the estimated total of people living with dementia in Denmark.

Brian Østergaard, Business Development Manager and Head of Sales at Brain+: “It is extremely encouraging to experience how CST is gaining widespread adoption across Danish municipalities and not least to see the growing interest we are being met with for our solution to help deliver the therapy more effectively to help people with dementia. I am thrilled to now start the implementation of CST-Therapist Companion in Copenhagen, which by many standards is one of the most progressive municipalities in terms of both CST delivery and adoption of new and cutting-edge welfare technologies to provide better care and therapy for their citizens.”

Prior to signing the sales contract with Copenhagen, Brain+ has successfully passed through an extensive review by the municipality’s IT department as well as a general due diligence process, which is known to be one of the most thorough and difficult in the country. The contract with Copenhagen municipality has been signed to offer access in the first place to CST-Therapist Companion v1.0 with the option to swap to version 2.0 of the product, which is planned for release in Q2 2024.

Brain+ follows a market access and pre-sales strategy, which utilizes various ways to engage with the dementia care institutions and key stakeholders in the municipalities, which are the target customers for CST-Therapist Companion, the company’s first digital dementia therapeutic. The objective for all engagements is to make users and decision makers aware of the product’s key value offerings and open ways to have it implemented in the daily operational routines of the municipal dementia care. As CST is gaining still more widespread recognition among Danish municipalities, Brain+ is being met with strong interest in how to use CST-Therapist Companion to help deliver and scale the therapy more effectively. At this point Brain+ has user engagements with 15 Danish municipalities in the form of sales contracts, participation in the ongoing CST-Therapists Companion usability trial (see Brain+ Investor News from 14 November 2023: Brain+ and VIA University College start usability study on CST-Therapist Companion in Denmark), or involvement in the Copenhagen-Partnering Innovation (CO-PI) grant application for implementation and scaling of the product (see Brain+ Company Announcement from 23 November 2023: Brain+ nominated to CO-PI grant of up to DKK 3.5 million to scale implementation of CST-Therapist Companion into dementia care in Denmark). In addition, Brain+ has active dialogue and outreach with the majority of other Danish municipalities.

Contact Information

CEO and Co-founder: Kim Baden-Kristensen, + 45 31393317 (SMS), [email protected]

Mission:  Bringing effective digitally-delivered dementia therapies to those in need, serving a million people with dementia, care-givers and clinicians by 2030