Glycorex Transplantation AB (publ): Interim Report January - June 2023

April - June 2023

• Net sales: SEK 9.1 million (11.2)
• Operating income: SEK -3.9 million (-1.7)
• Net income for the period: SEK -3.9 million (-1.7)
• Earnings per share: SEK -0.05 (-0.02)

Summary of the quarter

• Decreased sales by 19% despite the second best second quarter in ten years.
• The first blood group incompatible kidney transplants with Glycosorb® ABO are performed in Hong Kong and Belgium.
• Training and start-up of our technology in six new transplant centers.
• Glycorex participates in three international transplantation congresses.
• Glycorex participates for the first time in an international transfusion congress.
• The method for performing blood group-incompatible heart transplants in children using Glycosorb® ABO is presented by Dr Richard Issitt from Great Ormond Street Hospital in England at two American congresses.
• Of all organ transplants performed with Glycosorb® ABO in India, over 22 per cent were liver transplants from living donors.

CEO comment

“During the second quarter of the year, sales amounted to SEK 9.1 million (11.2), corresponding to a decrease of 19 percent compared to the very strong second quarter of 2022, where we saw strong demand as the covid pandemic subsided and a large number of surgeries that had previously been postponed could be performed. It is worth noting that the second quarter of 2023 in terms of sales is the company’s second best second quarter in ten years and compared to the first quarter of the year, growth amounted to 29 percent. Operating profit for the quarter amounted to SEK -3.9 million (-1.7).

The quarter was characterized by a high level of activity with many customer interactions, participation in international congresses and training and start-up of our technology in new transplant centers. After the end of the quarter, we also strengthened our organization in the Transfusion business area through the recruitment of a dedicated Business Development Manager.

Glycorex’s ambition is to establish sustainable and profitable growth. Our resources are limited and must be focused on the areas where they have the greatest effect. During the autumn, we will therefore review our expenses to ensure that every krona is invested in areas that can drive growth whilst continuing to develop the company’s commercial and sales-oriented part in line with the previously communicated growth strategy.

Let me conclude by saying that after nine months as CEO of Glycorex, I am strengthened in my conviction that our strategy together with increased focus and efficiency will lead to a strong development in the coming years. It is hugely motivating to know that our hard work and unique technology ultimately contribute to saving lives and improving the quality of life of many critically ill patients.”

- Johan Lavén, CEO

For more information, please contact:

Johan Lavén, CEO
Email: [email protected]
Tel: + 46 (0)73 330 92 16

This information is the kind of information Glycorex Transplantation AB (publ) is obliged to make public under the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person above, on August 30, 2023, at 08:00 CET.

Brief information about the company

Glycorex Transplantation AB (publ) is a global medical technology company headquartered in Sweden. The company has developed a unique technology to select and remove specific antibodies in the blood.

Glycosorb® ABO is one of the company's self-developed proprietary medical devices that is used to facilitate blood group-incompatible transplants. Whilst primarily used to facilitate blood group incompatible kidney transplants, Glycosorb® ABO is also used in blood group incompatible liver-, heart-, lung-, and stem cell transplants. More than 60 scientific papers have been published in reputable medical journals, showing excellent short- and long-term outcomes of blood group incompatible transplants performed with Glycosorb® ABO. Glycosorb® ABO has been used in more than 6,000 transplants in over 25 countries. In addition to Europe, Glycosorb® ABO is used in Australia, Canada, India, Israel, Mexico, Singapore, South Africa, and Thailand, for example.

The company has also developed a CE-marked medical device product for the production of universal (low titer) blood products and is collaborating with a leading European research institute to develop a product for the treatment of the autoimmune disease rheumatoid arthritis.

Glycorex Transplantation AB (publ) is listed on NGM Main Regulated Equity (Nordic Growth Market) and is traded under the symbol GTAB B.