Status report from VibroSense Dynamics
VibroSense Dynamics AB (VibroSense) - Several positive signs from the market as the Company continues to implement its business plan.
The business plan is continuously implemented with several actions in parallel. VibroSense has carried out various market activities and supported its customers as well as partners in multiple research studies. VibroSense has also identified that there is a pronounced interest in Sweden among people living with diabetes, to pay themselves for a reliable foot examination outside the public health care system.
Marketing and sales
VibroSense is currently focusing on activities in Germany and Sweden where four leading diabetes clinics are evaluating the company's product, VibroSense Meter II and the application Diabetic Foot Screening.
During the spring 2023, the Company will intensify its activities in the German market and implement sales activities based on reimbursement codes, with focus on people having a private health care insurance in Germany. With these codes, it’s estimated that a doctor can charge the healthcare system between 121 – 215 EUR per examination. This means a significant incentive for a doctor to carry out these examinations with the Company's product, VibroSense Meter II.
In Sweden, the Company continues to work within the business segments Diabetes and Occupational Health Care. In addition to this, another sub-segment has been identified where people living with diabetes have indicated a significant interest to pay by themselves for a reliable foot examination. This conclusion is based on the results of a market survey carried out by VibroSense, where approximately 80 % of 300 people with diabetes, responded that they are prepared to pay for such examination.
VibroSense plans to carry out several activities in Sweden during the spring 2023, with the objective of collaborating with one or more partners who can offer a reliable foot examination to selected target groups within the diabetes business segment.
The work with regulatory approval of the VibroSense Meter II in China is proceeding according to plan. The registration project is managed by the company's distributor in China, UMCARE, which is currently supervising the necessary tests at a testing institute in Shanghai. The plan is that the regulatory approval shall be completed by the end of 2023, after which the instrument VibroSense Meter II can be launched in China.
Research studies
VibroSense has an established collaboration with research groups for many years. Currently there are two ongoing studies within diabetes, one in Sweden and one in Germany. There are also two ongoing studies within oncology, one in Denmark (Roskilde) and one new study at Ryhov County Hospital in Jönköping in Sweden.
The common goal for these studies is to develop new and better treatment regimens, where the VibroSense Meter shall be used as standard tool to support the treatments.
During spring/summer 2023, further publications are expected from completed studies, where the VibroSense Meter II was used to quantify the neurosensory capacity.
Organization and external resources
During the autumn 2022, the Company strengthened its organization with one person who will be responsible for manufacturing, training and support. This is an important function in order to scale up the Company's operations and business model.
In Germany VibroSense plans to strengthen its presence with one person to be working with sales targeting doctor offices, based on the identified reimbursement codes in the diabetes segment.
Incentive program
On December 16, 2022, the period for using warrants of series TO 2019/2022A-B addressed to the board and key persons in the company ended. No options were used for subscription as the subscription price for redeeming the options was SEK 14.97 per share, which significantly exceeds the current share price in VibroSense (VSD B).
Contact
Hans Wallin, CEO of VibroSense Dynamics AB
Phone: +46 40 88 026
Email: [email protected]
www.vibrosense.se
"The new Gold Standard for reliable
detection of nerve damage"
About VibroSense Dynamics AB ( publ )
VibroSense Dynamics AB (publ) develops and sells medical technology products and services for diagnostic support for nerve damage in the hands and feet. The method involves measuring and quantifying the ability to feel vibrations at several frequencies. The company's customers are diabetes clinics, occupational health care, hospitals, health centers and researchers.
Our vision is that the company's products should be a standard instrument in all neurological examinations to detect early signs of changes in sensation so that patients and their caregivers can implement preventive measures that prevent, reduce or delay the onset of nerve damage in the hands and feet.