STENOCARE launches groundbreaking IT-platform for Online Clinics

STENOCARE A/S
NASDAQ FIRST NORTH GROWTH MARKET, DENMARK
TICKER:  STENO

STENOCARE A/S (“Stenocare”) has developed an IT-platform, that enables doctors to launch and operate Online Clinics. The first Online Clinic will be launched in the UK.

Stenocare takes prescribing of medical cannabis to the next level: With today's announcement, Stenocare enables doctors to reach more patients. In short, the new and innovative IT platform enables prescribing doctors, wherever they are, to launch and operate online clinics. This increases a doctor's reach to patients across their geography and facilitates patients' access to trained and experienced doctors and specialists, regardless of where they live within their country.

The platform supports doctors in several ways:

• Administration: patient booking, video consultation, patient journal
• Knowledge: training, supervision by and ongoing access to the Stenocare medical consultant and specialists
• Ownership: Stenocare will transfer ownership to the doctors as the Online Clinic enters a more stable operation.
• Cost efficiency: The platform helps doctors manage total costs and may limit cost per prescription to patients.
• Compliance: The new IT-platform is GDPR compliant to protect the patient’s data.
   

The first Online Clinic is underway: The first to use the new IT-platform is a UK Online pain clinic. The founders are Dr Ayman Eissa and Stenocare, and it is expected that further doctors will join the clinic. Stenocare has commitment to the transfer of its ownership to the clinic doctors as the clinic reaches a stable operation. The clinic will have a specialty in pain management and treatment with both traditional medicine and medical cannabis. Dr Ayman Eissa is an experienced pain specialist for +20 years, and a Committee Honorary Secretary within the British Pain Society. It is expected that the new online clinic will go live for UK patients during 2H 2023 – pending regulatory approvals.

Addressing a key barrier for growth in medical cannabis: Being able and allowed to sell regulatory approved medical cannabis oil products is a major challenge in itself, and with sales in place for 5 markets (Denmark, Sweden, Norway, UK and Australia) and last week’s announcement about entry to Germany, Stenocare has established itself as a market leader. It is also observed that millions of patients across Europe are struggling to enter treatment for their illnesses, where symptoms can potentially be managed with legal medical cannabis. A major reason why the combination of supply (from many vendors including Stenocare) and demand (from patients) does not lead to an immediate explosion in sales and adoption of medical cannabis, is that patients have limited access to prescribing doctors. In fact, only a few percent of all doctors actively prescribe medical cannabis due to a combination of stigma and limited access to knowledge about how to prescribe and why – as an example - medical cannabis can be a beneficial supplement or alternative to opioids.

CEO of Stenocare, Thomas Skovlund Schnegelsberg comments: “Since 2018, we have been a supplier of medical cannabis products to patients is several countries. All countries are different, but if there is one thing, we have learned then it is that easing patients’ accessibility to consultations within pain management is a major barrier and opportunity. We have therefore built a complete Online Clinic platform, that we will offer to doctors and specialists in countries where this type of consultation is available. Essentially this initiative will benefit patients through increased access to qualified pain doctors. As a result, patients will be offered an optimal treatment plan that may also include medical cannabis. It will lead to faster adoption, increased sales and increased activity throughout the supply chain.”

For more information about Stenocare’s milestones and achievements, see: https://stenocare.com/investor-relations/timeline/.