STOCKHOLM--(BUSINESS WIRE)--The production of disposable electrodes for SciBase’s (STO:SCIB) device Nevisense, which is of high strategic importance, will be brought in-house. The companies have mutually agreed to transfer the manufacturing to SciBase when the current manufacturer Ginolis has completed the next milestone in the stepwise automation of the production process.
- The production of the electrodes is our most strategic and important process, which is why we want to handle it internally. We believe that by fully controlling the production process it is easier for us to drive the development of a more cost effective production forward. We would like to take the opportunity to thank Ginolis for their professional services and the high quality of the electrodes produced, says Simon Grant, CEO at SciBase.
As a preparatory step two former Ginolis employees, who have been involved in the production of the electrodes, are now employed by SciBase. The production itself will continue from Ginolis’ current premises in Uppsala.
By integrating the manufacturing of the electrodes into SciBase’s operations, product development including improvements of the design and the technology itself of the electrodes is facilitated.
- In addition to a more efficient R&D process, we also get a deeper understanding of the production process, which enables SciBase to better evaluate the production from a strategic perspective in the future, says Anna Danström, Manager Electrode Development at SciBase.
When using Nevisense, a new electrode is required for every patient examined. SciBase’s business model is based on selling instruments, but the major potential lies in the continuous use as it generates revenues from the sale of the single-use electrodes. During the first quarter of 2016 SciBase increased sales of the electrodes with 34 percent. The company does not expect the margin, which improved strongly in 2016, to be affected notably short-term.
The information in this press release is disclosed by SciBase Holding AB (publ) in accordance with the Swedish Securities Markets Act and/or the Swedish Financial Instruments Trading Act. The information was submitted for publication at 08.00 a.m. CET, on 23 June 2016.
About Skin Cancer
Skin cancer is one of the most common cancers in the world, accounting for nearly half of all cancers. It has been estimated that nearly half of all Americans who live to the age of 65 will develop skin cancer at least once. Malignant melanoma is the most fatal form of skin cancer causing the majority (75%) of deaths related to skin cancer. Worldwide, doctors diagnose about 230,000 new cases of melanoma yearly.
About SciBase and Nevisense
SciBase AB is a Swedish medical technology company, headquartered in Stockholm that has developed a unique point-of-care device for the accurate detection of malignant melanoma. Its product, Nevisense, helps doctors to detect malignant melanoma, the most dangerous type of skin cancer. SciBase was founded by Stig Ollmar, Associate Professor at The Karolinska Institute in Stockholm, Sweden. Nevisense is based on substantial research and has achieved excellent results in the largest clinical study ever conducted on the detection of malignant melanoma. Nevisense is CE marked in Europe, has TGA approval in Australia, and is awaiting FDA clearance in the United States. Nevisense is based on a method called Electrical Impedance Spectroscopy (EIS), which uses the varying electrical properties of human tissue to categorize cellular structures and thereby detect malignancies. SciBase is listed on Nasdaq First North (“SCIB”). Avanza is the certified advisor. Further information is available on www.scibase.com.
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