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Bioservo Technologies AB Interim Report January - March 2020 (regulatory information)

World’s first soft robotic muscle strengthening system. Developed in collaboration with leading Fortune 500 companies


19 Feb, 2019  ·  Regulatory information

Bioservo Technologies AB Year-End, 1 January-31 December 2018

Year-End, 1 January-31 December 2018 

Fourth quarter in figures 

  • Net sales rose to SEK 2.8 M (2.6)
  • EBITDA amounted to SEK -4.0 M (-5.0)
  • EBIT totalled SEK -4.9 M (-5.8)
  • Loss for the period was SEK -10.6 M (-5.8)
  • Loss per share before and after dilution amounted to SEK -1,19 (-0,65)
  • At 31 December, cash and cash equivalents were SEK 25.6 M (46.9)

Full-year in figures 

  • Net sales rose to SEK 6.7 M (4.7)
    • EBITDA amounted to SEK -18.9 M (-16,3)
  • EBIT totalled SEK -22.2 M (-18.4)
  • Loss for the period was SEK -27.9 M (-19.3)
  • Loss per share before and after dilution amounted to SEK -3.12 (-2.41)*
  • At 31 December, cash and cash equivalents were SEK 25.6 M (46.9)
  • The board proposes that no dividend be paid

* Adjusted for 5:1 stock split in March 2017

Significant events during the period 

  • Bioservo secured an order of 0.5 MSEK for Ironhand from an existing international customer in the automotive industry.
  • It was resolved at an Extraordinary General Meeting to issue warrants for the establishment of an employee stock option programme.
  • Bioservo signed a distribution agreement with Officine Ortopediche Rizzoli for Carbonhand in Italy.

Events after the end of the period 

  • Bioservo is strengthening its research- and development cooperation regarding Ironarm with Eiffage.

CEO Petter Bäckgren comments on the fourth quarter of 2018     

We summarize an eventful year with introduction of Ironhand® and several new projects and collaborations. I can conclude that Bioservo is in a very inspiring and interesting development phase. We are now focusing on Assessment, risk assessment to reduce ergonomic problems, and on continued development and improvement of Ironhand®. The work of introducing the next version of Ironhand®, which contains comprehensive improvements, is being prepared right now, and is expected to be ready for the market at the end of the second quarter of 2019. Within the EU-project iHand, we are preparing clinical trials for our healthcare glove Carbonhand®, which will start during the first half of 2019. Altogether, I look at the future with credence with a significant potential for our technology in the industry as well as in the healthcare segment.

For further information please contact:

Petter Bäckgren
+46 8 21 17 10


Maria Myräng
+46 8 21 17 10

Note This information is such as is required by Bioservo Technologies AB under the EU Market Abuse Regulation and the Securities Market Act. The information was submitted, through the care of the above person, for publication on 19 February 2019 at. 08:30.

Bioservo Technologies in brief

Bioservo Technologies (publ) is a technology and development company that combines medical science with modern robotics. The company holds a leading global position within soft exoskeleton technology – wearable non-invasive devices – for people in need of extra power to optimise the body’s endurance and performance, or for people with reduced muscle strength.

After many years of research and development, Bioservo Technologies is now focused on a commercialisation of the company’s products and patented technologies. The gloves are well-suited to medical rehabilitation, and to preventive use in a variety of industrial applications. The company has signed strategic cooperation agreements with several multinational companies within e.g. the vehicle, aviation as well as the construction and infrastructure industry.

Bioservo Technologies was founded in 2006 through a collaboration between researchers at the Royal Institute of Technology and doctors at Karolinska University Hospital in Stockholm. Bioservo Technologies is a Swedish public limited company with its headquarters and operations based in Kista, north of Stockholm. FNCA Sweden AB, +46(0)8-52800399, is the company’s Certified Adviser on Nasdaq First North-

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