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Bioservo Technologies introduces the next version of Ironhand® - the world’s first soft robotic muscle strengthening system

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

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06 May, 2019  ·  Regulatory information

Bioservo Technologies ABInterim Report January - March 2019

First quarter in figures

  •  Net sales SEK 1.7 M (1.4), up 21,4%
  •  EBITDA of SEK -4.4 M (-5.1)
  •  EBIT of SEK -5.4 M (-5.8)
  •  Earnings was SEK -5.4 M (-5.8)
  •  Earnings per share before and after dilution amounted to SEK -0.60 (-0.65)

Significant events during the period

Bioservo Technologies AB and the infrastructure division of Eiffage strengthened their cooperation to develop a bionic arm, one year after the development of “Ironhand® the bionic glove concept, the world’s first muscle-strengthening soft robotics system. Eiffage has already placed a first order to Bioservo, worth 87 000 euros for the development of “Ironarm”.

The Nomination Committee of Bioservo Technolies AB (publ) has decided to propose to the Annual General Meeting the following proposals for the number of Board members and the election of Board members. The Nomination Committee proposes that the number of Board members on the Board should be six (6). The Nomination Committee proposes, for the period until the end of the next Annual General Meeting, re-election of the Board members Anders Lundmark, Runar Bjørklund, Hans von Holst, Karin Ruiz and Kunal Pandit, as well as new election of Nikolaj Sørensen. As the Chairman of the Board, it is proposed that Anders Lundmark be re-elected. Tomas Ward has declined re-election. 

Events after the end of the period

No significant events during the period.

CEO Petter Bäckgren comments on the first quarter of 2019

In the first quarter we had a strong focus on preparing the next generation of Ironhand® for commercial launch. The all-new Ironhand® addresses specific concerns received through our multiple partnerships with the first version and we look forward to the launch which takes place within short. During the period, Bioservo has participated in several industry events, which again confirms the strong interest in our technology. I am confident that the future will show the high potential for our technology, both within industry as well as life science sector.  

For further information please contact:

Petter Bäckgren
CEO
petter.backgren@bioservo.com
+46 8 21 17 10

or

Maria Myräng
CFO
maria.myrang@bioservo.com
+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 6 May 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 optimize the body’s endurance and performance, or for people with reduced muscle strength.

Bioservo Technologies AB was founded in 2006 in collaboration between researchers at the Royal Institute of Technology and a doctor at Karolinska Hospital. Since its inception, Bioservo Technologies AB has further developed its acclaimed and patented SEM  technology (Soft Extra Muscle) and is the world leader in wearable soft robotics. 

Bioservo Technologies is dedicated to becoming the world-leading developer of wearable technologies based on bionic soft robotics. 

The commitment is based on a true belief that this technology will change the lives for many people, enhancing their independence and quality-of-life. Our innovative solutions are already delivering future business opportunities and breakthrough technologies. We are extremely proud to have been top-ranked for our technological and innovative progress in both Europe and in Sweden. Our revolutionary SEM (Soft Extra Muscle) technology was invented by Professor Hans von Holst (neurosurgery), Professor Jan Wikander and Doctor Johan Ingvast, PhD (mechatronic engineering).

FNCA Sweden AB, +46(0)8-52800399, info@fnca.se is the company’s Certified Adviser on Nasdaq First North-

For more information, please visit www.bioservo.com