Press Releases

AroCell AB (publ) Interim Report January 1st to December 31st, 2021

A word from the CEO
”2021 has been an exceptional and important year for AroCell, which has been characterized by major changes and a high work pace. The acquisition of IDL Biotech was a significant step forward for AroCell and now the AroCell Group has a strong foundation that creates a good foundation for implementing our strategy.

To be able to continue the commercialization of our existing products, and to develop and apply for regulatory approval for new products and markets, we have completed a new issue of 86 MSEK. Thanks to the support we received from our shareholders in the now completed share issue, we have everything in place to implement our business plan.

It’s reassuring that despite the restrictions inflicted by the COVID 19 pandemic, we see a strong recovery and growth in the oncology segment, we also saw an all-time high in sales in Germany in 2021. Now that COVID restrictions are loosening and more markets are opening up, there is good hope for continued rapid growth in our oncology segment. During the pandemic, AroCell has systematically reached out to new markets for our bacteriology product TUBEX® TF, which we hope to see results of soon. In parallel with this, planning for future clinical studies that will form the basis for several approvals of our products on new markets are ongoing.”

Anders Hultman, CEO

Reporting period October 1st – December 31st

  • Net sales amounted to 5,894 (20) KSEK
  • Profit after financial items amounted to -19,991 (-6,012) KSEK
  • Cash flow from operating activities for the period amounted to -9,423 (-3,834) KSEK
  • Earnings per share before and after dilution amounted to -0.21 (-0.08) SEK

Reporting period January 1st – December 31st
Please note that IDL Biotech is only included in the second half of the year.

  • Net sales* amounted to 11,996 (84) KSEK
  • Profit after financial items amounted to -50,573 (-24,052) KSEK
  • Cash flow from operating activities for the period amounted to -28,206 (-18,902) KSEK
  • Earnings per share before and after dilution amounted to -0.54 (-0.33) KSEK
  • Cash and cash equivalents at the end of the period amounted to 18,402 (42,064) KSEK

*Net sales for the period including IDL Biotech correspond to 23,032 (21,832) KSEK.

Events during the reporting period October 1st – December 31st

  • AroCell informed about the updated operational strategy following the acquisition of IDL Biotech AB. The Group has established a joint office in Bromma so that the operations' strengths and areas of expertise are utilized optimally, to vigorously develop and streamline the newly formed Group.
  • A new study was published that examined whether the concentration of thymidine kinase 1 (TK1) in the blood early shows whether cytotoxic drugs work or not. The measurements were made with AroCell's TK 210 ELISA. The article is authored by Bernhard Tribukait and was published in the journal Cancers, 2021.
  • AroCell continues to expand on the market with new distributors. The Group has signed a distributor agreement with Rock Medical Ltd covering the UK and Northern Ireland for the sale of UBC® Rapid.
  • AroCell's Board of Directors proposed a fully guaranteed rights issue, which was then approved at the Extraordinary General Meeting in January 2022.
  • At the end of the year, AroCell signed a Supply and License agreement with ZECEN Biotech for the distribution of the TPS® CLIA product on all their automated platforms on the Chinese market. The registration process has been initiated with The National Medical Products Administration (NMPA) in China and the product is planned to be available on the Chinese market by the end of 2022.

Events after the reporting period

  • A prospectus has been published for the proposed and approved rights issue.
  • AroCell has initiated a discussion about a collaboration with Attana AB. The collaboration aims to give AroCell access to Attana's extensive knowledge in quality and product development, while AroCell's biomarkers could eventually be used on Attana's instruments.
  • During the Extraordinary General Meeting, AroCell's Board was expanded with two new members, Per-Anders Abrahamsson and Max Pihlqvist.
  • The outcome of the rights issue was 100% subscribed for, of which 63% with or without the support of subscription rights. The other 37% were subscribed by the issue guarantors. The Group receives approximately SEK 86 million before deductions for issue costs.

Interim report January 1st – December 31st, 2021 (available in Swedish only) (Link)