The nomination committee, which is appointed in accordance with the principles adopted by the annual general meeting on May 22nd, 2024, consists of:

• Jon Eiken, (chairman of the nomination committee), representing his own shares
• Jerker Swanstein, representing Labbex Förvaltnings AB
• Greg Dingizian, representing his own shares

Before the annual general meeting 2025, the nomination committee shall prepare a proposal for the election of the chairman and other members of the board of directors, the election of the chairman of the annual meeting, the election of auditors, the determination of fees, and matters pertaining to it.
 
For more information, please visit:
Nomination committee - AroCell
 
Shareholders who wish to submit proposals to the nomination committee for the annual general meeting 2025 can e-mail info@arocell.com (header ”AroCell´s nomination committee”).

The proposals should be submitted to the nomination committee before January 31st, 2025.

This patent, which was previously granted by the European Patent Office (EP3966568) in July 2024, signifies a major milestone for AroCell. It relates specifically to the use of serum thymidine kinase 1 (sTK1) to predict and diagnose Mycoplasma pneumonia caused by M. pneumoniae. Additionally, the TK1 protein levels can assist in determining the type of respiratory infection: if the TK1 levels are above the threshold, it indicates Mycoplasma pneumonia; if they are below the threshold, it suggests pneumonia caused by a different bacterium.

The research that supports the patent demonstrates an exciting opportunity to extend the use of our TK1 test to include respiratory infections. By strengthening the protection of our test, we facilitate further commercialization and broader use of our TK1 marker.

Prostate cancer is the most common malignancy in men. While the Prostate Specific Antigen (PSA) serum biomarker is widely used for early detection of prostate cancer, it offers limited value for prediction of patient survival outcomes. Thymidine kinase 1 (TK1), an enzyme found in actively dividing cells, emerges as a crucial biomarker in this context.
 
Different groups of patients with metastatic prostate cancer were studied with respect to the prognostic value of elevated levels of sTK1. High levels of sTK1 were associated with poor survival in patients with hormone-sensitive tumors treated with anti-hormone therapy. A more than 8-fold increased risk of death was associated with elevated sTK1, also after adjusting for age and other clinical factors, including PSA. A strong correlation between high sTK1 levels and reduced survival was also noted in castration-resistant prostate cancer patients. Interestingly, in patients treated with docetaxel (a chemotherapeutical drug), the association between sTK1 levels and survival was weaker compared to that observed for patients receiving androgen receptor signaling inhibitors.
 
These results confirm previous findings of the potential of sTK1 as a prognostic biomarker. The findings suggest that sTK1 can be used to identify patients with disseminated prostate cancer that will benefit from chemotherapy rather than anti-hormonal treatment.
 
"These are fascinating and promising results. Prostate cancer is the most common disease among men in many parts of the world. The study results show that the serum marker TK1 can guide the choice of drugs for the treatment of patients with metastatic disease," says Professor Stig Linder, scientific advisor at AroCell.

Article link: https://www.sciencedirect.com/

CEO’s statement
“It is with great pleasure that I present another strong quarterly report. We have achieved positive net earnings, excluding goodwill amortization, and are now well on our way to sustainable profitability. Sales increased significantly, confirming that our strategic focus on growing within existing markets is working. At the same time, we prioritize profitability and are adapting our organization and production capacity in an economically responsible manner to ensure stable and long-term growth.

During the quarter net earnings, excluding goodwill amortization, came in at just over 50 KSEK, and we achieved a positive EBITDA of just over 160 KSEK. This is in line with our plan to build a successful diagnostics company.

Revenue increased by an impressive 31% during the quarter compared to the same quarter last year, and by 25% for the first nine months of the year compared to the previous year. We can now state that we have four years of steady sales growth behind us. The pace of sales growth has accelerated over the past year, and we see continued strong order intake, which bodes well for the future”.

Anders Hultman, CEO

Reporting period July 1st – September 30th

• Net sales amounted to KSEK 13,996 (10,700).
• Profit after financial items amounted to KSEK -9,841 (-13,003) *.
• Cash flow from operating activities for the period amounted to KSEK -4,161 (-5,661).
• Earnings per share before and after dilution amounted to SEK -0.04 (-0.06).
• Cash and cash equivalents at the end of the period amounted to KSEK 44,535 (51,512).

* Includes costs for goodwill amortization of KSEK 9,895 (9,895) for the quarter.

Reporting period January 1st – September 30th

• Net sales amounted to KSEK 42,072 (33,528).
• Profit after financial items amounted to KSEK -33,437 (-42,161) *.
• Cash flow from operating activities for the period amounted to KSEK -5,608 (-12,525).
• Earnings per share before and after dilution amounted to SEK -0.15 (-0.18).
• Cash and cash equivalents at the end of the period amounted to KSEK 44,535 (51,512).

* Includes costs for goodwill amortization of KSEK 29,684 (29,684) for the quarter.

Interim report January 1st – September 30st, 2024 (Link)

CEO’s statement
“I am very pleased to announce that our growth focus within existing markets is yielding results. We are experiencing a significant increase in sales while simultaneously adjusting our organization and production capacity in an economically sustainable manner to ensure continued stable growth. In parallel, we also aim to broaden our product portfolio through in-licensing or acquisition. During the second quarter, we achieved a positive cash flow of SEK 2.4 million, which marks an important step forward in our efforts to build a successful diagnostics company.

Revenue increased by 30% compared to the same quarter last year and by nearly 20% compared to the first quarter. We are now in our fourth consecutive year of strong sales growth. Compared to the first half of 2023, sales have grown by 23%, and we continue to see very strong order intake”.

Anders Hultman, CEO

Reporting period April 1st – June 30th

• Net sales amounted to KSEK 15,273 (11,775).
• Profit after financial items amounted to KSEK -13,054 (-15,490) *.
• Cash flow from operating activities for the period amounted to KSEK 2,767 (-2,342).
• Earnings per share before and after dilution amounted to SEK -0.06 (-0.07).
• Cash and cash equivalents at the end of the period amounted to KSEK 48,705 (57,548).

* Includes costs for goodwill amortization of KSEK 9,895 (9,895) for the quarter.

Reporting period January 1st – June 30th

• Net sales amounted to KSEK 28,076 (22,828).
• Profit after financial items amounted to KSEK -23,594 (-29,158) *.
• Cash flow from operating activities for the period amounted to KSEK -1,447 (-6,864).
• Earnings per share before and after dilution amounted to SEK -0.10 (-0.13).
• Cash and cash equivalents at the end of the period amounted to KSEK 48,705 (57,548).

* Includes costs for goodwill amortization of KSEK 19,789 (19,789) for the quarter.

Events during the period April 1st – June 30th

• April 5-8 - AroCell’s marketing and clinical team alongside with our partners Prof Thorsten Ecke and Dr. Sarah Weiss from Germany participated in the 39th annual European Association of Urology Congress. Where our team presented a poster titled “Effect of hematuria on the performance of BTAstat®, UBC® Rapid, and NMP22 as urine-based biomarker for bladder cancer detection“.

• April 5-10 - AroCell visited American Association for Cancer Research (AACR) Annual Meeting 2024 in San Diego, where our team delivered two impactful poster presentations. Professor Teemu Murtola highlighted the TK 210 ELISAs predictive role of castration resistance in metastatic prostate cancer, while Kiran Jagarlamudi, CSO from AroCell, presented the clinical applications of TK 210 ELISA in DLBCL therapy.

• April 12 - AroCell published the Annual Report for 2023.

• April 18 - A new patent has been approved in the USA. The patent protects AroCell's specific antibodies that bind to the C-terminal region of TK1. These antibodies are used to measure TK1 protein in serum for cancer diagnostics.

• April 22 - AroCell published the notice for the Annual General Meeting for 2024.

• May 22 - AroCell published the report from the Annual General Meeting for 2024.

• June 19 - A delegation from Airlangga University and Dr. Soetomo General Hospital visited the AroCells office in Stockholm. Airlangga University, one of the oldest medical schools in Indonesia, and Dr. Soetomo General Hospital, the largest teaching hospital in Eastern Indonesia, both have centers for Tropical Disease and Cancer research.

Interim report January 1st – March 31st, 2024 (Link)

Nedan redovisas de väsentliga beslut som fattades vid AroCells årsstämma tidigare idag den 22 maj 2024. Stämman hölls i Wigge & Partners Advokat KB:s lokaler i Stockholm samt genom poströstning. Samtliga beslut fattades i överensstämmelse med styrelsens och valberedningens förslag såsom de presenterats i kallelsen till årsstämman.

Fastställande av balans- och resultaträkning

Stämman beslutade att fastställa resultaträkningen och balansräkningen för räkenskapsåret 2023.

Utdelning

Stämman beslutade att inte lämna någon vinstutdelning för räkenskapsåret 2023 och att ansamlad förlust om
-209 105 346 SEK samt överkursfond om 441 007 028 SEK balanseras i ny räkning.

Ansvarsfrihet

Styrelseledamöterna och verkställande direktören beviljades ansvarsfrihet för räkenskapsåret 2023.

Val av styrelseledamöter och revisor

Stämman beslutade om omval av Eva Nordström, Max Pihlqvist, Agneta Tufvesson Alm och Clas Runnberg samt om nyval av Fredrik Lindgren till styrelseledamöter. Charlotta Ljungqvist och Johan Häggblad har avböjt omval.

Stämman beslutade därtill om nyval av Max Pihlqvist till styrelseordförande.

Stämman beslutade om omval av det registrerade revisionsbolaget Öhrlings PricewaterhouseCoopers AB till bolagets revisor. Öhrlings PricewaterhouseCoopers AB har meddelat att den auktoriserade revisorn Sara Wallinder kommer att vara huvudansvarig revisor.

Arvode till styrelseledamöter och revisor

Stämman beslutade att arvode ska utgå med 250 000 kronor till styrelsens ordförande och med 150 000 kronor vardera till övriga styrelseledamöter. Stämman beslutade att arvode till revisor ska utgå enligt godkänd räkning.

Bemyndigande för styrelsen att emittera aktier, konvertibler eller teckningsoptioner

Stämman beslutade att bemyndiga styrelsen att, vid ett eller flera tillfällen före nästa årsstämma, med eller utan avvikelse från aktieägarnas företrädesrätt, besluta om nyemission av aktier eller emission av konvertibler eller teckningsoptioner. Emission ska kunna ske mot kontant betalning, apport eller kvittning eller i övrigt på marknadsmässiga villkor som styrelsen bestämmer. Om styrelsen beslutar om emission utan företrädesrätt för aktieägarna så ska skälet vara att kunna bredda ägarkretsen, anskaffa eller möjliggöra anskaffning av rörelsekapital, öka likviditeten i aktien, genomföra företagsförvärv eller anskaffa eller möjliggöra anskaffning av kapital för företagsförvärv. Vid beslut om emissioner utan företrädesrätt för aktieägarna ska teckningskursen vara marknadsmässig vid tidpunkten för emissionsbeslutet. Antalet aktier, konvertibler eller teckningsoptioner som ska kunna ges ut med stöd av detta bemyndigande genom emissioner med företrädesrätt för aktieägarna ska rymmas inom gränserna för antalet aktier och aktiekapital i bolagsordningen. Antalet aktier, konvertibler eller teckningsoptioner som ska kunna ges ut med stöd av detta bemyndigande genom emissioner utan företrädesrätt för aktieägarna ska vara begränsat på så sätt att antalet aktier efter fulltecknad nyemission, fullt utnyttjande av teckningsoptioner eller full konvertering, inte ökar med mer än 20 procent av vid tidpunkten för denna kallelse utestående aktier.

Styrelsen föreslår att styrelsens ordförande och verkställande direktören bemyndigas att vidta de smärre justeringar som kan visa sig erforderliga för registrering av beslutet.

CEO’s statement

“The year 2024 started successfully with solid sales in the first quarter and continued strong order intake for the coming quarter. Production is operating at high speed ensuring that deliveries progress well. Financial results look promising and we are following our strategic plan towards profitability. Excluding goodwill amortization, the period’s result was -600 KSEK and we achieved a positive EBITDA of nearly 600 KSEK, which feels reassuring.”

Anders Hultman, CEO

Reporting period January 1st – March 31st

• Net sales amounted to KSEK 12,803 (11,053).
• Profit after financial items amounted to KSEK -10,505 (-13,668)*.
• Cash flow from operating activities for the period amounted to KSEK -4,214 (-4,522).
• Earnings per share before and after dilution amounted to SEK -0.05 (-0.06).
• Cash and cash equivalents at the end of the period amounted to KSEK 46,347 (59,956).

* Includes costs for goodwill amortization of KSEK 9,895 (9,895) for the quarter.

Events during the period January 1st – March 31st

• A recently conducted study has shown that levels of serum thymidine kinase 1 (sTK1) can predict the survival of patients with metastatic prostate cancer. The study also indicates that sTK1 is useful for predicting which patients may benefit from chemotherapy with the drug docetaxel, instead of hormonal treatment.

• AroCell has previously announced that it has entered into a distribution agreement with Sub-Saharan Biomedical P.L.C. for the sale of TUBEX® TF in Ethiopia. After working through the local regulatory process, AroCell has now obtained regulatory approval for TUBEX® TF in Ethiopia.

• Ellen Dittberner, CFO of AroCell, has taken maternity leave, and Lars Jakobsson has assumed the role of acting CFO.

• Two abstracts regarding the clinical applications of AroCell TK 210 ELISA have been accepted for poster presentations at AACR 2024.

• A new study examining the use of urine-based biomarkers, including UBC Rapid, for monitoring patients with high-risk non-muscle-invasive bladder cancer has been published.

• The Nomination Committee has presented proposals for the board of directors at AroCell for the Annual General Meeting 2024, where Max Pihlqvist is proposed as the chairman of the board and Fredrik Lindgren is proposed for election as a new board member.

Events after the period

• AroCell published the Annual Report for 2023.

• A new patent was approved in the USA. The patent demonstrated the clinical significance of TK1 protein measurements in serum with specific antibodies against the C-terminal region of TK1 in cancer.

• AroCell published the notice for the Annual General Meeting in 2024.

Interim report January 1st – March 31st, 2024 (Link)

Aktieägare i AroCell AB (publ) (”Bolaget”), org.nr 556596-6107, kallas till årsstämma den 22 maj 2024 klockan 11.30 i Wigge & Partners Advokat KB:s lokaler på Birger Jarlsgatan 25, tredje våningen, i Stockholm. Registrering till stämman startar klockan 11.00. Styrelsen har beslutat att aktieägare även ska kunna utöva sin rösträtt per post före stämman i enlighet med Bolagets bolagsordning.

Anmälan

Aktieägare som önskar delta på stämman ska:

Anmälan skickas med post till Computershare AB (publ), ”AroCells årsstämma 2024”, Box 5267, 102 46 Stockholm, eller e-post till proxy@computershare.se. Vid anmälan ska uppges namn, person- eller organisationsnummer, adress, telefonnummer och antal eventuella biträden (högst två).

Förvaltarregistrerade aktier
För att ha rätt att delta i stämman måste aktieägare som låtit förvaltarregistrera sina aktier, förutom att poströsta eller anmäla sig till stämman, låta registrera aktierna i eget namn så att de blir upptagna i framställningen av aktieboken per den 14 maj 2024. En sådan registrering kan vara tillfällig (s.k. rösträttsregistrering) och begärs hos förvaltaren enligt förvaltarens rutiner i sådan tid i förväg som förvaltaren bestämmer. Rösträttsregistrering som gjorts av förvaltaren senast den 16 maj 2024 kommer att beaktas vid framställningen av aktieboken.

Poströstning
För poströstning ska ett särskilt formulär användas. Poströstningsformuläret finns tillgängligt på Bolagets webbplats, www.arocell.com, och på Bolagets kontor Karlsbodavägen 39, 168 67 Bromma. Ifyllt och undertecknat poströstningsformulär ska skickas med post till Computershare AB (publ), ”AroCells årsstämma 2024”, Box 5267, 102 46 Stockholm, eller e-post till proxy@computershare.se. Komplett formulär ska vara Computershare tillhanda senast den 16 maj 2024. Aktieägare som är fysiska personer kan även poströsta elektroniskt genom verifiering med BankID via Bolagets webbplats, senast den 16 maj 2024. Aktieägaren får inte förse poströsten med särskilda instruktioner eller villkor. Om så sker är hela poströsten ogiltig. Ytterligare anvisningar och villkor framgår av poströstningsformuläret.

Fullmakter
Aktieägare som företräds av ombud ska utfärda en skriftlig och daterad fullmakt undertecknad av aktieägaren för ombudet. Fullmakten får inte vara äldre än ett år, om inte längre tid anges i fullmakten (högst fem år). Fullmaktsformuläret finns tillgängligt på Bolagets webbplats, www.arocell.com. Utfärdas fullmakten av en juridisk person ska registreringsbevis eller motsvarande behörighetshandling bifogas. Fullmakt och eventuella behörighetshandling ska skickas till Computershare AB (publ), ”AroCells årsstämma 2024”, Box 5267, 102 46 Stockholm, eller e-post till proxy@computershare.se, senast den 16 maj 2024.

Aktier och röster
Per kallelsens datum finns 230 361 066 aktier och röster i Bolaget, varav inga innehas av Bolaget.

Upplysningar till aktieägare
Styrelsen och verkställande direktören ska på stämman, om någon aktieägare begär det och styrelsen anser att det kan ske utan väsentlig skada för Bolaget, lämna upplysningar dels om förhållanden som kan inverka på bedömningen av ett ärende på dagordningen, dels om förhållanden som kan inverka på Bolagets eller dess dotterbolags ekonomiska situation.

Förslag till dagordning

1. Stämmans öppnande
2. Val av ordförande vid stämman
3. Upprättande och godkännande av röstlängd
4. Val av en eller två justeringspersoner
5. Prövning av om stämman blivit behörigen sammankallad
6. Godkännande av dagordningen
7. Framläggande av
   1. årsredovisningen för räkenskapsåret 2023
   2. revisionsberättelsen för räkenskapsåret 2023.
8. Beslut om
   1. fastställande av resultaträkningen och balansräkningen för räkenskapsåret 2023,
   2. dispositioner beträffande Bolagets vinst eller förlust enligt den fastställda balansräkningen, och
   3. ansvarsfrihet åt styrelseledamöter och verkställande direktören.
9. Fastställande av arvoden till styrelsen och revisorn
10. Fastställande av antal styrelseledamöter och revisorer
11. Val till styrelsen
12. Val till styrelseordförande
13. Val av revisor
14. Beslut om bemyndigande för styrelsen att emittera aktier, konvertibler eller teckningsoptioner
15. Stämmans avslutande

Beslutsförslag

2. Val av ordförande vid stämman
Valberedningen föreslår advokat Henrik Fritz som ordförande vid årsstämman, eller vid förhinder för denne, den som styrelsen i stället anvisar.

8 b. Beslut om dispositioner beträffande Bolagets vinst eller förlust enligt den fastställda balansräkningen
Styrelsen föreslår att bolagsstämman beslutar att ansamlad förlust om -209 105 346 SEK samt överkursfond om 441 007 028 SEK balanseras i ny räkning.

9. Fastställande av arvoden till styrelsen och revisorn
Valberedningen föreslår, för tiden intill slutet av nästa årsstämma, arvoden på årsbasis enligt följande och nedan:

• 250 000 (250 000) SEK till styrelsens ordförande.
• 150 000 (150 000) SEK till var och en av de övriga styrelseledamöterna

Valberedningen föreslår att arvode till revisorn som tidigare ska utgå enligt godkänd räkning.

10. Fastställande av antal styrelseledamöter och revisorer
Valberedningen föreslår att antalet styrelseledamöter som ska utses av stämman ska vara fem (5) utan styrelsesuppleanter och att antalet revisorer ska vara en (1) revisor utan suppleanter.

11. Val till styrelsen
Valberedningen föreslår, för tiden intill slutet av nästa årsstämma, omval av Eva Nordström, Max Pihlqvist, Agneta Tufvesson Alm och Clas Runnberg samt nyval av Fredrik Lindgren.

Johan Häggblad och Charlotta Ljungqvist har avböjt omval.

Samtliga styrelseledamöter anses oberoende i förhållande till Bolaget och bolagsledningen och Bolagets större ägare, förutom Max Pihlqvist som inte är oberoende i förhållande till Bolagets större aktieägare.

12. Val till styrelseordförande
Valberedningen föreslår, för tiden intill slutet av nästa årsstämma, nyval av Max Pihlqvist till styrelseordförande.

13. Val av revisor
Valberedningen föreslår i enlighet med styrelsens rekommendation att årsstämman för tiden intill slutet av nästa årsstämma omväljer det registrerade revisionsbolaget Öhrlings PricewaterhouseCoopers till Bolagets revisor. För det fall Öhrlings PricewaterhouseCoopers väljs till Bolagets revisor har det meddelats att auktoriserade revisorn Sara Wallinder kommer vara huvudansvarig revisor.

14. Beslut om bemyndigande för styrelsen att emittera aktier, konvertibler eller teckningsoptioner
Styrelsen föreslår att årsstämman bemyndigar styrelsen att, vid ett eller flera tillfällen före nästa årsstämma, med eller utan avvikelse från aktieägarnas företrädesrätt, besluta om nyemission av aktier eller emission av konvertibler eller teckningsoptioner. Emission ska kunna ske mot kontant betalning, apport eller kvittning eller i övrigt på marknadsmässiga villkor som styrelsen bestämmer. Om styrelsen beslutar om emission utan företrädesrätt för aktieägarna så ska skälet vara att kunna bredda ägarkretsen, anskaffa eller möjliggöra anskaffning av rörelsekapital, öka likviditeten i aktien, genomföra företagsförvärv eller anskaffa eller möjliggöra anskaffning av kapital för företagsförvärv. Vid beslut om emissioner utan företrädesrätt för aktieägarna ska teckningskursen vara marknadsmässig vid tidpunkten för emissionsbeslutet. Antalet aktier, konvertibler eller teckningsoptioner som ska kunna ges ut med stöd av detta bemyndigande genom emissioner med företrädesrätt för aktieägarna ska rymmas inom gränserna för antalet aktier och aktiekapital i bolagsordningen. Antalet aktier, konvertibler eller teckningsoptioner som ska kunna ges ut med stöd av detta bemyndigande genom emissioner utan företrädesrätt för aktieägarna ska vara begränsat på så sätt att antalet aktier efter fulltecknad nyemission, fullt utnyttjande av teckningsoptioner eller full konvertering, inte ökar med mer än 20 procent av vid tidpunkten för denna kallelse utestående aktier.

Styrelsen föreslår att styrelsens ordförande och verkställande direktören bemyndigas att vidta de smärre justeringar som kan visa sig erforderliga för registrering av beslutet.

Valberedning
Valberedningen har bestått av Christian Lindgren (Agartha AB), Clas Runnberg (Labbex Förvaltnings AB) och Jon Eiken. Christian Lindgren har varit valberedningens ordförande.

Majoritetsregler
För beslut i enlighet med styrelsens förslag enligt punkten 14 krävs att aktieägare med minst två tredjedelar av såväl de avgivna rösterna som de vid stämman företrädda aktierna biträder besluten.

Ytterligare information
Styrelsens fullständiga beslutsförslag, valberedningens fullständiga förslag och motiverade yttrande samt årsredovisningen och revisionsberättelsen framläggs genom att de hålls tillgängliga på Bolagets webbplats, www.arocell.com, och på Bolagets kontor på Karlsbodavägen 39 i Bromma. Kopior av ovan nämnda handlingar skickas genast och utan kostnad till aktieägare som begär det och uppger sin postadress. Bolagsstämmoaktieboken hålls också tillgänglig på Bolagets kontor.

Behandling av personuppgifter
För information om behandlingen av personuppgifter se www.computershare.com/se/gm-gdpr och www.euroclear.com/sweden/sv/regelverk/GDPR.html.

* * * * * * *

Stockholm i april 2024
AroCell AB (publ)
Styrelsen

The patent is one of AroCell's early patents that demonstrated the clinical significance of serum TK1 protein measurements using the specific antibodies against the C-terminal region of TK1 in cancer. This patent extends a previously approved European patent with the number EP 1,627,230 B1. The new patent is now valid until 2034.

The annual report is available on the following link: www.arocell.com/investors/financial-reports/
 

Fredrik Lindgren has over 25 years of experience in the Life Science sector, where he has served as a CEO or board member in more than 10 different companies. He served as the Managing Director at Larodan AB until 2023, and previously, he held the role as CEO at Karo Pharma AB and Biolin Scientific AB. Fredrik holds a law degree from Lund University and an eMBA from Stockholm School of Business.

The nomination committee´s proposal for the board at the AGM is the re-election of Eva Nordström, Agneta Tufvesson Alm, Clas Runnberg, and Max Pihlqvist, and the new election of Fredrik Lindgren.

The Nomination Committee proposes the new election of Max Pihlqvist as the Chairman of the Board.

AroCells Nomination Committee consists of:
Christian Lindgren (Chairman)
Clas Runnberg
Jon Eiken

Natalya Benderska-Söder, Thorsten Ecke, et al. conducted a retrospective simulated study in which they compared the recommended follow-up for patients previously diagnosed with high-risk non-muscle invasive bladder cancer to five alternative techniques incorporating multiple biomarkers.
 
The current strategy for follow-up of these patients consists of four visits in the first year. In these patients estimated sensitivity was 91.7% with an average of 25.9 cystoscopies performed to detect a recurring tumor. However, in this new study including UBC Rapid, annual sensitivity increased to 95.7% and 93.7%. Furthermore, when compared to current procedures, the average number of cystoscopies necessary to detect a reoccurring tumor was reduced by 39.2% and 73.5%.
 
The study demonstrates that changing the follow-up strategy to include UBC Rapid can safely reduce the number of cystoscopies required for the patient. However, further randomized controlled trials are required to validate these encouraging results. UBC Rapid was evaluated using data from 1877 patients and earlier research conducted by Professor Thorsten Ecke.

"In recent years, there has been a notable increase in the acceptance of biomarkers, especially among leading authorities such as the EAU. Benderska-Söder's publication takes a bold stride by questioning the current guidelines, which unfortunately do not include the use of biomarkers. Simultaneously, there is a pressing need to alleviate the burden on healthcare systems, and this publication highlights that our product, UBC Rapid, can meet this demand with exceptional performance,” says Marie Torstensson, CMO at AroCell.

Link to the article:
https://www.sciencedirect.com/science/article/abs/pii/S1078143924000413

One of the abstracts is on the prognostic value of serum TK1 protein levels in Diffuse large B cell lymphoma (DLBCL) patients treated with a combination therapy called R-CHOP.
Below is the link for the full abstract:
https://www.abstractsonline.com/pp8/#!/20272/presentation/1871
 
The other abstract is on serum TK1 protein concentrations as a predictive marker for castration resistance in metastatic prostate cancer.
Below is the link for the abstract:
https://www.abstractsonline.com/pp8/#!/20272/presentation/11593

A word from the CEO
”2023 has proven to be a successful year for AroCell. We have observed consistent strong demand in both our bacteriology and oncology segments, with sales in these areas reaching record levels. We have significantly increased our collaboration in automation and are on the verge of introducing several biomarkers onto automated platforms in China.
 
Several studies were completed throughout the year that helped improve our products market standing. We have optimized our organization, and with a rise in product demand, we are now closer to achieving positive cash flow. We are experiencing ongoing, consistent growth and a rising order intake that we are now able to manage effectively. I am eagerly anticipating further growth in 2024.
 
Nevertheless, the fourth quarter of 2023 could have been more successful. Some sales from the end of last year were delayed to 2024 due to issues with subcontractors and transportation. These delays caused a potential loss in turnover of 4 MSEK in 2023. However, of this, 2 MSEK has been recovered in January 2024.”
 
Anders Hultman, CEO
 
Reporting period October 1st – December 31st
· Net sales amounted to KSEK 9,511 (12,471).
· Profit after financial items amounted to KSEK -17,136 (-16,520)*.
· Cash flow from operating activities for the period amounted to KSEK -912 (-2,321).
· Earnings per share before and after dilution amounted to SEK -0.07 (-0.07).
· Cash and cash equivalents at the end of the period amounted to KSEK 50,723 (65,189).

* Includes costs for goodwill amortization of KSEK 9,895 (9,895) for the quarter.
 
Reporting period January 1st – December 31st
· Net sales amounted to KSEK 43,039 (36,986).
· Profit after financial items amounted to KSEK -59,297 (-59,299)*.
· Cash flow from operating activities for the period amounted to KSEK -13,436 (-13,694).
· Earnings per share before and after dilution amounted to SEK -0.26 (-0.28).
· Cash and cash equivalents at the end of the period amounted to KSEK 50,723 (65,189).

* Includes costs for goodwill amortization of KSEK 39,578 (39,578) for the period.
 
Events during the period October 1st – December 31st
· After the conclusion of the period, the warrant program has been implemented. The total number of warrants issued is 5,000,000, with a premium of 0.05 öre. The program has a duration of 3 years and is allocated among various groups, including the CEO, management team, other executives, and other employees. The strike price has been set at SEK 1, and the warrants are subscribed on market terms.

· AroCell presented information on the nomination committee’s proposal prior to the 2024 annual general meeting.
 
Events after the period
· A recent study has shown that serum thymidine kinase 1 (sTK1) levels can predict the survival of patients with metastatic prostate cancer. The results also suggest that sTK1 is useful in predicting which patients may benefit from chemotherapy with the drug docetaxel instead of a hormonal treatment. 

· Previously, AroCell announced a distribution agreement with Sub-Saharan Biomedical P.L.C. for the sales of TUBEX® TF in Ethiopia. After navigating through the local regulatory process, AroCell has now obtained regulatory approval for TUBEX® TF in Ethiopia. 

· Ellen Dittberner, who serves as the CFO at AroCell, is currently on parental leave, and Lars Jakobsson has stepped in as the acting CFO.
 
Interim report January 1st – December 31st, 2023 (Link)

Ellen Dittberner will be on parental leave from her position as Chief Financial Officer (CFO) at AroCell AB starting on February 1, 2024. During this period, Lars Jakobsson will serve as the acting CFO. Lars has previously held the position of CFO at IDL Biotech and AroCell AB from 2017 to 2022.

Attaining regulatory approval is a challenging process but provides a competitive advantage once obtained. 
 
After its launch in Africa, AroCell has focused on finding suitable distribution partners. The company has previously announced that it has signed agreements with distributors in Uganda, Ghana, and Kenya among others. These agreements involve the sale of the company's rapid test TUBEX® TF for typhoid fever.
 
"Ethiopia is a large country with 120 million inhabitants and a potentially important market for TUBEX® TF. It is gratifying that we have now accomplished the regulatory work," says Gunnar Wahlberg, Sales Manager for rapid tests at AroCell.
 

The results of the study show that sTK1 levels were elevated in the blood of patients with metastatic prostate cancer, including both newly diagnosed patients and patients with castration-resistant disease. Importantly, a strong association between elevated sTK1 levels and patient survival was observed. Thus, patients with elevated sTK1 had an approximately 3-fold higher risk for an adverse outcome compared to patients with lower levels of sTK1. The association between sTK1 and poor survival remained significant in multivariate analyses including adjustment for Gleason score, PSA level, and clinical T-stage. sTK1 therefore contributes important clinical information not obtained using other markers.

The association between elevated sTK1 levels and poor survival was particularly strong in prostate cancer patients treated with antihormonal drugs. In contrast, a more favorable outcome was observed when patients with high sTK1 levels were treated with docetaxel chemotherapy. Docetaxel is known to target proliferating cells and the results suggest that the proliferation-associated marker sTK1 can be used to identify tumors that are sensitive to this drug.
 
The results of the study has been submitted and accepted as an abstract for a presentation at the PAMM/EORTC conference in February. The study was performed in collaboration with Tampere University, the Medical University of Vienna, and the Semmelweis University in Budapest.
 
“We are very pleased with these results, which confirm previous findings showing that AroCell's TK 210 test can be used to predict the prognosis of patients with metastatic prostate cancer. The results also raise the possibility of using the TK 210 test for the selection of patients for different treatment options,” says Anders Hultman, CEO of AroCell.