Implantica announces contribution of assets of EUR 117 million by the main shareholder to the capital reserves
Implantica AG (publ) today announces that it will accept a contribution of EUR 117 million of assets from Peter Forsell, the founder and main shareholder, without monetary compensation, but with plans to secure the contributor’s control of the company also in the future as it grows through a share split of the class B shares.
Implantica has accepted a contribution to the reserves consisting of a 51% interest in Peter Forsell’s privately-held company, MedicalTree Swiss AG, the entire company valued at EUR 229 million by one of the big four auditors. MedicalTree Swiss is a holding company with ongoing product development and a large patent portfolio comprising 15 product candidates in 4 treatment areas.
The portfolio includes a unique drug delivery system for chemotherapy for the treatment of cancer, which, with 19.3 million new cancer cases annually, is a market forecasted to grow to USD 74 billion by 2027. Chemotherapy is injected directly into blood vessels by inserting a plastic tube into a blood vessel in the hand or arm, oftentimes causing it to become clogged by blood clots after 2-3 days. MedicalTree has developed an implantable system that injects into the blood vessel from inside the body and does not cause blood clots since it is withdrawn between injections. A small injection needle will move to a new postion at the blood vessel wall for the next injection. This is expected to provide a simple, effective solution to bring much relief to cancer patients. This technology combined with Implantica’s eHealth platform will provide the next generation treatment, which is designed to be tailor-made to maximise treatment efficiency for cancer patients, dramatically reducing hospital stay as well as improving treatment at a significantly lower cost for society.
MedicalTree’s products complement those of the Implantica portfolio, and the objective is to incorporate drug delivery into Implantica’s expanding eHealth platform. Implantica will control the business of MedicalTree and may purchase Peter Forsell’s remaining interest at any time. In exchange for the contribution of assets, it has furthermore been agreed to perform a stock split of the class B shares, thereby allowing the main shareholder to maintain a voting majority also as the company grows, pending approval at an extraordinary general meeting of shareholders, which is scheduled for September 17, 2021. This stock split will have no economic impact on the shareholders.
Peter Forsell, CEO said, “The assets in MedicalTree include some incredibly high potential products, some of which also incorporate eHealth technology. By combining the MedicalTree products with the Implantica portfolio, development of the eHealth platform is anticipated to be expanded and accelerated, particularly given the opportune anticipated market timing of the chemotherapy drug delivery system. We expect to see synergies in two areas primarily: accelerated development of the platform technologies and go-to-market based on the Implantica sales force strategy of 25% specialist and 75% generalist sales representatives, selling products in multiple treatment areas.”
“Bringing all my inventions to Implantica with no payment or share compensation underscores my belief in the company. Since my focus strictly lies with Implantica, I wish to have all of my promising inventions in one company in order to continue to build the large entity we all believe Implantica will become. Such a growth journey will inevitably involve more transactions and acquisitions while developing Implantica’s large product portfolio. Therefore, in order to avoid that this journey is halted due to any potential takeover, my request is to perform a stock split in the class B shares, thereby maintaining my current large majority voting power at Implantica in the long-term. This will provide no economic benefit to myself nor have any economic impact on the shareholders,” said Peter Forsell, CEO.
For further information, please contact:
Nicole Pehrsson, Investor Relations
Telephone (CH): +41 (0)79 335 09 49
Implantica is listed on Nasdaq First North Premier Growth Market in Stockholm.
The company's Certified Adviser is FNCA Sweden AB, +46 (0)8 528 00 399, email@example.com
The information was sent for publication, through the agency of the contact person set out above, on August 17, 2021 at 17:20 CET.
Implantica is a medtech group dedicated to bringing advanced technology into the body. Implantica’s lead product, RefluxStop™, is a CE-marked implant for the prevention of gastroesophageal reflux that will potentially create a paradigm shift in anti-reflux treatment as supported by successful clinical trial results. Implantica also focuses on eHealth inside the body and has developed a broad, patent protected, product pipeline based partly on two platform technologies: an eHealth platform designed to monitor a broad range of health parameters, control treatment from inside the body and communicate to the caregiver on distance and a wireless energising platform designed to power remote controlled implants wirelessly through intact skin. Implantica is listed on Nasdaq First North Premier Growth Market (ticker: IMP A SDB). Visit www.implantica.com for further information.