Regulatory press release

Prostatype Genomics: Activities and action plan to increase sales growth

Prostatype Genomics today presents measures to increase sales growth in prioritized European markets. In connection with this, expected turnover for 2022 and changes in the sales organization are presented.

During the year, Prostatype Genomics has focused on establishing market presence in priority European markets (Germany, Spain, Italy, Great Britain and Sweden).
"We have taken huge steps towards establishing ourselves in our priority markets and today we have extensive interactions with healthcare and decision makers in all these countries. It has taken slightly longer than we initially planned, as new and innovative tests and therapies provides healthcare with completely new opportunities, while initially challenging existing routines and established processes. This work has given us valuable knowledge about healthcare decision-making, the practical sales process and how to introduce our offer. We have now taken a series of actions to strengthen our ability to increase sales faster,” says Fredrik Persson, CEO at Prostatype Genomics.

Sales development

The practical and logistical challenges markets have resulted in a shift in the company's sales development. During the year, the company has noted a development where more and more clinics identify the patient benefit and seek ways to implement Prostatype® in clinical practice.

Currently, around 50 hospitals/medical units are evaluating Prostatype®. About 20 units have already evaluated the product with good clinical results and are preparing to introduce Prostatype® into clinical routine. In addition to this, we have a pipeline comprising 50 additional medical entities that are about to initiate evaluation of Prostatype®.

 "The clinical need for Prostatype® is clear in our active markets and we have great support from our customers, and we are moving forward. We are working in a strong momentum which will give clear results in the future,” continues Fredrik Persson.

Focused sales organization

To further strengthen the development, Prostatype Genomics is moving responsibility for the sales organization to Sweden, to ensure that the entire process takes place as uniformly and efficiently as possible.

"In connection with this, we have hired Mats Bergström as Sales Director EMEA. Mats has a long and solid experience from sales and introduction of new advanced Medtech products and will significantly strengthen our commercial ability. We have worked hard to identify and find solutions for the practical obstacles that exist and are now implementing the measures needed to put an effective structure in place where other skills are also called for. We are strengthening the capacity to simplify routines and shorten lead times so that routine use of Prostatype® is facilitated," says Fredrik Persson.

In summary, this means:

– Good clinical results and a strong pipeline of hospitals/medical units give us a strong base for further sales development in 2023 and beyond

–  Continued focus on, together with the local healthcare, increasing accessibility and enabling routine use of Prostatype® in a rapidly growing number of clinics

– Mats Bergström has been hired as Sales Director EMEA and operational responsibility is centralized to Sweden

–  Sales in 2022 are estimated to amount to SEK 700,000

The previously communicated establishment process in the US market continues according to schedule and the company will present further updates shortly.

This disclosure contains information that Prostatype Genomics AB is obliged to make public pursuant to the EU Market Abuse Regulation (EU nr 596/2014). The information was submitted for publication, through the agency of the contact person, on 07-11-2022 18:01 CET.