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Acarix

First German sales

Update | Pharmaceutical & healthcare | 13 Jul 2017

Acarix has made its first sale in the crucial German market to a private cardiology clinic in Berlin. This follows the first sale in Denmark. Germany has a strong private healthcare insurance sector (about 10% of people covered), which might adopt quickly given that there are stated to be over one million hospital cardiac assessments each year, mostly unnecessary. Major German and EU sales will, however, have to wait for public reimbursement probably from 2019 onwards. US marketing will probably require a US clinical study, with sales from 2021 possible. The unchanged indicative value remains at SEK728m, equal to SEK31.62/share.

Acarix

Preparing for commercialisation

Update | Pharmaceutical & healthcare | 15 May 2017

Following the successful SEK140m IPO in December 2016, Acarix is commercialising its novel CE-marked CADScor System in Germany. CADScor is used as a frontline test by doctors to help assess a patient's risk of coronary artery disease (CAD) by “listening” to the blood flow in the coronary arteries. This can enable CAD to be ruled out, so avoiding expensive further testing. Full EU reimbursement may start in 2019. US marketing will probably require a US clinical study, with sales from 2021 possible. The unchanged indicative value remains at SEK728m, equal to SEK31.62/share.

Acarix

Cash raised to fuel European marketing

Initiation | Pharmaceutical & healthcare | 21 Dec 2016

Acarix has developed the CE-marked CADScor System to ‘hear’ and detect partially blocked coronary arteries. CADScor is designed to be used by doctors to help assess patients’ risk of coronary artery disease (CAD). This could enable about half of the patients to be ruled out from further, expensive testing. Acarix aims to sell CADScor from 2017 in Germany and Scandinavia. Full EU reimbursement may start in 2019. US marketing will probably require a US clinical study with sales from 2021 possible. The IPO at SEK17.60/share completed at a value of SEK405m in December 2016, raising SEK140m gross, SEK125m net. The indicative value is SEK31.62/share based on an indicative value of SEK728m.