NOTICE OF ANNUAL GENERAL MEETING OF SENZAGEN AB (Publ)

The shareholders of SenzaGen AB (Publ.), company registration number 556821–9207, (“the Company”) are hereby given notice of the annual general meeting (“AGM”) on 15 May 2024 at 3 PM in The Spark Sharience, Medicon Village, Scheeletorget 1, Lund, Sweden.

The meeting will be held in Swedish.

Eligibility to attend the AGM and notice of attendance
Shareholders wishing to attend the AGM must be registered in the share register kept by Euroclear Sweden AB on the record date, Monday 6 May 2024.

Shareholders must also give notice of their attendance and that of any proxies (max two) by Thursday, 9 May 2024 by mail to SenzaGen AB, Medicon Village, 223 81 Lund, Sweden, or by email to anmalan@senzagen.com. The notice of attendance must include the full name, personal or company registration number, address, phone number and, if applicable, information about proxies or other representatives. If applicable, the notice of attendance should be followed by a proxy document, a certificate of registration and other documentation.

Nominee shares
Shareholders who have their shares held in custody with a bank or some other nominee must have their nominee temporarily register the shares in their own name to be eligible to attend the AGM. Such registration, which normally takes a couple days, must be complete by Monday, 6 May 2024. Therefore, shareholders must request this registration from their nominee well in advance of this date. Registration of voting rights that has been requested by shareholders at such a time that the registration has been made by the relevant nominee no later than Wednesday, 8 May 2024 will be taken into account in the production of the share register.

Proxies
Shareholders represented by proxy must grant a written and dated proxy document to the designated proxy. If the proxy was granted by a legal entity, a certified true copy of the entity's certificate of registration, or equivalent documentation proving that those who signed the proxy are authorized signatories for the legal entity, must be enclosed with the proxy. If the proxy specifically states a term of validity, this term is not permitted to exceed five years. If no term of validity is stated, the proxy will be valid for no more than one year. A copy of the proxy and, if applicable, the certificate of registration should be sent to the Company's address above well in advance of the AGM. The original proxy and the certificate of registration must also be presented at the AGM. A proxy form will be available on the Company’s website, www.senzagen.com.

Proposed agenda

  1. Opening of the meeting and election of AGM chairman
  2. Preparation and approval of the voting register
  3. Election of one or more people to verify the minutes
  4. Check that the AGM has been duly convened
  5. Approval of agenda
  6. Address by the CEO
  7. Presentation of the annual report and auditor's report and of the consolidated financial statements and the auditor's report on the consolidated financial statements
  8. Resolutions to:
    1. Adopt the income statement and balance sheet and the consolidated income statement and consolidated balance sheet
    2. Appropriate the Company's profit or loss as per the adopted consolidated balance sheet
    3. Discharge the board of directors and CEO from liability
  9. Setting of the number of directors and auditors
  10. Setting of directors’ fees and auditor’s fees
  11. Election of directors and auditors
  12. Resolution on remuneration policies for senior executives
  13. Resolution to authorize the board to issue shares, stock options and/or convertibles
  14. Resolution on directed share issue of a maximum of 750,000 stock options
  15. Closing of the meeting

Proposed resolutions

Item 1:

Election of AGM chairman
The Nomination Committee proposes that Board Chairman Carl Borrebaeck be elected AGM chairman.

Item 8.b
Resolution to appropriate the Company's profit or loss as per the adopted consolidated balance sheet
The board proposes that all earnings at the disposal of the AGM be carried forward.

Items 9–11:
Setting of the number of directors and auditors; setting of directors’ fees and auditor’s fees; election of directors and auditors

The Nomination Committee’s proposals are as follows:

The Nomination Committee proposes that the board shall consist of five directors and no alternates. The number of auditors and the number of deputy auditors shall each be one.

The Nomination Committee proposes that the directors’ fees shall be SEK 200,000 (SEK 200,000 previous year) for each director elected by the AGM who is not employed by the Company and SEK 400,000 (SEK 400,000) for the board chairman, for a total amount of SEK 1,200,000 (SEK 1,200,000).

The Nomination Committee proposes that the auditor’s fees shall be payable on the basis of approved invoices.

The Nomination Committee proposes the re-election of Carl Borrebaeck, Ian Kimber, Ann-Christin Malmborg Hager, Paula Zeilon and Paul Yianni as directors.

It is also proposed that Carl Borrebaeck be re-elected as chairman of the board.

The Nomination Committee proposes the re-election of Authorized Public Accountant Mats-Åke Andersson as the Company’s auditor, with Authorized Public Accountant Martin Gustafsson as deputy auditor.

Information about the members proposed for re-election can be found on the Company's website www.senzagen.com.

Item 12:
Resolution on remuneration policies for senior executives
The board proposes that the AGM resolve to adopt the following policies for the remuneration of senior executives:

Scope
Senior executives are defined as the CEO and Group Management. These policies apply to employment agreements for senior executives entered into after approval of the policies by the AGM and to amendments to existing employment agreements for senior executives made thereafter. The board may deviate from the policies in individual cases in the event of special reasons. A special reason could be that a senior executive residing outside of Sweden must be offered terms that are competitive in the country in which they reside.

Fundamental principle and deliberation process for matters of remuneration
The fundamental principle of the policies is for the Group to offer remuneration on market terms in order to attract and retain proficient executives.

The board as a whole comprises the remuneration committee with the task of deliberating on the remuneration policies for senior executives that will be presented to the AGM for resolution. The board resolves on matters regarding the salary and employment conditions of the CEO.
In coordination with the board, the CEO resolves on the salary and employment conditions of the senior executives who report directly to the CEO.

Fixed salary
The fixed salary is adjusted annually and is based on the individual executive's expertise and area of responsibility.

Variable remuneration
The variable remuneration includes (a) an individual variable annual fee and may also include (b) a long-term incentive program as a complement.

(a) The individual variable annual fee can range from 8% to 25% of the fixed remuneration depending on the position. The ultimate amount payable depends on the degree of attainment primarily of set financial goals as well as qualitative goals to a limited extent.

(b) The long-term incentive program is intended to serve as a complement to the individual variable annual fee.

The board may deliberate on whether to propose share-related or share price-related programs for senior executives to the AGM.

Non-monetary remuneration
Subject to agreement with the Company's CEO, senior executives may be entitled to normal types of non-monetary remuneration, such as a company car and occupational health services.

Termination and severance pay
In the event of termination of a senior executive on the part of the Company, remuneration during the notice period and severance pay shall be no higher in amount than the equivalent of twelve (12) monthly salaries.

Fee for services that do not constitute board work
In individual cases, the Company’s directors shall be remunerable for services rendered in their respective area of expertise that do not constitute board work. These services shall be remunerated with a fee on market terms, which is subject to approval by the board and must be disclosed at the AGM.

The total amount of remuneration that has been or will be paid directly or indirectly by the Company to senior executives is disclosed in its entirety in the Company’s 2023 annual report, which is available on the Company’s website, www.senzagen.com.

Item 13: Resolution to authorize the board to issue shares, stock options and/or convertibles
To enable the board to raise working capital for the Company, and/or bring in new owners of strategic significance to the Company, and/or acquire other companies or businesses, the board proposes that the AGM resolve to authorize the board, for the period until the next AGM, with or without the shareholders’ preemptive rights waived, on one or more occasions, to decide to issue new shares, stock options and/or convertibles. The total number of shares that may be issued or, if convertibles or stock options are issued, added by way of conversion or exercise of rights under the authorization may not exceed 20 percent dilution of the number of outstanding shares in the Company after completed share issues under the authorization, based on the number of shares issued at the time of the AGM. The board shall also be entitled to resolve on whether new shares are payable in the form of cash, non-cash, offsetting, or in another manner consistent with the provisions of Chapter 2 Section 5 Paragraph 2 items 1-3 and 5 of the Swedish Companies Act.

To prevent the Company’s current shareholders from being disadvantaged in relation to external investors who could subscribe for shares in the Company, the board plans, by virtue of this authorization, to set the issue price on market terms (meaning that an issue discount on market terms may be provided) for issues with the shareholders’ preemptive rights waived. If found appropriate by the board to enable delivery of shares in conjunction with a share issue as set out above, a subscription price equal to the nominal (quotient) value of the shares can be used.

As a result, the maximum number of shares that may be issued is 6,047,081, and the Company’s share capital may be increased by a maximum of SEK 302,354.05.

The board, or those designated by the board, are proposed to be granted authorization to make adjustments as may be necessary in conjunction with registering the resolution with the Swedish Companies Registration Office (Bolagsverket).

Item 14: Resolution on directed share issue of a maximum of 750,000 stock options
The Company’s board proposes that the AGM resolve to issue a maximum of 750,000 stock options, as a result of which the Company’s share capital may increase by a maximum of SEK 37,500, with an exception for possible increases caused by recalculation in the event of share issues. The stock options will entitle the holder to subscribe for new shares in the Company.

The following rules shall apply to the directed share issue:

With the shareholders’ preemptive rights waived, employees of the Company and the Group shall be entitled to subscribe for the stock options as follows:

  • The Group CEO will be offered to subscribe for a maximum of 100,000 options.
  • Members of Group Management and key personnel comprising up to eight positions will each be offered to subscribe for a maximum of 50,000 options, altogether comprising a maximum of 375,000 options.
  • Other employees and consultants considered key personnel in the Group, comprising up to twenty-six individuals, will be offered to subscribe for between 5,000 and 25,000 options each, altogether comprising a maximum of 275,000 stock options.

Oversubscription cannot take place.

The stock options must be subscribed for by 1 June 2024 on a separate subscription list. The board shall be entitled to extend the subscription period but no later than until 1 November 2024.

The subscriber is entitled to subscribe for stock options free of charge. The market value of the option shall be calculated using the Black-Scholes pricing model subject to barrier conditions to calculate the Company’s social security expenses. The valuation of the options shall be performed by an independent valuation institute or auditing firm. A preliminary calculation (7 March 2024) based on an exercise price and barrier conditions at the time of exercising the stock options of SEK 6.00 per share results in an option value of SEK 1.20.

The stock options allotted will be offered for subscription free of charge. Such an offer to allot stock options must be provided within 10 banking days of the date a resolution to allot options has been passed.

Each stock option entitles the holder to subscribe for one new share in the Company in exchange for cash payment, provided that the barrier conditions have been met, during the period from 1 June 2027 to 30 September 2027 or the earlier date set out in the option rules. However, the stock options shall be exercisable at an earlier point in time in the event of a merger, compulsory redemption, liquidation, or similar circumstances.

Payment for shares subscribed for by exercising stock options shall be made in cash at an exercise price of 100% of the average of the listed volume-weighted price paid for each trading day as per Nasdaq First North Growth Market’s official price list for shares in the Company during the period from 29 April 2024 to 14 May 2024. The exercise price established in this manner shall be rounded to the nearest whole tenth in SEK öre, with SEK 5 öre rounded down.

For each individual participant in the stock option plan, 80 percent of all allotted stock options are subject to barrier conditions, and these 80 percent of the stock options can only be exercised to subscribe for shares once the volume-weighted price paid measured per trading day as per the Nasdaq First North Growth Market’s official price list for shares is higher than the respective barrier level.

The barrier levels are calculated as a percentage of the average volume-weighted price as per the Nasdaq First North Growth Market’s official price list for shares in the Company during the period from 29 April 2024 to 14 May 2024 (“the Barrier Price”).

The barrier levels shall consist of two barriers, with the first barrier accounting for 25 percent (“Barrier 1”) and the second barrier accounting for 55 percent (“Barrier 2”) of all the stock options allotted to participants, in accordance with what is set out below.

  • Barrier 1: 25 percent of the stock options are subject to Barrier 1 and the barrier is calculated at 158 percent of the Barrier Price.

  • Barrier 2: 55 percent of the stock options are subject to Barrier 2 and the barrier is calculated at 300 percent of the Barrier Price.

Barrier 1 and Barrier 2 established in this manner shall be rounded to the nearest whole tenth in SEK öre, with SEK 5 öre rounded down. The barriers shall be recalculated in the same way as for the redemption price in the option rules.

New shares subscribed for by exercising Stock options entitle the holder to dividends for the first time on the dividend record date most immediately following the date the new share issue was registered with the Swedish Companies Registration Office and Euroclear Sweden AB.

The purpose of the share issue and the reason for waiving shareholders’ preemptive rights is to implement an option program suited for allotment to key personnel in the Company so that they can be offered the opportunity to participate in the growth in value of the Company’s stock. This is expected to lead to stronger interest in the Company’s growth – as well as the Company’s share price performance – and stimulate continued company loyalty over the coming years.

In conjunction with the transfer of the stock options to the participants in the program, the Company reserves the right to buy back all stock options if the participant’s employment is terminated or if the participant wishes to transfer the stock options to another party during the period until 31 May 2027.

The complete rules for the stock options will be kept available on the Company’s premises and on the Company’s website no later than two (2) weeks prior to the AGM. These rules include that the exercise price and the number of shares to which a stock options entitles the holder to subscribe for may be recalculated in certain cases.

It is proposed that the board or those designated by the board be authorized to make minor adjustments to this resolution as may be necessary in conjunction with registration with the Swedish Companies Registration Office and, if applicable, with Euroclear Sweden AB.

Deliberation on the board’s proposed 2024/2027 incentive program, the costs of the program, other outstanding stock-based incentive programs, dilution
The proposed agenda item 14 has been deliberated on by the board in consultation with external advisers.

Valuation
The stock options shall be subscribed free of charge, which means that social security expenses for the Group may be incurred in conjunction with subscriptions for stock options. According to a preliminary valuation based on a market value of the underlying stock of SEK 5.98, the market value of the stock option is SEK 1.20 per option with a redemption price of 6.00 per share in the 2024/2027 program. The Black-Scholes pricing model has been used for this valuation on the assumption of a risk-free 2.519% interest rate and 46.4% volatility and taking into account that no dividend or other transfers of value to shareholders are expected to occur during the program’s term.

Expenses and impact on financial ratios
Given that the stock options are issued free of charge, the Company estimates that fringe benefits and social security expenses will be incurred for the participant and the Company as a result of the option program. The total expenses, including other expenses in the form of fees to external advisers and expenses for the administration of the program, are estimated at around SEK 100,000 over the program’s term and the cost of social security expenses is estimated at approximately SEK 231,795.

The total cost of social security contributions depends on the number of options that will be added and on the value of the benefit that the participant will eventually receive at the time of the allocation, but also in which countries the participants reside and what percentages apply to social security contributions in these countries. In cases where the participant resides in a country other than Sweden and is employed by another wholly-owned company in the Group (the “Employer Company”), both salary benefits and social security contributions may arise in the Employer Company when the option is exercised for the purchase of shares.

In the event of positive performance of the share price in conjunction with the exercise of the option, the option program will result in costs in the form of social security contributions for the Employer Company. Costs for social security contributions are estimated to amount to approximately SEK 0.6 million, assuming the allotment and exercise of 135,000 options, average social security contributions of 35 percent and an assumed share price of SEK 18.00 when the options are exercised.

The program is expected to have a marginal impact on the Company’s financial ratios.

Dilution
The total number of registered shares and votes at the time of this proposal is 24,188,325. The maximum dilutive effect of the 2024/2027 incentive program is estimated to be a maximum of approximately 3.0% of the total number of shares and votes in the Company (calculated based on the number of existing shares in the Company and taking into account other outstanding stock options), provided that all offered stock options are subscribed for and exercised.

There are currently several stock-based incentive programs outstanding in the Company, as below:

The 2021/2024 L series incentive program is for a maximum of 587,500 stock options, and 372,000 of which have been subscribed entitling the holder to subscribe for new shares at a price of SEK 14.30 from 1 June 2024 to 30 September 2024.

The 2022/2025 incentive program is for a maximum of 812,500 stock options, and 637,500 of which have been subscribed entitling the holder to subscribe for new shares at a price of SEK 9.60 from 1 June 2025 to 30 September 2025.

The 2023/2026 incentive program is for a maximum of 1,015,000 stock options, and 720,000 of which have been subscribed entitling the holder to subscribe for new shares at a price of SEK 11.20 from 1 June 2026 to 30 September 2026.

If all previously issued stock options and stock options issued in the 2024/2027 incentive program are exercised, the dilution may amount to a maximum of approximately 9.3 percent of the total number of shares and votes in the Company (calculated on the basis of the number of existing shares in the Company and taking into account other outstanding stock options).

Other outstanding stock-based incentive programs
For disclosures on the Company’s other stock-based incentive programs, please see the Company’s 2023 annual report. Apart from the programs disclosed there, the Company does not have any other stock-based incentive programs.

Majority requirement
Shareholders representing at least two thirds of both the votes cast and the shares represented at the AGM must vote for the resolution under item 13 for it to be deemed duly passed.

Shareholders representing at least nine tenths of both the votes cast and the shares represented at the AGM must vote for the resolution under item 14 for it to be deemed duly passed.

GENERAL INFORMATION

Number of shares and votes
The total number of shares in the Company at the date of this notice is 24,188,325 with the same number of votes. The Company does not hold any treasury shares.

Documents
Copies of the financial statements, auditor’s report and proxy form will be kept available at the Company’s premises at Medicon Village, Scheelevägen 2, Building 401, 223 81 Lund, Sweden, and on the Company’s website, www.senzagen.com no later than three (3) weeks prior to the AGM. Complete proposals and other documentation that must be made available under the Swedish Companies Act will be kept available in the locations above no later than two (2) weeks prior to the AGM. All of the aforementioned documents will be sent to those shareholders who so request and provide their email address or mailing address.

Shareholders are reminded of their right, at the AGM, to request disclosures from the board and CEO under Chapter 7 Section 32 of the Swedish Companies Act.

Personal data processing
For information on how your personal data is processed, please see the privacy policy available on Euroclear Sweden AB’s website: https://www.euroclear.com/dam/ESw/Legal/Integritetspolicy-bolagsstammor-svenska.pdf.

* * * * *

Lund, March 2024,
the Board of Directors of SenzaGen AB

SenzaGen’s chemical industry orders continue to increase

SenzaGen received another follow-up order from the same global chemicals leader that ordered tests earlier this year. Once again, the order includes testing with SenzaGen’s innovative non-animal skin sensitization test method, GARD®skin. The order is worth approximately SEK 0.8 million and the testing will be performed at the Company's GLP-certified lab in Lund during the first half of 2024.

This is the second order from this customer in a short period of time, following successful evaluation of GARD®skin in 2022–2023. The testing is linked to one of the company’s research and development projects aiming to assess whether new product candidates could potentially cause skin allergies.

“Our close relationships with major global companies are a sign of the Company’s position in the toxicology market and are decisive for our growth. This order is a testament to both our sales strategy and the growing trust we have earned from chemicals customers. GARD® has the capability to identify allergens in a group of chemicals that are very difficult to assess. This year, the customer has already ordered tests for more than SEK 2 million, and it is clear that they see unique advantages in how the test can meet their challenges. We look forward to continuing to work closely with the customer to ensure reliable results and contribute to safer and more ethical chemical industry products in the market”, says Peter Nählstedt, President and CEO, SenzaGen.

The GARD® test platform determines whether chemicals can cause allergies and targets companies looking to increase the accuracy of their test results and ensure product safety while avoiding animal studies. The unique platform combines genomic data from human cells with machine learning, making the method both more effective and more accurate than both traditional animal-based methods and other non-animal methods for this type of challenging chemicals.

SenzaGen’s Annual Report 2023 published

SenzaGen has today published its 2023 Annual Report. A digital copy can be downloaded at www.senzagen.com or read via the link below.

To request a printed copy, please email name and address to IR@senzagen.com.

SenzaGen presents and hosts a panel discussion at the SOT Annual Meeting & ToxExpo 2024

SenzaGen, which develops and sells non-animal chemical tests based on genomics and machine learning, announces today that the company will hold presentations and organize a round-table discussion at the SOT Annual Meeting & ToxExpo, the world's largest conference in toxicology, taking place in Salt Lake City, USA, from March 10 to 14, 2024.

The conference is organized by the American organization The Society of Toxicology and is expected to gather around 5,000 scientists and toxicologists from all over the world.

During the event, SenzaGen's team and collaborative partners will present the GARD® test platform for in vitro skin sensitization, emphasizing its broad applicability, relevance for medical devices, and ability to provide quantitative information about safe dose levels.

Moreover, SenzaGen will facilitate a panel discussion on the evolving trends in skin sensitization and in vitro testing. The expert panel will include representatives from L’Oréal, the American Research Institute for Fragrance Materials (RIFM), and the ISO working group for skin irritation and skin sensitization.

Scientific program

March 12, 9:00–10:00
Presentation and round-table discussion on new alternative methods (NAMs) and industry trends
Advancing NAMs for Skin Sensitization Testing: Medical Devices and Quantitative Potency Assessment

Expert Panel:

  • Dr Nathalie Alépée, Research Scientific Officer, L’Oréal Research & Innovation
  • Dr Isabelle Lee, Senior Scientist, Research Institute for Fragrance Materials, Inc. (RIFM)
  • Dr Christian Pellevoisin, Toxicologist, Urbilateria, Convenior of the WG8 skin irritation and sensitization of the ISO/TC194 for biocompatibility of medical devices
  • Dr Henrik Johansson, Chief Scientist, SenzaGen

March 11–12
Posters on GARD®
Spotlight on PoD, NESILs, product development and CE-marking of Medical Devices

Joint poster with L’Oréal
P739 #4190 | Improved Confidence of Quantitative Sensitizing Potency Assessment for Point of Departure Using GARD®skin Dose-Response

Joint poster with Sonova
P487 #3362 | Unveiling skin sensitizing potential: case studies on biocompatible material development utilizing the in vitro GARD®skin Medical Device assay

Joint poster with Duearity
P480 #3355 | Regulatory approval of medical devices according to MDR using in vitro data from GARD®skin Medical Device for skin sensitization assessment

Joint poster presented by RIFM
P318 #3205 | Determining a point of departure for skin sensitization potency and quantitative risk assessment of fragrance ingredients using the GARD®skin Dose-Response assay

Joint poster presented by IFF
P762 #4213 | A Next Generation Risk Assessment (NGRA) Framework to conduct Quantitative Risk Assessment (QRA2) to determine safe use levels of fragrance ingredients in cosmetic products

Joint poster presented by Inotiv
P738 #4189 | Testing of Regulatory-Relevant Chemicals for Skin and Respiratory Sensitization Hazard

Visit us at booth #732
Our team of GARD® experts will be on hand at booth #732 to engage in discussions and answer any inquiries regarding in vitro toxicology.

SOT webpage
For additional details on the conference, please refer to the official website of the 63rd SOT Annual Meeting & ToxExpo.

SenzaGen’s 2023 Year-End Report: Company approaching breakeven with SEK 50 million in sales

Message from the CEO

“We are pleased to report another successful year. We closed on a historically strong note with our best quarter ever. The high number of quotes that we sent out during the year proved successful, as our sales increased by 20% in the second half of the year. Total sales increased by 19% during the year, reaching nearly SEK 50 million, driven by strong demand for both our core platform, GARD®, and VitroScreen’s pre-clinical efficacy tests. In the second half of the year, we cut our loss in half and are now very close to breaking even. This shows that we are on track to reach the sales volumes and margins required for sustained profitable growth.”

Peter Nählstedt, President and CEO

Full year 1 January–31 December

  • Net sales totaled SEK 49.9 (41.8) million.
  • EBITDA amounted to SEK -10.9 (-15.7) million.
  • Earnings per share were SEK -0.91 (-1.03).
  • Cash and cash equivalents at 31 December amounted to SEK 17.6 (40.0) million.
  • The board proposes that no dividend be paid to the Company’s shareholders.

Second half year 1 July–31 December

  • Net sales totaled SEK 26.3 (21.8) million.
  • EBITDA amounted to SEK -4.1 (-6.6) million.
  • Earnings per share were SEK -0.40 (-0.47).

Significant events during the second half year

  • SenzaGen received a SEK 1.7 million order from a new customer, a global biotech industry leader.
  • SenzaGen secured a strategically important order from a new customer, a world leader in fast-moving consumer goods (FMCG).
  • SenzaGen continued to collaborate with RIFM in non-animal photosensitization and fragrance safety – receiving a new grant worth SEK 1.6 million.
  • SenzaGen was ranked one of Sweden's fastest-growing technology companies according to Deloitte's annual ranking, Sweden Technology Fast 50.
  • SenzaGen strengthened its market presence with expanded distribution channels in France and India.

Significant events after the end of the year

  • SenzaGen received a follow-on order worth SEK 1.5 million for GARD®skin from a customer in the chemical industry.

Livestream presentation
SenzaGen is pleased to invite press and investors to a livestream presentation at 10:00 today on February 14. The presentation will be given by SenzaGen’s President and CEO Peter Nählstedt, followed by a Q&A session. The presentation will be held in Swedish.

Time: Wednesday February 14, 10:00–11:00 CET.
Link to the livestream: https://ir.financialhearings.com/senzagen-year-end-report-2023

The presentation can be watched afterwards at SenzaGen’s website: https://senzagen.com/investors/presentations/

Invitation to the presentation of SenzaGen’s year-end report 2023 on Feb 14 at 10.00 CET

SenzaGen's 2023 year-end report will be published on February 14, 2024, at 08:30 CET and will be followed by a livestream presentation at 10:00 on the same day. The presentation will be given by SenzaGen’s President and CEO Peter Nählstedt, followed by a Q&A session.

The presentation will be held in Swedish.

Time: Wednesday February 14, 10:00–11:00 CET.
Link to the livestream: https://ir.financialhearings.com/senzagen-year-end-report-2023

The presentation can be watched afterwards at SenzaGen’s website: https://senzagen.com/investors/presentations/

SenzaGen receives a follow-up order worth 1.5 million SEK for GARD®skin for the chemical industry

SenzaGen has received a follow-up order worth 1.5 million SEK from a globally leading chemical company. The assignment includes testing with SenzaGen’s innovative non-animal skin sensitization test method, GARD®skin, covering both pure chemicals and complex formulations. Testing will commence immediately and is expected to be completed in the first quarter of 2024.

The customer has a global presence with its headquarters located in Europe. The new order is a result of a successful evaluation of GARD®skin during 2022–2023 and is associated with one of the company's research and development projects. With the testing, the company aims to investigate whether new product candidates could potentially cause skin allergies.

“Close customer relationships with major multinational companies are a cornerstone of our growth and innovation strategy. This success is evident in the fact that, following a successful evaluation of GARD®skin, the customer has now returned with a larger and more significant order. This follow-up order not only confirms the reliability and performance of the technology in the risk assessment of chemicals but also highlights that the method can handle complex mixtures, which is often challenging in traditional testing. In this area, we create entirely unique value for the customer”, says Peter Nählstedt, President and CEO of SenzaGen.

The GARD® platform determines whether chemicals can cause allergies and targets companies looking to increase the accuracy of their test results and ensure product safety while avoiding animal studies. The unique platform combines genomic data from human cells with machine learning, making the method more efficient and accurate than both traditional animal-based methods and other non-animal methods methods for this type of complex chemicals.

SenzaGen looks forward to working closely with the customer to ensure reliable results and contribute to safer and more ethical products in the chemical industry market.

SenzaGen secures SEK 1.7m order from a new global biotech industry leader

SenzaGen has been selected to test substances for yet another new global customer within the biotech industry. The assignment is valued at SEK 1.7 million and includes non-animal tests for skin sensitization, utilizing SenzaGen’s highly performing test platform, GARD®skin. The tests will be conducted at the company's GLP-certified laboratories in Lund and at the subsidiary, VitroScreen, in Milan during the fourth quarter of 2023 and the first quarter of 2024.

The customer is a global leader in biotech with a significant presence and research in various chemical areas. Through this testing, they aim to investigate whether their new product candidates can cause allergic reactions on the skin.

"Through this order, we further broaden our portfolio with another world player choosing us to replace animal experiments with more ethical methods. The acquisition of VitroScreen has strengthened our position in skin sensitization and now opens up new opportunities in the market. With our combined product portfolio, we offer our customers a comprehensive testing solution, providing them with fast and reliable test results for evaluating product candidates," says Peter Nählstedt, President and CEO of SenzaGen.

The core of SenzaGen’s business revolves around innovative tests and services within non-animal toxicology and efficacy testing. These innovations are based on the company's extensive expertise in various technology areas, including genomics, machine learning, and human 3D tissue models. By offering unique and groundbreaking innovations that are better suited to reflect human biological reactions, SenzaGen is driving progress away from animal testing.

SenzaGen changes its market maker to Carnegie

As a result of Carnegie Investment Bank's acquisition of business areas from Erik Penser Bank, SenzaGen has changed its market maker to Carnegie. The intention is to continue promoting liquidity in the SenzaGen stock.

In the role of market maker Carnegie undertakes to continuously provide bid and ask quotations in accordance with the requirements for liquidity providers set out by Nasdaq Stockholm. The purpose is to improve the liquidity of the share and reduce the spread between the buying and selling price. The assignment begins on November 30, 2023.

SenzaGen ranked one of Sweden’s fastest-growing technology companies

SenzaGen develops and sells non-animal chemical tests and is now one of Sweden's fastest-growing technology companies according to Deloitte's annual ranking, Sweden Technology Fast 50. Over the past four years, SenzaGen has had an average growth rate of 1433 percent. SenzaGen ranked 18th out of 50 companies on the list.

"Being ranked as one of Sweden's fastest-growing technology companies is evidence that our business model has yielded fantastic results and that what we do is perfectly timed. We are incredibly proud of how our innovations contribute both ethically and scientifically when we assist companies in transitioning away from animal testing while providing them with test results directly applicable to humans. As CEO, I feel immense pride in our team, which has delivered these results. They form the basis for this award and truly strengthen us on our continued growth journey," says Peter Nählstedt, President and CEO of SenzaGen.

The ranking in Sweden Technology Fast 50 is based on the growth in net revenue over the past four years.

"It feels fantastic to have been able to highlight Swedish entrepreneurship in the tech industry for 20 years through Sweden Technology Fast 50. This year's companies not only reflect Sweden's leading position in innovation but also some of the shifts we have seen in society in recent years, not least within GreenTech, where technical solutions are used to address climate change, and MedTech, where technology is used to strengthen healthcare. We are happy to celebrate the companies' success and look forward to following their journey, says Ester Sundström, partner at Deloitte and responsible for the Deloitte Sweden Technology Fast 50.

The 2023 ranking is being presented at an event at Nasdaq in Stockholm on November 9. Learn more about the award, its background, and more detailed criteria at www.deloitte.se/fast50.

SenzaGen leverages its extensive expertise in various technology areas, including genomics, machine learning, and human tissue models, to develop better and more ethical testing methods that can replace animal experiments in toxicological evaluations of chemicals.