2023-02-16 Regulatory

NeoDynamics' largest owner secures the launch of NeoNavia in the US

NeoDynamics AB (Nasdaq First North Growth Market Stockholm: NEOD.ST), a medical device company dedicated to advancing the diagnosis and care of cancer, today announced that the company's largest shareholder Gryningskust Holding AB is offering the company SEK 14 million in a loan that can be converted into shares in order to secure the launch of NeoNavia in the US.

NeoDynamics is ready to kick-start the planned launch of the NeoNavia system to clinics and potential partners in the United States. The company's largest shareholder Gryningskust Holding AB has strong faith in NeoDynamics as a long-term successful company in cancer diagnostics. Therefore, Gryningskust Holding AB offers NeoDynamics a loan of SEK 14 million, with a fixed interest rate of 8%, which is within the market price range considering other similar financing. The loan maturity date is August 15th, 2023.

The loan is intended to be converted into shares if the company issues new shares in the future. Conversion will then take place at the current exchange rate.

“I am extremely pleased that our principal owner has strong faith in NeoDynamics and the commercial opportunity we now face with NeoNavia in the important US market. Interest in the US is great for our innovative, ultrasound-guided system, which will be of significant value, both to those who are to be diagnosed with breast cancer and to their caregivers. Thanks to the support from Gryningskust Holding AB, we can now proceed with the launch without losing momentum,” said Anna Eriksrud, CEO of NeoDynamics.

“To us, NeoDynamics represents a long-term investment with great potential and NeoNavia's commercial breakthrough in the US is now very close after FDA clearance. Therefore, for us it is natural to support the company's launch in the US, and this loan is part of our continued commitment to NeoDynamics,” said Johan Thorell,  Gryningskust Holding AB’s CEO.

This disclosure contains information that NeoDynamics 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 16-02-2023 16:51 CET.