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.

For further information, please contact:

Anna Eriksrud, CEO NeoDynamics AB, phone +46708 444 966 or e-mail anna.eriksrud@neodynamics.com

Aaron Wong, CFO NeoDynamics AB,  phone +46735 972 011 or e-mail aaron.wong@neodynamics.com

About NeoDynamics

NeoDynamics AB is a Swedish Medical Technology Company dedicated to advancing diagnosis and care of cancer. The company’s first product NeoNavia®, a new innovative pulse biopsy system for ultrasound-guided tissue sampling, is currently being introduced to the market. The biopsy system is built on a patented pulse technology, based on research at the Karolinska Institutet in Sweden. NeoNavia is evaluated for breast cancer diagnosis at leading clinics in Europe and will soon launch in the USA. NeoDynamic’s shares are listed on Nasdaq First North Growth Market Stockholm (ticker: NEOD). The company’s Certified Adviser is Redeye AB.

About NeoNavia

NeoNavia is a modern biopsy system with a completely new patented pulse technology intended for ultrasound-guided tissue sampling. Each needle type is driven by the pulse technology providing a more controlled needle insertion and precise placement of the needle in the tumor whilst enabling high-quality tissue samples from both breasts and lymph nodes. The pulse biopsy system NeoNavia is designed to offer clinicians and patients accurate lesion targeting and high tissue yield for correct diagnosis and individualized treatment.

About Karolinska Institute

The Karolinska Institute is consistently ranked amongst the world's best medical schools, ranking 6th worldwide for medicine in 2021. The Nobel Assembly at the Karolinska Institute awards the Nobel Prize in Physiology or Medicine.