Assembly held in Shanghai to showcase myLotus product
14 December 2017
Hospital evaluation results of myLotus exceeded expectations
Excellent reception from potential distributors
Concepta plc (AIM: CPT), the UK healthcare company and developer of a proprietary product targeted at the mobile health market with a primary focus on women's fertility, is pleased to announce that it held its inaugural meeting to present its myLotus fertility product to potential distributors in Shanghai on 22 November 2017.
Concepta executives, alongside Chinese hospital partners, gave presentations on both the Company and its myLotus product, consisting of the myLotus meter, testing strips and app.
Leading doctors from both the Changhai and HuaShan hospitals also presented results of a hospital evaluation of the Company's myLotus product. The results concluded that the LH and hCG2 measurements registered by myLotus achieved approximately 100% correlation with those of hospital laboratory tests carried out on blood samples. The results presented strong evidence of the product's effectiveness to distributors, who will now assess the hospital route-to-market for myLotus.
31 potential distributors attended the meeting, covering 14 important cities and provinces1, including Beijing and Shanghai. Between them these distributors cover a total population of over 800 million people and have the potential to reach an estimated 2.8 million women with unexplained infertility.
Erik Henau, CEO of Concepta commented: "With our distributor network in China expected to grow significantly next year, we intend to expand both of our UK and China based manufacturing sites to ramp up production. We have conducted an extensive review to ensure that the supply chain is operating at an optimum level to meet demand, and we will continue to adjust as demand increases.
"We are extremely pleased with the reception that our myLotus product received at the meeting. Over the coming months, Concepta's team in China will be presenting full product demonstrations at the premises of each of the potential distributors as they prepare their business plans for their province.
"We anticipate 2018 to be a transformational year in which we build our distribution network throughout China as well as our direct to consumer launch in Europe, and look forward to updating the market on these developments in the New Year."
1 The distributors in attendance covered Beijing, Shanghai, Tianjin, FuJian, ShanDong, HeNan, JiangSu, GuangDong, ShangXi, ChongQing, JiLin, AnHui, YunNan and HuBei
2 LH and hCG are hormones that directly influence a woman's fertility
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About Concepta Plc:
Concepta plc is an AIM-quoted pioneering UK healthcare company that has developed a proprietary product, myLotus, targeted at the personalised mobile health market with a primary focus on unexplained infertility* in women.
myLotus is currently the only consumer product which allows both quantitative and qualitative measurements of a woman's personal LH and hCG* hormone levels in a home test, facilitating higher conception rates and early diagnosis of issues with fertility hormones. The proposition of myLotus is to help women conceive naturally.
Concepta has made significant progress recently, establishing agreements with a number of distributors in China where myLotus has been given cFDA approval. Concepta is initially targeting the traditional route to market in China through Chinese hospitals and plans to add the direct-to-consumer route in the near future.
The Company is also well on its way to achieving CE-marking and commencing its direct-to-consumer launch in the UK and Europe in H1 2018. The Company has identified a significant global market opportunity, with revenue potential of the Chinese and EU unexplained infertility market estimated to be worth c.£600m per annum.
*Unexplained infertility refers to women that have been unable to conceive after 6 months of trying. This highly motivated target group of consumers won't typically be offered medical intervention until 12 months of unsuccessfully trying, with IVF not offered until two years. Research indicates couples start to take positive action ahead of this time and there is little medical support to help them do so.
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