myLotus Fertility Product - China Update
15 October 2017
Concepta plc (AIM: CPT), the pioneering UK healthcare company and developer of a proprietary platform and suite of products targeted at the personalised mobile health market with a primary focus on women's fertility and specifically unexplained infertility, is pleased to announce a positive update on the launch of its proprietary myLotus product in its first international market, China.
The Company has signed an additional two 3-year exclusive distribution agreements for its myLotus fertility product with Huanzhong Biotech Ltd and Wanma Technology Co., Ltd in China.
The distribution agreement with Huanzhong Biotech Ltd will cover the province of Hebei near Beijing, while Wanma Technology Co., Ltd will cover the Shanghai area. Alongside ThinkBrio, which distributes the myLotus product to Beijing and Lianoing, these two agreements will expand Concepta's product offering in China to target a total population of 147 million people across these regions.
Dr Yin Hui Rong, principal investigator at the Changhai Hospital Reproductive Centre,commented on the Company's myLotus product: "I have been impressed with the performance of myLotus. This small, hand-held device is providing results that are comparable to large laboratory equipment. It opens up the opportunity for more flexibility in large and smaller hospitals but also for the women at home."
Hospital evaluation results
Concepta has completed a preliminary hospital evaluation process in China to extend the use of the Company's myLotus product into early pregnancy monitoring. Based on recent positive hospital evaluation results, the Company's new distributors, Huanzhong Biotech Ltd and Wanma Technology will be the first to target the 'early pregnancy' group alongside the 'unexplained infertility' target group. There is a total target market of 2.3 million women a year across the Hebei, Beijing, Lianoing and Shanghai areas for early pregnancy monitoring.
Erik Henau, CEO commenting on the Company's hospital evaluation and new distribution agreements said: "We are delighted to add these new distributors to our network in China, following the Company's excellent preliminary hospital evaluation results. Following the final conclusion of the evaluation, an event will be held in China for a large number of potential distributors where we will exhibit the myLotus product. We expect to announce further distribution agreement signings following this event."
Collaboration with The British Bid
The Company is also pleased to announce the publication of a corporate video, which was broadcast on the BBC World Service on 26 September 2017 and is now available to view online.
myLotus addresses fertility issues that are prevalent throughout the world. Whilst focused on its initial launch in China, Concepta will be able to raise its international profile in collaboration with The British Bid, a global initiative designed to demonstrate the best in British business to ultimately generate new growth via overseas trade. It provides British businesses with a platform to be a voice of excellence for their industry across the globe.
From outside of the UK, the corporate video made in collaboration with The British Bid is now available to watch on BBC.com (http://www.bbc.com/storyworks/the-british-bid/concepta), while from the U.K., it is available to watch on Concepta's website: www.conceptaplc.com
Eric Henau commented: "To realise the potential of the unique myLotus product requires organic growth as well as collaborative deals. Initiatives such as The British Bid are invaluable for attracting potential partners which can aid the Company's organic growth as it continues to develop its myLotus product."
Market Abuse Regulation (MAR) Disclosure
Certain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 until the release of this announcement.
Tel: +44 (0) 7557 985 479
SPARK Advisory Partners Limited (Nomad)
Neil Baldwin / Mark Brady
Tel: +44 (0)20 368 3550
Beaufort Securities Limited (Broker)
Tel: +44 (0)20 7382 8300
Yellow Jersey (Financial PR)
Felicity Winkles / Joe Burgess / Katie Bairsto
Tel: +44 (0) 776 932 5254
About Concepta Plc:
Concepta plc is a pioneering UK healthcare company that has developed a proprietary platform and products targeted at the personalised mobile health market with a primary focus on women's fertility and specifically unexplained infertility*.
Founded in 2013, Concepta has developed a revolutionary flagship product 'MyLotus' for home self-testing that helps women with unexplained infertility to conceive.
MyLotus is the only consumer product which allows both quantitative and qualitative measurements of measurement of a woman's personal hCG and LH hormone levels in an easy to use home test to facilitate higher conception rates and early diagnosis of any fertility problems. Competitor products currently only allow qualitative measurement and are based on the 'average woman'.
Concepta has a defined route to market for its new 'My Lotus' product with Regulatory approvals for launch in China in place for 2016 and CE-Marking for UK and Europe to follow in 2017 where the revenue potential of the Chinese and EU infertility market is worth c.£600m per annum for the company.
*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.