Commercial update; Change of registered office
06 July 2020
Invigorated brand, marketing campaign and consumer website
Concepta PLC (AIM: CPT), the personalised healthcare company, provides an update on the Company's commercial activities and successful cost reduction programme, which has allowed additional funds to be channelled into focused commercialisation efforts.
New commercial launch of MYLO
Today Concepta has relaunched its newly branded home-use personalised fertility tracking and pregnancy self-testing system, MYLO (previously called myLotus ). MYLO remains differentiated from other fertility tests due to its superior technology. It is the UK's most accurate fertility tracker and the only device to capture success rates with its own pregnancy testing regime. MYLO is easy to use and uniquely provides quantitative LH (luteinizing hormone) testing through the cycle which is essential given that a reliable determination of the moment of ovulation is critical in targeting human conception.
The new MYLO brand is being launched today via the Company's new fully optimised consumer website www.myloworld.com . From Monday 13 July Concepta will launch paid-for digital marketing campaigns and a fully optimised search engine strategy to drive commercial sales in the UK. The new marketing strategy is focussed on increasing brand awareness and is content-rich, providing educational information for women and couples who are looking to conceive. The initial focus of commercial efforts will be in the UK to establish a clear marketing footprint that can then be replicated in new territories.
New product development
In parallel with the new commercial launch, the Company is also seeking to ensure customers have access to the best possible technology and user experience. The next version of the MYLO tracker is already in advanced stages of development and is on track to launch before the end of the year. This new version will be Bluetooth enabled and can connect to a fully redeveloped App with improved user experience for Android and iOS customers.
Additionally, having signed the App DX agreement with Abingdon Health in April, the development of a new complementary fertility testing product is well under way and is part of the Company's strategy to build out a wider portfolio of innovative and leading fertility products on a connected platform.
Corporate Reorganisation and Cost Reductions
At the end of last year the new management team had identified a number of cost reduction opportunities and in January this year the Company was able to announce that it has already achieved a 30% cost reduction to the current operating overhead. In addition to this the Company has also rationalised its manufacturing footprint and signed an outsourced manufacturing agreement with Abingdon Health. Excluding transfer costs, this move has halved the Company's facilities outgoings. Furthermore, a similar 50% cost reduction of Head office overheads has been achieved by relocating the Company's Head office to Cardiff, formalising remote working practices and closing the Bedfordshire office. These savings will allow the redeployment of funds associated with operational overheads into commercial activities and R&D investment into the wider product portfolio.
Change of Registered office
Concepta also announces that its registered office has changed with immediate effect to The Maltings, East Tyndall Street, Cardiff, Wales, CF24 5EA.
Penny McCormick, Chief Executive Officer of Concepta plc, commented:
"The launch of the MYLO brand and our new marketing campaign is fitting for our proven and reliable technology, and it's been essential for us to develop a contemporary brand with longevity that can carry our ambitious strategy and future portfolio development. We are now moving towards 5,000 App downloads and aim to invigorate awareness of our product and help inform those who are currently considering conceiving or who are already on that journey.
"As part of our marketing efforts we will invest in customer acquisition and seek to take a leading role in influencing ability to conceive in the pre-IVF space. Just this week we heard from a new HFEA report that the NHS funded less than 30% of IVF treatments in parts of England than in 2018, with m any areas cutting funding . We will continue to support women and couples through their fertility pathway, whilst developing a strategy that adds customer value and support, and gives them the chance to be proactive in their journey towards natural conception."
P enny McCormick , Chief Executive Officer
via Walbrook PR
Maddy Kennedy, Chief Financial Officer
SPARK Advisory Partners Limited (NOMAD)
Tel: +44 (0)20 3368 3550
Novum Securities (Broker)
Tel: +44 (0)20 7399 9400
Walbrook PR Ltd (Media & Investor Relations)
Tel: +44 (0)20 7933 8780 or [email protected]
Mob: +44(0)7980 541 893
About Concepta PLC ( www.conceptaplc.com )
Concepta PLC is an AIM-quoted pioneering UK healthcare company that has developed a proprietary productMYLO, targeted at the personalized mobile health market with a primary focus on hormone testing and increasing a woman's chances of naturally getting pregnant and to provide insight to unexplained infertility.
MYLO is currently the only consumer product which allows both quantitative and qualitative home (self-test) test measurement of a woman's personal luteinizing hormone (LH) during ovulation and human chorionic gonadotropin (hCG) hormone level during pregnancy, facilitating higher conception rates and early diagnosis of fertility issues. The proposition of MYLO is to empower women to better understand their hormone levels and menstrual cycle and help women conceive naturally by identifying their window of fertility and optimal time for conception.
The Company has received CE-mark certification for MYLO and has launched its first product in the UK. The Company is preparing plans to roll-out across the core EU countries in 2020.
MYLO is expected to be beneficial to users who have been unable to conceive after 6 months of trying. This highly motivated target group of women won't typically be offered medical intervention until after 12 months of unsuccessfully trying to conceive, with IVF not usually offered until after two years of trying to conceive. Research indicates couples start to take positive action ahead of this time typically with little medical support to help them do so.