28 September 2020
Concepta PLC (AIM: CPT), the personalised healthcare company, announces its interim results for the six months to 30 June 2020, a period of successful corporate reorganisation allowing additional funds to be channelled into product and commercial development of its home-use personalised fertility tracking and pregnancy self-testing system relaunched under the MYLO ® brand.
The myLotus ® Fertility Monitor is the only consumer tracking product which allows and records 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, to support conception rates and early identification 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 precise and personal window of fertility and optimal time for conception.
- Commercial launch of MYLO® brand with digital marketing campaigns and full optimised search engine strategy to drive UK commercial sales
- Over 4,000 App downloads now reached
- Exclusive global licence agreement with Abingdon Health Limited for development of App Dx for pregnancy and fertility testing
- New product development focus now on superior App Dx opportunity and wider testing suite
- Outsourced the manufacturing for myLotus® allowing it to focus on product commercialisation and to be more agile in response to market requirements
- Corporate reorganisation and cost reductions to allow funds to be redeployed into commercial efforts:
- 30% reduction in operating overhead costs announced in January
- 50% cost reduction achieved by Head Office move to Cardiff (The Maltings, East Tyndall St, CF24 5EA)
- Facilities outgoing halved (exc. transfer costs) by outsourcing manufacturing to Abingdon Health
- £1.7m net funds raised in April 2020 at 0.8p per share
- Cash balance at 30 June 2020 of £1.35m (H1 2019: £1.5m)
- Loss for the period increased to £1.35m (H1 2019: £1.26m)
Penny McCormick, Chief Executive Officer, commented:
"I am very excited about the opportunity to take a leading role in influencing the ability to conceive in the pre-IVF space. I believe we have a market leading product and we look ahead to supporting more and more women and couples through their fertility pathway, as well as developing our products to ensure our customers have access to the best possible technology and user experience. Whilst we have a strong foundation in fertility tracking and pregnancy self-testing we also have an opportunity to grow Concepta's product portfolio into other areas of personalised health and female health products."
Penny McCormick , Chief Executive Officer
via Walbrook PR
Maddy Kennedy, Chief Financial Officer
SPARK Advisory Partners Limited (NOMAD)
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Novum Securities (Joint Broker)
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Oberon Capital Ltd (Joint Broker)
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Walbrook PR Ltd (Media & Investor Relations)
Tel: +44 (0)20 7933 8780 or [email protected]
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About Concepta PLC ( www.conceptaplc.com )
Concepta PLC is an AIM-quoted pioneering UK healthcare company that has developed a proprietary product MYLO ®, targeted at the personalised mobile health market, with a primary focus on hormone testing and increasing a woman's chances of naturally getting pregnant whilst providing insight to help overcome unexplained infertility.
MYLO® is the only consumer tracking product which allows and records 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, to support conception rates and early identification of fertility issues. The proposition ofMYLO® 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 precise, optimal time for conception.
MYLO® has received CE mark certification and is expected to be beneficial to users who have been unable to conceive after six 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 in-vitro fertilisation (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 or guidance to help them do so.