2 Jun 2020 07:00
Concepta PLC
("Concepta" or the "Company")
Commercial update
Concepta PLC (AIM: CPT), the innovative UK personalised healthcare company and developer of myLotus®, the UK's most accurate home-use fertility tracking and pregnancy self-testing system, provides an update on the Company's readiness for wider commercial roll-out.
Following the Board changes announced in October and November last year, the Company has made substantial improvements to its operational structure to best position the business to ensure the commercial success of myLotus®. Significant cost savings have been achieved and manufacturing has been successfully outsourced, allowing Company funds to be deployed towards digital marketing and commercial sales efforts. Concepta has also secured funds, via a recent Placing which raised £1.9m (gross), to support increased commercial activities as the Company aims to increase consumer awareness of its flagship self-test fertility monitor.
Since the announcement of the first myLotus birth in October 2019, Concepta has had the chance to share in the stories of over 26 women who have used myLotus to successfully conceive and give birth, and have shared their news with Concepta. Whilst the Company is still in the early stages of commercial roll-out, it continues to build on listings on www.boots.com and Amazon. A repositioned myLotus will emerge from June 2020 along with a fully optimised digital campaign, and this will be followed by a new App which is expected to be available for those using myLotus in Q4 2020.
The Company also announced an exclusive global licence with Abingdon Health Limited ("Abingdon Health") for the use of its App Dx IP for human pregnancy and fertility. App Dx uses cutting-edge software to transform a smartphone into a powerful lateral flow reader and unlocks the potential for Concepta customers to access rapid test results, further information and connectivity with supporting services at home. Feasibility work on the new product has commenced and, subject to a successful development, it is expected to be launch-ready in 2021.
Penny McCormick, Chief Executive Officer of Concepta plc, commented:
"We have been working hard on the marketing effort for myLotus this year so that we are ready to optimise our reach and connect directly with our target end users. Our team has been strengthened with the appointment of key marketing, digital and customer care roles, and we are gearing up for a rollout in the second half of 2020. As awareness of our brand builds, we look forward to seeing more pregnancies and births ahead, and most importantly, more women engaging with their conception health, and a new emotionally intelligent educational approach."
Concepta plc | www.conceptaplc.com |
Penny McCormick, Chief Executive Officer | via Walbrook PR |
Maddy Kennedy, Chief Financial Officer | |
SPARK Advisory Partners Limited (NOMAD) | Tel: +44 (0)20 3368 3550 |
Neil Baldwin | |
Novum Securities (Broker) | Tel: +44 (0)20 7399 9400 |
Colin Rowbury | |
Walbrook PR Ltd (Media & Investor Relations) | Tel: +44 (0)20 7933 8780 or concepta@walbrookpr.com |
Paul McManus | 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 product, myLotus®, 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.
myLotus® 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 myLotus® 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 myLotus® and has launched its first product in the UK. The Company is preparing plans to roll-out across the core EU countries in 2020.
myLotus® 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.