RNS Number : 2484W
13 November 2017
13 November 2017
("Concepta" or the "Company")
£600,000 sales order confirmed
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 that the Company has received formal confirmation of a £600,000 sales order (the "Order") (RMB 5,058,196).
The order for 5,200 of Concepta's myLotus meters was previously announced on 6 November 2017 and has been placed by ShanDong WeiHai HaiChen Pharmaceutical Co. Ltd in China. Revenues from this order will be realised in Q4 2017.
The order has been received from ShanDong WeiHai HaiChen Pharmaceutical Co. Ltd based in WeiHai City, ShanDong Province and covers the territories Beijing, Shanghai, ShanDong Province and Henan Province.
Erik Henau, CEO of Concepta plc said: "I am very pleased to be able to confirm the receipt of this significant order for our myLotus product. We are now starting to see our considerable investment in relationship building, marketing, and setting up manufacturing, logistics and distribution begin to bear fruit in China. We expect to be able to announce further orders in the coming months and I look forward to updating shareholders in due course."
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.
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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 2018 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.
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