| Source: Biohit Oyj


Biohit Oyj    Interim report    25.10.2012    12:00 a.m.

 Net Sales in table consolidated income statement is corrected to 0.5m eur (0.4m eur) 



Biohit Oyj    Interim report    25.10.2012    9:30 a.m.

SUMMARY    January–September 2012

  • Net sales EUR 1.4 million (EUR 1.5 million)
  • Operating result EUR -3.4 million (EUR -2.5 million)
  • Result before taxes EUR -2.8 million (EUR 0.4 million).
  • International operations accounted for 88 per cent of net sales.
  • Earnings per share EUR -0.20 (EUR 0.30)

July–September 2012

  • Net sales EUR 0.5 million (EUR 0.5 million)
  • Operating result EUR -1.2 million (EUR -0.7 million)
  • Result before taxes EUR -0.8 million (EUR 0.5 million).
  • International operations accounted for 90 per cent of net sales.
  • Earnings per share EUR -0.06 (EUR 0.04)



We concluded several significant agreements during the period under review


Net sales decreased by 7.3 per cent during the first nine months. The Group’s net sales for January–September were EUR 1.4 million, while net sales for the corresponding period in the previous year amounted to EUR 1.5 million. The change in the distribution channel strategy is advancing, but replacing the distribution channel for diagnostics products lost with the subsidiaries sold to Sartorius on 14 December 2011 will take time.


During the third quarter, we signed an agreement on Acetium with Tamro, under which Tamro will assume responsibility for pharmacy marketing of Acetium in addition to logistics.


We also agreed a project with Terveystalo whereby Biohit will offer GastroPanel laboratory assay services to Terveystalo customers. As part of the project, Terveystalo, for example, will arrange a gastric cancer risk screening project in cooperation with the Keski-Satakunta Joint Municipal authority for Health Care and Biohit will analyse the samples collected by Terveystalo in its in-house laboratory (pilot).


In addition, we established a subsidiary in China. The aim of the subsidiary is to provide support for building a distribution channel in China. Furthermore, we launched a project to outsource our sales organisation in Russia to our new partner Melon Pharma and initiated a (pilot) GastroPanel screening programme in Kazakhstan. We have also concluded other distributor arrangements during the period under review.


This year, the focus of business development has been on securing distributors and customers both in Finland and in particular internationally through partnering. Our primary goal is to create a motivated, professional and strong global network of distributors.


The company initiated statutory employer-employee negotiations in September for production-related and financial reasons, with the aim of adjusting the Group’s cost structure to the new distribution channel strategy and also with regard to production, R&D, sales and marketing.  The negotiations ultimately led to the reduction of two employees and several changes in job descriptions. At the end of September 2012, the Group had a total of 39 employees.

The claims period of the European patent of Biohit Oyj’s Acetium product has expired and no claims have been made. This means that Acetium now has extensive patent coverage in Europe. The company was also recently granted a patent “The method for diagnosing atrophic gastritis” protecting the GastroPanel invention in China, and patent for the product neutralising carcinogenic acetaldehyde and its manufacturing method in the United States.




  7-9/12 7-9/11 Change 1-9/12 1-9/11 Change 1-12/11
Net sales, MEUR 0.5 0.5 -0.0 1.4 1.5 -0.1 2.2
Operating profit/loss, MEUR -1.2 -0.7 -0.5 -3.4 -2.5 -0.9 -6.0*
Profit/loss before taxes, MEUR -0.8 -0.4 -0.4 -2.8 -2.9 0.1 -6.5*
Profit/loss of discontinued operations, MEUR  
Profit/loss for the period, MEUR  
Average number of personnel  
Number of personnel at the end of period  
Equity ratio, % 89.8% 46.1%   89.8% 46.1%   74.0%
Earnings per share, EUR -0.06 0.04 -0.1 -0.20 0.30 -0.50 2.86**
Equity per share, EUR  
Average number of shares during the period  
Number of shares at the end of period  

*)Includes a goodwill write-down of MEUR 2.6

**) Earnings per share for 2011 have been calculated from the result of both continuing and discontinued operations




Since the beginning of 2012, Biohit Oyj has reported income statement figures for the current and comparison periods in an operation-specific format.

General administrative expenses for the comparison periods have been allocated to continuing and discontinued operations on the basis of the number of personnel. In the 2012 reporting, general administrative expenses for the comparison period 2011 will be re-allocated fully to continuing operations. Administrative costs that were allocated according to personnel figures in 2011 have been transferred from the expenses of the liquid handling business to the expenses of the Healthcare business this year.



Net sales for the third quarter decreased by 4.9 per cent from 2011 to MEUR 0.5 (MEUR 0.5).

The operating loss was EUR 1.2 million (MEUR -0.7). International operations accounted for 90 per cent (96%) of net sales in July–September. Utilising the very high potential of HealthCare products and services and subsequent growth of business requires major investments in marketing and the strengthening of the organization.  Front-loaded costs, coupled with the delay in net sales growth caused by the company's new focus, have had an unfavourable impact on the third-quarter result.


Net sales and result of the Group


  7-9/12 7-9/11 Change MEUR 1-9/12 1-9/11 Change MEUR 1-12/11
Net sales, MEUR 0.5 0.5 0.0 1.4 1.5 -0.1 2.2
Operating profit/loss, MEUR -1.2 -0.7 -0.5 -3.4 -2.5 -0.9        -6.0*




On 30 September 2012, the balance sheet total was EUR 40.9 million (EUR 33.7 million) and the equity ratio was 89.3 per cent (46.1%).



Biohit Oyj’s financial position has remained stable during the third quarter and is significantly better than during the corresponding period in 2011. The main reason for the strengthening of the financial position is the divestment of Biohit Oyj’s liquid handling business to Sartorius Lab Holding GmbH on 14 December 2011.  

The aim of the company’s investment activity is to achieve profit at a very low risk of capital loss. The investment portfolio consists of deposits, investments in the financial market and company loans. The company uses at least two partners in its investment operations.



R&D operations have focused on improving and upgrading existing innovations and products. The company also employs external experts and subcontractors in its R&D operations. No development costs were capitalised for the HealthCare business. 

Gross investments in R&D during the reporting period totalled EUR 0.6 million (EUR 0.4 million in 1–9/2011).



Gross investments during the reporting period totalled EUR 0.0 million (EUR 3.8 million).  PERSONNEL

During the reporting period, the average number of personnel in the HealthCare business employed by the Group was 39 (36 in the corresponding period in 2011), of whom 30 (22) were employed by the parent company and 9 (14) by the subsidiaries. At the end of the reporting period, the Group had 39 employees, of whom 30 were employed by the parent company and 9 by its subsidiaries. Two people still work for the company’s divested subsidiaries for the transition period.



The company's key risks relate to the investments required to grow its HealthCare business. Such risk factors include successful selection and development of distribution channels, recruitment of personnel and pricing of products.

The aim of the company’s liquid asset investment activity is to achieve profit at a very low risk of capital loss. The investment portfolio consists of deposits, investments in the financial market and company loans. Sufficient distribution of investments between asset categories, investment instruments and counterparties is essential. The company uses at least two partners in its investment operations.

Customers in the HealthCare business will be spread across a large area. As a result, the company will not have significant dependencies on individual customers or project deliveries. 

Utilising the very high potential of HealthCare products requires major investments in the sales and marketing of products.



The company is strongly focusing on finding foreign partners. The improvement of net sales will depend on how quickly the new distributor agreements result in orders.

The Group’s full-year net sales for 2012 will fall somewhat short of the previous year. The company expects to achieve a positive result during 2013 or in the first half of 2014.



International research groups recommend blood sample biomarker tests for the diagnosis and screening of gastric diseases 

In an article published in a prestigious journal, the Healthy Stomach Initiative group’s 16 leading gastroenterology experts from twelve countries suggest using the GastroPanel biomarkers for diagnosing and screening for H. Pylori infections or atrophic gastritis caused by an autoimmune disease in patients suffering from stomach discomfort. The GastroPanel test provides a lot of information and helps in  screening and referring patients suffering from abdominal problems and gastric cancer patients with or without symptoms and other risk patients for gastroscopy and treatment ( ”GastroPanel biomarkers”: Rationale in diagnosis and screening of atrophic gastritis with stomach-specific plasma biomarkers”).

The state-of-the-art, highly informative, safe and cost-effective GastroPanel examination for diagnosing dyspepsia and Helicobacter pylori infection and atrophic gastritis does not involve any of the serious medical and ethical problems described below:

• The 13C urea breath test (UBT), stool antigen test and antibody tests alone do not detect atrophic gastritis of the corpus caused by H. pylori infection or autoimmune disease, or atrophic gastritis of the antrum caused by H. pylori infection. Atrophic gastritis is nearly always asymptomatic, and usually irrevocable.

• Undiagnosed atrophic gastritis of the corpus (anacidic stomach) may cause gastric and oesophageal cancer and malabsorption of vitamin B12, iron, magnesium, calcium and certain drugs.

• Calcium deficiency causes osteoporosis. Vitamin B12 deficiency can cause pernicious anaemia, dementia, depression and damage to the peripheral nervous system.

• The absorption of dipyridamole, some iron products and antifungals (fluconazole, itraconazole), thyroxine and atazanavir is impaired in an anacidic stomach. Particularly in senior citizens, the risk of severe intestinal infections (such as giardiasis, malaria, Clostridium difficile and E. coli EHEC) may increase significantly.

• Atrophic gastritis in the gastric antrum increases the risk of peptic ulcer disease and gastric cancer. If both the antrum and corpus mucosa are atrophic, this condition is the highest known risk for gastric cancer. In some cases, gastric cancer is directly caused by H. pylori-induced gastritis.  Hereditary gastric cancer occurs in less than 1% of the population.

• Furthermore, none of the aforementioned three H. pylori tests provide any information on excessive gastric acid secretion, which in patients with gastro-oesophageal reflux disease may cause complications from this disease. Such complications are often asymptomatic and include ulcerative oesophagitis and Barrett’s oesophagus, which may lead to oesophageal cancer if left untreated. If complications of gastroesophageal reflux disease are suspected due to excessive acid secretion, or if the patient has atrophic gastritis or symptomatic Helicobacter pylori infection, gastroscopy is required to rule out cancer and other risks.

• In addition, the 13C urea breath test and stool antigen test may give up to 40% false negative results for H. pylori infection, meaning that this infection and the associated cancer risks etc. are not diagnosed if the patient has atrophic gastritis, MALT lymphoma or bleeding peptic ulcer disease or if the patient is currently receiving antibiotics or PPI treatment.

In order to prevent medical malpractice, unnecessary costs and even unnecessary deaths caused by cancer, the current Helicobacter pylori tests should be replaced by the GastroPanel biomarker test. With the GastroPanel tests readily available, treating patients suffering from stomach discomfort without further diagnosis can no longer be justified. Risky self-treatment of stomach discomforts may delay the diagnosis of, for example, precancerous gastric lesions until the disease has progressed beyond treatment. Approximately one-third of the population in Finland suffers from stomach discomfort. Tens of thousands of patients from this group receive proton pump inhibitor (PPI) treatment or take prescription-free PPI medication, regardless of the fact that they already have an achlorhydric stomach caused by atrophic gastritis and the associated risks of cancer and other diseases.

Proton pump inhibitor (PPI) medications, both prescribed and those available without prescription, come with the following warning: “If the patient has alarming symptoms (e.g. significant unintentional weight loss, persistent continuous vomiting, difficulty swallowing, blood in vomit or in stool) and a suspected or diagnosed peptic ulcer, any malignant conditions must be ruled out because PPI treatment can alleviate the symptoms and delay diagnosis.”  This warning is justified but insufficient to lower the extremely high mortality rate in patients with stomach and oesophageal cancer. When “alarming symptoms” have appeared, the cancer has usually advanced to a non-curable stage. Despite this warning and without ruling out atrophic gastritis (achlorhydric stomach), stomach discomfort is very often treated with PPI and other medications that reduce gastric acid (HCl). Furthermore, atrophic gastritis and the associated cancer risk caused by both a Helicobacter pylori infection and an autoimmune disease typically cause few or no symptoms.

Osteoporosis and vitamin B12 deficiency represent a major public health problem among the elderly, and may typically be caused by asymptomatic undiagnosed atrophic gastritis.  A person with an autoimmune atrophic gastritis of the corpus may simultaneously suffer from an another autoimmune disease, such as thyroiditis, celiac disease, rheumatoid arthritis and type 1 diabetes; or vice versa, a person with thyroiditis and type 1 diabetes often suffers from autoimmune asymptomatic atrophic gastritis and the resulting risk of gastric and oesophageal cancer as well as vitamin B12 deficiency. GastroPanel helps to detect at-risk patients in time and refer them for gastroscopy and treatment.


Clinical trial

Biohit Oyj has launched a clinical study in cooperation with the gastroenterology clinic of HUS (Hospital District of Helsinki and Uusimaa) and GastroLääkärit. The trial seeks to determine the capacity of the new BioAcetium product to eradicate Helicobacter in individuals over 55 years of age who have not been diagnosed with a prior Helicobacter infection.

The BioAcetium innovation could provide an entirely new possibility for Helicobacter eradication treatment that is significantly safer and more cost-effective than the previous treatment models for Helicobacter infection and has either a non-existent or minimal risk of leading to the development of antibiotic-resistant strains of the bacteria.

Over half of the world’s population continues to suffer from Helicobacter infection. Those who suffer from a Helicobacter infection have a 10–20% chance of developing a gastric and duodenal ulcer and a 1–2% risk of developing gastric cancer over the course of their lives. Gastric cancer is still the second most common cause of cancer-related death worldwide. According to modern treatment recommendations, measures should be taken to eliminate the bacteria in at least all individuals who suffer from gastric ailments. However, the bacteria’s ability to develop antibiotic-resistant strains is a quickly growing worldwide problem. The trial is expected to be complete by the end of 2012.

Clinical trials with the Acetium capsule in Japan, Italy and Sweden will proceed following statements by the relevant ethics committees. The aim is to gain additional international research data to support the Acetium capsule study in Finland in patients with achlorhydric stomach and ALDH2 deficiency.   

Acetium lozenge and BioFilter

At the beginning of the year, the company started the completion and preparation of Acetium lozenges and BioFilters for research use.

Our research project starting in late 2012 will investigate whether the Acetium lozenge tablet binding and neutralising acetaldehyde dissolved into saliva from cigarette smoke helps smokers to give up smoking.

 It is known based on numerous animal tests that cancer-causing acetaldehyde also causes strong addiction.BioFilter is a filter solution for smokers, and it effectively binds acetaldehyde from cigarette smoke, thereby preventing it from entering the smoker’s saliva and respiratory tract.  Discontinued business

Biohit Oyj sold its liquid handling business to Sartorius Lab Holding GmbH on 14 December 2011.



Authorisations of the Board of Directors

Based on a resolution of the AGM held on 13 April 2011, the Board of the company is authorised to decide on the issue of shares and to issue the special rights referred to in Chapter 10, section 1 of the Finnish Limited Liability Companies Act so that the maximum number of new Series B shares to be issued pursuant to the special rights is 2,000,000, which corresponds to approximately 20% of the company's Series B shares. In August, based on the authorisation, the Board of Directors decided to arrange a directed share issue to Sartorius Lab Holding GmbH. The remaining authorisation is for 1,322,034 Series B shares.

According to the resolution, the Board of Directors is entitled to decide on all terms and conditions regarding the issue of shares and the issue of special rights. The issue of shares and the issue of special rights entitling to the receipt of shares can occur in deviation from the subscription right of shareholders (special issue). Such an authorisation remains valid for three years from the resolution of the AGM.

Changes in Biohit Oyj’s management during the third quarter

The responsibilities of Biohit Oyj’s CFO, Jussi Kolunen, were expanded to include corporate communications in addition to finances and HR as of 31 July.  

The composition and responsibilities of Biohit Oyj’s Management Team are as follows:

Semi Korpela, CEO

Jussi Kolunen, Finance, HR and Communications

Anu Mickels, Sales and Marketing

Panu Hendolin, Research and Product Development

Tapani Tiusanen, Operations and ICT

Lea Paloheimo, Development and Quality



Biohit Oyj's shares are divided into Series A and Series B shares. There are 2,975,500 Series A shares and 10,640,093 Series B shares, totalling 13,615,593 shares. Series A shares confer 20 votes per share and Series B shares 1 vote per share. The dividend paid for Series B shares is, however, two (2) per cent of the nominal value higher than that paid for Series A shares. The total market capitalisation value (supposing that the market capitalisation value for Series A and B shares is equal) at the end of the period was EUR 27.6 million. (EUR 30.9 million on 30 September 2011).

Biohit Oyj's Series B shares are quoted on NASDAQ OMX Helsinki in the Small Cap/Healthcare group under the code BIOBV.


BIOBV/NASDAQ OMX Helsinki 1-9/2012 1-9/2011
High, EUR 3.97 3.38
Low, EUR 2.00 1.74
Average, EUR 2.85 2.52
Latest, EUR 2.03 2.27
Turnover, EUR 8,981,178 4,454,892
Turnover, volume 3,147,611  1,768,148



At the end of the reporting period on 30 September 2012 the company had 4,569 shareholders (4,495 shareholders on 30 September 2011). Private households held 71.91% (68.45%), companies 21.68% (23.43%) and public sector organisations 2.51% (2.52%) of the shares. Foreign ownership or nominee registrations accounted for 3.90% (5.60%) of shareholding.

Further information on the shares, major shareholders, and management’s shareholdings is available on the company’s website at



This interim report was prepared in accordance with the IAS 34 standard.

Following the divestment made on 14 December 2011, the HealthCare business is presented as continuing operations for 2011 and the liquid handling business as discontinued operations. Separate segment-based reporting will no longer be provided. Since the beginning of 2012, Biohit Oyj has reported income statement figures for the current and comparison periods in an operation-specific format. In other respects Biohit Oyj has applied the same accounting principles in preparing this financial statement bulletin as for its 2011 financial statements. The IFRS standards that came into effect in 2012 did not affect the accounting principles.

All figures in the interim report have been rounded up or down, due to which the sums of figures may deviate from the sum total presented.

The figures in this interim report have not been audited.




MEUR 7-9/12 7-9/11 Change  1-9/12 1-9/11 Change 1-12/11
Net sales 0.4 0.5 -0.1 1.4 1.5 -0.1 2.2
Materials and services  
Gross margin 0.2 0.2 0.0 0.6 0.5 0.0 0.7
Sales and marketing -0.6 -0.2 -0.4 -1.5 -0.8 -0.6 -1.3
Administration -0.6 -0.6 -0.0 -2.0 -1.8 -0.2 -2.1
Research and development -0.2 -0.1 -0.1 -0.6 -0.4 -0.2 -0.7
Goodwill depreciation 0 0 0 0 0 0 -2.6
Other operating income 0 0 0 0 0 0 0.0
Operating profit/loss -1.2 -0.7 -0.5 -3.4 -2.5 -0.9 -6.0
Financial income 0.3 0 0.3 0.9 0 0.9 0.2
Financial expenses   -0.2 -0.2 -0.0 -0.4** -0.4 0.0 -0.7
Profit/loss before taxes -0.8 -0.4 -0.4 -2.8 -2.9 0.1 -6.5
Income taxes 0 -0.1 0.1 0 -0.2 0.1 -6.1
Profit for the period, continuing operations -0.8 -0.5 -0.3 -2.8 -3.1 0.3 -12.6
Profit for the period, discontinued operations 0 1.0 -1.0 0 3.5 -3.5 50.3*
Other comprehensive income:              
Translation difference 0 -0.0 0.0 0 0 0 0.1
Total comprehensive income  

*) Includes a capital gain of MEUR 46.1 from the divestment of the liquid handling business

**))The portion of the repaid convertible bond entered into the fund for the investment of unrestricted equity had a EUR -0.2 million effect on the financing costs


Earnings per share calculated from earnings attributable to equity holders of the parent company 1-9
Earnings per share, undiluted*, EUR -0.20 0.03 0.00


*) Convertible bond is not dilutive in respect of earnings per share in the financial years 2012 and 2011



  30 Sep 2012 MEUR 30 Sep 2011 MEUR 31 Dec 2011 MEUR
Goodwill 0.0 2.6 0.0
Intangible assets 0.2 3.7 0.3
Property, plant and equipment 0.0 0.0 0.1
Receivables  8.0* 7.9 6.8*
Deferred tax assets 0.0 1.7 0.0
Total non-current assets 8.2 16.0 7.3
Inventories 0.4 6.4 0.3
Trade and other receivables 1.1 7.6 6.0
Financial assets at fair value through profit and loss 30.9 1.7 10.0
Cash and cash equivalents 0.3 2.0 47.9
Total current assets 32.7 17.7 64.2
TOTAL ASSETS 40.9 33.7 71.5
Equity attributable to parent company shareholders      
Share capital 2.3 2.3 2.3
Invested unrestricted equity fund 3.4 14.3 14.3
Translation difference 0.0 0.0 0.0
Retained earnings 30.6 -1.1 36.2
Total equity 36.3 15.5 52.8
Deferred tax liabilities 0.0 0.1 0.0
Pension obligations 0.0 0.2 0.0
Total interest-bearing liabilities 0.0 9.8 0.0
Other liabilities 0.0 0.7 0.1
Total non-current liabilities 0.0 10.8 0.1
Trade payables 0.4 2.5 3.0
Total interest-bearing liabilities 0.4 1.2 4.9
Deferred tax liabilities 0.0 0.0 4.5
Other liabilities 3.8 3.7 6.1
Total current liabilities 4.6 7.4 18.5
Total liabilities 4.6 18.2 18.6


*) Includes EUR 6.8 million in receivables from a business transaction; these funds are placed in an escrow account. Funds will be released from the escrow account on 31 March 2014, provided no claims concerning the transaction are made.



Statement of changes in consolidated shareholders’ equity on 30 September 2012


MEUR Share capital Translation difference Invested unrestricted equity fund Retained earnings Total shareholders’ equity
Shareholders’ equity 1 Jan 2012 2.3 0.0 14.3 36.2 52.8
Total comprehensive income for the period   0.0  -10.9 -5.5 -16.4
Shareholders’ equity 30 Sep 2012 2.3 0.0 3.4 30.6 36.3


Statement of changes in consolidated shareholders’ equity on 30 September 2011


MEUR Share capital Translation difference Invested unrestricted equity fund Retained earnings Total shareholders’ equity
Shareholders’ equity 1 Jan 2011 2.2 -0.1 12.4 -1.5 13.0
Share issue 0.1   1.9   2.0
Total comprehensive income for the period   -0.0   0.4 0.4
Shareholders’ equity 30 Sep 2011 2.3 -0.2 14.3 -1.1 15.5



  1-9/2012 MEUR 1-9/2011 MEUR 1-12/2011 MEUR  
Profit for the period -2.8 0.4 37.7  
Adjustments -0.7 1.9 -35.0  
Interest paid and payments on other operational financial expenses -0.7 -0.3 -0.8  
Interest received 0.2 0.0 0.0  
Realised exchange rate gains and losses 0.0 -0.1 0.4  
Income taxes paid -4.5 -0.1 -0.2  
Net cash flow from operating activities -8.4 1.1 5.0  
Investments in tangible and intangible assets 0.0 -1.4 -4.1  
Capital gain from sales of business 0.0 0.4 56.5  
Capital gain from investments 0.0 0.0 0.4  
Investments and capital gain from investments in funds and deposits, net -20.9 -1.2 -9.5  
Net cash flow from investments -20.9 -2.2 43.4  
Share issue 0.0 2.0 2.0  
Dividend payout -13.6 0.0 0.0  
Proceeds from loans 0.0 0.5 0.5  
Repayments of loans -4.7 -1.1 -4.6  
Net cash flow from financing activities -18.3 1.4 -2.1  
Increase (+) / decrease (-) in cash and cash equivalents -47.6 0.3 46.2  
Cash and cash equivalents at the beginning of the period 47.9 1.7 1.6  
Effect of exchange rates on cash and cash equivalents 0.0 0.0 0.0  
Cash and cash equivalents at the end of the period 0.3 2.0 47.9  



There have been no noticeable changes in related party transactions during the reporting period.



  1-9/2012 MEUR 1-9/2011 MEUR 1-12/2011 MEUR
Collateral given for the parent company      
Corporate mortgages 0.0 2.5 0.0
Mortgages on real estate 0.0 2.7 0.0
Collateral given on behalf of subsidiaries      
Guarantees 0.0 0.2 0.0
Other liabilities      
Leasing commitments:      
Due for payment in one year 0.0 0.8 0.6
Due for payment in over 1 year but less than 5 years 0.0 0.9 0.7
Due for payment in more than 5 years      
Total 0.0 1.7 1.3
Other rental commitments:      
Due for payment in one year 0.2 0.8 0.1
Due for payment in over 1 year but less than 5 years 0.4 1.0 0.1
Due for payment in more than 5 years 0.0 0.2 0.0
Total 0.6 2.0 0.0
Total other liabilities 0.0 3.7 1.6
Total collaterals and contingent liabilities 0.6 9.1 1.6



 Helsinki, 25 October 2012


Biohit Oyj

Board of Directors


Further information:

Semi Korpela

President and CEO

tel. +358 9 773 861



NASDAQ OMX Helsinki Oyj

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About Biohit Oyj

Biohit Oyj is a globally-operating, Finnish biotechnology company established in 1988. Biohit’s mission is to improve health and quality of living. Biohit specialises in products and systems that promote the diagnostics and prevention of gastrointestinal diseases.


Innovations and patents

The company applies determined and long-term innovation and patenting strategy in cooperation with scientific communities ( Aggressive innovation and patenting strategy). New technology based on research data and innovations is used for providing practical medicine and research institutions with new solutions that can promote research and human well-being.


The diagnostics business comprises products and analysis systems for the early diagnosis and prevention of gastrointestinal diseases, such as the blood-sample based GastroPanel examinations for the diagnosis of stomach illnesses and associated risks, quick tests for the diagnosis of lactose intolerance and Helicobacter pylori infection in connection with gastroscopy, and the ColonView test for the early detection of intestinal bleeding that indicates a risk of colorectal cancer. The Acetium innovation reduces the amount of cancer-causing acetaldehyde in an anacidic stomach.


Biohit Group

The Group employs approximately 38 people. Its headquarters are in Helsinki, with subsidiaries in the United Kingdom and China. In addition, Biohit’s products are sold worldwide by several distributors.

Biohit in the stock exchange

The company was listed on the Helsinki Stock Exchange in 1999. Biohit’s Series B shares (BIOBV) are quoted on NASDAQ OMX Helsinki in the Small Cap/Healthcare group. GastroPanel study