PRESS RELEASE Lund, 27 January 2011
EXINI Diagnostics AB, listed on AktieTorget, has today signed an exclusive contract with FUJIFILM Pharma Co Ltd concerning EXINI Bone™. The contract, which applies to the Japanese market, has a guaranteed value of SEK 15m and a potential maximum value of SEK 24m over a three-year period. The greater part of the guaranteed part-payment will create revenue during 2011, and will bring a positive cash flow to the business during the course of the year.
EXINI has long been collaborating with FUJIFILM Pharma on development of a version of EXINI Bone™ adapted to Japanese circumstances. Exhaustive tests have been carried out in several stages at a number of hospitals all over Japan. The outcomes have been excellent, and during the autumn the companies discussed the detail of a contract. These discussions have now resulted in the present three-year contract.
- "The discussions with FUJIFILM Pharma have been going on for quite some time, and we are delighted to now be signing this contract for the quality-aware Japanese market. It's a big breakthrough, and represents recognition for EXINI, as FUJIFILM Pharma is a renowned company, and one of the biggest on the isotope market in Japan. We can also see great potential for added sales, in that EXINI Bone™ may be followed by several of our other products. We have also gained useful experience ahead of the coming international negotiations with OEM manufacturers and end customers," says Magnus Aurell, EXINI Diagnostics' CEO.
- "By entering into this contract FUJIFILM Pharma have shown that they have a long-term ambition of working with EXINI and their products on the Japanese market," says Thomas Jonsson, EXINI’s representative in Japan, Life Science Ambassador Medicon Valley Alliance.
The contract will give EXINI a positive cash flow during 2011, thanks to the initial installation and licence charges, totalling SEK 13m. The contract also covers support and service charges for the next two years, plus fees based on use of the product. The next step in the collaboration is a combined kick-off and training session in Lund for those in charge at FUJIFILM Pharma.
- "Skeletal scintigraphy is an established method of detecting skeletal metastases in patients with breast or prostate cancer. With our product, EXINI Bone™, in addition to identification and diagnostic proposals the physician also gains access to a 'Bone Scan Index' (BSI). My assessment is that we have only scraped the surface regarding potential applications for BSI ahead of existing follow-up methods in connection with skeletal metastases," says Magnus Aurell.
For further information please contact:
Magnus Aurell, CEO
Tel.: 0046 (0)46-286 54 25
E-mail: magnus.aurell@exini.com
About EXINI Diagnostics AB
EXINI Diagnostics AB offers advanced solutions for support in medical decision-making to hospitals worldwide. The system is based on advanced image analysis through artificial intelligence, and can independently interpret X-ray images and make diagnostic proposals. The system is used in this way as decision-making support for the diagnosing physician. EXINI is working on products for diagnosis of some of the most widespread diseases, e.g. coronary heart disease, cancer, dementia and Parkinson's disease. The company was founded in 1999 by Prof. Lars Edenbrandt, and now has 12 employees. EXINI is listed on AktieTorget, and has about 250 shareholders. The main owner is Bo Håkansson.
EXINI Diagnostics AB, Ideon Science Park, Scheelevägen 17, SE-223 70 Lund, Sweden Tel.: +46 (0)46 286 54 20, Fax: +46 (0)46 286 54 29, info@exini.com, www.exini.com, VAT No.: SE556576199501