Bioporto: Wrap up from interview with CEO Peter M. Eriksen
By Henrik Ekman
BioPorto participated in an event with HCA Capital on Thursday April 4th, following the release of its annual report for 2023.
Headline numbers were already released late February in conjunction with the announcement of its strategy plan for the 2024-2029 period. At the event newly appointed CEO Peter Mørch Eriksen presented the annual report and clarified the financial goals for 2025/2026 and the strategic ambition to market the company’s recently approved NGAL test, ProNephro AKI for pediatrics, and to leverage this approval to prepare an application to get an approval for adult use of the test.
At the event Peter Mørch Eriksen also described the importance of getting an approval for adult use, and that the process to obtain this requires both time and money, as USD 15 mio. of the previously announced USD 20 mio. in total capital raise requirement will be spent on the adult use application process. At the event Peter Mørch Eriksen also commented on its partner strategy with Roche and potentially other test equipment providers.
Following the event, BioPorto also published its invitation to its upcoming General Assembly Meeting to be held on April 30th where it will be proposed to elect two new members to the board; Henrik Juul, current CFO in Bavarian Nordic and Tonni Bülow-Nielsen, current partner in EIFO.
Combined, the presentation as well as the proposal of two established industry veterans as new members of the board probably reflects a BioPorto in better shape than the current low share price suggests.
You can see the presentation at this link: Interview with Peter M. Eriksen
Disclaimer: HC Andersen Capital receives payment from Bioporto for a Digital IR/Corporate Visibility subscription agreement and support the company with IR Advisory services /Henrik Ekman 10:20 AM 05-04-2024.
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BioPorto is a Danish in-vitro diagnostics company with headquarters in Copenhagen, Denmark. The company was founded in 2000. BioPorto has one marketed product, the NGAL test, for early diagnosis of acute kidney injury (AKI), which is commercially available in Europe, Canada, Asia, and Israel. It has received breakthrough designation from the FDA for AKI in the pediatric indication, for which it is currently conducting data analysis following the completion of enrollment of patients for its Phase 3 study which will lead to an expected application to FDA. Future plans include further FDA submission for adult indication as well as other markets.
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