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At Senzime AB's extraordinary general meeting on October 23, 2024, shareholders unanimously approved the board's resolution for a directed share issue originally decided on September 27, 2024. The issue comprises a maximum of 1,104,000 shares at a subscription price of SEK 6.20 per share, with subscription rights granted to Adam Dahlberg and Sorin J. Brull. This will increase the company's share capital by up to SEK 138,000. The subscription deadline is set for October 28, 2024, and payment must be made in cash.
Senzime has secured its first order for the next-generation TetraGraph system from a Swiss hospital, comprising 20 monitors for Q1 2025 delivery with expected revenues of SEK 3 million over three years, including disposable sensors. The system, launched at ANESTHESIOLOGY 2024, features advanced monitoring capabilities including the Level-of-Block Gauge™, Adaptive Intelligence™, and an improved EMG algorithm with 4x higher resolution. The technology aligns with new clinical guidelines requiring quantitative monitoring of neuromuscular blocking drugs used in approximately 100 million surgical procedures annually.
A new US-based clinical study has validated the accuracy of Senzime's TetraGraph system, a neuromuscular monitoring device. The study, published on October 18, 2024, in the Journal of Clinical Monitoring and Computing, compared the TetraGraph to benchmark mechanomyography (MMG) technology. Key findings include:
1. The TetraGraph demonstrated 97.9% accuracy compared to MMG.
2. It is the first study to clinically validate a portable EMG-only system at all levels of neuromuscular block.
3. Results suggest TetraGraph's performance is superior to other commercially available neuromuscular monitoring systems.
4. The study was conducted at the Medical College of Wisconsin, led by Prof. Thomas Ebert.
Senzime's Chief Medical Officer, Dr. Sorin J. Brull, emphasized the importance of the TetraGraph's precision, particularly during laparoscopic and robotic surgeries. The researchers concluded that EMG monitors like TetraGraph should become a clinical standard for all phases of neuromuscular block.
Senzime AB announces the launch of its next-generation TetraGraph system at the ANESTHESIOLOGY 2024 conference in Philadelphia. The new system features TetraGraph Adaptive Intelligence™, a suite of smart algorithms for precision-based monitoring and automated workflows. It also includes a revolutionary user interface with the TetraGraph Level-of-Block Gauge™ and a 6th generation EMG-algorithm with 4x higher resolution for improved clinical accuracy.
The system, developed in collaboration with leading anesthesiologists, is engineered using sustainable materials and manufactured in an ISO14001 certified process. It will be marketed alongside the classic TetraGraph introduced in 2019. Customer deliveries will begin in the US during Q4 2024, in Europe during Q1 2025, and other global regions throughout 2025.
Senzime AB (publ) (STO:SEZI)(OTCQX:SNZZF) has announced an extraordinary general meeting to be held on 23 October 2024 at 10.00 at Advokatfirman Lindahl's premises in Uppsala. Shareholders must be registered in the Euroclear Sweden AB share register by 15 October 2024 and notify their intention to attend by 18 October 2024.
The main agenda item is to approve the board's resolution on a directed share issue of up to 1,104,000 new shares at SEK 6.20 per share, potentially raising SEK 6,844,800. The issue is directed to Adam Dahlberg (700,000 shares) and Sorin J. Brull (404,000 shares), deviating from shareholders' pre-emption rights. The board cites the need for capital and the opportunity to attract strong investors on favorable terms as reasons for this approach.
Senzime AB (STO:SEZI)(OTCQX:SNZZF) has secured an initial purchasing contract with a hospital of a top 5 US-based Integrated Delivery Network (IDN) on the US East Coast. The contract includes the installation and use of Senzime's TetraGraph neuromuscular system in all operating rooms, following a comprehensive clinical and competitive evaluation.
CEO Philip Siberg highlighted this as a strategic win, demonstrating Senzime's position as a leader in the rapidly transitioning US market for EMG-based neuromuscular monitoring. The contract opens doors to one of the top 5 leading IDNs in the US, with an addressable market potential of over 100,000 patients annually.
TetraGraph is a quantitative train-of-four monitoring system used by anesthesiologists worldwide, meeting recent US and European guidelines for monitoring patients receiving paralytic drugs. It aids in determining correct dosages and post-surgery recovery.
Senzime (STO:SEZI)(OTCQX:SNZZF), a leader in neuromuscular monitoring, has provided a market update and outlined ambitious growth plans. The company estimates significant expansion in the global market for EMG-based neuromuscular monitoring over the next decade. Senzime aims to be the undisputed global market leader in this field.
Key points:
- Short-term goal: Reach revenues of 250-350 MSEK by 2026 and achieve cash flow positivity
- Long-term ambition: Exceed SEK 1 billion in revenues within 5-7 years
- YTD June 2024: TetraGraph revenues increased 139% in the US and 233% in Japan and South Korea
- Over 2,600 TetraGraph systems delivered to more than 370 hospitals worldwide
The company is capitalizing on the transition from AMG to EMG-based monitoring, driven by new clinical guidelines and superior accuracy of EMG technology. Senzime sees a significant market opportunity, with over 15,000 hospitals and 160,000 operating rooms in North America, Europe, Japan, and South Korea.
Senzime AB (STO:SEZI)(OTCQX:SNZZF) has released its interim report for January - June 2024, showing strong sales growth, particularly in the US market. Key highlights include:
- Net sales increased by 76% to TSEK 14,917 in Q2 2024
- US net sales grew by 167% to TSEK 10,973 in Q2 2024
- Disposable sensor sales rose by 92% to TSEK 8,412 in Q2 2024
- Gross margin before depreciation was 63.3% in Q2 2024
- Cash and cash equivalents stood at TSEK 80,184 as of June 30th
CEO Philip Siberg noted the company's success in gaining market share and establishing its technology as the new clinical standard in operating rooms worldwide. The expanded US sales organization has proven effective, with increased system utilization and nearly doubled disposable sensor deliveries compared to the previous year.
Senzime (STO:SEZI)(OTCQX:SNZZF) has announced a webcast presentation of its second quarter 2024 report scheduled for August 26, 2024, at 11:00 CEST. The report will be published earlier the same day. CEO Philip Siberg will lead the presentation, followed by a Q&A session moderated by Erik Palin, an analyst at Carnegie Investment Bank. The event will be conducted in English and can be accessed via Senzime's investor website. Investors, analysts, and media are invited to participate, with the option to submit questions in advance to klas.palin@carnegie.se. The presentation will also be available for later viewing on Senzime's website.
Senzime (STO:SEZI)(OTCQX:SNZZF) has expanded its contract with a top-10 ranked Integrated Delivery Network (IDN) healthcare system in the Southeastern United States. The new agreement extends TetraGraph monitor usage into adult care, following successful implementation in pediatric surgeries. This expansion will increase annual volumes fourfold, with 75 TetraGraph systems to be installed in operating rooms for monitoring both adults and children.
The contract reinforces Senzime's position as a trusted vendor in the US market, particularly as hospitals adopt new practice recommendations mandating quantitative neuromuscular monitoring. Senzime's TetraGraph system is used in hundreds of leading hospitals worldwide, helping anesthesiologists accurately manage neuromuscular blocking drugs and ensure safe patient recovery post-surgery.