Baar (pta027/03.07.2019/21:30) - Baar, July 03, 2019
As stated in the press release of November 2018 and the annual report for the business year 2018/19, Sensimed SA requires additional funding. Without these additional means, the required medical studies for the commercialisation of the product in the USA and Japan and the development of a second product (which consists of a pressure sensor, integrated in a diagnostic lens, based on the same technology platform as the product Triggerfish) cannot be realised. As a first step the company had secured a bridge financing amounting to CHF1,3 million in autumn 2018. New Value AG participated in this round with CHF 0,05 million.
For a first financing round, the company set a goal to collect commitments for at least 50% of the necessary funds. However, by the end of June 2019, this goal was not achieved. Under consideration of the strained liquidity situation, the board of Sensimed SA will take up contact again with existing shareholders to close the first part of the financing round. This would secure the necessary funds to continue the current activities in the commercialisation and development of its products and to provide sufficient time to conclude further commitments from potential investors.
Based on the uncertainty of the current financing round and, due to the time pessure to secure the needed funds, an expected lower valuation of Sensimed SA, the Board of Directors of New Value AG has decided to adjust the valuation of Sensimed SA by CHF 1`743`000. This adjustment impairs the NAV (Net Asset Value) of New Value AG by CHF 0,53 per share.
About New Value
New Value AG, which is listed on the SIX Swiss Exchange, invests directly in private companies with strong growth potential in Switzerland and neighbouring countries. New Value AG provides growth capital to promote innovative business models and supports the companies to market success. The companies included in the portfolio are mainly related to the cleantech and healthcare sectors.
Stock exchange listings: SIX Swiss Exchange (www.six-swiss-exchange.com)
Ticker symbols NEWN (CH)
Security number 1 081 986
Contact New Value AG, Zugerstrasse 8a, CH-6340 Baar, Switzerland
Dr. Bernd Pfister
Phone +41 43 344 38 38
downloads www.newvalue.ch Email: firstname.lastname@example.org