Genovis launches a follow-up to FabRICATOR®

Genovis’ products are marketed under the name SmartEnzymes and are largely used in preclinical research and pharmaceutical production. FabRICATOR®Z is a recombinant protein that cleaves an antibody into two parts: a Fab fragment and an Fc fragment. In contrast to Genovis’ best-seller FabRICATOR, FabRICATOR®Z also cleaves a specific type of mouse IgG quickly and more effectively than FabRICATOR and the other enzymes on the market. The product complements FabRICATOR® and FabULOUS® and will be introduced this week at the PEGS conference in Boston.

“FabRICATOR®Z is a product that offers better performance for certain types of antibodies that our customers work with. The improved performance, especially for mouse IgG2a compared with FabRICATOR, also paves the way for new applications, including in diagnostics, where this type of antibody is commonly found. It is gratifying to be able to launch another product that we have developed by working closely with our customers,” says Fredrik Olsson, CEO at Genovis.

For more information about FabRICATOR®Z: www.genovis.com/FabRICATOR_Z

Genovis’ founder Sarah Fredriksson proposed new Chairperson of the company – Vice President Fredrik Olsson appointed new CEO

Genovis’ Board has decided to streamline operations to include only the core business, enzyme products that are primarily used in pharmaceutical research and production. The subsidiary GeccoDots will therefore be spun off and will be financed by external funds moving forward. Sarah Fredriksson will work operationally in GeccoDots moving forward, primarily focusing on commercial development and stable financing.

–      “Fredrik Olsson has been with Genovis since 2002 and has helped to build the company. Fredrik holds a degree in engineering and was born in 1971. As Vice President he has mainly worked with business development, marketing and sales. With his strong leadership skills, Fredrik will contribute to Genovis’ continued expansion and commercial development,” says Sarah Fredriksson.

–        “With Sarah Fredriksson chairing the Board, continuity and expertise within the Group are ensured,” says Mikael Lönn, chairman of the Nomination Committee.

Nomination Committee Proposal to Genovis’ Board of Directors:

The Nomination Committee proposes re-election of ordinary members Jacob Engellau, Kenth Petersson, Mikael Lönn and Lena Mårtensson Wernrud.

The Nomination Committee proposes election of Sarah Fredriksson.

Erik Walldén has declined re-election.

The Nomination Committee proposes that Sarah Fredriksson be elected Chairperson of the Board of Directors.

Sarah Fredriksson is active as a board member of SwedNanoTech AB, Sparbankstiftelsen Skåne’s Riskkapitalstiftelse and the Wahlgrenska Foundation, as well as GeccoDots AB. From 2007 to 2013 she served as an external director appointed by the government on the Board of Directors of Lund University and from 2000 to 2003 she was a director at EURIS AB.

Sarah Fredriksson has 72,324 shares and 360,000 warrants in the company.

NEW PRODUCTS AND SHARPLY INCREASED SALES

Launch of demanded product and best sales figures ever

During the past quarter we received our first confirmation that our new sales strategy, pipeline and focus on our customer offering are producing results. Our sales jumped 45 percent during the first quarter compared with the same period last year. If we look solely at current sales of goods and services, and not at reimbursement for development projects, this represents a 73-percent increase compared with last year.

Sales in the US increased by 51 percent and in Europe by 29 percent. This strong performance can be explained in part by exchange rate effects on the US market, but is mostly an actual increase in sales. We see continued growth in the number of new customers, while the number of individual orders increased by 68 percent compared with the same period last year.

Costs rose by 30 percent, in part due to costs associated with staffing and startup costs for our sales organization in the US. Genovis Inc. has an office in Boston and a warehouse in San Diego. The business is off to a flying start and today we can provide our US customers with full support and 24-hour delivery. The largest cost increase compared with the same period in 2014 is primarily the result of expenses related to the lawsuit against Promega, which has had a negative impact on earnings. However, Genovis has an insurance policy to ensure that we minimize our legal costs in this case.

As part of the development of our pipeline, in March we launched GingisKHAN™, the first of several new enzymes. This enzyme has been in demand in the market and has an estimated market potential of USD 10 million. GingisKHAN is an enzyme that splits an antibody very rapidly at a specific location in the molecule. The product complements FabRICATOR® and FabULOUS®, but can also be used in studies of intact Fab and Fc fragments. This is important for Genovis’ customers in analyses such as in crystallization, studies of bispecific antibodies and for studies of the three-dimensional structure of antibodies. We received the first orders on the same day as the launch and we are excited about our continued work with the launch this spring.

Based on the trend during the first quarter, it would seem that the strategic decisions we made last year are now paying off. We will continue to develop our sales initiatives and launch three more products during the year, with the aim of increasing the number of customers and maintaining sales at a high level.

Sarah Fredriksson

President & CEO

Genovis AB (publ) to publish Q1 2015 report ahead of schedule

The Interim Report for January-March, which was to be announced on May 11, 2015, will be published ahead of schedule. The new publication date for the report is April 15, 2015.

Notice to the Annual General Meeting in Genovis AB (publ)

Proposed Agenda

1.              Opening of the Meeting.

2.              Election of Chairman of the Meeting.

3.              Approval of the voting list.

4.              Approval of the agenda.

5.              Election of one or two persons to verify the minutes.

6.              Determination as to whether the Meeting has been duly convened.

7.              Presentation of the Annual Report and the Audit Report as well as the Consolidated Accounts and the Audit Report for the Group.

8.              Speech by the Chief Executive Officer, after which shareholders will have the opportunity to ask questions of the CEO, the Chairman of the Board and the auditor.

9.              Resolutions

a)             on adoption of the income statement and balance sheet, as well as the consolidated income statement and consolidated balance sheet

b)             on allocation of the Company’s result in accordance with the adopted balance sheet

c)             on discharge from liability of the Directors and the Chief Executive Officer.

10.           Determination of the number of Board members and deputy members to be elected by the Meeting.

11.           Determination of fees to the Board of the Board of Directors.

12.           Determination of remuneration to the auditor.

13.           Election of the Board of Directors and Chairman of the Board.

14.           Appointment of members to the Nomination Committee and adoption of guidelines for the Nomination Committee.

15.           The Board of Directors’ proposal for a motion regarding remuneration guidelines for senior  executives.

16.           Resolution on reduction of share capital.

17.           Amendment to Articles of Association.

18.           A. Resolutions on resolution on preferential rights issue of shares.

                B. Resolution on private placement of shares.

19.             Authorization for the Board to decide on the issuance of shares.

20.             Other matters to be considered at the Annual General Meeting in accordance with the Swedish Companies’ Act or the Articles of Association.

21.             Authorization of the Chief Executive Officer to make such formal adjustments to the resolutions as may be necessary in conjunction with registration and implementation thereof.

22.             Closing of the Meeting.

Item 2 Proposal to chair the meeting

The Nomination Committee proposes that attorney Arne Källén chair the meeting.

Item 9b Resolution on allocation of the Company’s result in accordance with the adopted balance sheet

The Board proposes that statutory reserve be reduced by a maximum of SEK 6,178,264 to cover the loss so that SEK 0 is carried forward.

Item 12 Determination of remuneration to the auditor

The Nomination Committee proposes that remuneration to the auditors shall be paid on approved account.

Item 14 Appointment of members to the Nomination Committee and adoption of guidelines for the Nomination Committee

The Nomination Committee proposes that the Committee for the 2016 AGM will consist of representatives of the four largest shareholders at September 30, 2015, who are not members of the Board. The Nomination Committee shall appoint a chairman from among its members. It is incumbent upon the Chairman of the Board to convene the Nomination Committee. Should a shareholder decline to participate in the committee the right to appoint a representative shall be transferred to the next largest shareholder not represented in the committee. If deemed appropriate as a result of ownership changes, the Nomination Committee shall invite additional shareholders to join the Nomination Committee, though the total number of members may not exceed five. In the event a member of the Nomination Committee leaves the Committee before its work is completed, the Chairman of the Board, if the Nomination Committee deems necessary, shall invite the same shareholder or, if the latter is no longer one of the major shareholders, the shareholder next entitled, in terms of size of shareholding, to appoint a replacement Such a change shall be announced on the Company’s website.

The Nomination Committee will prepare proposals for the 2016 Annual General Meeting for resolution as regards chairman at the meeting, Chairman of the Board and other directors, remuneration of directors and auditors, and principles for appointing the Nomination Committee. The Nomination Committee mandate runs until a new committee is appointed.

The Nomination Committee proposes that remuneration will only be paid for direct costs associated with the assignment.

Item 15 The Board of Directors’ proposal for a motion regarding remuneration guidelines for senior executives

The Board of Directors proposes that the AGM adopts the following guidelines for remuneration to senior executives.

These guidelines are valid for employment agreements entered into after the guidelines are approved by the AGM, and for amendments made afterward to existing employment agreements. The basic principle is that remuneration and other terms of employment for the management and CEO will be competitive to ensure that Genovis AB can attract and retain senior executives.

Fixed remuneration policy

The fixed remuneration to the management and the Chief Executive Officer should be competitive and be based on the individual areas of responsibility and performance.

Variable remuneration policy

Incentive-based remuneration will be limited and linked to predetermined measurable criteria designed to promote long-term value creation for the Company. Variable compensation may not exceed a maximum of 25% percent of the fixed salary and will be set per fiscal year. 

The Board will consider on a yearly basis whether or not to propose a share-related or market value-related incentive program to the Annual General Meeting. The Annual General Meeting makes the decisions regarding such incentive programs.

Conditions for non-monetary benefits, pensions, termination, and severance pay

Pensions

Management and the CEO are entitled to a defined-contribution pension.

Termination and severance pay

For the CEO the notice period is 12 months for the Company and 6 months for the individual.  For management personnel the notice period is 6 months for the Company and 6 months for the individual. Moreover, assuming that the Company gave notice of termination, in certain cases the CEO may be offered 12 months of severance pay.

The Board of Directors may depart from these guidelines if there are particular reasons in an individual case.

The company’s undertaking in relation to senior executives and the chief executive may amount to a maximum of

SEK 5,045,278

Item 16 Resolution on reduction of share capital

The Board proposes that the share capital shall be reduced as follows:

1. The purpose of the reduction is a provision to an unrestricted fund.

2. The Company’s share capital shall be reduced by SEK 3,276,847.80.

3. The reduction will be implemented without redemption of shares.

Following the reduction the quota value will be SEK 0.25.

Resolutions under this item 16 are subject to and conditional upon the Meeting also resolving on (i) amendment of the Articles of Association (item 17) and (ii) preferential rights issue of shares (item 18); both of these resolutions are proposed to the General Meeting.

For a valid resolution under item 16, the Meeting’s resolution must be supported by shareholders representing at least two thirds of both the voting rights and the shares represented at the Meeting.

Item 17. Amendment to Articles of Association

The Board proposes that Annual General Meeting resolve as follows:

A. The Company’s Articles of Association, item 4, shall be amended as follows:

Share capital shall amount to a minimum of five million two hundred fifty thousand Swedish kronor (SEK 5,250,000) and a maximum of twenty one million Swedish kronor (SEK 21,000,000) instead of the current two million four hundred thousand Swedish kronor (SEK 2,400,000) and maximum of nine million six hundred thousand Swedish kronor (SEK 9,600,000).

B. The Company’s Articles of Association, item 5, shall be amended as follows:

The number of shares that the Company may issue shall be a minimum of twenty million (21,000,000) and a maximum of eighty four million (84,000,000), instead of the current minimum of six million

(6,000,000) and a maximum of twenty-four million (24,000,000).

Resolutions amending items 4 and 5 of the Articles of Association are interdependent; the Board therefore proposes that the Annual General Meeting resolve jointly on these proposals.

For a valid resolution under item 17, the Meeting’s resolution must be supported by shareholders representing at least two thirds of both the voting rights and the shares represented at the Meeting.

Item 18 A. Resolution on preferential rights issue of shares

The Board proposes that the Annual General Meeting approve the Board’s proposal to conduct a preferential rights issue of shares in which three (3) existing shares entitle the holder to subscription for two (2) new shares at a subscription price of SEK 1/ share. As a result of this resolution share capital could increase by a maximum of SEK 3,640,942 through the issuance of up to 14,563,768 shares. In the event that all shares are not subscribed for on the basis of subscription rights, allocation of shares shall be made within the scope of the maximum amount of the share issue, at which the Board shall allocate the shares firstly to those who have subscribed for shares on basis of subscription rights, pro rata in relation to their subscription on the basis of subscription rights, secondly to those who have declared their interest to subscribe for shares without subscription rights, pro rata in relation to their declared interest and last to guarantors in proportion to their guarantee undertakings.

Following the completed rights issue, share capital will amount to a maximum of SEK 9,102,355 and the number of shares to a maximum of 36,409,420. The company will raise about SEK 14.5 million before issue expenses, which are expected to be about SEK 500,000. The issue will have a dilutive effect of 40 percent on the holdings of those who do not subscribe to the rights issue for their full stake.

Timetable for rights issue

May 11, 2015                                   Last trading day for the Genovis share including subscription rights for the new issue.

May 13, 2015                                   Record date for participation in the new issue; shareholders registered in Genovis’ share register on this day receive subscription rights for participation in the new issue.

May 18 – June 1, 2015              Subscription period. Subscription with preferential rights through cash payment during the subscription period. Shareholders may report their intention to subscribe throughout the subscription period.

Resolutions on the issuance of shares under this item 18 are subject to and conditional upon the Meeting also resolving on (i) reduction of share capital (item 16) and (ii) amendment of the Articles of Association (item 17); both of these resolutions are proposed to the same General Meeting.

Item 18 B. Resolution on private placement of shares

Principal owner Mikael Lönn proposes that the Annual General Meeting resolve on a private placement with deviation from shareholders’ preferential rights. The private placement of shares will be offered to the underwriters Mikael Lönn, LMK Ventures AB and Aduno AB. As a result of this resolution share capital could increase by a maximum of SEK 113,338.75 through the issuance of a maximum of 453,355 shares. Allotment of shares shall equal the amount paid in guaranteed compensation to the underwriters in accordance with the guarantee agreement. The Board will allot the shares within the framework of the maximum amount of the rights issue and the subscription price will be SEK 1, in line with the price in the rights issue. The subscription period for new shares runs from June 2, 2015 through June 5, 2015. Payment for the issuance shall be by set-off. The new shares carry the right to dividends for the first time on the record date that occurs immediately after the new shares are registered in the Euroclear Sweden AB share register.

The reason for deviation from the shareholders’ preferential rights is to offer the underwriters shares instead of cash payment for the guarantee.

Resolutions on the issuance of shares under this item 18 are subject to and conditional upon the Meeting also resolving on (i) reduction of share capital (item 16) and (ii) amendment of the Articles of Association (item 17); both of these resolutions are proposed to the same General Meeting.

For a valid resolution under item 18 b, the Meeting’s resolution must be supported by shareholders representing at least nine tenths of both the voting rights and the shares represented at the Meeting.

Item 19 Authorization for the Board to decide on the issuance of shares.

The Board proposes that the Meeting authorize the Board, on one or more occasions until the next annual meeting, with or without preferential rights for shareholders, to issue new shares, convertible bonds or warrants. New shares may be paid for in cash and/or in kind or set-off or on other terms. This decision would mean that the share capital is increased up to a maximum total of SEK 1,850,000 through the issuance of a maximum total of 7,400,000 shares at full subscription.

The reason for the possible deviation from shareholders’ preferential rights is to broaden the ownership group, acquire, or facilitate the raising of capital, increase the liquidity of shares, carry out acquisitions, or procure or permit the raising of capital for acquisitions. When deciding on issuances without preferential rights for shareholders, the subscription shall be market-based at the time of the issue resolution.

Resolutions on the authorization for the Board to resolve on issuance of shares under this item 19 are subject to and conditional upon the Meeting also resolving on (i) reduction of share capital (item 16) and (ii) amendment of the Articles of Association (item 17); both of these resolutions are proposed to the same General Meeting.

For a valid resolution under this item, the Meeting’s resolution must be supported by shareholders representing at least two thirds of both the voting rights and the shares represented at the Meeting.

Right to attend the Annual General Meeting

Shareholders who are listed in a printout of the shareholders’ register produced by Euroclear Sweden AB (formerly VPC AB) on April 28, 2015, and have notified the Company of their intention to attend the Annual General Meeting of Genovis AB by 12 noon on April 28, 2015 at the latest are entitled to attend the Annual General Meeting.

Only owner-registered holdings are listed in the register maintained by Euroclear Sweden AB (formerly VPC AB). Shareholders whose shares are registered in the name of a trustee must temporarily register their shares in their own name to be entitled to participate in the Annual General Meeting of shareholders. Shareholders who have nominee-registered shares must request temporary owner-registration, so-called voting-right registration, with their bank or broker holding the shares a couple of banking days prior to April 28, 2015.

Registration

Register to participate at the Extraordinary General Meeting:

• by mail to Genovis AB (publ), Box 790, S-220 07 Lund, Sweden
• by phone +46 (0)46-10 12 30, by fax +46 (0)46-12 80 20
• by e-mail: info@genovis.com

Include the following information when registering:

• name/company name and personal identification number/corporate registration number
• address and phone number
• name and personal identification number of any representative/accompanying representative(s)

Documents

The annual report, articles of association, proxy forms, and documents according to chapter 13 sections 7 and 8 of the Swedish Companies Act will be available at the Company’s office at Scheelevägen 2, Box 790, S-220 07 Lund, Sweden, and on the Company’s website www.genovis.com as of April 15, 2015, and will be sent, upon request, to shareholders who provide their mailing address.

Number of shares and votes

At the time of issuance of this notice, the total number of shares and votes in the company is

21,845,652.

Information at the Annual General Meeting

Shareholders are reminded of their right to request information in accordance with Chapter 7, sections 32 and 57 of the Swedish Companies Act.

Lund in March 2015

Genovis AB (publ.)

Board of Directors

The Board of Directors of Genovis AB (publ) resolves on fully underwritten rights issue and reschedules Annual General Meeting to May 5, 2015

Genovis is experiencing strong confidence in the company’s products, with growing demand in both Europe and the US. The purpose of the rights issue is to be able to maintain the pace of sales and allow for a more powerful expansion in these two markets. Subscription and underwriting commitments have been obtained, corresponding to 100 percent of the total proceeds of the rights issue.

The Board proposes that the Annual General Meeting approve the Board’s proposal to conduct a preferential rights issue of shares in which three (3) existing shares entitle the holder to subscription for two (2) new shares at a subscription price of SEK 1/ share. As a result of this resolution share capital could increase by a maximum of SEK 3,640,942 through the issuance of up to 14,563,768 shares. In the event that all shares are not subscribed for on the basis of subscription rights, allocation of shares shall be made within the scope of the maximum amount of the share issue, at which the Board shall allocate the shares firstly to those who have subscribed for shares on basis of subscription rights, pro rata in relation to their subscription on the basis of subscription rights, secondly to those who have declared their interest to subscribe for shares without subscription rights, pro rata in relation to their declared interest and last to guarantors in proportion to their guarantee undertakings.

Following the completed rights issue, share capital will amount to a maximum of SEK 9,102,355 and the number of shares to a maximum of 36,409,420. The company will raise about SEK 14.5 million before issue expenses, which are expected to be about SEK 500,000. The issue will have a dilutive effect of 40 percent on the holdings of those who do not subscribe to the rights issue for their full stake.

Timetable for rights issue

May 11, 2015: Last trading day for the Genovis share including subscription rights for the new issue.

May 13, 2015: Record date for participation in the new issue; shareholders registered in Genovis’ share register on this day receive subscription rights for participation in the new issue.

May 18 – June 1, 2015: Subscription period, subscription with preferential rights through cash payment during the subscription period. Shareholders may report their intention to subscribe throughout the subscription period.

Resolutions on the issuance of shares are subject to and conditional upon the Meeting also resolving on reduction of share capital and amendment of the Articles of Association; both of these resolutions are proposed to the same General Meeting.

A Memorandum will be sent to the company’s shareholders that will provide the full terms, instructions and more information on the rights issue and Genovis. The Memorandum will be available on the company’s website www.genovis.com beginning on May 13, 2015.

The notice is published in a separate press release and will be published in Post- och Inrikes tidningar and on the company’s website within the next few days.

Genovis is launching a new enzyme product

Genovis’ products are marketed under the name SmartEnzymes and are used in the biotech and pharmaceutical industries for characterization of biologics. Today, about 80% of all antibody-based drugs are based on IgG1 molecules, human immunoglobulin of subclass 1, which is also the most common antibody in the natural composition of human antibodies. GingisKHAN is an enzyme, cysteine ​​protease, which splits IgG1 very rapidly at a specific location in the molecule. The product complements FabRICATOR® and FabULOUS®, but can also be used in studies of intact Fab and Fc fragments. This is important for Genovis’ customers in assays such as in crystallization, studies of Fab parts of bispecific antibodies and for studies of the three-dimensional structure of antibodies. Next week GingisKHAN will be presented at the Analytical Technologies Europe conference in Berlin: Symposium on the Practical Applications including CE, LC and MS in the Biopharmaceutical Industry.

“Genovis’ product FabRICATOR entailed a paradigm shift for the methods that the pharmaceutical industry uses to characterize and analyze biological medicines. The new technology is now accepted and on the path to becoming more broadly established. Our strategy is to ensure that we are first with the next generation of products that support this rapid development. We prioritize products that can further improve analysis results for customers and that can work on several different proteins, and not just antibody-based drugs. In spring 2015 we will launch four new products, which will mean that we are doubling our selection of enzyme products for customers. GingisKHAN is the first out, in part because our customers asked for an enzyme with precisely these characteristics and in part because we see that the product has the potential to attract new customers. We believe that the market for this enzyme can reach the same potential as FabRICATOR,” says Sarah Fredriksson, CEO of Genovis

For more information about GingisKHAN: www.genovis.com/GingisKHAN

Genovis introduces a new service concept

Genovis’ products are marketed under the name “Smart Enzymes” and are used to process antibodies and split them into smaller fragments. To date, the products have been marketed primarily for characterization of biologics. Customers use small quantities of the products in a large number of samples to divide the drug candidate into smaller fragments, which are then analyzed. All of the products are also highly effective with production of larger amounts of antibody fragments, which are required in several different studies in preclinical drug discovery. Genovis is now also focusing on this market and is launching a service through which customers order antibody fragmentation.

Implementation of new technology often requires resources. Buying the products that are necessary to fragment large quantities of antibodies represents an investment for the customer. By offering this service, Genovis can provide customers with quick results and facilitate technology transfer to the customer, thereby minimizing the customer’s technology-associated risk and costs for the actual project. Subsequently, the customer can choose to continue to have Genovis do the work, or buy the required products and carry out the project in-house. Genovis has met a need and has worked closely with customers on projects in the past. Now the company will take the concept to the next stage and actively offer the service as part of its range of services to existing and new customers.

“Our knowledge about our enzymes and the fact that we can process and analyze them on a routine basis allows us to provide high-quality quick results. We have extensive cumulative expertise in-house, and that knowledge is extremely valuable for customers who are new to both the products and the technology. Our service generates revenue by quickly bridging the technology transfer gap to customers and in the long term will open up a new market niche for our products. The combination with our endotoxin-free products allows us to focus on a broad target group for both in vitro and in vivo tests in studies such as target validation in the pharmaceutical industry. Offering a service is completely in line with our strategy for developing new markets in collaboration with our customers,” says Sarah Fredriksson, CEO of Genovis

YEAR-END REPORT JANUARY-DECEMBER 2014

Challenging year brought us closer to our customers, while demonstrating the strength of our products.

After a tough start to the fall, we are pleased to note that fourth quarter sales rose 28 percent compared with the third quarter. Sales also increased slightly compared with Q4 2013. Sales fell mainly on the US market during the third quarter, but even here, sales are recovering. The number of new customers continues to grow as a result of the strategic shift from distribution through a number of partners to direct sales, though more importantly, because our products are reaching more customers. Genovis is now marketing its products directly in Europe and through an American wholly owned subsidiary in the US. In other parts of the world Genovis sells directly and via Sigma-Aldrich.

Over the course of the year our costs rose 11 percent. The costs are mainly related to the restructuring of sales channels, intensified sales activities and expenses related to the lawsuit against Promega. However, Genovis has an insurance policy to ensure that we minimize our legal costs in this case. Overall, with declining revenue especially during the third quarter, earnings for the period on an annualized basis fell short of our objective, mainly because of competition under circumstances that could not be predicted. New situations can arise at any time and our philosophy is to be proactive by increasing interaction and cooperation with our customers, intensifying our marketing initiatives, and continuing to focus on our strategic product pipeline. In this way, we will reverse the trend of this past autumn to achieve growth in 2015.

Genovis’ product FabRICATOR® has initiated a paradigm shift for the methods that the pharmaceutical industry uses to characterize and analyze biological medicines. This new technology is now accepted and on the path to becoming more broadly established. Our strategy is to ensure that we are first with the next generation of products that support and develop this method of analysis. Our customers have strong confidence in us as a result of FabRICATOR. We will take advantage of synergies based on this confidence by growing with more products which, like FabRICATOR, will give the customer results at a lower cost and with high reliability. Consequently we are prioritizing products in Genovis’ pipeline that can be used for several different proteins, and not just antibody-based drugs. These easy-to-use products enable the customer to carry out several different analyses in addition to those already made possible by FabRICATOR. Because of new discoveries in the fourth quarter, we wanted to explore potential IP issues before a launch, but in 2015 we will launch at least three new products.

Genovis is also prioritizing products intended for automation and miniaturization of characterization of biological medicines. The MAbCheck project, in which Genovis is developing automated analysis solutions together with researchers from Lund Institute of Technology, has reached the proof-of-concept stage, which will now be verified by a number of major industrial players. The results will be presented during the spring of 2015.

Our subsidiary GeccoDots concluded the VINNOVA-financed project aimed at developing a new contrast agent for ultrasound with very good results during the fourth quarter. The next step in the project is to complete the prototype and conduct toxicity and proof-of- concept studies for diagnosis of lymph nodes in an animal model.

All in all, 2014 posed certain challenges, but the year also brought positive developments, especially regarding sales of the products launched in 2013. This trend appears to be continuing. Our work with new products is promising for product launches this year and for Genovis’ growth in new markets in the long term.

Sarah Fredriksson

CEO, Genovis AB

Genovis establishes subsidiary in the US

The subsidiary will sell all of the parent company’s products on the North American market, which today represents 60 percent of Genovis’ total sales. Customers include the major pharmaceutical companies, which use the products to screen new drug substances and for quality control in development and production of new antibody-based drugs. The subsidiary will be headed by John M. Lindsay and Philip Onigman, both of whom have extensive experience in sales and business development in the Life Science market.

“We are now pursuing our strategy and establishing a presence with direct sales in our largest market. Proximity to customers, accessible and skilled support, a local warehouse and efficient deliveries are important cornerstones of our offering. We are very pleased to have John Lindsay and Philip Onigman join us in our US operations. Both are well-established and have extensive experience in our industry. We look forward to an exciting and successful collaboration,” says Sarah Fredriksson, CEO Genovis

John M Lindsay

John began his career at Millipore Corporation and quickly advanced to executive vice president and business area manager of several divisions of the company. In 2000 John founded SciPartners, with the objective of building a platform for development of early European companies and brands in North America. John’s focus is the Life Science market, and over the past 14 years he has successfully built up sales and marketing that led to rapid growth and increased revenues for many companies.

Philip Onigman

Philip is principal and founder of Grand Street Consulting, specializing in marketing for the Biotechnology Industry. Philip earned a BS in Microbilogy/Biochemistry from the University of New Hampshire, and worked in clinical and research laboratories at Massachusetts General Hospital and Tufts Medical Center. Philip has served in commercialization and business development roles including Technical Support, Market Development, Product Management and Sales at Millipore, Lionbridge Technologies, GTC BioTherapeutics and AdvanDx.