The "Company" or "AcouSort" refers to AcouSort AB (publ) with corporate registration number 556824-1037
Fourth quarter for the Group
Net sales amounted to TSEK 1,221 (0)
Result before tax amounted to TSEK -2,829 (-6,554)
Result per share* was SEK -0.19 (-0.49)
Equity ratio** amounted to 69% (70%) on December 31, 2024
Full year for the Group
Net sales amounted to TSEK 4,737 (5,534)
Result before tax amounted to TSEK -15,078 (-17,089)
Result per share* was SEK -1.01 (-1.29)
Equity ratio** amounted to 69% (70%) on December 31, 2024
Fourth quarter for the Parent company
Net sales amounted to TSEK 1,252 (0)
Result before tax amounted to TSEK -4,769 (-5,652)
Result per share* was SEK -0.32 (-0.43)
Equity ratio** amounted to 76% (73%) on December 31, 2024
Full year for the Parent company
Net sales amounted to TSEK 4,760 (5,496)
Result before tax amounted to TSEK -15,848 (-13,952)
Result per share* was SEK -1.06 (-1.05)
Equity ratio** amounted to 76% (73%) on December 31, 2024
Significant events during the fourth quarter
On October 9, AcouSort announces that the Company will participate in the DSEV conference in Denmark and the MOVE conference in Serbia, both with focus on the development in research of extracellular vesicles.
On October 23, AcouSort announces that a leading global pharma company evaluates AcouWash for quality control in an R&D setting. Initial revenues amount to EUR 14,000.
On November 6, AcouSort announces that the Company further strengthens its presence in the flow cytometry space, with two important collaborations initiated by placing instruments at University of Ottawa, Canada, and Van Andel Institute, Michigan, USA.
On November 25, AcouSort secured working capital into Q3, 2025. Through a consortium consisting of the company's management, board of directors, founders and major shareholders, AcouSort has received loan guarantees of approximately SEK 4.5 million.
On December 20, AcouSort announces that the collaboration with a US based cell therapy company enters next level of evaluation. The first evaluation phase has generated very promising results, and the collaboration now enters the next phase with the order of evaluation kits at a total value of USD 19,000.
Significant events after the end of the period
On February 10, AcouSort announces that the Company's Board of Directors has decided to bring forward the year-end report for 2024 to Friday, February 14, instead of February 26.
CEO COMMENTS
Sharp focus on partnerships with OEM potential
In the fourth quarter of 2024, we continued to strengthen our presence in the flow cytometry and cell therapy spaces. We also established credit facilities to secure working capital through H1, 2025. Total income in the quarter amounted to SEK 3.2 (1.2) million. For the full year, total income amounted to SEK 10.0 (10.6) million. Total royalty income for 2024 amounted to SEK 3.5 million and is expected to reach at least SEK 5.25 million in 2025.
High activity level to establish new partnerships
AcouSort's core strategy is to achieve commercial success by establishing close collaborations with other companies, with the aim to ultimately establishing OEM partnerships. Our collaboration with Werfen shows that AcouSort has the capabilities to bring our technology into new and exciting products through the important stages of partner evaluation, product development, regulatory approval and finally commercialization. The first contacts with potential partners are typically made at international conferences and trade fairs, and even though we are a very small team we make it a point to be present at different significant international events where we have the possibility to meet new potential partners, as well as continue developing our relationships with existing ones. In 2024, our focus primarily was on cell therapy and flow cytometry conferences.
In summary, our marketing year 2024 was very productive with attendance at a number of conferences where we met with companies that are working on current and next generation cell therapies where AcouSort has the potential to play a vital role. In 2024, we also experienced an increasing interest in our technology for sample preparation from the flow cytometry community, and during the year we have had the opportunity to present our innovative technology at a number of flow cytometry conferences. At CYTO 2024, we were selected to present two posters highlighting the value of acoustofluidic sample preparation. We were also selected to present on the latest new developments in acoustic trapping and acoustic separation at two prestigious conferences - the Gordon Research Conference on Extracellular Vesicles and the Acoustofluidics 2024 conference.
Also, from a global point of view, 2024 was a very exciting year. In North America we showcased our solutions at BIO 2024 in San Diego, USA, and at the ISCT (International Society for Cell & Gene Therapy) in Vancouver, Canada. In Europe, we attended conferences in Denmark, Ireland, Serbia and Sweden. As part of our ambition to reach potential partners around the globe, we attended Global Bio-India, organized by the Indian Ministry of Science & Technology by invitation from the Indian government, and the 1st Brazilian NanoScale Workshop held in Rio de Janeiro, Brazil. The Indian Life Science market is vibrant and has shown a significant growth over the last years, and the workshop in Brazil provided us with an excellent opportunity to reach out to the South American flow cytometry community.
Our global efforts to establish new partnerships will continue in 2025 with, among many other things, attendance at the South Korean medical technology congress KIMES sponsored by the EU Business Hub.
Record number of new collaborations
Our marketing efforts in 2024 resulted in a record number of five new collaborations with commercial potential.
Our benchtop innovation systems continued to be useful in our long-term ambitions to establish OEM partnerships. During the year, we initiated a collaboration with a US-based company active within cell therapy. After an initial evaluation phase which generated very promising results, the collaboration entered into the next phase and the customer is now evaluating the integration of AcouSort's technology with their device.
In 2024 we completed the agreed activities with our global life science partner within the cell therapy field targeting a broader application range of their required cell processes. The parties will now discuss plans for the next step of the collaboration.
In Europe, we initiated a collaboration with a company active in the cell therapy space. Compared to some of AcouSort's other partners, the company is relatively small but has a very interesting innovation agenda. This new partner will use the AcouWash system to evaluate and optimize acoustic sample preparation for multiple sample preparation steps within its manufacturing process.
Together with the French company GenSensor we are now working on a technology to monitor and improve bioreactor culturing with the ambition to target the rapidly growing cell therapy market.
During 2024, we also entered a collaboration with one of the leading manufacturers of flow cytometers in Europe. Efficient sample preparation is a challenge in flow cytometry and AcouSort is experiencing a growing interest from flow cytometry manufacturers to use the company's unique acoustofluidics technology for establishing swift and automated workflows in sample preparation.
Over the years, we have seen that our technology can play an important role in improving diagnostics, cell therapy, and flow cytometry. When a leading pharma company in 2024 placed an order for a six-month rental and application support for an AcouWash system we saw yet another very interesting field emerging, namely quality control. The aim of the project is to determine if AcouSort's technology can be implemented to improve sample preparation in the customer's R&D quality control procedures.
Important collaborations with academia
AcouSort has its roots at Lund University, Sweden, and collaborations with academia continue to play an important part in our efforts to refine our technology and expand its use to new and exciting areas. 2024 was a successful year also in this respect with new collaboration with University College Dublin (studying extracellular vesicles with flow cytometry), and participation in the prestigious EVEREST project comprising of 22 institutions from 11 countries and coordinated by University College Dublin. During the year, we have also successfully collaborated with Dr Vera Tang at the University of Ottawa and Dr. Rachel Sheridan at Van Andel in Michigan developing applications concerning isolation of cells from dissociated tissue samples.
Werfen's launch of a groundbreaking POC system is the commercial highlight of the year
Over the years, AcouSort and Werfen have collaborated on the use of acoustofluidics technology to enable hemolysis detection in point-of-care (POC) diagnostic instruments. Using AcouSort background technology, the companies have jointly developed the acoustofluidic technology now implemented in Werfen's groundbreaking GEM Premier 7000 system for point-of-care blood gas analysis. The new system was launched in July at the 2024 Association for Laboratory Medicine (ADLM) Annual Meeting marking the so far most important milestone in AcouSort's commercial journey.
Outlook
In the fourth quarter of 2024, AcouSort received loan guarantees of approximately SEK 4.5 million. Together with our current cash position, known future revenues and the loan guarantees, the Board is confident that AcouSort can continue its planned activities into Q3 of 2025.
Our ambition now is to continue strengthening our positions in cell therapy, flow cytometry and quality control by continuing to develop existing and future partnerships over the coming year. Most of our current collaborations have great potential to eventually result in partnerships similar to the one we have established with Werfen.
Torsten Freltoft - CEO
ACOUSORT AB
The report is attached below and can also be found at https://acousort.com/investor/financial-reports/
FOR FURTHER INFORMATION ABOUT ACOUSORT, PLEASE CONTACT:
Torsten Freltoft, CEO
Telephone: +45 2045 0854
E-mail: torsten.freltoft@acousort.com
ABOUT ACOUSORT
AcouSort AB (corporate registration number 556824-1037) is an innovative technology company focusing on developing products and solutions for integrated preparation of biological samples. With the help of sound waves, the company's products can separate blood cells, concentrate, purify, and stain cells, exosomes, and bacteria from biological samples. The technology of the company's products is acoustofluidics, where sound waves and microfluidics enable automated handling of samples in a range of application areas, from research on new biomarkers to the development of new diagnostic systems for near-patient testing - so-called Point-of Care (POC) systems. The company's commercialization strategy is based on the already proven business model of providing separation modules to diagnostic system manufacturers for integrated sample preparation as well as to continue the commercialization of the company's research instruments. With the help of the company's products and development of point-of-care tests, new diagnostic systems and treatments are enabled, addressing some of the most challenging disease areas of our time: cancer, infectious diseases, and cardiovascular diseases. AcouSort is listed at Nasdaq First North Growth Market. The company's Certified Adviser is Carnegie Investment Bank AB (publ).
