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Option exercise

1 dec - 31 dec

Interview about option exercise

A Swedish innovation that's set to revolutionize the global health industry

Vaccines are vital to ensuring a better future for the world's population. Ziccum sees great potential for improvement in how vaccines are transported and handled today. Through an option exercise, the company plans on taking on a maximum of SEK 15 million. The raised funds will be used, among other things, to spread knowledge about the company's patented powder technology and to secure licensing agreements.

Text: Christian von Essen

Ziccum wants to increase vaccine availability - and lower costs.

In the 1970s, the World Health Organization made a decision that everyone in the world should have access to vaccines in order to attain equality in health while preventing viral diseases. Since then, the WHO's mission has led to strong results, with roughly 86 percent of the world's newborn children today being vaccinated. An impressive statistic, however, the target is set at 95 percent.

To achieve 95% vaccination rates, however, there are bottlenecks, of which access and readiness are the most evident. The WHO and the European Commission have therefore agreed on new guidelines to further increase the proportion of vaccinations between 2021-2030. The most important parameter identified in the agreement is the cooling chain.

- Vaccines are currently transported in liquid or freeze-dried form, which means that they must be stored in the cold. This typically doesn't present a problem in Europe, but can be severly limiting when transporting vaccines to African villages - as well as expensive.

That's what Göran Conradson, CEO of Ziccum says. He worked in Pharmacia in the 1980s with the production of protein-based drugs, and has since worked as a life sciences consultant for the last 20 years.

Corfind Göran Conradson Ziccum

CEO Göran Conradson

“Everyone in the world should have access to vaccines in order to attain equality in health while preventing viral diseases”

Interview about Ziccum

“Det är en teknik som har potential att bli revolutionerande för global hälsa”

Novel way of transporting vaccine

It was when Göran Conradson met with the company Inhalation Sciences that he came across an unassuming, fridge-like appliance. Researcher and lecturer Per Gerde had invented a way to obtain protein-based drugs as powders in small quantities.

- I thought there must be a large untapped area for this technology, says Göran Conradson.

- I thought there must be a large untapped area for this technology, says Göran Conradson. He soon began to sketch a proposal that he presented to Inhalation's management. The technology with its patent was eventually brought into the new company Ziccum, where Göran took on the role of CEO.

- We started researching different types of applications and saw that vaccinations was a compelling area though we had no idea of whether or not it would actually work. Today, there is no doubt that his gut instinct combined with rigorous research led him in the right direction. With Ziccum's solution, virtually any vaccine can be produced in powder form for easy transport without any temperature restrictions. Once in place, the powder is mixed with sterile water and injected as usual.

- It is a technology that has the potential to revolutionize global health. Today, it costs roughly $3.3 million to vaccinate 25,000 people. One third of that cost can be attributed to the refrigeration chain.

Corfind Ziccum

Great opportunity to save lives

In simple terms, there are two typical vaccine contexts: one is the controlled vaccination of newborn babies, where in Sweden, there are a total of 11 different vaccinations a baby must undergo. The second scenario is in the case of a local outbreak of, for example, Ebola, zika virus, measles or yellow fever taking place.

In such circumstances, reliable access to and lightning fast readiness in administering vaccinations is crucial. It is here that Ziccum can make the difference between life and death. Since the cooling chain is removed from the equation, it is both cheaper to buy and easier to store vaccines on site.

Via an option exercise*, Ziccum will now take in a maximum of SEK 15 million.

The technology is proven and the patent needs to be extended. Göran Conradson knows exactly what's now needed to reach global distribution channels.

- We need to invest in opinion formation, both with vaccine companies and non-profit organizations. Generally, NGOs are responsible for procuring vaccines when outbreaks occur in the world, and much of our new capital will go towards raising awareness of this solution for organizations such as Unicef, the Gates Foundation and WHO.

He believes that there is no legal obstacle to switching to powder distribution.

- The regulations do not stipulate that it must be one way or the other; rather, I assume some resistance to change upon introducing our new approach. Therefore, we must convince decision makers that there is a way to manage vaccines that can significantly lower costs and increase accessibility. It could revolutionize global health overall, concludes Göran Conradson.

*Options in Ziccum go to redemption, ie they can be used to subscribe shares, during the month of December (2019). Two options can be exercised against one share at the strike price of SEK 10. If all options (TO 1) are exercised, a total of SEK 15 million will accrue to the company. In other words, the current options exercise can bring a maximum of SEK 15 million to Ziccum.

Timetable for issue and redemption

Before the trade (all dates relate to 2019)

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Two (2) warrants involve the right to subscribe for one (1) new share at a strike price of SEK 10 per share

The last day for trading of TO 1 is Friday, 20 December 2019.

The date for subscription of shares through the exercise of the warrants is from 1 December 2019 to 31 December 2019.


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