Dynamic Code Raises SEK 60 Million in New Issue of Shares
The Health Tech company Dynamic Code, based in Linköping, has, through a directed issue of shares to new and existing owners, raised SEK 47.6 million for continued expansion. An additional SEK 12.4 million is expected to be added through a new shares issue via Pepins.
Dynamic Code converts the latest DNA research into products that improve the care chain, bringing health, diagnosis and treatment closer to the consumer. Examples include self-testing for a variety of illnesses such as infections, STI's, intolerances, as well as dietary and lifestyle tests. The consumer's test result is securely linked to healthcare providers, pharmacies and follow-up treatment via a wholly-owned technical platform. This results in the patient receiving a response more quickly, safely and easily, with caregivers able to diagnose patients without them having to leave home. Dynamic Code is unique in that it owns the entire chain, from testing to technology, analysis and logistics, and this lays the foundation for a highly scalable business model.
The company was founded by DNA expert Anne Kihlgren, and with its diagnostics efficiency, has established a strong position in the telemedicine chain, which was not least noticeable in the interest shown in the capital round, when SEK 47.6 million was underwritten. "It is gratifying that so many existing owners choose to continue supporting the company."
- “We are very impressed with Anne and her Linköping team, and it was obvious to us that we should continue investing. We remain the largest single external owner and together with the company, look forward to enabling diagnostics and quality assurance in the future digi-physical care chain," said Sara Wimmercranz, founder of Backing Minds.
Now, those who missed the subscription have a second chance, with part two of the capital-raising opened via Pepins, and shares offered to both existing and new shareholders. The flotation opened on 24 February and runs until 20 March.
Dynamic Code's first flotation via Pepins in 2017 was fully subscribed in a record 39 minutes. The same happened in November 2018. In just 24 hours, the flotation was closed, and the company gained over 450 new shareholders.
Good Growth in 2019
Sales developed positively in 2019, especially in the second half of the year when growth was 112 percent. The largest sales growth was in B2B, especially to healthcare providers, which during the year increased by 737 percent, and with pharmacies and other retailers which increased by 60 percent. The company collaborates with several healthcare providers in Sweden, Denmark and Norway.
- "I am convinced that good growth and success will continue in new market segments, not least internationally. The market for e-healthcare is growing strongly and Dynamic Code is uniquely positioned for growth," says Anne Kihlgren, founder and CEO of Dynamic Code.
Precision Diagnostics That Can Revolutionise Primary Care
More than 10 million annual visits to primary care are caused by underlying bacterial, fungal or viral infections. It is necessary to be able to take a sample from the patient quickly and safely. This is now possible, even remotely, with Dynamic Code diagnostic tools which have now been developed and adapted for infection diagnostics in primary care.
In this way, hard-pressed primary care is relieved, while the entire care chain becomes both faster and safer, not least from the patient's perspective.
- "Until now, infections have required a physical meeting for the doctor to be able to take a test and make a diagnosis. With our self-test, the patient can now stay at home. It saves considerable financial resources, reduces the risk of infection and allows medically competent healthcare professionals to prioritise the neediest patient groups," says Anne Kihlgren.
For more information, please contact:
Anne Kihlgren, Founder and CEO of Dynamic Code
070 819 16 21