ViroGates has announced the issue of new shares with pre-emptive rights for existing shareholders.
ViroGates has developed positively with solid revenue growth and a doubling of routine customers in recent quarters. COVID-19 has challenged our existing business in the emergency departments in Europe. Due to the unpredictability of the pandemic and the potential impact on the business, we want to ensure that we have sufficient capital to realize the company’s full potential in the long run. In addition, we have identified two initiatives with great potential to increase growth.
ViroGates needs additional capital to invest in two growth initiatives:
1) Obtain reimbursement for the use of suPARnostic® in various markets in Europe
We plan to prepare and submit reimbursement applications in up to eight European markets within COVID-19 and, subsequently, the emergency department. Our strong COVID-19 data can be an effective way to obtain reimbursement, facilitating increased use of suPARnostic®.
2) Begin expansion to the US
We want to start the work of entering the USA with our products. Initially, we will focus on COVID-19 through an “emergency use authorization”. This work will also benefit the company in the longer term to prepare and submit a so-called 510K application for use in emergency departments. In the longer term, we intend to roll out sales via a licensing partner in the US.
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ViroGates is on a positive trajectory with a strong revenue and customer growth in recent quarters. However, the COVID-19 pandemic has challenged the core business. Given the uncertain course of the pandemic and its potential negative commercial impact on the company, ViroGates needs to ensure sufficient runway to realize the full potential in the acute care segment. In addition, ViroGates has identified two initiatives with significant potential that can further boost growth. ViroGates needs additional financing to invest in the two growth initiatives and realize the significant expected spillover effects to existing activities.
“We will use the experiences of the first years as a commercial company to further boost growth.”
– Jakob Knudsen, Chief Executive Officer, ViroGates
Offering and timeline
ViroGates is offering new shares for a maximum of DKK 19 million for the two initiatives and the existing business. In addition to the rights issue, we are in dialogue with Danish lenders about a loan financing of DKK 9-12.5 million.
You can exercise your subscription rights through your custodian (bank) and read more about the share issue in the investment brochure below.
We hope for your support in bringing the initiatives to life and creating a better and more efficient health system for the benefit of all.
Historical financial reports
Interim Report, Q1 2022
Annual Report 2021
2021 was an exciting year for ViroGates. The company delivered revenue growth of 43% and achieved extraordinary scientific results. However, the global COVID-19 continued to affect the business negatively with many hospitals unable to onboard new technologies during a state of emergency. Despite the challenges, ViroGates welcomed several new customers across markets and managed to shift sales further towards clinically relevant products.
Annual Report 2022
Articles of association
Application form – Subscription with and without subscription rights
ViroGates A/S – Certificate of registration
Investor meetings in connection with the Offering
ViroGates have hosted two virtual investor meetings in connection with the offering:
Thursday, 23 June 2022, 14.00 CET: Västra Hamnen Corporate Finance (English).
Friday, 24 June 2022, 10.00 CET: HC Andersen Capital (Danish). .
Tel. +45 2113 1336
Västra Hamnen Corporate Finance
Tel. +46 40 200 250