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Brand Change Announcement: AegirBio AB has officially changed its name to Magnasense AB. The new website, www.magnasense.com, launched on 9 July 2024, with redirects from www.aegirbio.com.

AegirBio terminates distribution agreement with NowMed Sweden AB

The board of directors of AegirBio has now received the results of the internal investigation concerning the company’s distributor, which was carried out by external parties. As a consequence hereof, AegirBio terminates the distribution agreement with NowMed Sweden AB.

AegirBio is taking control over the company’s distribution in Asia until an agreement is signed with a new distributor. NowMed Sweden AB is working on transferring all purchase orders from the local distributor to AegirBio, including the purchase order that has already been sent to Thailand. AegirBio is now establishing a direct line of contact with the local distributor of the pre-existing purchase orders in Thailand to secure the volumes, destinations, call-offs on purchase orders and time of delivery. It is also Aegirbio’s intention to hire a regional consultant to further monitor the company’s interests in Asia.

AegirBio is also, with immediate effect, taking control of the current business in Sweden as well as the contact with potential customers in and outside of Sweden.

This press release was published yesterday. This is a translated version of the original press release in Swedish. The information was such information that AegirBio was obliged to make public pursuant to the EU Market Abuse Regulation. The information was released for public disclosure through the contact persons detailed below on 25 October 2021 at 22:15 CET.

About Aegirbio

Aegirbio is a Swedish diagnostics company offering tests to monitor and optimize the dosing of biological drugs by means of a unique, patented technology platform. Biological therapies is the fastest growing segment of the pharmaceutical industry; a quarter of all drugs are projected to be biological in 2020. At the same time, drug concentrations vary tremendously (up to 100 times) in patients that receive biological drugs in standard doses.

The result of this one size fits all-approach is that patients with low drug concentrations do not respond to treatment, while excessive drug concentrations increase the risk of adverse effects in others. The uncertainty surrounding dosing results in overdosing or underdosing in about 55 percent of the cases, which causes unnecessary costs and suboptimal clinical outcomes.

The Company's tests for optimal dosing of biological drugs will be focused on neurological disorders, autoimmune diseases and cancer. In the first quarter of 2020, Aegirbio initiated sales in the U.S. of the MoNATor test for the drug Tysabri, which is used for treatment of the neurological disorder Multiple Sclerosis (MS). Aegirbio’s goal is to launch a total of four tests before 2023. Diagnostics will be offered through laboratory testing as well as in the form of a P.O.C. (Point of Care) test for use in hospitals and health centres. The plan further includes P.O.N. (Point of Need) tests for use at home.