Concepta PLC Commercial update; Change of registered office (0541S)
06 Luglio 2020 - 08:00AM
UK Regulatory
TIDMCPT
RNS Number : 0541S
Concepta PLC
06 July 2020
Concepta PLC
("Concepta" or the "Company")
Commercial update; change of registered office
Invigorated brand, marketing campaign and consumer website
Concepta PLC (AIM: CPT), the personalised healthcare company,
provides an update on the Company's commercial activities and
successful cost reduction programme, which has allowed additional
funds to be channelled into focused commercialisation efforts.
New commercial launch of MYLO
Today Concepta has relaunched its newly branded home-use
personalised fertility tracking and pregnancy self-testing system,
MYLO (previously called myLotus ). MYLO remains differentiated from
other fertility tests due to its superior technology. It is the
UK's most accurate fertility tracker and the only device to capture
success rates with its own pregnancy testing regime. MYLO is easy
to use and uniquely provides quantitative LH (luteinizing hormone)
testing through the cycle which is essential given that a reliable
determination of the moment of ovulation is critical in targeting
human conception.
The new MYLO brand is being launched today via the Company's new
fully optimised consumer website www.myloworld.com . From Monday 13
July Concepta will launch paid-for digital marketing campaigns and
a fully optimised search engine strategy to drive commercial sales
in the UK. The new marketing strategy is focussed on increasing
brand awareness and is content-rich, providing educational
information for women and couples who are looking to conceive. The
initial focus of commercial efforts will be in the UK to establish
a clear marketing footprint that can then be replicated in new
territories.
New product development
In parallel with the new commercial launch, the Company is also
seeking to ensure customers have access to the best possible
technology and user experience. The next version of the MYLO
tracker is already in advanced stages of development and is on
track to launch before the end of the year. This new version will
be Bluetooth enabled and can connect to a fully redeveloped App
with improved user experience for Android and iOS customers.
Additionally, having signed the App DX agreement with Abingdon
Health in April, the development of a new complementary fertility
testing product is well under way and is part of the Company's
strategy to build out a wider portfolio of innovative and leading
fertility products on a connected platform.
Corporate Reorganisation and Cost Reductions
At the end of last year the new management team had identified a
number of cost reduction opportunities and in January this year the
Company was able to announce that it has already achieved a 30%
cost reduction to the current operating overhead. In addition to
this the Company has also rationalised its manufacturing footprint
and signed an outsourced manufacturing agreement with Abingdon
Health. Excluding transfer costs, this move has halved the
Company's facilities outgoings. Furthermore, a similar 50% cost
reduction of Head office overheads has been achieved by relocating
the Company's Head office to Cardiff, formalising remote working
practices and closing the Bedfordshire office. These savings will
allow the redeployment of funds associated with operational
overheads into commercial activities and R&D investment into
the wider product portfolio.
Change of Registered office
Concepta also announces that its registered office has changed
with immediate effect to The Maltings, East Tyndall Street,
Cardiff, Wales, CF24 5EA.
Penny McCormick, Chief Executive Officer of Concepta plc,
commented:
"The launch of the MYLO brand and our new marketing campaign is
fitting for our proven and reliable technology, and it's been
essential for us to develop a contemporary brand with longevity
that can carry our ambitious strategy and future portfolio
development. We are now moving towards 5,000 App downloads and aim
to invigorate awareness of our product and help inform those who
are currently considering conceiving or who are already on that
journey.
"As part of our marketing efforts we will invest in customer
acquisition and seek to take a leading role in influencing ability
to conceive in the pre-IVF space. Just this week we heard from a
new HFEA report that the NHS funded less than 30% of IVF treatments
in parts of England than in 2018, with m any areas cutting funding
. We will continue to support women and couples through their
fertility pathway, whilst developing a strategy that adds customer
value and support, and gives them the chance to be proactive in
their journey towards natural conception."
Concepta plc www.conceptaplc.com
P enny McCormick , Chief Executive via Walbrook PR
Officer
Maddy Kennedy, Chief Financial
Officer
SPARK Advisory Partners Limited Tel: +44 (0)20 3368 3550
(NOMAD)
Neil Baldwin
Novum Securities (Broker) Tel: +44 (0)20 7399 9400
Colin Rowbury
Walbrook PR Ltd (Media & Investor Tel: +44 (0)20 7933 8780 or concepta@walbrookpr.com
Relations)
Paul McManus Mob: +44(0)7980 541 893
About Concepta PLC ( www.conceptaplc.com )
Concepta PLC is an AIM-quoted pioneering UK healthcare company
that has developed a proprietary productMYLO, targeted at the
personalized mobile health market with a primary focus on hormone
testing and increasing a woman's chances of naturally getting
pregnant and to provide insight to unexplained infertility.
MYLO is currently the only consumer product which allows both
quantitative and qualitative home (self-test) test measurement of a
woman's personal luteinizing hormone (LH) during ovulation and
human chorionic gonadotropin (hCG) hormone level during pregnancy,
facilitating higher conception rates and early diagnosis of
fertility issues. The proposition of MYLO is to empower women to
better understand their hormone levels and menstrual cycle and help
women conceive naturally by identifying their window of fertility
and optimal time for conception.
The Company has received CE-mark certification for MYLO and has
launched its first product in the UK. The Company is preparing
plans to roll-out across the core EU countries in 2020.
MYLO is expected to be beneficial to users who have been unable
to conceive after 6 months of trying. This highly motivated target
group of women won't typically be offered medical intervention
until after 12 months of unsuccessfully trying to conceive, with
IVF not usually offered until after two years of trying to
conceive. Research indicates couples start to take positive action
ahead of this time typically with little medical support to help
them do so.
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END
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