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ZICCUM AB (publ) Q4 and Year-End Report 2018

Ziccum CEO Göran Conradson: “We have a competitive offer in a huge, extremely interesting market, a market where we can deliver significant benefits to patients, and create value for our shareholders.”

Year-end report in brief

The subscription period for Ziccum’s issue of units ended on October 3, 2018, in advance of listing on Spotlight. The share issue amounted to approximately SEK 15.8m and was subscribed at approximately SEK 52.7m which corresponds to a degree of subscription of approximately 334%
Ziccum’s shares were listed on Spotlight on October 25, 2018
Ziccum achieved proof-of-concept during the year by drying a selection of anti-bodies and received it’s initial order for a feasibility project for a client with a substance in pre-clinical stage of development

Significant events after the reporting period

Ziccum reported on January 10, 2019, that the company had filed a patent application regarding Adenovirus with a dry and temperature-stable formulation which meets the WTO’s requirements for CTC-status

Selected financial data

ooo"s	2018 Oct-Dec	2017 Oct-Dec	2018 Jan-Dec	2017 Apr-Dec*
Net sales	35	–	227	–
Other income	–	–	179	–
Operating profit/loss	-1 734	-123	-4 210	-338
Result after tax, SEK	-1 734	-174	-4 571	-389
Total assets	12 785	1 737	12 785	1 737
Cash flow for the period (SEK)	9 721	28	10 256	280
Cash flow per share (SEK)	1.80	0.01	2.85	0.10
Cash	10 536	280	10 536	280
Earnings per share before and after dilution (SEK)	-0.32	-0.06	-1.27	-0.14
Equity per share (SEK)	2.00	0.57	2.00	0.57
Equity ratio (%)	94%	98%	94%	98%
*Company founded on April 5, 2017

CEO STATEMENT

Many major drugs cannot today be produced in dry form, but only as liquids that have to be stored between 4 – 8 degrees C. This involves complex logistics and transport, with most biological drugs and vaccines requiring major resources in the form of packaging, handling and transportation, in turn leading to many patients not being able to access treatment or vaccination.

Our unique, patented technology LaminarPace makes it possible to produce biological drugs in dry form. Dry form is always sought after when developing new drugs. It has many benefits: It increases the product"s stability and shelf life, facilitates transportation throughout the supply chain, from factory to patient, and enables the distribution of drugs to new places where refrigerated and freezer storage is a major challenge. It means too that patients who treat themselves at home can also access safer and more effective drugs.

We’re now continuing our evaluation and development of new dry forms, with positive results. With LaminarPace we can apply for patents for new forms of preparation, so broadening our existing patent on the basic LaminarPace methodology, which is the backbone of Ziccum. Based on these positive results, in January 2019 we submitted a patent application on a very important component in the development of new vaccines – Adenovirus. Our study results confirmed our assessment that we have an important offering for the industry and the market—one that can solve problems no one else has so far been able to solve, giving Ziccum a positive position in a large and growing market.

We have previously been awarded the Phase 1 grant in Horizon 2020 – the most ambitious and comprehensive funding program for research and innovation in EU history. During this quarter we started our Phase 2 application, aiming, as previously communicated, to submit it in early Q2 2019. We have also begun discussions with a number of vaccine companies and academic groups who have shown interest in Ziccum"s technology and which we consider could be of great interest when it comes to the commercialization of our offering.

To sum up, we have a competitive offer in a huge and extremely interesting market, a market where Ziccum can deliver significant benefits to patients, and create value for our shareholders.

Göran Conradson, CEO

NB: This is a partial translation of the Swedish interim report. If any discrepancies exist, the Swedish version shall prevail.

TO READ THE FULL REPORT IN PDF PLEASE GO HERE.

For more information about Ziccum, please contact:

Göran Conradson: CEO Ziccum AB
E-mail: conradson@ziccum.com

Mob: +46 709 61 55 99

About Ziccum

Ziccum AB (publ) develops new patented formulations of biological drugs where sensitivity to temperature differences, especially during transportation, currently limits medical and so commercial potential. The company’s patented technology, LaminarPace, develops dry powder formulations of drugs and vaccines that currently only exist in liquid form. By doing so Ziccum can increase the availability of drugs and vaccines in existing markets—and open up new ones.

The information above was provided by Ziccum AB (publ) through the above contact person, for publication on February 21, 0900, 2019.

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Ziccum Q4 2018

Marknadsmeddelande 39/19 – Korrigering av Ziccum AB:s teckningsoptions, ZICC TO 1, FISN kod

Ziccum AB:s teckningsoption, serie TO 1 handlas från och med den 13 februari 2019 men en ny FISN kod. Den nya FISN koden är ZICCUM/OPT RTS 20191231

Information om teckningsoptionen:
Kortnamn: ZICC TO 1
Aktienamn: Ziccum TO 1
ISIN-kod: SE0011641950
Orderboks-ID: 4NGA
CFI: RMXXXX
Gammal FISN: ZICCUM/OPT RTS 20181003
Ny FISN: ZICCUM/OPT RTS 20191231
Marketsegment: SPSE
MIC Code: XSAT
Ticksize/likviditetsband: A (Other instruments)

Stockholm den 12 februari, 2019

Spotlight Stock Market
08-511 68 000
info@spotlightstockmarket.com

Se marknadsmeddelande

See market notice

Ziccum AB submits patent application for new temperature-stable, dry-powder formulation of Adenovirus, a key global vaccine ingredient

Huddinge, 10 January 2019. Ziccum AB (publ) has submitted a formal patent application on a new dry-powder, temperature-stable formulation of Adenovirus—a key ingredient in vaccines against Malaria, Ebola, meningitis and HIV, diseases which affect over 100 million people globally every year. The dry-powder formulation was carried out using Ziccum’s technology for air-drying biologic therapies.

Temperature demands on vaccines are getting tougher. As part of its strategic mission to vaccinate more people worldwide without having to rely on costly, complex cold-chain refrigeration systems, the WHO now requires that vaccines be stored at +40 degrees C for at least three days in order to earn CTC (Controlled Temperature Chain) approval (1).

Ziccum’s new, active, temperature-stable, dry-powder formulation of Adenovirus can be stored at +40 degrees C for at least one week with no loss of active ingredient, not only meeting, but surpassing, WHO CTC requirements. The formulation is unique, according to the company, and could lead to a significant global increase in the number of people who can be vaccinated. The company has submitted a formal patent application for the new formulation.

Cracking the Cold Chain

“This solves a problem no one has been able to solve before,” says CEO Göran Conradson. “We can formulate vaccines that are safe and stable to transport, without needing costly refrigeration equipment during the last, crucial step in reaching the people in most need. We do it using Ziccum"s LaminarPace TM drying technology. Adenovirus can now be dried and stored at +40 degrees C for a week—then reconstituted back into an active, injectable vaccine by adding sterilized water. This could have a huge impact on a market worth 18 BUSD in 2017, and forecast to grow to 25 BUSD in 2021 (2). Clinical trials are currently underway using Adenovirus in vaccines against Malaria, Ebola, meningitis and HIV, diseases that affect well over 100 million people a year. Ziccum"s new dry formulation could put these and other vaccines within the reach of millions more people. Adenovirus is also used in gene therapy, with over 500 clinical trials ongoing3, and other treatments including cancer treatment of solid form tumours such as breast cancer, lung cancer, pancreatic cancer and prostate cancer. All these are significant indications of the powerful commercial potential of Ziccum’s unique formulation technology.”

Needle-less vaccine potential

The dry formulation powder generated by Ziccum"s LaminarPace ™ technology is rapidly dissolved by adding sterilized water, after which vaccination or injection can be carried out directly. However, results from the research which formed the basis of the patent application, also show that the active dry powder generated could also be used for other forms of needless vaccination, such as inhalation. This would further increase the number of people who could be vaccinated or treated—without even any need for sterilized water or syringes.

1) https://www.who.int/immunization/programmes_systems/supply_chain/ctc/en/

2) Global Data, 2018

3) The Journal of Gene Medicine Clinical Trial (http://www.abedia.com/wiley/vectors.php)

For more information about Ziccum, please contact:

Göran Conradson: CEO Ziccum AB
E-mail: conradson@ziccum.com

Mob: +46 709 61 55 99

About Ziccum

The information above was provided by Ziccum AB (publ) according to EU Market Abuse Regulations. The information was provided, through the above contact person, for publication on January 10, 2019.

PDF

ZICCUM AB Interim Report Q.3 2018

Stockholm, Sweden, November 15 2018, Summary of interim report – Third Quarter and first nine months 2018: During the first nine months, Ziccum AB generated capital through borrowing 2.25 MSEK, achieved proof of concept by drying selected antibodies, and received its first order regarding a feasibility project for a customer with a substance in preclinical development. On October 3, 2018 the subscription period for Ziccum"s new issue of units ahead of the planned listing on Spotlight was completed. The new share issue of 15.8 MSEK was subscribed to approx. SEK 52.7 million, a subscription ratio of approx. 334%. Ziccum"s shares were listed on Spotlight on October 25, 2018.

July-September 2018

0 KSEK

(0) Net sales

-1 714 KSEK

(-103) Operating profit

-0.62 SEK

Earnings per share before dilution

-0.62 SEK

Earnings per share after dilution

January-September 2018

192 KSEK

(0) Net sales

-2 442 KSEK

(-215) Operating profit

-0.93 SEK

Earnings per share before dilution

-0.93 SEK

Earnings per share after dilution

CEO statement

Many pharmaceuticals cannot be formulated as dry powders. It entails complicated and expensive handling, leading to many patients not getting treatments and vaccinations. This is where Ziccum can make a difference. And I’m delighted to welcome so many new shareholders on board helping us as we continue on that journey.

We have a unique, patented technology in LaminarPace. It makes it possible to manufacture biological pharmaceutical as stable dry powders. There are many advantages with dry powder; transportation, handling and storage are all simpler. Stable dry powders make it possible to reach patients all over the world even where access to the cold temperature chain is limited, and to enable patients with chronic diseases to take their therapies with them wherever they go.

Our evaluation and development of new formulations continues with very good results. Results we intend to apply patents for, so broadening our Intellectual Property portfolio, and adding to our already existing patent on LaminarPace’s methodology and system. We have already started with a new patent application based on these encouraging results, and these results strengthen our position on the international market. We solve problems no one has been able to solve previously – giving Ziccum strong opportunities in a global and growing market.

The European Commission granted our application for phase 1 Horizon H2020 funding– the most ambitious program for innovation and development in the history of EU. This further strengthens our belief that we have a very strong and competitive offering, which has the potential to make a significant impact on large patient populations. We will shortly commence our report for Phase 1, and start the Phase 2 application to be submitted in the beginning of Q2 2019.

In conclusion – we have a strong and competitive offering in a very interesting and large market. A market where we can make a significant difference for patients, and create value for our shareholders. I wish all new shareholders a warm welcome, and I am look forward to reporting to them on our continued journey.

Göran Conradson

Chief Executive Officer

Highlights, Q.3 (July-September)

During the third quarter a new share issue was initiated ahead of the planned issue of 15.8 MSEK before issue costs which was fully subscribed as of October 3, 2018.

Highlights during reporting period (January-September)

In January, capital was raised through loans totalling 2.25 MSEK
The company received its first order regarding a feasibility project for a customer with a substance during preclinical development
Achieved proof-of-concept in antibody test. New results showed that Ziccum"s system for drying, LaminarPace® can produce a dry, stable powder of immunoglobulin antibodies – with retained activity
At the AGM on 25 April, new Board members Ola Camber, Mattias Münnich and Kristian Kierkegaard
On July 11, it was announced that Ziccum had been awarded 0.5 M Euro funding in Horizon 2020 phase 1 for a preliminary study for the scaling up of a major and aseptic system for GMP production of therapies. The funding is a clear quality stamp on Ziccum’s technology and business potential

Highlights after reporting period

On October 3, 2018, the subscription period of Ziccum"s new issue of share units was completed prior to its planned listing on Spotlight. The new issue of 15.8 MSEK was subscribed to approx. 52.7 MSEK including subscription commitments, a subscription ratio of approx. 334%. Ziccum thus raised a total of 15.8 MSEK before issue costs of approx. 1 MSEK, with number of shareholders increasing to about 1000. The offer included a maximum of 3,000,000 units, which means max 3,000,000 shares and max 3,000,000 warrants of series TO1. Two warrants of Series TO1 give the right to subscribe for a new share with subscription period in December 2019 at one exercise price of SEK 10 per share.

Following the completed rights issue, Ziccum is no longer a subsidiary of Inhalation Sciences

Sweden AB, however, Ziccum is an associated company of Inhalation Sciences.

On October 25, 2018, Ziccum"s shares were listed on Spotlight Stock Markets.

To read the full Q.3 Report in PDF go here.

For more information about Ziccum, please contact:

Göran Conradson: CEO Ziccum AB
E-mail: conradson@ziccum.com

Mob: +46 709 61 55 99

About Ziccum

Read as PDF

Ziccum AB (publ) confirms first day of trading on Spotlight to be Thursday 25 October 2018

STOCKHOLM, SWEDEN – 22 October, 2018. On Thursday 25 October 2018, trading begins in Ziccum AB"s shares and warrants of series TO 1 on Spotlight. The share will be traded under the designation ‘ZICC’, with ISIN code SE0011415595. Warrants of the series TO 1 will be traded under the trade designation ‘ZICC TO 1’, with ISIN code SE0011641950.

Issue oversubscribed before listing

The listing on Spotlight follows a share issue of units that raised 15.8 MSEK before issue costs for the company. The new issue was subscribed to approximately 52.7 MSEK including subscription commitments, which corresponds to a subscription ratio of approximately 334%. Following the issue the company has approximately 1000 shareholders.

Terms of warrants in brief

Holdings of two (2) warrants of series TO 1 entitle the holder to subscribe for (1) newly issued share at a price of 10.00 SEK. Subscription of shares on the basis of warrants may take place from 1 December 2019 until 31 December 2019.

Background

Ziccum was founded as a spin-out from Inhalation Sciences, which was successfully noted on Spotlight (formerly Aktietorget) in September 2017. Ziccum"s vision is to provide safe and effective drugs in all contexts and environments around the world, minimizing the need for costly and impractical cooler and freezer transport and storage.

Advisors

Fredersen Advokatbyrå AB has acted as legal adviser in connection with the issue. Aqurat Fondkommission AB has acted as the issuer.

For more information about Ziccum, please contact:

Göran Conradson: CEO Ziccum AB
E-mail: conradson@ziccum.com

Mob: +46 709 61 55 99

About Ziccum

Ziccum AB (publ) develops new patented formulations of biological drugs where sensitivity to temperature differences, especially during transportation, currently limits medical and so commercial potential. The company"s patented technology, LaminarPace, develops dry powder formulations of drugs and vaccines that currently only exist in liquid form. By doing so Ziccum can increase the availability of drugs and vaccines in existing markets—and open up new ones.

PDF

Ziccum AB (publ) share issue oversubscribed before listing on Spotlight

STOCKHOLM, SWEDEN 9 October: On October 3, 2018, the subscription period for Ziccum"s new issue of units was completed, prior to its planned listing on Spotlight. The new issue of 15.8 MSEK was subscribed to approximately 52.7 MSEK including subscription commitments, a subscription ratio of approximately 334%. Ziccum will therefore receive a total of 15.8 MSEK before issue costs of approx. 1 MSEK, while increasing the number of shareholders to approximately 1000. Settlement notes for units subscribed without preference under the new terms and conditions was issued on October 8, 2018.

CEO Göran Conradson’s statement:

"It’s gratifying that the new issue has been fully subscribed and we can now begin speeding up the development of our projects. We believe that Ziccum’s unique technology has significant medical and commercial potential, and I look forward to keeping investors informed as our projects move forward and approach market. I’d like to offer a warm welcome to all Ziccum AB’s new owners!"

Ziccum was founded as a spin-out from Inhalation Sciences, which was successfully noted on Spotlight (formerly Aktietorget) in September 2017. Ziccum"s vision is to enable the delivery of safe and effective drugs to all environments worldwide, minimizing costly and impractical fridge and freezer transport and storage.

Advisors

Fredersen Advokatbyrå AB has acted as legal adviser in connection with the issue. Aqurat Fondkommission AB has acted as the issuer.

For more information about Ziccum, please contact:

Göran Conradson: CEO Ziccum AB

E-mail: conradson@ziccum.com

Mob: +46 709 61 55 99

About Ziccum

Ziccum AB (publ) develops new patented formulations of biological drugs where sensitivity to temperature differences, especially during transportation, currently limits medical and so commercial potential. The company"s patented technology, LaminarPace, develops dry powder formulations of drugs and vaccines that currently only exist in liquid form. By doing so Ziccum can increase the availability of drugs and vaccines in existing markets—and open up new ones.

PDF

Ziccum CEO Göran Conradson tours Swedish investors: `powders, not liquids the future for biologic therapies”

“Biologics are one of the fastest-growing therapies in the world, yet 80% are still formulated as liquids—so they’re extremely costly to transport. We have a solution”, Ziccum CEO Göran Conradson is presenting to investors in Stockholm, Gothenburg and Malmö on the Ziccum investment case: formulating vaccines and biologics from liquids to powders.

Göran Conradson, CEO for Ziccum AB, is a man on a mission: To formulate biologic therapies, including vaccines, proteins and antibodies, as powders not liquids. Making them more resilient and cost-effective to transport, and enabling Ziccum’s clients to reach new markets, and license out new patents from the company.

Conradson has now been touring Sweden’s main cities with the investment case. To catch up with him, watch all his investor presentations on ziccum.com here. He has presented to investors in Gothenburg at Aktiespararana day, in Malmö for the same event, and at an FS Market event in Stockholm.

Göran Conradson has worked continuously with protein in all its forms throughout his career: From manufacturing, analysis, and novel therapeutics—back to manufacturing as Chief Executive Office of Ziccum.

For more information on Ziccum, please contact:

Göran Conradson: CEO
Email: conradson@ziccum.com

Mob: +46 709 61 55 99

About Ziccum AB

Ziccum AB develops and commercializes the patented spray-drying instrument LaminarPace®. LaminarPace is an innovative, CE-labelled instrument that dries small amounts of drug substances with very low losses. The vast majority of pharmaceutical projects prefer substances in dry powder form, as it increases their stability, durability and simplifies logistics and transportation. LaminarPace is also unique in its ability to handle temperature-sensitive materials such as proteins and peptides.

PDF

Ziccum AB (publ) approved for listing on Spotlight

STOCKHOLM, SWEDEN – 14 September, 2018. Ziccum AB (publ) has been approved for listing on Stockholm stock market Spotlight, provided the minimum limit of the companys new issue and the marketplaces proprietary spread requirements are met. The subscription period for the companys new share issue will begin on September 19 and continue until October 3, 2018. The first day of trading on Spotlight is scheduled for October 25, 2018.

The Investment Memorandum, Teaser and Application Form for the issue will be available on the companies respective websites, www.ziccum.com and www.spotlightstockmarket.com by latest 18 September.

Preference for Ziccum and Inhalation Sciences shareholders

The new issue will take place with preference for Inhalation Sciences shareholders. Shareholders in Ziccum will receive a unit right for each held share. A unit right entitles you to subscribe to a unit consisting of one share and one subscription option, in Ziccum.

Shareholders in Inhalation Sciences are offered priority subscription in the listing issue, through Inhalation Sciences distributing their unit rights. For every four shares in Inhalation Sciences, one unit right is obtained in Ziccum. The last day for trading in Inhalation Sciences shares, including the right to unit rights, will be September 12, 2018.

Ziccum: Offering and opportunity

Ziccum develops new formulations of biological drugs. With the companys patented technology LaminarPace, dry formulations of products that are currently available in liquid form are developed. This allows Ziccum to open up new markets, create new patents and generate revenue from the sale of licenses to the new form of preparation.

By being able to do this, Ziccums vision is enabling the delivery of safe and effective dry powder drugs to any environment in the world. So minimizing the need for costly and impractical global ‘cold chains’, or refrigeration and freezer transport and storage chains.

The technology has been validated during many years and in a series of studies and can be applied to both existing drugs, and new drugs in development.

?> 95% of all traditional drugs (so-called small molecules) are formulated in dry form, such as tablets or powders. Making them cheap and safe to transport and handle. But for biological therapies, the corresponding figure is scarcely 20%. This is largely due to how sensitive biological therapies are to extreme temperatures—thus ruling out the use of conventional drying therapies like freeze or spray drying.

Ziccums business model is based on evaluating and validating dry formulations of biological drugs and then entering into partnerships with major pharmaceutical companies. Revenue is generated through milestone payments and royalties when a new form of preparation is launched onto the market. Ziccum creates value for its customers by offering a more stable formulation with longer durability and easier storage and transportation requirements. This gives a competitive advantage, cost savings and the opportunity to address more and bigger markets. New forms of preparation can also be protected by new patents so that the competitive advantage lasts over time.

Ziccum was founded as a spin-out from Inhalation Sciences, which was successfully noted on Spotlight (formerly Aktietorget) in September 2017.

CEO Göran Conradson comments:

"Ziccum is a company in the early commercialization phase, but with a proven technology and methodology that has been developed over years and validated in a number of projects. We’re targeting the biological therapies market. It’s making strong advances, but its history and needs show a sector that has been crying out to be able to formulate and manufacture its products in a dry form, but has been lacking a technical solution.

"Listing Ziccum on Spotlight is an exciting challenge. A listing enables us to drive our commercialization plans further, with more resources and speed to help LaminarPace reach its potential.”

Reasons for the share issue

Ziccum has a validated technology that can now be commercialized. The company needs capital to further develop and process its pipeline of project substances, in order to carry out the business model based on partnership and licensing of the Companys technology, to prepare the technology for commercial production capacity and to invest in building a strengthened patent portfolio. Capital raised from the issue will be primarily used for processing and further developing selected project substances, and commercializing the Companys technology.

Listing issue in brief

– Subscription period: September 19 – October 3, 2018

– Subscription price: 5.26 SEK per unit, which corresponds to 5.26 SEK per share. The warrants of series TO 1 are issued free of charge.

– Emissions volume: maximum 3,000,000 units. The lowest limit for the execution of the issue is 1 901 141 units, corresponding to 10 MSEK.

– Unit: One unit consists of one share and a non-subscription warrants series of TO1. Two warrants of series TO 1 entitles you to subscribe for a new share at the closing price 10 SEK during the period 1-31 December 2019.

– Minimum subscription item: Minimum subscription item is 1 unit for those subscribing with preferential rights and at least 1,000 units for those who subscribe without preferential rights.

– Pre-money valuation: Approximately 15.8 MSEK

At full subscription, Ziccum is initially allocated approximately 15.8 MSEK before issue costs, which are estimated to amount to approximately 1.0 MSEK. In full utilization of adhering warrants, Ziccum will be further supplied with approximately 15.0 MSEK before issue costs, which are expected to amount to approximately 0.5 MSEK.

Ziccums share and warrants of series TO1 are scheduled to be raised for trading on Spotlight. The first day of trading is scheduled for October 25, 2018. The Investment Memorandum containing full terms and conditions will be available on the companys (www.ziccum.com), Spotlight’s (www.spotlightstockmarket.com) and Aqurat’s (www.aqurat.se) websites respectively by latest 18 September.

Subscription undertakings

Ziccum has agreed in writing on subscriptions of 2.6 MSEK, corresponding to approximately 17 percent of the total issue volume. The total subscription commitment has been deliberately kept low to ensure allocation to Inhalation Sciences shareholders, and open to the public to be granted shares in the issue. Full details of subscription commitments will be found in the Investment Memorandum.

Investor events

In connection with the rights issue, Ziccum will participate in information meetings to inform people about the companys business and future plans. Currently, the following events are booked (more may be added):

– Göteborg, aktiedagen 24 september

– Malmö, aktiedagen 26 september

Advisors

Fredersen Advokatbyrå AB acts as legal adviser in connection with the issue. Aqurat Fondkommission AB acts as the issuer.

For questions about registration and subscription:

Aqurat Fondkommission AB

Tel: 08 – 684 05 800

Fax: 08 – 684 05 801

E-mail: info@aqurat.se

www.aqurat.se

For more information on Ziccum, please contact:

Göran Conradson: CEO
Email: conradson@ziccum.com

Mob: +46 709 61 55 99

About Ziccum AB

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