Achiko AG Completing CHF4.85m Financing and Changes to Senior Team
Achiko AG is finalizing a CHF 4.85 million funding from strategic investors, initiated in August 2021, to enhance its healthtech ecosystem and clear obligations to Yorkville Capital Management. The funds will aid in restructuring operational costs and advancing the commercialization of its Covid-19 rapid test, AptameX™, and its digital passport solution, Teman Sehat™. Additionally, Christophe Laurent will retire from the board, and Adam O’Keeffe is appointed as interim CFO. This strategic move comes as the company aims to strengthen its market position amid ongoing Covid-19 challenges.
- Closing a CHF 4.85 million funding to support operational restructuring and commercialization efforts.
- Progress in production and sales pipeline development for AptameX™ rapid tests.
- Retirement of board director Christophe Laurent may signal instability if not followed by strong leadership.
- Market challenges persist due to the ongoing Covid-19 situation, impacting commercial rollout.
- Completing CHF 4.85 Million Placement from August 2021
- Board Director Christophe Laurent to Retire
- Appoints Adam O’Keeffe as Ad Interim Chief Financial Officer
ZURICH, Switzerland, Dec. 31, 2021 (GLOBE NEWSWIRE) -- Ad hoc announcement pursuant to Art. 53 LR – Achiko AG (OTCQB: ACHKF; SIX: ACHI; ISIN CH0522213468) (“Achiko”, the “Company”) is moving to complete a CHF 4.85 million funding transaction with strategic investors that began in August 2021, and includes the retirement of the outstanding portion of its obligations to Yorkville Capital Management LLC, and the capital increase announced earlier this month.
The financing will be used to restructure operating costs and support the Company’s commercialization of its unique healthtech ecosystem—an affordable, non-invasive Covid-19 rapid test AptameX™, integrated with Teman Sehat™ (Health Buddy), a digital passport solution that provides assurance services in Indonesia as well as manufacturing and sales efforts globally upon completion of CE mark registration in Q1 2022. Production of its second-generation rapid test kit has commenced and the Company is now responding to inquiries and developing a sales pipeline in Indonesia as well as other parts of Asia and EMEA.
“We are immensely grateful for the support and trust that we’ve received from all our investors and shareholders,” said Achiko CEO Steven Goh. “It’s evident that Covid-19 will be around long term and diagnostic testing needs to be integrated into a layered Covid -19 response along with vaccination and antiviral treatments to limit the human and economic impacts. We look forward to further advancements in 2022 as our unique platform has an integral role in how we go about our daily lives and return to a semblance of our old normal.”
Finally, the Company will move to update its Board in early 2022, with the retirement of Christophe Laurent, and the appointment of Adam O’Keeffe as CFO ad interim, following our former CFO Robert Rieder’s decision to pursue opportunities in the private sector. Mr. O’Keeffe is a senior finance specialist with over 20 years’ experience working within the business services and taxation industry. He has worked with leading technology and innovation businesses who specialize in areas of health sciences, technology, artificial intelligence, biotech and manufacturing.
ABOUT ACHIKO AG
Achiko AG (SIX: ACHI.SW; OTCQB: ACHKF; www.achiko.com) is developing disruptive diagnostic solutions that puts people first. The company’s lead product is a rapid, reliable Covid-19 test with a companion app offering a user-friendly digital health passport. The test and companion app were launched in Indonesia in mid-2021 and an application for CE Mark approval in Europe will be submitted in 2022.
Achiko creates and develops aptamer-based diagnostics through its biotechnology division, AptameXTM and companion health apps via its digital mobile health technology division, Teman SehatTM. The AptameX DNA aptamer tests can be rapidly chemically synthesized, are cost-effective and have wide potential across multiple disease diagnostics. Leveraging AptameX and Teman Sehat, Achiko aims to deliver fast, accurate and affordable diagnostic testing for a range of pathogenic diseases and therapeutic indications in the rapidly evolving healthcare diagnostics field.
Headquartered in Zurich, Achiko has offices in Hong Kong, Jakarta, Seoul and Singapore.
Media contacts:
ACHIKO AG
Investor Relations
E: ir@achiko.com
Switzerland & Global
Marcus Balogh
Farner Consulting Ltd.
E: achiko@farner.ch
T: +41 44 266 67 67
U.S. & Global
Jeanene Timberlake
RooneyPartners
E: jtimberlake@rooneypartners.com
T: +1 646 770 8858
Disclaimer
This communication expressly or implicitly contains certain forward-looking statements concerning Achiko AG and its business. Such statements involve certain known and unknown risks, uncertainties and other factors, which could cause the actual results, financial condition, performance or achievements of Achiko AG to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Achiko AG is providing this communication as of this date and does not undertake to update any forward-looking statements contained herein as a result of new information, future events or otherwise.
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