Concepta switches focus to UK where it is gearing up for ‘imminent’ myLotus launch

Concepta had been targeting the Chinese market initially, but new executive chairman Matthew Walls thinks it makes more sense to focus on launching the product here in the UK

myLotus identifies the optimal time for a woman to conceive

Concepta PLC (LON:CPT) is to focus more of its resources on the UK, where it expects to launch its myLotus fertility product within the next few months.

MyLotus is an easy-to-use home test that has been developed for women who have been trying to conceive for six months or more.

It measures hormone levels in urine to give quantitative and qualitative measurements that might help explain the apparent lack of fertility.

READ: Concepta raises £2mln

The AIM-quoted firm is currently waiting on the receipt of a CE mark which will allow it to sell the product throughout the UK and Europe.

China had been the initial focus for Concepta but progress there has been “disappointing” and so new executive chairman Matthew Walls, who joined in July, has decided to switch tack.

“Whilst the positive study results from the Changhai hospital, Shanghai have helped bolster our confidence in the China product, given our limited bandwidth and revenue growth objectives our efforts will be aligned to support the successful launch of myLotus in the UK,” said Walls in Thursday’s half-year report.

Once the UK roll-out is completed, the plan is to then to start selling myLotus across Europe.

For the six months ended June 30, Concepta posted a loss of £1.49mln (H1 17: £1.08mln), reflecting the cost of getting myLotus ready for its UK launch.

The company ended the period with almost £250,000 (H1 17: £1.23mln), although a £2mln placing in August means that figure is likely looking a bit healthier now.

Quick facts: Concepta

Price: £0.02

Market: LSE
Market Cap: £6.15 m

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on 9/7/19

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