Concepta readies for imminent UK launch of myLotus in first milestone of European strategy

The launch at the Fertility Show in London at the start of November is the first step in a switch in focus brought about by new executive chairman Matthew Walls

myLotus testing kit
MyLotus is an easy-to-use home fertility test

Healthcare firm Concepta PLC (LON:CPT) has said it will launch its myLotus product range in the UK at the start of November at the Fertility Show in London.

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.

READ: Concepta to launch myLotus in UK at Fertility Show in November

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

In late October, the company said the myLotus range had received CE-Mark certification, allowing its sale in the UK, the EU, and the European Economic Area (EEA).

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

Switch in focus

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.

Walls formerly served as the global commercial director of FTSE 100 pharma giant AstraZeneca PLC (LON:AZN), but has also worked in the small-cap pharma and biotech space as chief executive for molecular diagnostics and fellow AIM-listee Genedrive PLC (LON:GDR).

“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 the company’s half-year report in September.

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

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.

The strategy does not mean the firm is completely out of China, however, as its deal with SinoPharm, the largest state-owned pharmaceutical company in China, to supply myLotus meters is scheduled to run at least until the end of 2018.

With shares trading around 4p, Concepta carries a market cap of around £7mln.

Quick facts: Concepta

Price: £0.02

Market: LSE
Market Cap: £5.96 m

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on 9/7/19

3 min read