Concepta Plc (AIM: CPT), the pioneering UK healthcare company based at Colworth Park, has announced that it has received its first sales order for £225,000 for its myLotus fertility products from its partner in China, HuanZhong Biotech Co.Ltd (‘HZ Biotech’).
This sales order represents the first purchase for the Company’s myLotus products and will see HZ Biotech distribute Concepta’s myLotus products in China to help achieve market penetration for the initial launch of the product in the country. The Board anticipates that further sales orders will be made by HZ Biotech in line with its partner agreement and will update the market on these developments accordingly.
Concepta’s myLotus product is the only consumer product which allows both quantitative and qualitative measurements of a woman’s personal hCG and LH hormone levels in an easy to use home test to facilitate higher conception rates and early diagnosis of any fertility problems. Competitor products currently only allow qualitative measurement and are based on the ‘average woman’.
Erik Henau, CEO commented: “This is a positive and significant milestone for Concepta and is the result of close co-operation with our Chinese partners, who have helped us refine our market entry strategies into China. Through our office in Shanghai we continue to develop close local relationships that allow us to actively manage the profile and development of the myLotus brand. This first order allows us to test our three identified routes to market (IVF clinics, direct to consumer and hospitals) and we expect to make further announcements in the future as we look to expand our distribution network in China.
“We are now in a position to activate the whole supply chain, leveraging core UK elements configured to provide a scalable international supply chain. This is the result of a significant investment in regulatory processes and physical assets enabling our modular systems to expand capacity in line with demand.”
Chairman Adam Reynolds commented; “It is a significant undertaking to transform a start-up situation with a pioneering product in development to one where all the infrastructure is maturing and initial distribution channels and sales have been established for a new product in an overseas territory. We are pleased that we have transitioned the Company to that position, although as outlined above, we have experienced some delays to our hospital trials schedule that will impact revenue this calendar year. Nonetheless, Concepta has made significant progress since coming to market, and the infrastructure and relationships we now have in place provide an excellent platform for growth.”