Climate Change Data

Environmental Metrics

ESG Focus Areas

• Environmental
• Social

Environmental Achievements

• Replaced Miris Clean (containing a bioaccumulative substance) with Miris Cleaner, a new cleaning agent.

Social Achievements

• Completed HMA study in China with positive results, leading to an order of 25 instruments.
• Sold first breast milk analysis instruments to Indonesia.
• Started studies in the US for FDA approval.

Governance Achievements

• Not disclosed

Climate Goals & Targets

Environmental Challenges

• Lower-than-expected net sales in Q3 2015 due to planned production changeover and delayed sales.
• Negative results due to costs associated with production changeover and unbillable warranty replacements.
• Loss of key personnel could negatively impact operations.

Mitigation Strategies

• Planned production upgrade completed in June 2015.
• Increased sales activity in October 2015.
• Conservative sales strategy in line with previous years, supplemented by a new share issue, to achieve profitability within 12 months.
• Seeking bridge financing from related parties to stabilize liquidity.

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement

• Most components are sourced domestically due to quality concerns.

Climate-Related Risks & Opportunities

Physical Risks

• Not disclosed

Transition Risks

• Not disclosed

Opportunities

• Not disclosed

Reporting Standards

Frameworks Used: Null

Certifications: ISO13485/ISO9001

Third-party Assurance: Not disclosed

UN Sustainable Development Goals

• Not disclosed

Not disclosed

Sustainable Products & Innovation

• Miris Cleaner

Awards & Recognition

• Not disclosed

Environmental Metrics

ESG Focus Areas

• Not disclosed

Environmental Achievements

• Not disclosed

Social Achievements

• Not disclosed

Governance Achievements

• Not disclosed

Climate Goals & Targets

Environmental Challenges

• An incident in April 2016 where a Miris HMA instrument overestimated the amount of protein in breast milk, leading to insufficient enrichment. This resulted in a safety alert being issued globally, halting sales and requiring validation of all sold HMA instruments used for enrichment analysis. Quality issues in China also impacted sales.
• Financial challenges due to decreased sales and increased costs related to the incident and validation process.

Mitigation Strategies

• Issued a global safety alert and initiated a validation process for all HMA instruments used for enrichment analysis (approximately 50% completed by the report date).
• Secured a short-term loan of 6 MSEK from a major shareholder and another individual.
• Exploring options for increased sales, delaying or canceling development work, or seeking external financing to address further financial needs.

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement

• Most components are sourced from Swedish suppliers; only a few components are purchased from abroad when equivalent quality is not available domestically.

Climate-Related Risks & Opportunities

Physical Risks

• Not disclosed

Transition Risks

• Not disclosed

Opportunities

• Not disclosed

Reporting Standards

Frameworks Used: Null

Certifications: ISO 13485/ISO9001

Third-party Assurance: Not disclosed

UN Sustainable Development Goals

• Not disclosed

Not disclosed

Sustainable Products & Innovation

• Not disclosed

Awards & Recognition

• Not disclosed

Environmental Metrics

Social Achievements

• Improved growth after implementing Miris HMA® at MedStar Georgetown University Hospital
• Two weeks shorter hospital stay after implementing Miris HMA® at Nuremberg Hospital in Germany

Climate Goals & Targets

Environmental Challenges

• Limited sales of instruments during the first half of the year due to reduced investment capacity in hospitals in Europe and the US
• Reduced net sales in the first half of 2023 impacting liquidity
• Uncertainty in market assessments
• Supplier/manufacturing/distributor risks
• Potential for competition if other companies enter the market
• Product liability
• Development costs
• Risk of losing key personnel
• Regulatory decisions in other countries
• Economic downturn
• Financial risks such as liquidity, credit, currency, and interest rate risk

Mitigation Strategies

• Cost-cutting measures introduced in the second quarter
• Secured SEK 2 million in liquidity through loans and guarantees, and a SEK 4 million loan from Almi Företagspartner AB
• Secured support from Almi and Vinnova totaling SEK 450,000
• Developed an alternative business model (leasing model) to address hospitals' financing challenges
• Implemented a rights issue to secure liquidity

Supply Chain Management

Climate-Related Risks & Opportunities