(updated with more details)
Medical technology company Monivent has updated its financial targets after signing a distribution agreement with German company Drägerwerk in December.
“Overall, the board of directors believes that Monivent has very good conditions for good business development and exciting growth in the coming years,” the company said in a statement.
The new targets are: Sales are expected to increase significantly in the coming years and reach around 20 million Swedish crowns in 2027.
Costs are expected to be around SEK 10-12 million over the next three years.
Monivent aims to achieve positive cash flow on a quarterly basis by the fourth quarter of 2027.
-To do this, the company estimates that it needs a capital injection of around SEK 15-20 million.
Monivent intends to carry out a rights issue of approximately SEK 13 million to secure a capital injection of approximately SEK 7 million. Proceeds from the issuance will be used to fund ongoing regulatory processes and product work.
“Several additional financing possibilities are being evaluated, such as increasing debt financing or attracting larger strategic investors into the company,” adds Monivent.
Monivent has also adapted its organization and cost structure to a strategy based on broader commercial cooperation with a larger company. This means the company will be able to “focus more clearly on maintaining, developing and producing the company’s products, while marketing and sales costs can be virtually eliminated.”
