Message from the CEO

05-Dec-2017

Welcome to the first Sienna Cancer Diagnostics investor update since our listing in August. We will provide updates when applicable to keep you informed of our growth, and execution of plans.

I’d like to offer a sincere thank you to all the long-term shareholders of Sienna who have supported the Company during our journey thus far. In the early years, any start up med-tech company relies heavily on the ongoing commitment of its shareholders, and Sienna has certainly benefited through strong backing from a significant number of determined investors.

The recent listing of Sienna on the Australian Securities Exchange (ASX) was a tremendous milestone in the evolution of the Company and had been on the corporate roadmap for some time. The achievement of key milestones in late 2016, including the regulatory registration of Sienna’s IVD in the USA, Europe and Australia, and the signing of distribution agreements, most notably in the USA, provided the momentum to generate the interest and investment required to list on the ASX.

The IPO provided the avenue to raise funds to drive commercial growth for the Company over the next couple of years. The money raised, together with product revenues, provides us with the financial resources to execute on the strategies detailed in the prospectus, with the overall goal of attaining profitability without the need to raise further capital.

Through capital raised in the IPO, plus early IVD product revenue, the Company had a cash balance at 30 September of $4.1 million.

We are continuing to work diligently with our exclusive US distribution partner, StatLab Medical Products, to gain the fastest possible sales traction in the US market. StatLab manages the sales, marketing and support of our IVD test in the USA. The team has been promoting Sienna’s hTERT test to the US pathology laboratory market since around March of this year.

In September, we appointed Axlab A/S as our exclusive distribution partner in Denmark and Sweden. This is the first distribution agreement to be signed since our ASX listing, and will broaden the accessible market for the in-vitro diagnostic (IVD) test. This is a positive step forward in our global rollout strategy.

Most recently, Johns Hopkins Hospital informed us they have had an abstract accepted by the United States and Canadian Academy of Pathology (USCAP) for presentation at the annual conference in March 2018. The abstract features results of a study performed by researchers at Johns Hopkins Hospital, testing Sienna’s hTERT IVD on the largest cohort of patients to date. This study, which took over a year to complete, was a follow-on study after the successful proof-of-concept study completed by Johns Hopkins back in 2016. This is a significant milestone, as many laboratories have asked for further data on the use of this new test, and to have it provided by such a highly credited institution could represent a strong validation of the technology.

Overall, we are very confident about the future of Sienna, in relation to the immediate market opportunity, as well as the potential expansion of the business through both the current hTERT platform technology, and the addition of new technologies to the pipeline.

Thank you again for your investment and support of Sienna Cancer Diagnostics; both are genuinely appreciated.

With kind regards

Matthew Hoskin
Chief Executive Officer



 
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