Achiko AG Announces Annual Results for the Year Ended 31 December 2021 - Seite 2

“It’s with some irony that in the middle of audit completion, I’ve had my own Covid-19 experience.  The delays have been a continuing source of frustration, however I am confident that the Company’s accounting and finance function is now stabilized and that post reporting date we have successfully reinstitionalised financial controls and the Company’s ability to keep books and records.”

Despite the challenging environment, the Company has continued to progress the development of its core Aptamex technology and is positioned to capitalise on the substantial competitive benefits of its differentiated chemistry for the detection of Covid-19 and application to various other pathogens.

Post-balance date highlights include:

1. The Company reported that calibration testing of its affordable, non-invasive Covid-19 saliva-based rapid test AptameX correctly differentiated 100% of test samples up until a comparable reverse transcription polymerase chain reaction (RT-PCR) cycle threshold (CT) value of 33, indicating the system’s ability to deliver a >97% sensitive and > 97% specific rapid test at a wider range of viral loads than most other rapid tests.
2. Having secured the full approval of the optimized second-generation of AptameX with the Indonesia’s Ministry of Health for five years, Achiko, with the support of our local production partner Indopharma, secured a large-scale landmark sales deal with Nahdlatul Ulama (“NU”), one of the world’s largest membership organisations with direct reach to over 90 million people to produce 1,000,000 tests now, and on success to produce 5,000,000 or more tests per month from October 2022 onwards.
3. Successful registration of a CE Mark, enabling the Company to commence commercialisation efforts in the European Union and other geographies.

“Given the Company’s level of indebtedness, we understand and appreciate the auditor’s adverse opinion, and note that we are in agreement that the Company’s ability to remain a going concern depends on approval at the upcoming General Meeting to increase share capacity, the continued support of shareholders, creditors, and investors,  the Company’s access to capital, and timing of sales and commercialisation efforts.  To that end, we are looking forward to immediately completing a capital increase, and to the General Meeting to expand the Company’s authorized capital.” said Goh